Hello! Another newbie needed any help that can be given!

[ptingtong]

hi,
I have been a browser here for a bit seeing how people have been helped with debt issues etc.
My main issue at the moment is for a Pay day loan i took out with Wonga, since i took out the loan i have had a relationship breakdown and a decrease in working hours, so obviously i dont have the money to pay them back.
I have sent them numerous emails and have now written to them to tell them i am looking at a debt management plan with StepChange.
Today i have noticed that they have been able to take money out of my old Santander account, in several transactions totally £95, i spoke to the bank who were not very helpful.
Any advice would be gratefully received.

[labman]

Re: Hello! Another newbie needed any help that can be given!

The first thing you need to do is cancel the Recurring Payment Authority with Santander - do it verbally, backed up in writing. Wonga shoul not then be able to take money out of your account.

Next write to Wonga with your Income and Expenditure (some on here will rightly say you don't have to provide this) and state you cannot afford to pay them back in one go. Ask them to freeze all interest and charges in line with the OFT664 Debt Collection Guidelines (Revised November 2012), then repay the loan plus one month's interest at a sensible rate you can afford. Do not miss any payments.

They are likely to refuse and threaten all sorts. Let them - as far as I know they have not yet won any court cases because of their mad rate of interest.