Wonga writing off all debts over 29 days in arrears.

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Flavonoids said:
Lent the money by a company that did it regardless of the persons obvious inability to repay.

It doesn't affect me, so I can't really get bothered about it, certainly not envious that someone with no money still has no money but doesn't have to pay back a ridiculous amount of money they don't have because of Wonga's dodgy practices.
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This
 
Wonga lent money to my son when he was a student and had used all other sources of finance up so had no more income and no ability to repay. Yes he should not have applied to borrow money but how the fuck can a company lend short term to someone with no income?
 
neiluk1985 said:
Free money for 330,000 people who can't, or refuse, to take responsibility for their finances :rolleyes:
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Got a mate who twice got himself up to 15 Clem of debt. His mother bailed him out both times. Third time he got one of those IVA deals (is that the right term?) means he only pays back a proportion and gets away with the rest. He got made redundant from work and found a new job but he didn't declare the extra money (which would have covered the amount written off). My point is, it's no wonder this happens if the people involved get free money with few consequences.
 
And all the debts they have sold on?

...Still being chased by the carpet baggers that bought them.

Its only the debts still in Wonga's ownership that are being written off.
 
Mark E Smith said:
So you're advocating mis-selling of useless insurance polices and loans that are essentially usury ?

Do you actually think that people took out these loans thinking they wouldn't have to pay them off ?
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Not everyone, but I reckon a sizeable amount of people will have had 0 intention of paying their loans back. Wonga have been stupid to lend to these people but the attitude of some is shocking! From the BBC...

BBC said:
One Wonga customer from South Yorkshire told the BBC that Wonga's credit checks had been "poor at best".

"I'm currently in arrears of £564 with Wonga for a loan that started in 2012. I got caught up in the whirlwind of being able to have money deposited in your account within minutes.

"I was allowed to exaggerate my income on the application forms. They weren't checked to be sure that I wasn't giving false information. I should never have been lent the money."
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:eek: :oops:
 
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