Skint Dad

Where Every Penny Counts

  • Home
  • Save money
    • Latest supermarket offers
    • 1p Saving Challenge
  • Make money
    • Best Paid Surveys
    • Quidco New Member Offers
    • Genuine Work From Home Jobs
  • Manage money
  • Cheap recipes
    • Fakeaway Recipes
  • Win
    • Skint Dad competitions
  • Deals
    • Amazon Discount Tool
  • Join us
    • Newsletter
  • About
Home / Manage Money / How to Easily Get Wonga Payday Loan Refunds

How to Easily Get Wonga Payday Loan Refunds

By Naomi Willis | last updated 3rd May 2019 | This post may contain affiliate links

Win BIG cash prizes with your postcode! 100% FREE to enter
Share
Tweet
Pin

A new website has been set up (from 11 April 2019) to help people who were given an unaffordable payday loan by Wonga ask for a refund.

Wonga went bust at the end of August 2019 because so many of its previous borrowers were winning affordability complaints.

It’s very easy to complain for a Wonga refund

Sign up to GetPaidTo and earn cash by completing tasks, surveys, watching videos, and playing free games.

You need to enter your details on the Wonga refund claim page.

They’re after your name, email address and date of birth to match previous loan records (it takes all of two minutes to complete!).

It has been created by the Administrators who are in charge of sorting out all of Wonga’s debts.

If you have a good affordability complaint, you are “an unsecured creditor” of Wonga – they owe you money.

You may think that is poetic justice for all the months you owed them money!

As you will see, it is very easy to fill out this form and send your claim in.

Don’t go to a claims company.

They will just do it for you, or they will ask you the same questions, fill out the form using what you say and take 20%, 25%, 30% or more of your money for doing that!

There is just no point as it’s super-simple to do it yourself on the Wonga refund page.

Wonga/the Administrators may have sent you an email to prompt you to apply. Yesterday a new website has been set up to help people who were given an unaffordable payday loan by Wonga ask for compensation. Wonga went bust at the end of August 2019 because so many of its previous borrowers were winning affordability complaints. It’s very easy to lodge a complaint Here is the Wonga Claim page you have to enter your details. It has been created by the Administrators who are in charge of sorting out all of Wonga’s debts. If you have a good affordability complaint, you are “an unsecured creditor” of Wonga – they owe you money. You may think that is poetic justice for all the months you owed them money! As you will see, it is very easy to fill out this form and send your claim in. Don’t go to a claims company to do this for you or they will ask you the same questions, fill out the form using what you say and take 20%, 25%, 30% or more of your money for doing that! Were your loans unaffordable? You may think that because you repaid your loan, it must have been affordable. But that isn’t what the Financial Conduct Authority, who regulates all lenders, not just payday lenders, thinks. The FCA says a loan is affordable if you can pay it on time and without borrowing any more money or getting behind on essential bills. So if you couldn’t repay a Wonga loan and had to roll it – that may have been unaffordable. And if you did repay it but then had to take out another loan in the next few weeks because you were left so short of money - the loan may have been unaffordable. The lender may not have known the first few loans were unaffordable. But when you kept having to get more loans they should have realised and stopped lending to you. How much money might you get back? Before Wonga went under, you could have got a refund of all the interest that you paid on unaffordable loans. Plus an extra 8% a year statutory interest. Now there isn’t going to be enough money left to pay everyone the full amount of compensation they should have had. I asked Sara Williams, a debt adviser who specialises in payday loans and other high cost borrowing, what she thinks people might get. She said “That’s a difficult question. The Administrators are selling off the Wonga companies in Poland and South Africa and we don’t know how much money they will get for them. It also depends on how many people put in a complaint – if lots of people don’t bother, there will be more money for the people that do! As it’s so simple to fill in the new form, I think it’s worth doing even if you don’t get much back. You won’t be asked any more questions, that one form is all that is needed. So why not?” Did you borrow from other payday lenders? If you had loans from other payday lenders, you may be able to get a refund of the interest you paid! My Everything You Need to Know About Pay Day Loan Refunds (and How to Get One) page looks at how to do this. And Sara’s Debt Camel website has a page with an easy to use, free template letters for payday loan refunds. But remember, don’t use those template letters for Wonga claims – just fill in the Administrators’ easy Claim Form.

However, even if you didn’t get an email, you’re still able to put in a claim – don’t hold back getting Wonga compensation.

The Wonga claims portal will likely be open for a few months, but there’s no reason to put off putting in a claim for a refund.

If you wait too long, you may just lose your chance to put in a claim at all.

Were your loans unaffordable?

You may think that because you repaid your loan, it must have been affordable.

But that isn’t what the Financial Conduct Authority, who regulates all lenders, not just payday lenders, thinks.

The FCA says a loan is affordable if you can pay it on time and without borrowing any more money or getting behind on essential bills.

Wonga

So if you couldn’t repay a Wonga loan and had to roll it – that may have been unaffordable.

And if you did repay it but then had to take out another loan in the next few weeks because you were left so short of money – the loan may have been unaffordable.

The lender may not have known the first few loans were unaffordable. But when you kept having to get more payday loans, they should have realised and stopped lending to you.

How much money might you get back?

Loads of money

Before Wonga went under, you could have got a refund of all the interest that you paid on unaffordable loans. Plus an extra 8% a year statutory interest.

Now there isn’t going to be enough money left to pay everyone the full amount of compensation they should have had.

I asked Sara Williams, a debt adviser who specialises in payday loans and other high cost borrowing, what she thinks people might get. She said:

“That’s a difficult question.

“The Administrators are selling off the Wonga companies in Poland and South Africa and we don’t know how much money they will get for them. It also depends on how many people put in a complaint – if lots of people don’t bother, there will be more money for the people that do!

“As it’s so simple to fill in the new form, I think it’s worth doing even if you don’t get much back. You won’t be asked any more questions, that one form is all that is needed. So why not?”

How long will it take to get a refund from Wonga?

The Join Administrators have now released a statement about when Wonga refunds will be paid.

Payments to accepted claimants will be paid within four months of 30 September 2019 (the last time a claim can be made).

This means, you’ll likely get your refund before, or by, 30 January 2020.

Did you borrow from other payday lenders?

loan application

If you had loans from other payday lenders, you might be able to get a refund of the interest you paid!

Read up about how to get payday loan refunds. And Sara’s Debt Camel website has a page with an easy to use, free template letters for payday loan refunds.

But remember, don’t use those template letters for Wonga claims – just fill in the Administrators’ easy Claim Form.

  • About
  • Latest Posts
Naomi Willis
Editor at Skint Dad
Naomi knows the burden of living on very little and became debt free by learning from past mistakes and following her own money saving tips and tricks.
Latest posts by Naomi Willis (see all)
  • Supermarket offers, deals and bargains this week at Aldi, Asda, Iceland, Lidl, Morrisons, Sainsbury’s, Tesco and more - 25th February 2021
  • Farmfoods vouchers, offers and deals this week - 23rd February 2021
  • Latest Co-op £5 Frozen Meal Deal (March 2021) - 17th February 2021

Leave a Reply Cancel reply

Your email address will not be published.

final sd bio
Skint Dad in the media
HIBS100 Index of Home and Interior Blogs
HIBS100

Find out how to

Save money

Make money

Manage money

Start a blog

Eat cheap

Win competitions

Join us

Information

About Skint Dad

Contact us

Awards, Media and Press

Jobs at Skint Dad

Privacy Policy

Cookie Policy

Terms & Conditions

SKINT DAD®

8b Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU

Skint Media Limited
is a registered company
in England & Wales.

Company reg no: 09991508
VAT No: 318 7349 80

Check out our sister site Skint Chef

Copyright © 2021 · Skint Media Limited · All rights reserved · Registered in England and Wales with company number 09991508 · Sitemap · Privacy Policy · Cookie Policy · Terms and Conditions

Skint Dad | Where Every Penny Counts! Logo Header Menu
  • Home
  • Save money
    • Latest supermarket offers
    • 1p Saving Challenge
  • Make money
    • Best Paid Surveys
    • Quidco New Member Offers
    • Genuine Work From Home Jobs
  • Manage money
  • Cheap recipes
    • Fakeaway Recipes
  • Win
    • Skint Dad competitions
  • Deals
    • Amazon Discount Tool
  • Join us
    • Newsletter
  • About