repayment plan pdl

[scotslad26]

hi i have with wonga due to be paid at the end of the week i have no way of paying it nor the extension fee.

 

ive heard wonga are very helpful with repayment plans im just wondering do i email them now saying i cant repay or wait till i default?.

 

also who do i email there seems to be alot of addresses flying about?

 

thanks any help appreciated.

[renegadeimp]

Email or send a letter advising them of your situation. Let them know that you want a repayment plan and DO NOT want to rollover the loan. The default email address for wonga should be ok.

 

Just remember, if you have probs with any PDL, always send them a letter or email first. This covers your back and legally advises them of your situation.

[Welshy27]

Wonga are really understanding when it comes to repayment plans. I rang them and they immediately set one up for me and since then have rung them to ammend it with no problems at all. Make sure you have no funds in your account on the due date because they will take what they can but apart from that once you default you shouldn't have too much of a problem with agreeing to a plan with them.

[renegadeimp]

Wonga are really understanding when it comes to repayment plans.

 

Thats because they are trying to become a bank and have started issuing loans to companies. However, it is doubtful theyll get their license due to the recent OFT investigation which wonga are trying to shake off. http://www.bbc.co.uk/news/business-18160539.

[scotslad26]

thanks for the help i will email them before i default then on the day.

[renegadeimp]

Make sure you include the clause " I withdraw all permission for you or your representatives to perform any transactions on my bank account". Otherwise they could debit it regardless of what you say. A lot of PDL's have been known to do this.

[scotslad26]

does this mean they will try once i have set up a plan with them. i dont want to change bank accounts and that i do have other accounts to get paid into.

Make sure you include the clause " I withdraw all permission for you or your representatives to perform any transactions on my bank account". Otherwise they could debit it regardless of what you say. A lot of PDL's have been known to do this.

[Welshy27]

does this mean they will try once i have set up a plan with them. i dont want to change bank accounts and that i do have other accounts to get paid into.

 

No they won't once you set up an agreed payment plan - they will email it over to you straight away. If you need to amend a payment amount or the date it is taken then obviously ring up in advance of the due date and they should change it without issue. They normally take funds between 5 and 6pm on a repayment plan due date. Another thing is that if your able to pay off a higher amount at any time then not to do it through their website but ring up so that they can immediately adjust the outstanding balance and remaining payments accordingly.

[renegadeimp]

The reason i said to add the clause is to cover your own back. Once you have revoked the authority for a merchant to process transactions through your account, should they still do so, you can start legal action or official complaint procedures. It basically covers your back, and if they agree to your proposals, you can easily withdraw that instruction and let them debit.