The administration of WDFC, the legal company who operated the Wonga brand, was completed in August 2020.
The company was finally dissolved in December 2020.
See Companies House records for details.
Background to the administration – rising complaint numbers
A payday loan is “unaffordable” if repaying meant you had to get into more debt, by borrowing again or getting behind on bills or other debts. So you may have repaid all your loans but still have a good claim for a refund of the interest you paid.
When Wonga went under there were over 200,000 people with current loans from Wonga – many of them had a good case for the interest to be removed from their balance so they only repay what they borrowed.
The Administrators proposals set out the reasons why Wonga went into administration. These were the increasing number of affordability complaints, especially from Claims Companies, and the decision by the Financial Ombudsman that FOS could look at loans over 6 years old, going back to 2007.
There were 24,000 affordability complaints awaiting a decision by Wonga and 9,500 complaints against Wonga with the Financial Ombudsman when Wonga ceased trading on 30 August 2018.
Details on the Administration
The Administrators have made various progress reports (available from Companies House) and statements during 2018-20:
- in October 2018, the Administrators published their Proposals, detailing how they planned to handle the administration. Creditors voted to approve these Proposals.
- progress report to end February 2019;
- Witness Statement in April 2019;
- progress report to end August 2019.
An online claim page was set up in April 2019 for Wonga customers to submit claims for refunds. The deadline for sending in a claim was 30 September 2019.
The Administrators assessed all claims using an automated tool. This took account of:
- all loans, including those over 6 years old
- how large a loan was compared to a customer’s income;
- how often someone borrowed without significant gaps;
- whether there were indications of hardship such as missed payments;
- if there is a balance outstanding for the right of set-off.
Where it decided one or more loans were unaffordable, it calculated how much interest should be refunded and added statutory interest at 8%.
In August 2019 the Administrators starting sending emails to people saying whether their claims have been successful or rejected.
In September, the Administrators sent an update on progress up to end August 2019. Key points include:
- at end August, 389,621 claims for unaffordable payday lending have been accepted by the administrators;
- the total value of these claims is c £460million – an average of c £1,200 a claim.
- £23m of outstanding loans have been collected. The Administrators say that outstanding loans are being taken into account and given the right of set-off where the customer has a claim for unaffordable loans.
- The remaining loan book will not be sold to a debt collector.
At this point the Administrators were saying that payments would be made by 30 January 2020.
29 January 2020 – administrators announce 4.3p in the pound
On 29 January 2020, the Wonga administrators announced that they will be paying 4.3p in the pound to unsecured creditors, including all the 400,000 people who are owed a refund for unaffordable lending.
The administrators have now given the final numbers:
- they assessed 401,202 claims as being valid;
- of these 358,129 are being paid 4.3% of their assessed compensation value;
- the remaining 43,073 also owed a balance on a loan to wonga, so their compensation has been used to clear or reduce that balance.
What happens next:
- the money should be paid within the next 4 weeks. This has come as a surprise as people had been told it would be paid by the end of January;
- the loans that are being refunded should be removed from your credit record in the next 6 weeks.
My comment – ripped off by Wonga and now let down by the regulators
The administrators told people they would get “significantly less” than that amount as there would not be enough money to pay the claims in full.
But many people will have been hoping for more than 4.3% and are very upset.
It is not the administrators’ fault there is so little money to be divided between so many people. It is the fault of the regulators – first the OFT and then the FCA – that they allowed Wonga to break the rules saying that affordability should be checked
And now the regulators have failed to ensure that these Wonga victims get the compensation they should have. When a PPI firm went under, the Financial Services Compensation Scheme stepped in and people with PPI claims got paid in full. But the FCA has not extended the FSCS to cover payday lenders.
This isn’t just a problem for the hundreds of thousands of Wonga victims. Borrowers from many payday lenders have been unable to get proper compensation after the lender has had to close. This will apply to QuickQuid, the money shop, Payday UK and Payday Express borrowers as well.
The FCA needs to rethink this and provide a safety net for people who were mis-sold unaffordable loans.
Readers comments – Shock and disappointment
This a brief overview of the hundreds of comments below this article.
Some people are happy to be getting anything:
- “I am only getting just shy of £25 but for the sake of completing a 30 second form it’s not too bad.”
- “I will be getting £79.93 of the £1854.17 I was owed. Better than nothing!”
- “£35 out of a possible £800. I wasn’t expecting much anyway. I’m more interested in having the 25 wonga loans removed from my credit file.”
The administrators had said people would get “significantly less” than the claim, but many people were hoping for at least 10%:
- “I got mine £88.67 – claim was £2057.05 – I was expecting at least a couple hundred.”
- “Claim was 3034, getting 130. By considerably less I didn’t think it would be over 95% of it. That is ridiculous.”
- “To receive £44.10 from a claim of £1023.00 is insulting to be honest.”
- “Owed £1499, getting £63…what an absolute joke!”
- “4.3% is an absolute disgrace. Although people are trying to be positive they shouldn’t have to. The people who made all the profit here would spend the biggest payout anyone has received on an evening out and not think twice about it.”
- “Gutted…. was hoping for at least the 10% speculated.”
This reader blamed not just Wonga but the regulators:
- “Over £11k accepted reduced down to £480 – my job, my marriage and 4 years of desperation followed by years of rebuilding my life – that’s what the regulators consider that to be worth! Shame on everyone involved in Wonga and the lack of regulation of lenders like them !”
Some are just are delighted that Wonga has gone under:
- “Heads up everyone…We have won in the end! They can no longer be a hindrance to any of us any more!”
- “Mines going to charity. Best thing to have happened is for them to have gone bust”
- ”Thank you Wonga you paid me to continue gambling, I lost everything. Good riddance.”
Many people are also disappointed and shocked that they aren’t being paid by the end of January. Some people getting these refunds are still in difficult financial circumstances and had planned to use the money to pay a bill or some debts.
February 2020 – some clarifications from the administrators
The remaining loans
The administrators have confirmed that no further payments are being accepted and the debts will not be sold to a debt collector. So you don’t have to worry about being taken to court or bailiffs.
But the debts are not technically being written off. They will remain on your credit record for 6 years from the default date on your credit record. If you don’t know what this date is, I suggest you check it now.
In practice, now the company in liquidation, if you contact a credit reference agency and say your Wonga debt is incorrect, you can ask the credit reference agency to “suppress” the record as Wonga can no longer say what the right entry should be. See How to correct credit records if the lender has gone under for details.
No deductions are being made for tax
The Administrators have said:
“the Joint Administrators have agreed with HMRC that the payment may be treated for tax purposes as set wholly against the interest and fees element first, and statutory interest second. As a result, where the distribution paid by the administrators to each customer does not exceed the interest and fees claimed by them, no withholding tax will be required to be deducted at source from payments made by the administrators in such cases.”
The simple version of this is:
- the administrators are not taking off any tax.
- there will, therefore, be no tax to have to reclaim.
- the vast majority of people will not have to pay any tax on any part of of the refund even if you are a higher rate taxpayer. The amounts don’t have to be declared if you complete an annual tax return eg if you are self-employed.
A small number of extra payments
A small number of customers were owed money by Wonga for a different reason, for example they may have overpaid on a loan. These extra amounts are also being paid out and you will get 4.3% of them too.
If you were not using a claims company, you should have received a single email at the end of January which mentions both amounts.
If you were using a claims company you should have received two emails, each about one of the amounts. If you have only received one email and it mentions a claim which is smaller than the amount you expected, you can contact the administrators, it may be this is the “extra” payment.
Bank account issues
I asked the Administrators why some people are still getting emails asking them to update their bank details. They say:
These emails will be in response to customers’ requests received by the Customer Care team prior to 29 January 2020 providing a secure method by which customers can update their bank account details. Customers should respond to these emails.
I asked the Administrators what will happen if they make a payment and it bounces back to them because the account is no longer open. They say:
Where updated information is available from customers we will attempt to reprocess bounced dividend payments via electronic transfer. Alternatively, we will issue a cheque to the address held on file.
A blogger contacted the Administrators on the 14th February to ask why she hadn’t been paid and was told:
“I can confirm that the joint administrators have commenced distribution of dividend payments to unsecured creditors, including those with redress claims. Given the volume of transactions that need to now take place, the administrators cannot guarantee an exact date when individuals will receive payment but are aiming to complete transactions within the next two weeks.”
February and March – payments started but with problems
I was told by the Administrators on Friday 28th February that 90%+ of payments have been made and they expect to make the rest of payments over the next two weeks by BACS. About 22,000 the following week, about 13,000 the week after. It looks as though the 22,000 group got their money. It’s not clear to me how many of the 13,000 group have.
Many people in the comments below this article were reporting probems. These included people whose bank accounts had never changes. Problems included:
- confusion over whether a claims company has been paid or they will be;
- Wongasaid payment was sent to a claims firm that hadn’t been used;
- Wonga said a cheque was sent to a house you no longer live it;
- Wonga said a payment has been made to your bank account but it hasn’t arrived ;
- Wonga has said a payment was sent to an old bank account despite new bank account details having been given and co0nfirmed as having been received.
On 2 March the Administrators said the payment process was taking longer than expected and payments would continue to about 40,000 people over the next 2 weeks:
The Joint Administrators have now attempted to make dividend payments to over 410,000 creditors… In addition to the payments that were not made we have had approximately 40,000 payments returned to us due to incorrect customer bank details recorded on file with Wonga. We will now begin contacting these customers whose payments were returned, by email, to obtain correct and up-to-date bank account details.
The dividend payment process is taking longer than anticipated and payments will continue to be paid during the next two weeks.
On 19 March the Admistrator’s announced:
The Joint Administrators have now attempted to make dividend payments to over 443,000 creditors representing 98% of the creditor population. This includes payments to creditors whose payments were briefly held back from the initial payment phase whilst additional validation checks were completed to new bank account and/or address details that were provided. The Joint Administrators now continue to focus on the remaining small population of unpaid dividends in order to complete the payment process.
From here on progress was very slow, impeded by lockdown.
End August 2020 – administration ends – do you still have a problem?
Have you not been paid?
The Administrators final report blames the payment problems of Wonga’s poor systems and on creditors who did not update their bank details when requested to. But as many comments below detail, people who had never changed their bank account or who had updated their bank details several times and had each confirmed also experienced prolonged delays.
At 28 Auguest when the administration ended, there were still c 49,000 payments with a total value of £632,000 that had not been made – an average about of £13 per payment. About 70% of these were for amounts owed before the administration, so not affordability complaints.
The Administrators have passed the £632,000 to the Insolvency Service. If any creditors want to claim an unpaid amount, they should email CustomerServicesEAS@Insolvency.gov.uk.
A problem with your credit record
If there is a problem with your credit record then you now need to contact the Credit Reference Agency where the problem is showing – Experian, Equifax or TransUnion. Say you can no longer get an answer from the administrators as the firm has been dissolved so you would like the CRA to “suppress” the credit records (list them) as they are inaccurate.
This problem could have been an error by the administrators, who failed to delete the record. It could be an error by Wonga before the administration: the loan date or balance or default date is wrong – you want the default date to be as early as possible so it drops off sooner – or Wonga may have failed to add a default date.
If the CRA refuses, send the CRA a formal complaint and this can be sent to the Financial Ombudsman. In practice people are getting these sorted with the CRAs without having to go to the ombudsman.
Refunds from large loans & car finance
Refunds from other payday lenders
Is your credit card limit too high?
John says
I have logged a query with the FCA regarding the Management of the scheme. It’s not a complaint about the amounts being offered it’s a complaint about the roll out and lack of communication. I have also emailed ITN and The Sun newspaper. I would advise anyone else not happy to act. The petition is slowing down we need to either stick up for ourselves and say this isn’t right or the story will die out and we will be left at the mercy of an administrator who is clearly struggling with the scale and impact of such a large project.
Simon Evans says
I totally agree
Alex says
FYI, and there is info regarding this on this very site – but I am almost at the end of an affordability complaint against a credit card company.
I’ll add – they are way over the 8 weeks (closer to 18) but are drawing to a close. They have said they are waiting on some final detail but the didn’t dismiss my claim right away.
My accusation to them is similar to my issue with the payday loan complaints I’ve made – they simply didn’t check my affordability enough and turned a blind eye ushering me into more and more debt: so thing they stated they wouldn’t do.
This all came about when they told me I was in persistent debt, recently. I started to look back over why and how I got into this situation where I was unlikely to every pay off my credit card. Turn out, they increased my credit limit time and time again and there is very little evidence I would pay it back – in fact they knew I was in persistent debt and help me get in further. They have put the focus on me to fix it, but not acknowledging their part in it.
So, I’ve complained stating irresponsible lending. It’s just as simple an email as one for payday loan companies, do the same if you feel the same.
Sara (Debt Camel) says
You have to persevere with these complaints but yes, people are winning some in the end, often via the Ombudsman so if the card co says No, send the complaint to FOS because you have nothing to lose and could gain a lot.
The approach that most often seems to work is to argue that they increased your credit to too high a level without checking if would affordable for you to repay them. See https://debtcamel.co.uk/refunds-catalogue-credit-card/ for more, with a template letter.
Michaela says
Has anyone had a successful refund from satsuma?
Andy says
Hi Michaela,
For Satsuma see here, lots of info, help and of course comments under the article page itself:
https://debtcamel.co.uk/payday-loan-refunds/
Hope you get a successful claim with them. All the best. :)
Natalie says
Ok guys, so up until this point I’d never received the e-mail asking to confirm my bank details however I did receive the % e-mail… however, I have just this minute finally received an email about bank details! I reckon that they’re just doing things randomly so fingers crossed those missing their % emails get them soon!
Maz says
I have not had a settlement email yet either, but had all the others last year. I’ve given up hope now, think it’s a long way off if ever people get there money.
Val says
Look at old email address in case as that’s where mine went today
Had a hunch to check
All others correct current so playing the game I think
Good luck
Anders says
Contact them on Monday, others have said that they were told that if no email by then, then to contact them. There’s a lot of people they have to contact, it’s not a simple process. Those that have had the email, will get it in the 4 week period stated.
Sara (Debt Camel) says
please make sure you also email your MP, Labour or Conservative, even if you don’t think they will be sympathetic.
It is simple to do here https://www.writetothem.com/ – just put in your postcode and say how you think 4.3% of the compensation you should have had is unfair.
Contacting MPs directly is likely to be far more effective than signing any petition. The House of Commons Treasury Select Committee held a hearing on Wonga a year ago – they need another one now it is known that there are 400,00 Wonga victims and how little you are all going to get.
I cannot remember a case where a petition like this has had any effect. Sign the petition and share on your social media account, but writing to you MP could prove more useful,
Andy says
It’s a shame the Parliamentary petitions system is not up and running.
I do still concur though that a letter or email to your local MP is likely more effective but (someone please correct me if I am wrong) there is almost a bit of erm “weight” be that real or imagined behind the Parliamentary ones too.
Dee says
I know, I would of used that service if it was. We can still present the pdf petition to parliament with 10,000 signatures. Appreciate 100,000 is far fetched…especially as I angrily and quickly wrote the petition (note to self I should have asked for forum and Sara wording guidance, but hey, it is better than nothing and is still gaining support.
Please share and re interpret our argument on your social media platforms.
I have had no response from John McDonnell as of yet, copied in his PA too.
T says
Absolute joke 4.3% it’s an insult how they can get away with it. The money would have helped so many people. Is their even a 1% chance the government will do anything. Not getting what the claim is could make people even more depressed and stressed. I just hope something does get done about this.
Vanessa says
Hello may I ask what can be achieved by writing to the MP, is there any chance at all that the government or anyone else will compensate us?
For my personally if I would receive my full redress amount it would be a life changing amount that would allow me to pay off my debts and finish a course that would enable me to get a better paid job. Just wondering if there is the slightest chance at all if receiving any more money
Sara (Debt Camel) says
Will you get all your refund paid in a month or two? No.
Is there a chance something will be done? Yes.
The House of Commons Treasury Select Committee looked at “the wonga victims” this time last year, when they thought there may 20,000. At that point the FCA brushed off suggestions the FSCS compensation scheme should be changed to cover payday lenders. Now it is known there are 400,000 it needs to be looked at again!
There is NO chance if people don’t do anything. So why not email your MP? It will take all of 5 minutes
Vanessa says
Okay thank you Sara I will do!
Vanessa
Gill says
I’m embarrassed about getting into debt and having turned to these awful companies through desperation. I’d like to email my MP but to be honest I’d be ashamed to have my name disclosed in public. I wonder how many others feel the same?
Sara (Debt Camel) says
I think your MP will treat your letter as being in confidence if you say you don’t want your name made public.
But this is another reason why a petition is unlikely to take off. It needs people to share on Facebook and Twitter and a lot of people don’t want all their friends and acquaintances to know they had payday loan problems.
Vanessa says
Emailed my MP!
Gill I do not want my name to be public either and have added that in my email
Paul says
Hi, I am expecting upwards of 120 Wonga loans to be removed from my credit file. Will this help greatly in my ability to gain credit in the future or not make much of significant difference?
I ask as have ambitions for business start up and mortgage, not more payday loans thankfully!!
Thanks,
Paul
Sara (Debt Camel) says
What problems will remain on your credit record when these loans have gone?
Ambitious plans and no payday loans sounds good :)
Paul says
I don’t have many bad marks on my file at all, all payments up to date, never bankrupt, on electoral roll, make sure I use credit card builder etc, I have no long term date at all etc my biggest problem from reading online is that I have 100s mainly these Wonga loans which I opened as early as 3 years ago still showing as opened then closed on my account which must be harmful?
Thanks for reply,
Kindest Regards,
Paul
Sara (Debt Camel) says
I’m sorry it will depend on what bad marks remain. Come back and say what happens to your credit score!
Whatever happens to your credit score, removing many payday loans may make some lenders more prepared to lend to you – most lenders don’t actually use the headline credit score number you are shown, they make their own assessments.
tony says
Already done the MP letter, now signed the petition as well
Val says
Well I never finally e mail arrived this morning tone mail address unused for several years
I just had hunch to look
Al emails sent to correct address except the one with the money! Ironic
£103 refund from £2300
Insult but money didn’t know I’d get without this site
Now sent FOS re 247moneyboat /money box as it’s same lender an two people replied so rudely implying I committed fraud! Dreadful
And Myjar at FOS
Satsuma’s was awful so Ombudsman for that too as they increased loan a few times even though reports bad
U have to keep trying
Thanks Sarah MBE to you I reckon xxx
Sara (Debt Camel) says
247Moneybox is in administration. Moneyboat is a completely different lender. If you want to discuss this, please post on https://debtcamel.co.uk/payday-loan-refunds/ not more on this Wonga page.
Andy says
Two simple quick additional points about contacting your MP:
It is worth doing this regardless of what you think of their political perspective/party/other. Ultimately it is quite likely good publicity for them to get involved.
I would suggest (unless told officially otherwise or ‘invited’ afaik) not contacting any other MP’s other than your own, for instance in a neighbouring borough as they are unlikely to be able to directly assist with a request from a constituent they do not represent I think, even if they wanted to.
It seems unlikely that many MP’s will not get some form of correspondence on this so they won’t miss out!
Laura says
Hi Andy,
I’m not a SNP voter but that’s my local MP. To be fair she replied the next day saying she had heard reports and was disgusted., sh invited me to her surgery next week and asked for more information etc. Someone on here mentioned SNPs MPs would take this up as they definitely side on more socialist side of politics and it’s right up their street so anyone in Scotland contact your MP for change!
Andy says
That’s great news Laura then, thank you for posting back with that 😀
The more MP’s (of whatever political persuasion) who take an active interest in this so much the better.
RK says
Hi Sarah
Can I claim against Vanquis as they repeatedly put up my credit card limit, which I maxed out because my benefits were on hold at the time, I couldn’t afford it and ended up defaulting and not being able to pay over £3K
Sara (Debt Camel) says
You can. Here you are complaint about the credit limit increases, see https://debtcamel.co.uk/refunds-catalogue-credit-card/. These complaints take longer because most of them have to go to the Financial Ombudsman and you may have to make a detailed argument about what was happening to you, but this comes down to they raised your limits when any check of your finances would have showed that you were only making minimum payments and you were having problems with benefits.
Paul says
Just a quick one, the administrators have said we will be paid in the next 4 weeks.
Isn’t there a way that we can raise a complaint against the administrators as they have not complied with the court order.
The court originally gave them until end of August 2019, which was then extended until end of January 2020.
As they have not complied with this ruling, as they have not issued payment, isn’t there cause for prosecution and compensation for not adhering to the date set by the court ruling?
Anyone know anything about financial law?
Sara (Debt Camel) says
a) I suspect they are OK legally as they have published the dividend amount
b) a court case would cost money and take time. neither of which seems practical.
Laura says
Paul you are getting Insolvency law mixed with criminal law. There isn’t a court order as such to comply with In the terms you are thinking. Administration is usually
Around 12 months however can apply for extensions which has happened. Quite simply it would be stated that the scale of this operation ie over 400,000 creditors has taken huge resources and taken more time. Given the administrators are working with the aim
Of maximising the creditors claims then the court is hardly going to hold them to account as it’s their job to wind this up. Sorry I know it’s not what you want to hear
Paul says
No, that’s fine. I was just curious as to how they could push it back from August until January, but then still get away with not paying it out until February (just because the money will be held in a bank, and there will be a good chunk of interest paid on £45million).
So I was only asking as they will get even more of a profit off us by pocketing the interest.
Sara (Debt Camel) says
There will be very little interest and it is not being pocketed by the administrators.
D L Robinson says
I’m no accountant and rubbish with maths but I did a quick search and £45 million in an account for one month at 1% interest would make around £300,000…not an insignificant amount?.
Sara (Debt Camel) says
I think you have assumed that 1% interest is paid each month – that would be an annual rate of 12.8%.
If 1% is an annual APR rate, it reduces to 0.083% per month which on £45m gives £37,000 in interest.
And there isn’t £45m being distributed, there is £23m. So that would be £19,000 in interest.
This is tiny for the administrators and this is NOT the reason payments are being delayed.
Dawn says
Still not received the percentage email, I’ve checked my junk file too. Had all previous emails, last one received 10th Jan.
None of my details have changed.
Anyone else still not received the latest email? My redress was £14,200 so I’m hoping they’ll still give me the 4.3%
Gary says
I’m still waiting I will phone Monday afternoon if I don’t get it.
Caroline says
Yes everyone get 4.3%
LynJ says
I haven’t yet received the confirmation email, advising of the 4.3% payout. My claim is £5131, so I am hoping for c.£220. I hope to try calling them on Monday, although I’m not sure I’ll get through. Otherwise, I guess it’s just a waiting game.
Jodie says
I still haven’t received an email , is anyone else still waiting , I got the email on the 10th Jan .
Alexander King says
I’m still waiting
Gary says
Me. I’m still waiting. Losing hope
Maz says
Still no email, regsrding % had all the others last yr seems like a lifetime ago.
GK says
Anybody actually been paid yet?
Darren says
Has anyone actually received their refund yet? I heard some people have ?
Sara (Debt Camel) says
No, It was just someone who thought it was clever to lie :(
RK says
Being frustrated by Grant Thornton’s handling of this right at the end in regards emails and payments I sent a letter of complaint to them….not that it will make any difference but I had to let them know how I was feeling
Klara says
Please folk, if you cannot wait a couple of weeks for this money you are in a desperate situation. I am not judging as I have been there many many times. I felt worried, sick, and scared. You need to seek out advice and help. Payplan took charge of my debts and a huge weight lifted of me. In the meantime go to citizens advice as there are crisis loans interest free which you may be entitled to.
Lyn says
I too went to payplan and a huge relief for me finally getting on top of it and getting rid of debt.
Rita says
I was disappointed at the least with 4.3% payout. Then it said due to a large number of people, the money will be sent within 4weeks of receipt of this email, the payout just gets further and further away. Has anyone received their money yet? If the delay is due to the number of settlements. Someone must have got their payment by now.
Sara (Debt Camel) says
No-one has been paid yet.
Jami says
In relation to not receiving your emails. To clarify with what happened with me. I registered my new email with the administrators. They sent me all emails up until the 10th to my new email. The payment email was then sent to my old email address which I had fortunately managed to reset the password to. I did not receive any email to my new email address in relation to the dividend. Therefore it is likely if you used a different email when you applied for your loans the dividend email was sent there. Hope this helps you to feel less apprehensive.
HG says
I’m guessing that my email has gone to the email account I was using when I took out the wonga loan so I’m not gonna stress. I don’t have access to it which is a pain but my bank account was correct so I’ll just wait for the money.
Maz says
Not the case with me I’ve had the same email address since day one, they just have not sent us the % email so wondering if I’ll get my payment not holding my breath.
Nicola says
Same with me I am still waiting on my % email. I ain’t holding my breath to get now
Anders says
Anyone that hasn’t had the 4.3% email should contact them tomorrow, as others had said they called on Friday and were told to call back Monday if they hadn’t received the email.
D L Robinson says
For me personally if they’re saying it could take up to one month for them to pay out then I expect it to take the full month and not a day less. They’re only paying me £62 for years of stress, worry and hardship so it won’t make an ounce of difference to me. Funny if you get bumped in a car and get a stiff neck for a few days your compensation will be around 2k…make someone’s life almost unbearable for many years for no other reason than insatiable greed and you can compensate them with £62… Not right is it?.
gary says
its been a farce from start to finish which we havnt seen yet they know most off our accounts but not even recieved the paltry 4.3 per cent should have been paid already is this company fit and proper to carry on i dont think so
Laura says
Gary come on. I keep saying this but it’s fact. Grant Thornton are a massive global accountancy firm. They operate in over 120 countries with administration just one small arm of their buisness. To question if they are fit and proper is ridiculous. Their turnover in the US is over a billion. The problem maybe is they kept people too informed and then legal delays or whatever have mean the made a bit more time. To put into context my wedding venue 3 years ago went bust my parents had already paid £20,000 anyway we got letter from administrators saying they had went into admin and the next I heard was over two years later I got a cheque in the post. Never was given dates so I never had any expectations!
Gary says
fair enough laura just lonely and frustrated with it all thanks Gary x
Laura says
You don’t need to apologise. What has happened to us all is upsetting and frustrating. Im of the opinion I’ve waited since 2017 for this refund 4 weeks more is nothing. It is what it is. A flick through here shows you the amount of people whose details have changed etc and I can imagine that’s a much bigger admin task than first realised which takes man power and time.
Chris says
I agree, Laura. GT is a respected company. Their staff on the phones are now getting lots of the aggro which Wonga should be getting and we should all try and remember that. I am owed £4300 and wll get £200. Totally unfair – but money that I genuinely wasn’t expecting. QQ is worse in my view – they pulled out to avoid paying redress. Cost me £18000. So, as difficult as it is to think like this, Wonga are, in my view, not even as bad as QQ. Silver linings…
Gray says
Petition signed, Letter sent to MP also letter sent to Financial Ombudsman, I know they can’t do anything but made me feel better.
Also just seen this – Administrator’s fees 2,200,000.00. Administrator’s expenses 29,225.32. Customer refunds 45,205.27. This was from Joint Administrator’s receipts and payments account from 31 August 2018 to 28 January 2020.
Gary says
can you reclaim from shopacheck
Andy says
Hi Gary,
Maybe best to post that here, I think they did come under a “doorstep” type lender:
https://debtcamel.co.uk/refund-doorstep-loans/
They did merge into Morses Club in 2015 from reading though. Unsure if that effects it and/or times but hopefully the page link above will cover it. All the best :)
Hazza the jazza says
It’s quite shocking how Grant Thornton have been able to mislead the unsecured creditors, their wording off to expect “significantly less” than the value of your claim, this was never significantly less, 4.3% is pretty much nothing, they should have stated your going to get buggar all, rather than stringing people along, and now after banging on, for months in e-mails about how payments would be made at the end of January, now have the cheek, to say oh, by the way now you can wait another 28 days for your pittance, if people’s come back is they have huge amounts of payments to make, them don’t commit to the end of jan in the first place, you could stick dick Turpin into gt and at least he would have worn a mask.
As for Wonga, they have got away with this, the fleecing, and ruining of people’s lives for years, when their directors made millions, I would round them up and send them to jail.
Laura says
I don’t feel mislead. My accepted claim was over £16,000. When a company enters administration they don’t have the money to keep operating. Even when they had stopped lending they still had to call in administrators because there was no money to keep rolling. Just a read on here showed the level of claims that were creeping up and surely everyone had to be realistic where was all the millions going to come from. You have to be realistic given the facts of the situation. I’m not happy with the outcome but I’m meeting with my MP. I’m lucky enough to now be debt free but it angers me the exploitation, lack of regulation and the devastation this has been allowed to cause
LOJ says
HI Laura i agree i got my email and from a claim of 6K im being awarded just over £200 its my own fault for taking them out and the fact it will be cleared off my credit history actually means more than the actual money! Its your credit rating you will need more in the future than the cash.
Dan says
Hi, I was due £1600 but 4.3% = £72.00 which when received will be better than nothing. Ironically I started down the wonga route because my dla was stopped by the government. I knew what I was doing would only get me deeper into debt but I had financial commitments,I tried to keep on top of. It was the stress i was having issues with and having money in your account within 15mins kind of gave me the escape from the stress,initially my borrowing limit was £150 that quickly rose to £1100. It was just to easy to get that money. So I guess £72.00 will be gratefully received but the government could at least match the 4.3% which is not a great amount when you think about how much some of those ministers have wasted down to their mistakes. But that is just wishful thinking.
Graham T says
Hi Sara, I wonder if you could help me? My bank kept letting me increase my overdraft a few years back, sometimes twice in a week. If they had looked at my finances properly, they would have seen I was in difficulty. Is it possible I could have a claim against them for unaffordability? If so, could you point me in the direction of a template letter to send to them?
Thanks in advance
Graham
Sara (Debt Camel) says
In here: https://debtcamel.co.uk/refunds-catalogue-credit-card/
These complaints aren’t that easy to win but two overdraft increases in a week sounds like your bank should have stopped and thought twice! Send case to Ombudsman if bank rejects.
Robert says
Guys, I’m still waiting for any correspondence by email regarding my accepted redress claim since last year!! Nothing about 4.2%, my bank details… nada!
I’ve emailed them twice with absolutely no communication!
Has this happened to anybody else? I’ve check junk email as well. I was agreed a redress of just over £2k, so I’m still expecting around £100 from these crooks.
Regards
Rob
Donna says
Hi I had the email re accepted claim, bank details last year. I too have not had this email and I’m owed around £100.
Anders says
Have you called them? If not, get on that tomorrow.
Anth says
I’ve still not received my email but I did ring Wonga up today, they had me waiting for over fifty minutes, and when I did speak to someone it was very difficult to understand him, but what I did pick up is that they are still sending out emails then it will take up to four weeks to receive your payment.
Dee says
Afternoon all…petition has nearly 1000 signatures in 3 days, which isn’t bad, however, to achieve 10,000 to gain a response from government we all need to keep sharing on our social media platforms.
I have reached out to many who have had Wonga loans, but please ask friends and family who have witnessed the effects Wonga had on you and your families to support and share too.
I have sent a complaint to the FCA, however, I didn’t bother with the Ombudsman. Would be interesting to hear what their view is. I did appeal my claim with the administrators when it was first given, however, they said I would have to take them to court. One band woman taking a big company to court for another big company ripping me off…I didn’t stand a chance.
barry says
I wouldn’t expect much of a response. They will talk about future reforms, show some faux disapproval, but ultimately will say the government will not be contributing to compensation claims.
Andy says
Well it’s got over the 1,000 milestone :)
I do not use social media but I had mentioned it to a few friends.
Dee says
Will also pay for promotion of the petition when I receive some funds. Don’t get paid until the 17th…so was hoping this money reaches my account sooner than later.
Sara (Debt Camel) says
Honestly I think that is just throwing money away.
Scott says
Hi Sara,
I think I have to agree with you.
The problem with the petition is that it is Wonga specific, it may have been better if it referenced all collapsed Payday Lenders.
The administrators for Wageday advance announced the low percentage that people will get – will someone start a new petition for those affected by them?
People still need to wait and see what Quickquid, Piggybank, Payday UK etc will be offering.
A general petition may have gotten more support as it would have received support from borrowers of different companies but I think we will see more petitions being started and people signing the one that affects them.
Many people kept their borrowing habits hidden from loved ones and friends so I wouldn’t really expect that they will share their story on social media.
Scott
Laura says
Honestly, Petitions are a waste of time. I work in the NHS and must get asked to sign at least 3 a month. Does anything ever happen? No?
Do things change when they use social media? Lobby their MPs? Absolutely!
I had a look at the petition but it looses credibility mentioning bankers and bonus and bailouts which is a total different situation to this so from the outset it’s a waste of time.
I emailed my MP and she asked me to come into the surgery and see her. MPs looking to make a name for themselves is exactly what we need to take things forward and raise questions that way!
Anders says
Exactly. It seems people think that petitioning the government will get them more money, but don’t realise that’s not realistic, as the Wonga pot has already been split, and money doesn’t come out of midair.
All it can do, and this isn’t a bad thing, is draw more attention and tighter regulation to the industry (although there already has been some of this in the last few years anyway).
Dawn says
I also wonder at what good it will actually do. If the government did step in with Wonga, they would have to with every payday lender and they won’t do that I wouldn’t think.
Andy says
Well there is that, info see what you are saying I think in tat it might “open the floodgates” ?
I do feel a large proportion of the blame here for not getting full redress (or at least something near full) , the fault does lie with the regulators ergo the government who afaik are able to oversee them.
It is they (as I see it, perhaps rightly or wrongly) who sat on their hands and allowed such practices to take place and/or continue.
I’m sorry I do not know the correct abbreviations or terminology to use as this is not my area at all, but I hope the above does make some sense and is reasonably valid and logical.
As Sara mentioned elsewhere on this page it was about a year since the last meeting on this erm “subject” and back then there were not as many complaints :)
Point being as I understand it no action was taken ( ? ) to cover the payday loan market, at least if it was PBA or PPI you would be covered.
Should add despite my own situation being actually bad, I do manage just currently. My due £16 is bad but more than some are getting ( :( ) going from a few pages of people’s posts.
Sara (Debt Camel) says
Wonga was a large lender. The bill from most other lenders is likely to be smaller.
Timbouk says
So are we expecting people to start receiving funds tomorrow ?
Sara (Debt Camel) says
No one has any idea. People may hope this will happen but there is no suggestion that it is going to start tomorrow.
Anders says
They said in the next 4 weeks. Anything else is pure guesswork.
I’d say to not plan to have it, until the end of the 4 weeks, that way, if it comes in sooner, it’ll be a nice surprise. Otherwise, you’re going to just frustrate yourself and drive yourself mad frantically checking your bank balance.
Vicky says
Hi Sara
Are outstanding balances with wonga wiped clean? Sorry if already been discussed
Sara (Debt Camel) says
I now have this confirmed from the administrators.
The balances are not being wiped. But you are no longer able to make any payments to this, The loan is not going to be sold, so you don’t need to worry about debt collectors, court cases or bailiffs. It will remain on your credit record for 6 years from the default date on your credit record. Have you checked what this default date is?
Adrian says
HI Sara ,
My remaining loan was one of the ones accepted as being missold and should be removed but theres still a balance. I’m I doomed to have it outstanding for the next 6 years
E says
I had outstanding balance so contacted TransUnion disputing the default – they queried it with Wonga who never responded so it has been removed completely from my credit report.
Richie says
Having only been offered £26 myself which is a disgrace I took time out to read the timeline of events and took on board a reply from Michelle on an earlier post. A few things puzzle me.
1. Upon receiving the initial claims Wonga allocated £45mill to settle claims. There was no talk of Wonga being in a precarious financial position, nor any mention of going into administration so I assume that their finances were healthy. Healthy enough for business to continue.
Was only after 500,000 claims were received that they went into admin due to enormity of legit claims but they were still financially healthy. Question for the administrators is where are the finances? Knowing more money was available, why did they stick to the same figure of £45mill for redress that the board had allocated earlier knowing full well that even the Wonga board knew it was insufficient to pay the creditors (us). Why inform us that there was no other monies available apart from the £45 mill when there clearly was.
2. Claims with outstanding loans were settled first using the £45m leaving £22m to settle remaining claims at 4.3% as that was all monies available. However the administrators state that besides the allocated £45m which was used to settle claims, the issued an update stating they had collected £23million. Why was this not added to the monies available for redress?
Theres more
Sara (Debt Camel) says
I am sorry that it is complicated but what you have written seems to have confused a few things.
When Wonga went into administration there were 24,000 claims awaiting a decision by Wonga and 9,500 claims with the Finacial Ombudsman. All the rest of the complaints were sent into the administrators.
The £45m in the directors statement for redress claims was an estimate. It was not money set aside. There was only £16m in the bank when Wonga went under.
All the money that the administrators have collected from loans being repaid and sale of assets has gone into the pot. Preferential creditors have been paid first. What is left (minus money needed to complete the administration) is divided between the unsecured creditors including people with accepted affordability claims.
Ian barrow says
Do you think no payments will be made until all emails are sent?
Donna says
I havent had my email but had all my other emails early as everyone else who has had there emails already had.
Ann marie says
I haven’t got my email yet.
Sara (Debt Camel) says
The administrators say everyone has been sent an email. So they obviously aren’t waing to finishe sending them before paying as they think they have already done that.
Anyone who has not had the email, check your junk/spam/trash folders
If it isn’t there, contact the administrators at customercare@wonga.com or on 020 7138 8330 and ask them to confirm that you are going to be paid.
S W says
I’ve emailed my MP, Theresa May. Unfortunately the email is too long to publish here, but I outlined Wonga’s failings and asked her to look into better regulation of the payday loan industry (or even shutting it down altogether) and possible compensation for us…
Recieved a prompt and polite response from one of her colleagues this morning saying:
“Theresa would be happy to raise my concerns with the relevant minister “.
So, in light of this. Email your MP!
Mark says
Does anyone else live in the Southport Area? I emailed my MP Damien Moore Last week and have not had a reply back. I see a lot of other MPs have actually responded to other constituencies so just wondered.
Joseph says
Hi Mark, I feel you! I live in the Liverpool Riverside region and our MP was changed at the last election, still not had a reply back in nearly 2 months! I might give her another email now after you’ve reminded me.
Laura says
When did you send it last week?
Mark says
Thursday I emailed. I got an automatic response but never heard back.
Andy says
I think it might be reasonable to allow them a good week or so to reply.
I think a lot of it may come down to how busy ( or efficient ) their admin staff are assuming someone is initially checking mail for them to organise it.
Realise some may prefer to do this themselves though. It may simply be a case of the MP not having read it yet.
Stuart says
Theresa is notoriously incapable lol
Good luck with that
Andy says
I think it will be interesting to hear what is said in Parliament about this as the Wonga debacle has brought the PDL issue back.
I’m not really expecting to hear much if anything in “The House” this week though, next week seems a bit more practical as hopefully by then quite a fair proportion of MPs will have had correspondence from their constituents ( us! ) about this in general.
With a modicum of luck some may of had a few dozen or more letters/emails from different constituents too which ought to if not create a “light bulb moment” at least give said bulb a bit of a glow.
I’d not expect anything to happen for a while “action wise” though, governments are not usually known for speed. But if something positive and helpful does appear on the table eventually so much the better.
Anthony Leccacorvi says
I contacted wonga this morning . Told them I haven’t received my final email . He took my claim number and checked . He told me how much I was getting and said there are emails still being sent out . It takes about an hour to get through but it’s worth the check .
Ian says
Why is this being just allowed to happen people have not even had their redress email grant thornton took 2.2 mill out of our pot they said payments by end of jan now it looks like end of feb and beyond once again we have just been held in utter disregard why is knowbody stepping in to sort this i know its been a massive job etc etc but they are a big firm and obviously cant cope
LynJ says
That’s really helpful, thank you. I haven’t received my final e-mail yet. I’ll try and check this afternoon when I get back from meetings. You’ve set my mind more at rest.
Pete says
Is there any record of anyone having received their money yet? I’m still at a loss to understand how on January 10th GT informed everyone that they would receive their refunds by the end of the month, yet 20 days later they they needed another month. What happened?
Alice E says
I think as soon as someone does we will hear the cheers from all over the place! Would it be worth raising this on a GT Twitter thread? I don’t think we can overestimate the effect it’s having on many of us. All the rest of the waiting was frustrating but we put up with that as they were apparently doing their job and following due process. That we now have to wait a possible 4 weeks is like a kick in the teeth, and very upsetting as we were informed – through various sources: people making calls, emailing and the emails from them – that we would be paid by end of January. For them to not even come out and acknowledge this is very upsetting is having an impact on the health of those of us who were relying on that money to pay bills etc.
Jane says
I think we should all do what we can. It is disgusting. We still don’t know when we are going to get it and I don’t buy the excuse of ‘due to the number of claims’. They have know this number a long time. I have emailed my MP and Daniel Smith, one of the joint administrators urging them to speed this process up. I doubt I will get a reply from either but just needed to vent my frustration.
Alice E says
Keep us updated, Jane x
KellyE says
I received my “dividend” email, on 29/01/2020….my redress was £6k+, I will receive WITHIN 4 weeks £277. Like everyone else I’m gutted, I would’ve at the very least have expected 10% or at the most 1/3.
The reality is I’m free of the constraints of payday lenders, with much sacrifice and shame I spoke to no one, I went without food, gifts for my family, avoided bailiffs, did not respond to utility providers….just hoped, hoped I’d get through a day, then a week, then a month…..my position today is better.
I’m paying off (and almost finished) my arrears with utilities provider, I’ve begun paying £100 pcm toward missed years of council tax (I owe them thousands), I am free of rent arrears.
The payment from this “redress” (when it arrives) will go into a saving for my grandson, so he can have a start (as little as it is).
A little more than what I’m being sent, would’ve made me almost debt free!
No matter how others frame this, despite many of us borrowing at the time it made sense, many just needed to get over the austerity bump, while everything else was increasing in price and wages remained stationary….some of us are on the other side of the nightmare, not with the help of payday lenders, but through resolve; sacrifice and for some, help from DMP.
Sara……thank you for this site, the information and even comments from other users, has been invaluable. You have helped so many more than you realise. Thank you x
Jock thomas says
Good luck for the future
Ivars says
I haven’t received email.I that’s very unprofessional to say one thing do onother. Does anyone knows how long QQ looks into complain. As I received email from them that they look into it?
Sara (Debt Camel) says
please ask on the QQ page https://debtcamel.co.uk/quickquid-casheuronet-administration/
Sara (Debt Camel) says
The administrators say:
– everyone has been sent an email
– if you haven’t had one, check your junk/spam/trash folders
– if it isn’t there, contact the administrators at customercare@wonga.com or on 020 7138 8330 and ask them to confirm that you are going to be paid.
Lynne says
Just got this reply from Grant Thornton when I asked why we had to wait another month ..
Hi there, as I hope you can understand, the administrators are processing a very large volume of information in helping creditors like yourself understand the dividend payments they can expect to receive. Given the volume of transactions that need to now take place, the administrators cannot guarantee an exact date when you will receive payment, but are aiming to complete transactions within the next four weeks. During this period, the Customer Care team will be available on customercare@wonga.com or 0207 138 8330, if you had any further questions.
Sara (Debt Camel) says
so blah…
RK says
I’ve just sent a tweet to them, don’t know if it will be read by the relevant department, but someone will.
If you’ve got Twitter please do the same.
They might respond to someone.
Kyle says
I appreciate a lot of people are upset but GT has over 400,000 people to payout. This is far from a small task, I expect most will be paid before the 28 day deadline but I can appreciate that they can’t give everyone a specific date.
Laura says
I agree with you. For anyone relying on the money (and I’ve been there) the reality is the situation will be the same the next month and the month after. Use the time to confront your finances and move to make the changes to move forward. Don’t stress yourself it will come it’s just a matter of when but guessing, speculating and emailing it’s absolutely pointless at this stage
Sam says
I’ve just had an infuriating response from my MP saying she was going to ‘Raise my case with the Chief Executive of Wonga’.
I don’t think she’s even aware or cares what’s going on.
Sara (Debt Camel) says
I suggest you reply that the company has gone under and you would like her to raise the matter of proper compensation in Parliament.
Sam says
This is what I asked her to do in my letter. I even stated the amount I got back and that thousands like me that had lost out and were miss-sold loans. She asked me to elaborate ‘why I sought compensation from Wonga’?
Sara (Debt Camel) says
I suggest you say it was an affordabilty complaint that wonga broke the regulator rules by giving you so many loans you could not afford and send her this link to a nice ombudsman page which explains what these complaints are: https://www.financial-ombudsman.org.uk/businesses/complaints-deal/consumer-credit/unaffordable-lending
chris says
I phoned WONGA regarding payments, apparently payments are being made in batches, as they cant all be done at once, APPARENTLY payments have started already. i dont know how true that is.
Al says
How can so many people be told differing things from the same phone number? Most are saying 4 weeks. I hope they start making the payments soon as they told you. Best not hold of breath. Talk about being let down
Ryan says
Literally just received my email, so anyone still waiting they are coming
Jeannie says
Just received mine too.
Gary says
I’m still waiting for the email. Hopefully soon can’t be bothered phoning and being on hold for ages.
Nicola says
I got mine not long ago. Hope urs comes soon
rachael says
Glad to hear people are now getting their emails….. hopefully this is the start of them finally sorting things out and HOPEFULLY we may get some people being paid what they are owed this week….. we can only hope!!!
Colin says
Fingers crossed they get the emails out then crack on with sending out the money asap!
Kim says
Hopefully get mines soon then 🤷🏼♀️
Jane says
This nonsense from Wonga has spurred me on to claim redress from other lenders before they all go bust. Thank you Sara for your hard work. The email addresses of lenders are a godsend. 😊
Nats Daley says
Me too although I missed the deadline for wage day advance and 247 moneybox sent me an email a month before going into administration saying they didn’t owe me a thing..
So I decided to still email and ask anyway…
Paydayuk payday Express part of the money shop sent me claims portal email ..
I’ve had a loan with provident which was years ago but now motivated to ask ..
And as you said thanks sarq5for showing me I have the right to claim even if its not successful stand up for yourself…
Gary says
Hope it’s today or tomorrow.
Anders says
I would say that you’re better off not expecting it until 28th February, as that way, you’re not going to get stressed out if it’s not paid in by Friday. It will probably be before 28th Feb, but at least it will be a nice plus if it comes in before then. ☺️
If you’re desperate for the money sooner, then please seek help from CAB, or another service that can help with financial struggles.
LynJ says
So, after trying to call on the 30th and 31st Jan – and giving up waiting, I finally got through to a customer service representative @ Wonga this afternoon after waiting on hold for just over an hour. He advised me the e-mail advising a 4.3% payout was issued automatically from the administrators last week – I have never received this. He couldn’t send me a copy of it, but was able to confirm my correct bank account details, and the amount of payout. So, I’m working on the basis of 28 days from 31st Jan….
Alexander King says
After being on hold for just over an HR my divided is £43.60 from £998 awesome 😄 bank details correct and gotta wait 4 weeks. They didn’t understand why I haven’t received my email.
John says
Just got off the phone. Wait time not as bad as expected. 35 minutes! Had no email but am due a rebate / payment so hang in there if you haven’t heard back yet. Good luck every body hope you all get something 😀
Christopher Cook says
What is going on with wonga claims. Very poor handling of this so all through Jan waiting for e-mail to confirm / change bank details. Never got e-mail then on Thursday got my e-mail stateing the crap compensation originally around £4440 now meant to be getting around £190. Then today I get email asking me to confirm bank details or change them and that my payment will be sent out before January 31st. I know I’m a bit stupid for taking out these loans but I thought we are in February. Don’t think I’m putting much trust in Grant to pay me ha.
LynJ says
If you’ve received an email today asking you to confirm your bank details, it may be a junk/phishing message – as Wonga/GT aren’t making any changes to bank accounts now – as far as I’m aware.
Take care opening any links included in the message.
Terry nicholls says
I understand we are mostly not happy with the payouts, but we need to remember, people have lost their jobs, not just the directors but call centre workers, cleaners, minimum wage earners. Most of use would not be havung a payment, if it had not been for this site.
S W says
They all knew what was going on. They were happy to give us loans which were clearly mis-sold. They were extremely unhelpful, rude and in some cases threatening/aggressive and put pressure on customers who couldn’t afford to pay. They MADE UP debt collection agencies/law firms to try and bleed people dry. We paid them, as far as I’m concerned, with our (misguided) acceptance of these loans.
So, no, I’m not sympathetic to these parasites.
Ilona says
https://www.change.org/p/boris-johnson-for-the-government-to-fully-compensate-victims-of-wonga-ltd/u/25690186
Petition For the government to fully compensate victims of Wonga Ltd.
Anders says
I’ll be honest, that’s totally unrealistic. Where do you think the government is going to get money from?
At best, all that can do is tightening regulation, so this cannot happen again.
Simon says
Finally received my Wonga email today with the inevitable 4 week lottery wait
I suppose it gives me time to find a solid investment banker to discuss such a large windfall 😉
Sara (Debt Camel) says
love it!
Marcy says
No email so far :(
Anders says
You can call them, as per the other comments, other have, and had their claim confirmed and that emails may still be coming through, but either way, if they confirm on the phone, then that puts your mind at ease. :)
Sara (Debt Camel) says
The administrators say:
– everyone has been sent an email
– if you haven’t had one, check your junk/spam/trash folders
– if it isn’t there, contact the administrators at customercare@wonga.com or on 020 7138 8330 and ask them to confirm that you are going to be paid.
Saleh says
I still owe them £326 what should I do? Should I not repay them back?
Sara (Debt Camel) says
You can’t repay this now.
The loan is not going to be sold, so you don’t need to worry about debt collectors, cort cases or bailiffs.
It will remain on your credit record for 6 years from the default date on your credit record. Have you checked what this default date is?
John says
Can I just check, those were paying back are going to default on payment because the administrators have stopped taking payment? Surely they cant put a black mark on someones credit file due to their issue?
Sara (Debt Camel) says
These remaining debts are all a minimum of 18 months old, most over 2 years. They have already defaulted.
Wendy says
Hi all
I had a email from Wonga about updating bank details and sending pic of bank card and ID. It’s weird because I updated my details in November when you could login through a link that was send. When I phoned to say I have not received the dividend email, my bank details were correct. I am not going to do anything about this as says you do not need to do anything if correct. This this a scam or not? Link is —————–. I already been caught out recently for £30 entering in my card details through a third party site for done thing completely different. Strange if genuine that it has only come through now but still not had the dividend email.
Peter says
I checked my details back in November to make sure email and bank were correct. I never had the “check your bank details” email, and today had my dividend email, so I would sit and wait. That website link looks strange given they’ve stopped updating bank details.
Sara (Debt Camel) says
when did this email arrive?
Wendy says
Hi Sara
Email arrived at 19.03 yesterday, it looks genuine but not sure about the link. I confirmed bank details were correct over the phone on Friday. They said they would arrange for the dividend email to be sent but perhaps this was sent in error.
Sara (Debt Camel) says
ah yes that may be the reason!
Jen says
I’ve forgotten to update my bank details as the account they have has been closed for years. I’ve just emailed them but the reply says it’s too late to change details now. What can I do about this please?
Anders says
There was mention that they can send a cheque, but the only thing you can do is call them to sort it out. No-one on here can tell you anything, other than that.
Julie says
Hi can anyone explain why my original email said I was due 8200 but the email I have since received gave figure of 526 and payment of 25 pounds?
Sara (Debt Camel) says
It is possible – but you will have to contact customer services to be sure – that this is an extra small amount that the Administrators have discovered you were owed by Wonga and that you will also get 4.3% of your redress.
Steve says
I made my initial complaint to Wonga four months before they went under, they kept stalling saying they needed more time 46 days at one point. Then I was made an offer of £126 for one lone of 33. In total I had loans totalling around £12000 plus from Wonga yet they stated only one was given in error. I am noW being offered £96. This is an absolute disgrace. I wonder how many loans the executives took out and what payment/ bonuses they paid themselves and the share holders before going under. I bet the money was well syphoned out of the company
Em says
I think it is disgusting how little people are getting, baring in mind people only took these loans in the first place because they desperately needed the money. To then receive barely any of what they are owed, yet the creditors/administrators/banks/grant thornton, recieve their full payments & owed balances before the customers, leaving the ones who need full refunds 95% short, is awful. Grant Thornton alone got £3m for working this. Why don’t the businesses get 4.3% too? What about all the loans still outstanding? Will these people get away with not paying them back, saving themselves hundreds or thousands in repayments? Surely the money still owed could be used to give more back to the customers that are owed it. This all seems so unfair and wrong yet we can do nothing but accept it. At least the banks and legal teams got everything they were owed though, I’m sure they really needed the money.
Sara (Debt Camel) says
I think it’s disgusting you are getting so little, but it is the fault of the regulator who allowed Wonga to break its rules for so many years and has not provided a proper compensation scheme when a lender goes bust.
It isn’t the fault of the administrators or their lawyers etc. This is their job. Many administrations return little money to creditors. If the administrators didn’t get paid in full they would not do the job and you wouldn’t be getting anything.
And the remaining loans are more than 2 years in arrears. The administrators have taken the practical decision that it would cost too much and take too long to try to get more if it repaid given that most of the people owing money are very likely to be “can’t pays” not “won’t pays”.
Louise says
Sara,
Why and how is the regulator getting away with this? I haven’t seen any comment from them, they appear to be silent on the Wonga issue. It seems to me that they are allowed to fail in their duty and are accountable to no-one. How is this possible? Have they broken a law? This is a perfect example of how those with fewer economic resources and lower income earners in UK society are disregarded and exploited in favour of elites and large institutions, and left with nowhere to turn.
Sara (Debt Camel) says
I suggest you complain to your MP and make this point. Email them simply through here: https://www.writetothem.com/
Laura says
Everyone feels the same. But your redress isn’t calculated on the value of the loans it’s the interest and charges on the loans. If that was the case I would have been over £60,000 ! As I had a loan every month for almost 5 years, more fool me
Craig B says
Hi I’ve had my redress amount sent in email 130 for over 3000 :( I’ve got the same bank account as I sent them but have had a new cash card it’s just making me wonder why I had to send picture of my card as well it won’t be sent to my cashcard the money will it and will be sent to registered bank account, I can’t get though to them to check this. Thanks
Sara (Debt Camel) says
the money should go to your bank account as far as I know.
Ian says
Sara why have people not started receiving payments yet??
Sara (Debt Camel) says
because the payments haven’t started being made by the administrators. Everyone here saying they think they will start paying from yesterday is guessing. You cannot rely on getting any money until the end of the 28 days.
Ian says
I cant get my head round it that people have had their redress amounts the administrators have bank accounts to pay money in why are they waiting their must be a reason ok some people havnt had their redress amounts but that shouldnt stop them gettin through makin payments
Sara (Debt Camel) says
whatever the reasons are, people should not rely on getting paid this week or next week.
I know this is very annoying and some people desperately need this. But that doesn’t change what is going to happen.
Adam R says
I have just spoken to Wonga as I still haven’t received my dividend declaration email. It took 30 mins on hold but they confirmed my redress of £366.79 and said that the emails were being sent out in batches of 1000-2000 and that it would be 4 weeks from when I received my email. I can’t believe communication has been so poor – it is as if they don’t know what they are doing :)
Ian says
So sara is this correct i owed £200 which i cant now repay through them not accepting payments not through me not being able or refusing so i will get a default showing on my credit record for 6 years?
Sara (Debt Camel) says
No that isn’t right. You said your calculated redress was £5800. £200 of that should be used to clear your balance and the loan should be deleted. You need to phone the administrators and ask what is happening.
Ian says
Ok will do thanks
Daisie001 says
Sara are they allowed to stretch out the payment process beyond the 4 weeks that they say it will take?
Sara (Debt Camel) says
I don’t think they are going to. The administrators want this closed down as fast as possible.
Hazza the jazza says
What this about getting 4.3% plus an additional amount?
Sara (Debt Camel) says
The administrators discovered that a small number of people were owed money by Wonga eg they had overpaid on an old loan. These amount sare being refunded in addition to the calculated redress amount, again people are only getting 4.3% of the new amount and it is usually small.
You can assume you aren’t affected if you haven’t received an email about this.
Atuet says
So no emails re my redress. Telephone calls unanswered. Emails just get a standard response. My question is if i hear nothing and my claim just gets forgotten despite it being with FSO and being registered are Grant Thornton negligent? Do they have a duty of care to creditors and is missing my claim a breach of it?
Sara (Debt Camel) says
As I can’t guess what has happened I can’t really say anything except repeat the suggestion that you should email the administrators or phone them up. I don’t feel it is a good idea to do nothing and assume that if there had been an error you can later get this corrected if you are not paid your small amount. Sorry.
Fiona says
Sarah I am genuinely not being awkward but you always seem to believe that the administrators are always right. Is it not possible that with their workload they could be cutting corners. I just don’t feel it’s fair that some people are still waiting for emails. Why should they have the extra worry ?
Sara (Debt Camel) says
I said “I don’t feel it is a good idea to do nothing and assume that if there had been an error you can later get this corrected”
That is obviouly not assuming the admistrators are always right!
Clearly it is not fair that people are waiting for their emails. But me saying that doesn’t really help much, does it? I am just trying to suggest what people can do at the moment.
Maz says
I’ve just called waited over a hr.
But worth doing as not received my % email, I did it because Sarah advised this & glad I did as I’ll be getting ,£245.48 my mind is at rest just be patient & wait for the money now we will all get it eventually.😀✌ % emails still being sent out thr adviser told me.