Took out a loan with Wonga? Shouldn’t have had the loan?
If you’re one of the thousands of people in the country who took out a short term, payday loan with Wonga, the chances are you shouldn’t have been given the money in the first place.
We’ve had many (too many) loans from Wonga in the past…and they start to form a pattern:
- Was it unaffordable?
- Did they give you loan after loan and it was clear you weren’t managing the money?
- Did you miss repayment dates?
If it’s a yes, you can look to claim compensation from Wonga – even now they are in administration.
You will get back interest and charges if they agree with your claim.
Had a loan with Wonga as they went into administration? Read up on what happens next.
Here’s what you need to know about Wonga compensation claims.
Already put a complaint in
If you’ve already put a complaint into Wonga, once it’s been assessed (and they agree to refund you interest payments), you are going to need to wait a while to get paid.
There are no timelines yet, so you just need to be patient.
Not put a complaint in yet
Do not for one second think that Wonga going into administration means you won’t be able to put in a redress claim.
Back in September 2018, not long after they went into administration, Wonga was telling people to put in an affordability claim.
“Those customers with redress claims should continue to approach the company in administration. These claims will then be assessed and if valid dealt with as unsecured creditors of the administration estate.”
And, people did.
In fact, the administrators for Wonga, accountants Grant Thornton, have found that people have been claiming – by the bucket loads!
By February 2019, four times the amount of people have put in a complaint than they had expected … and they’ll be more to come.
Grant Thornton is planning to set up a portal for customers so you can make a claim online, rather than having to put the complaint in writing (via email is fine).
However, there is no date for this at the moment, so continue to follow the process below to put in a complaint for Wona compensation.
Please, please do not go to a claims management company to do this. Even Wonga and Grant Thronton say not to use one. It will cost you money to use them, and it won’t speed up the process.
Wonga refund complaint
It’s super simple to put in a claim to Wonga yourself.
Send an email to [email protected]
And give them the following information:
- Your name (and name (if different) from when you took the loan out)
- Your email address used on your account
- Details about your complaint – tell them it’s an unaffordable loan complaint – and tell them why you couldn’t afford it (late payments, repeated loans). Ask them to refer to your loan history on their files for evidence.
- Ask them for a refund of all interest and charges as the loan was unaffordable.
Again, this is going to take some time for it to go through their process, but it’s well worth doing.
There have been hundreds of thousands of people apply for payday loans with Wonga, and I’m sure so many of them were not really affordable. I know I’m one of those people.
Please do not let this unethical company get away with making profits for running a business that targeted financially vulnerable people.
Please do get back the money you deserve.
But the bad news…
Yes, it’s great that so many people are putting in complaints and it just goes to show how badly Wonga was at doing business.
However, this does leave an issue about the compensation itself.
Wonga not only have people looking to claim compensation but likely have creditors who are owed money too.
The more people make a claim, the share of the of the pot for compensation will just get smaller.
Read next: Alternatives to payday loans
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.