Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k custs

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

lol, except its smaller

Not actually, just looks it if you view it on twitter.

[Guest]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Were very sorry :tinysmile_cry_t:

• Important customer announcement – We are sorry
  
  Dear Wonga customers,
  
  We are issuing a public apology following an announcement by the Financial Conduct Authority regarding the following two issues.
  
  Historical debt collection issues
  Between 2008 and 2010, we sent out letters to 44,556 customers claiming to be from companies “Barker & Lowe” and “Chainey, D’Amato & Shannon”. These letters were in fact from Wonga. They gave the misleading impression that customers’ outstanding debts had been passed on to a law firm (or other third party) with the threat of adverse consequences if the debts were not repaid quickly. Charges were added to some customer accounts as a result of this practice.
  
  This practice was unacceptable and should never have happened. It ran contrary to the principle of transparency on which our business has been built.
  
  System errors
  Following an internal investigation we have also identified certain system errors, which resulted in the miscalculation of some customers’ balances. Some customers overpaid Wonga whilst a greater number underpaid, with the majority of those customers who overpaid Wonga, overpaying by less than £5.
  
  All known balance calculation issues have been addressed. For existing customers, where they have overpaid Wonga this will be repaid with interest and those who underpaid Wonga will not be asked to pay the shortfall.
  

  
  

Oh well that's alright then.

Not by a long shot

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

I've removed the links off that andy, http://www.legalbeagles.info/forums/...ogy-from-Wonga - original https://www.wonga.com/apology.aspx

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

To collect debt you need to have Debt Collection on your licence, as you do if it is a trading name.

Don't have those, you are committing a Criminal Offence.

In this country you cannot make a profit out of a criminal offence, therefore the implications speak for themselves. Nobody seems to be making much of the breaches in the CCA, their Licensing requirements or the effects on any litigation undertaken whilst committing a criminal offence....there are so many knock-on effects which need stripping down to the core and then examining the legal implications attached.

They use the law to enforce these friggin things, where is the law to seek remedy? - Not up at the OFT or FSA that seems apparent!

A1

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Firm name: WDFC UK Limited
Interim Permissions reference number: 611974


WDFC Ltd - wonga.com, Paylater, wonga.com, paylater.com, Paylater, wongaforbusiness.com, paylater.com, Wonga.Com Limited, Wonga.Com Limited, Everline, wongaforbusiness.com, Everline, Invest And Borrow, Invest And Borrow, Investandborrow.Com, Investandborrow.Com


also

Wonga Decisions Limited
Wonga Group Limited
Wonga, Flexiblecash, Samedaycash
Wonga Technology Limited
Invest And Borrow, Investandborrow.Com
Wonga.Com Limited
Sameday Cash, Paylater.Com, Paylater
Samedaycash Limited

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

DG Solicitors aren't on HSBC consumer credit licence (and they aren't a solicitors firm)

Firm name: HSBC Bank Plc
Interim Permissions reference number: 006343

First Direct Mini Cash ISA, HSBC, Midland Bank, Www.Hsbcpremier.Com, Www.Hsbcadvance.Com, Www.Firstdirect.Com, Www.Hsbc.Com, Www.Hsbc.Co.Uk, Investdirect, HSBC Bank, First Direct smartmortgage, First Direct Personal Loan, First Direct Credit Card, HSBC Premier, First direct online sharedealing, First Direct Gold Visa, Midland, HSBC Private Banking International, First Direct, First Direct Everyday Savings Account, First Direct Classic Visa

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Blair Oliver Scott ???? I can't find any CCL for them. and they aren't a solicitors firm.

Bank of Scotland Plc Firm name: Bank of Scotland Plc
Interim Permissions reference number: 593292

EC2V 7HN /
EH1 1YZ

Hydro Longship Finance, Hutchinsons Spectrum, Home Shopping Personal Finance Preference Account, Inchape Financial Services Preference Account, J & J Collections, International Motors Finance Preference Account, Keyloan, Kays Lifestyle Preference Account, Lifestyle Loan - Gus Home Shopping, Lifestyle Loan - Kays, Marshall Ward Preference Account, Morgan Financial Services, NFUMF Revolving Machinery Account, Noble Finance, Perodua Financial Services, Preference, Preference Account, Scotgrain Premier, Sainsbury's Bank Drive, RFS Preference Account, MG Rover Contracts, MG Rover Finance, Maxcar Finance Preference Account, Masstock Elite, Maserati Financial Services, Bank of Scotland Vehicle Finance, CIOB Professional Advance, Classic Combination, Bank of Scotland Mortgages, Bank of Scotland, Bank of Scotland Preference Account, TVR Reflex, TVR Financial Services, Accountancy Busniness Services, Yourautochoicefinance, Ssangyong Financial Services, Tata Financial Services, Sterling Visa, Spectrum Mortgages, Spectrum Cheque Account, Spectrum, Homag Finance, Halifax, Marubeni Komastsu Finance, Marubeni Komastsu Construction Equipment Finance, First Retail Finance, Empire, Grattan, Mytravel Financial Services, NFU Mutual Finance, Norwich Union, Pet Plan Equine Finance, Portman, RCI Highlife Personal Advance, Prestige, The Store Personal Loans, Scottish Gas, RICS Professional Advance, Carbon Card Services, Choice Lifestyle, Fashion World Personal Advance, Ambrose Wilson Personal Advance, British Gas Reserve, AA., Admiral, Komatsu Finance, Leeds and Holbeck Building Society, KPM Finance, Kaleidoscope, Home Choice, Portman Building Society, NPA Professional Advance, Look Again, Norwich Union Direct, Telegraph, AOP Professional Advance, BMA Professional Advance, British Gas Financial Services, British Gas, Scottish Gas Reserve, Simply Be, Staffordshire Building Society, St James's Place Private Bank, Solicitor Professional Advance, Shoe Taylor, The Exclusive Card, Canded, Cheshire Building Society, West Bromwich Building Society, Readers Digest, Performance Direct, Freemans, GUS Lifestyle, First Financial, Diners Club Personal Advance, Countrywide Assured, Bank Of Scotland Private Banking, Winterthur, Ldf Professions, Ssangyong Finacial Services, Dealer Finance, Mha Collections, Www.Bankofscotlandbusiness.Co.Uk, Bls Collections, Www.Lloydsbankwholesale.Com, Lloyds Bank Corporate Markets, Lloyds Bank, Www.Sjpbank.Co.Uk, Www.If.Com, Www.Bankofscotland.Co.Uk/Corporate, Www.Bankofscotlandprivateclients.Co.Uk, Capital Bank Business Finance, Capital Bank Agriculture, Capital Bank Leisure, Capital Bank Extra, Capital Bank Motorcycles, Capital Bank Motor Cycle Finance, Capital Bank Motor, Capital Bank Marine, Cargill Concept, Capital Bank Vehicle Management, Caravan Finance, Connections, Daewoo Truck Finance, Carrs Finance 2000, Choice Lifestyle Preference Account, Cargill Three Six Five, Bank of Scotland Ireland, Ferrari Maserati Direct, Ferrari Maserati Financial Services, Ferrari Financial Services, Dalgety Gold Account, Fieldcare Agri-Flex, Finax, Finax Direct, First Retail Finance Preference Account, Finax First, Gus Lifestyle Preference Account, Intelligent Finance, Birmingham Midshires, Colleys, Colleys Professional Services, Bank of Scotland Investment Service, Paramount Bank, St James's Place Bank, H2X, Brown Butlin Harvest Plan, BOCM PAULS Excel, Burgess Flexible Options, Capital Bank, Bank Of Scotland Vehicle Management, Birmigham Midshires Personal Loan, Black & White, Autoby Tel. Co. UK Business Finance, Bank of Scotland Asset Finance, Bank Of Scotland Direct, Bank Of Scotland Marine Finance, Bank Of Scotland Management (Ireland), Bank Of Scotland Trustee Services, Crane Credit, Bank of Scotland Dealer Finance, AA Account, AA Visa, Auto By Tel Motor Finance, Auto By Tel. Co. UK Motor Finance, AA Visa Card, Agtek Approach, Credit Care, Dunfermline Personal Loan, Fifty Plus, Forte Gold Advance, HBOS Card Services, HBOS Personal Lending, Hitachi, J D Williams, Kays Lifestyle, Select Benefits, Skipton Building Society, Whale Finance, Private Banking, Premier Man, Personal Advance, Newcastle Building Society, Mytravelco, MU Finance

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Firm name:		Student Loans Company Limited
Interim Permissions reference number:		294229

Registered Name	Student Loans Company Limited
Previous Registered Names
Trading Names	Smith Lawson & Company

Same on their previous CCA with the OFT.

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Firm name:		Student Loans Company Limited
Interim Permissions reference number:		294229

Registered Name	Student Loans Company Limited
Previous Registered Names
Trading Names	Smith Lawson & Company

Same on their previous CCA with the OFT.

So they might get away with it?

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Added back in 2005?

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

So they might get away with it?

From the perspective of a credit license anyway.

Assuming no letters pre-date the 2005 date they were added to the CCL.

My letters date to 2007.

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

11th May 2005

[andrew1]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

From the perspective of a credit license anyway.

Assuming no letters pre-date the 2005 date they were added to the CCL.

My letters date to 2007.

..but does the licence allow Debt collection Activities?

They can collect their own debt in their own name, but add a name, that's a different situation altogether.

[Amethyst]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

Blair, Oliver And Scott Limited 133457

but nothing on FCA at all.

[Nibbler]

Re: Wonga to pay redress for unfair debt collection practices – FCA - £2.6m to 45k cu

The OFT licence says:

Categories:

Consumer credit

Debt administration

Debt collecting FCA says Permissions Firm name: Student Loans Company Limited Interim Permissions reference number: 294229 Consumer credit business Entering into a regulated credit agreement as lender; and exercising, or having the right to exercise, the lender's rights and duties under a regulated credit agreement. Active Debt administration Debt administration Active Debt collecting Debt collecting Active No right to canvass off trade premises