Wonga to get tougher on bad debtors

[super jumbe]

Payday lender Wonga tells MPs it may use debt collection agencies to chase errant borrowers

Customers who have taken on expensive payday loans could soon find themselves harassed by debt collectors if they are unable to pay back these debts.

Wonga, one of the biggest payday lenders, told MPs yesterday that it was considering using debt collection services in future, and aimed to start a trial shortly.

The lender has arranged more than one million loans over the past five years.

Payday lenders arrange smaller short-term loans for customers, which can be approved within 15 minutes. Due to the size of the loans there are often less stringent credit checks that those imposed by high street banks for credit cards and overdrafts

Link: Wonga to get tougher on bad debtors - Yahoo! Finance UK

[bobwill]

what about the victims of wonga fraud will they have baliffs knocking on there door

http://www.thisismoney.co.uk/money/cardsloans/article-2192482/INVESTIGATION-Wonga-fraudsters-push-debt-unwitting-victims.html

[super jumbe]

Bobwill this was the nice one I have read for some time.

When I read this was very upset situation were is the law suppose to put criminals behind bars??

My partner had a letter from his bank today saying that there had been some transactions they couldnt verify so they declined them it was a account that hadnt been used for over 6 months the card had been in my possession and not used he rang them they said that Wonga had tried to take money from his account 25 times each amounting to ?10 he has never had any dealing with Wonga or been on their website i had looked at a couple of websites for loans but had not given any bank details at all my partner has stopped the card and cut it up he is furious that this company can get away with this having seen the other comments on here it seems we are not the only ones!

[GastonJ]

It's not really ing news to them that they have people with bad debts on their book is it ffs Wonga and co are lower than the bottom feeders of the planet. They feed on the desperation of people who can't get a loan either because they don't make enough money or are in debt up to their eyeballs - what did they expect??? The FSA should rule that they were overcharging interest for their loans and give the PPI sharks free range to sue the ck out of them on behalf of people. That and I hate PPI and ambulance chasers almost as much as I hate bailiffs *spit*. I wouldn't iss on them if they were on fire.

If they were all in a crocodile infested river I'd save the crocodile from food poisoning.

[Meat-Head]

I wouldn't iss on them if they were on fire.

If they were all in a crocodile infested river I'd save the crocodile from food poisoning.

thought if you pished on a fire it makes a nasty acid?

Rumor states if you borrow ?100 from wonga and don't pay it back after two months or something you owe them a million pounds.

so what about the guy who owes me money from a couple of years ago?

[ajax2061]

1st thing to say when a debt collect turns up on your door is 'I have no contract with you'

Small not very well known law once the debt has gone to a debt collect they have brought the debt there the funds have transferred and as such you no longer owe the debt

So the second thing you say is don't return the debt as you now own it not me and I am no longer liable for it.

3 thing to do close the door in their face

Debt collectors are powerless to do anything if you do not agree the debt is yours as soon as you do, you have just agreed to a contract with them to pay and have too, do not touch any paperwork do not let them in and be nice while you do it.

[thered]

1st thing to say when a debt collect turns up on your door is 'I have no contract with you'

Small not very well known law once the debt has gone to a debt collect they have brought the debt there the funds have transferred and as such you no longer owe the debt

So the second thing you say is don't return the debt as you now own it not me and I am no longer liable for it.

3 thing to do close the door in their face

Debt collectors are powerless to do anything if you do not agree the debt is yours as soon as you do, you have just agreed to a contract with them to pay and have too, do not touch any paperwork do not let them in and be nice while you do it.

do you have a link for small law what does it mean??

[Meat-Head]

do you have a link for small law what does it mean??

Well normally when taking money off a costomer we say

"We have your money now f**K off"

This case it's

"You have my debt for some money, now f**k off"

[thered]

just to add to this thread it may help some people who get caught short you dont have to be on benefit either


you can get loans off government interest free


budget loans cab be got by dhs claimants

crisis loans can be got by anyone

they are normally restricted though you cannot do them regular

but if anyones in a jam worth thinking about i think you can get up to a grand maybe more depending on what you have coming in and what its for

but if you get a grand you pay back a grand


as meaty said you borrow ?2 of wonga and come payday its a million

[chalky 4]

It would be interesting to see a footballer refuse to wear the logo of this usury company.