I have written quite a bit about my Debt to Wonga but wanted to write a separate post about what happened when I didn’t pay back my Wonga Payday Loan on the due date.
I had borrowed the maximum amount allowed of £1000 so you can imagine just how much Interest I owed. Well to answer that question it was £458 in total plus the £1000 I borrowed. Ouch.
I am pleased to say that I have paid off the Wonga account now so it is one less debt I have to worry about. Don’t worry though, I still have plenty more of them to contend with.
Before the Wonga Loan Payment was due
Before the Wonga Payment was due, I sent an e-mail to the Wonga collections team to ask about setting up a repayment plan. I sent across my offer of payment along with an income and expenditure form detailing my expenses and other debts.
I had made an offer to settle the account over a period of six months. I also asked for the interest on the loan to be frozen otherwise it would have taken me forever to pay the loan back.
Unfortunately all I ever got back from Wonga was a request to call them to discuss the account. I did not understand why they wanted to speak to me when I had provided all the information they required in the e-mail.
As a safe guard I moved my salary into a completely separate bank account and I also cancelled the debit card I had registered on the old bank account just to be sure I wouldn’t end up overdrawn with my old bank.
The day the Wonga Payment was due
I received an e-mail to advise me that the repayment had failed but that Wonga would try to collect the payment again. As I had not made payment, interest was beginning to accrue on a daily basis and the amount I owed was rising rapidly. In fact it was quite scary to see how quickly it was increasing.
I may have received telephone calls to chase the payment but I don’t recall ever answering them. I had already tried to sort out a repayment plan but was given the run around so to speak.
Several Weeks Pass by
Over the following weeks I received further e-mails advising me that I owed the money. I ignored these and ultimately ended up e-mailing the CEO to get a payment plan set up. You can find found out more about my Wonga Repayment Plan and debt in the links below.
More Stuff about my Wonga Debt
In case you are interested, below are more articles I have written in relation to my Wonga Debt.