Wonga confirm final payout on #WongaWednesday
Wonga finally pays out! 15th May 2020
Finally this week I was paid!!!! What a payday loan journey…
Update Thursday 23rd April 2020
Wonga’s administrators have now winded down all customer care operations. I am still waiting on my payment, with only a few days to go before the final deadline. It looks like I am in the remaining 2% who have yet to be paid? Is anyone else awaiting a payment?
This week, the administrators sent out an email with log-in details to their portals with an email address if anyone needed to communicate with them.
As you may be aware, in line with the operational wind-down of the company, Wonga’s Customer Care team will cease its operations at 6 pm on 24 April 2020. As a result of this, the Wonga Customer Care team will no longer be in a position to send out any updates in relation to the administration (for example, the six-monthly progress report).
Moving forward, our team at Grant Thornton will continue to upload reports to creditors onto the firm’s creditors information portal for viewing and downloading which can be accessed at grantthornton.co.uk/portal. In accordance with rule 1.50 the Insolvency (England and Wales) Rules 2016, all future notifications and reports will be uploaded to the portal only and you will not receive a physical copy in the post.
Should you have queries in relation to the above, please contact a member of the Joint Administrators’ team who can be contacted by email at wongaadministration@uk.gt.com.
FINAL REMINDER TO UPDATE YOUR DETAILS IF YOU HAVE NOT ALREADY DONE SO! 01.04.2020
If like me you still haven’t received your payout, this is your last chance to get a final payment from the Administrators of Wonga. I have included below their original email for your reference.
Please be aware that if we do not receive your updated payment details (using the instructions below) by Friday, 10 April 2020, we may be unable to pay your dividend.
As you are aware from previous correspondence to you, the Joint Administrators have declared a first and final dividend of 4.3p in the £.
The Joint Administrators have been processing payments following the Dividend Declaration being sent to customers on 29 January 2020. Unfortunately, due to the bank details that are held by Wonga not being valid the dividend payment, we have attempted to pay has failed to reach you.
The Joint Administrators want to ensure that the dividend is paid to the right account as soon as possible. However, the timing of your dividend payment is dependent on when you are able to provide us with a valid up-to-date bank or address details so that we can reattempt to process your dividend payment.
If you do not provide us with bank details, we cannot pay you.
What do I need to do?
In order for us to update your bank details, please click on the secure link provided below to upload copies of the following documents related to your bank account as soon as possible. Once received, we will be able to amend your details and update you by email once we have done so:
1) A copy or picture of your bank statement or bank card that needs to reflect the following:
– Your full name and surname
– The account number and sort code
Please note: If you send a picture of your current bank card as proof, the 16-digit card number must be completely covered in the picture provided.
AND
2) We need proof of your identity, from a copy or picture of either of the following:
– your driving licence
– your passport
We request that you upload your documents within 7 days of this email. As above, any details received after Friday, 10 April 2020 may not be able to be processed.
If you are unable to provide the above evidence related to your bank account, or you are unsure as to why you have received this email, please contact the Wonga Customer Care team. You can call us on 0207 138 8330, or email us at customercare@wonga.com.. We’re here Monday to Friday 9am-6pm. We are closed on Saturdays, Sundays and Bank Holidays.
Yours sincerely
for and on behalf of WDFC UK Limited
The Joint Administrators
The affairs, business and property of Wonga Group Limited, WDFC UK Limited, WDFC Services Limited and Wonga Worldwide Limited (the Companies) are being managed by Chris Laverty, Daniel Smith and Andrew Charters, appointed as Joint Administrators on 31 August 2018. The Joint Administrators act as agents of the Companies and without personal liability. Chris Laverty, Daniel Smith and Andrew Charters are authorised by the IPA to act as insolvency practitioners
Administrators’ Progress Report – 26th March 2020
Dear Marie Ellis
The Joint Administrators of WDFC UK Limited (trading as Wonga UK) have released their progress report for the period to 29 February 2020. The report can be accessed by the link below:
WDFC UK Limited – Progress Report February 2020
If you have any questions or require any further information, please call us on the number provided below.
Yours sincerely,
Customer Care
0207 138 8330
wonga.com
Personal Update, 8th March 2020
Due to Wonga holding details of an old bank account on file for me. I have been asked to confirm my bank details to be paid. Should I not be able to do this, they have stated that they will issue a cheque.
| WDFC UK Limited – In Administration (the Company) |
| As you are aware from previous correspondence to you, the Joint Administrators have declared a first and final dividend of 4.3p in the £. The Joint Administrators have been processing payments over the past four weeks. Unfortunately, due to the bank details that are held by Wonga not being valid the payment has failed to reach you. The Joint Administrators intend to make a further payment to customers whose payment failed. However, the timing of the next payment is dependent on when you are able to provide us with valid up-to-date bank or address details so that we can process the payment What do I need to do? In order for us to update your bank details, please click on the secure link provided below to upload copies of the following documents related to your bank account as soon as possible. Once received, we will be able to amend your details and update you by email once we have done so: 1) A copy or picture of your bank statement or bank card that needs to reflect the following: – Your full name and surname – The account number and sort code Please note: If you send a picture of your current bank card as proof, the 16-digit card number must be completely covered in the picture provided. AND 2) We need proof of your identity, from a copy or picture of either of the following: – your driving licence – your passport We request that you upload your documents within 7 days. We may be unable to process any change to bank details received after this deadline. If you are unable to provide the above evidence related to your bank account, or you are unsure as to why you have received this email, please contact the Wonga Customer Care team. You can call us on 0207 138 8330, or email us at customercare@wonga.com.. We’re here Monday to Friday 9am-6pm. We are closed on Saturdays, Sundays and Bank Holidays. If you do not provide us with updated bank details, and we have an address for you on file, we will attempt payment by sending you a cheque. We therefore advise that if you have moved, you provide us with an updated address as a matter of urgency. If you do not provide us with bank details and we do not have address details on file for you, we cannot pay you. As per our previous assessment email, we have now updated your credit file as per the outcome of your assessment. If you have any queries in relation to this matter, please contact the Wonga Customer Care Centre at customercare@wonga.com or on 020 7138 8330. It is important to note that the Customer Care team will be experiencing higher than usual volumes of calls and emails. Therefore it may take them longer to respond. Yours sincerely for and on behalf of WDFC UK Limited |
Joint Administrators’ update, 2 March 2020
The Joint Administrators have now attempted to make dividend payments to over 410,000 creditors. As indicated in the Dividend Declaration dated 29 January 2020, it was envisaged that a small population of creditors would not be included in the first phase of the dividend payment process as further time was required to process a significant volume of correspondence received from customers, including validating and auditing bank account information, in the lead up to the Joint Administrators issuing the Dividend payment. 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. We apologise for any inconvenience this may cause and if you do not receive your payment within this period please contact the Wonga Customer Care team at customercare@wonga.com or on 020 7138 8330.
The Joint Administrators appreciate customers have waited a significant time for these payments and we are working hard to ensure monies are distributed as quickly and efficiently as possible.
The Joint Administrators thank you for your patience during this time, and should customers have any queries in relation to this matter, please contact the Wonga Customer Care team.
WONGA Payout update 28th February
So…today was an interesting one. Some people still haven’t been paid. Lots of people have.
I spoke to the Wonga customer service team today who told me that the Administrators intended to pay everyone today. If payments haven’t gone through, their team will finally have the ability to check our accounts from Monday. I was told a cheque would be forthcoming to anyone who still had not been paid.
However, it seems that this is not the case. Having been in contact with the Administrators again late yesterday, they told me that they had given an update to Debt Camel, which says that 22,000 payments will be paid next week by BACs and around13,000 the week after. Cheques have been sent out to people whose bank details were not on file. Cm
WONGA Payout 14th February
I spoke to the administrators today, just to see if I could gather any more clarity over the payment situation. I haven’t as yet received my money. Due to the volume of people who are being paid out. They are submitting in batches and will be paying everyone within two weeks. Their response is recorded below. (Hits *REFRESH* on bank account).
A spokesperson for Grant Thornton UK LLP said: “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. During this period, the Customer Care team will be available on customercare@wonga.com or 0207 138 8330, for any further questions.”
WONGA Payout Update 13th February 2020
Wonga today started their first batch of payments this afternoon. Debt Camel first announced the news this afternoon. Wonga confirmed they have started to pay in batches. The first of which is going out today, but they caveated that they have until the end of February to payout in full. When I say in full, I mean the 4.3p in the £ they promised.
Watch this space! I have been pressing REFRESH on my account for the last few hours…!
WONGA Payout Update 29th January
*Claim Update* Finally! Wonga sent emails to all of us claimants today. On what will now be known as #WongaWednesday
Check out my personal email below from Wonga for more details. The Joint Administrators have declared a first and final dividend of 4.3p in the £.
| Important information about your claim with Wonga |
| For your security: This is an official Wonga email for Marie Ellis |
| Important update about your Wonga Claim Dear Marie Ellis Case Number: xxxxxx Third Party Reference: WDFC UK Limited – In Administration (the Company) The Joint Administrators are now in a position to declare a first and final dividend of 4.3p in the £. You will receive a payment of £94.42. Your payment represents 4.3p in the £ on your agreed claim value of £2190.44. Please note, if you are represented by a CMC/Third Party and have provided us with instructions that your CMC/Third Party representative should be paid on your behalf, the above amount will be paid to your CMC/Third Party representative directly. As you will be aware from previous correspondence to you, the payment you will receive is significantly smaller than your Accepted Claim Value. This is because the total value of all accepted claims for customers/creditors significantly exceeds the money available to be shared out. As per our previous assessment email, we have also taken steps to update your credit file in accordance with the outcome of your assessment. All credit file updates in association with this claim should be completed within approximately 45 days of this correspondence. If you are being represented by a CMC/Third Party, a copy of this email has been sent to your CMC/Third Party representative. When will I receive my final dividend payment? As a result of the volume of dividend payments due to customers/creditors, you will receive your payment within four weeks of this email. Please note that if you have recently provided your bank detail updates to the Customer Care team, your payment may take longer to receive while your updates are processed. The Wonga Customer Care team are no longer able to accept any bank detail updates. If you do not receive your payment within four weeks, please contact the Wonga Customer Care team using the details provided below. For more information in relation to the dividend payment, please visit our FAQs. If you have any urgent queries that are not answered by our FAQs, please contact the Wonga Customer Care Centre at customercare@wonga.com or on 020 7138 8330. It is important to note that the Customer Care team will be experiencing higher than usual volumes of calls and emails. Therefore it may take them longer to respond. A copy of the Joint Administrators’ receipts and payments account to date and dividend disclosure can be found by accessing the link below: Link: Joint Administrators’ receipts and payments account and dividend disclosure Yours sincerely for and on behalf of WDFC UK Limited The Joint Administrators wonga.com customercare@wonga.com |
Update on our Wonga claims
Today I received an update email from Wonga about my claim, which is sitting now with their administrators. Anyone who took out a Wonga loan previously had until the 30th September to submit a claim with their administrators. Due to the demand from people who like me had taken out Wonga loans, all claimants will not get the money owed in full. Something they have communicated from the start of this process. A copy of the email has been provided below, confirming their indication to pay out, and asking for people to confirm their bank details are correct.
Dear Miss Ellis
Case Number: #######
Third Party Reference:
We previously emailed you in relation to your successful claim in the Wonga administration. At the end of January, we will communicate by email the amount you will be due to receive as a dividend.
Please be aware, the payment you receive will be considerably smaller than your accepted claim value.
We will make an electronic payment (bank transfer) to your bank account. The account number we have on file for you ends with these 4 digits: ****####
If these 4 digits are correct, there is no need for you to do anything.
If these 4 digits are incorrect, please contact us immediately by sending an email to customercare@wonga.com . We will reply to you with a secure link to upload your new details. Don’t forget to include your full name, date of birth and claim case number.
It is your responsibility to update your bank details if they are not correct.
Kind regards,
The Joint Administrators
wonga.com
customercare@wonga.com
Payday Loan companies go bust
Wonga has to be one of the most well-known payday loan companies. I wrote back in September of news that the company had gone into administration. What was so surprising about Wonga going bust, was that they were looking to expand and advertising was abundant. The company raised a £10 million rescue package but it just wasn’t enough to save them going under.
However, the financial climate changed as government legislation clamped down on companies that were giving loans which were unaffordable and payday loan companies were no longer able to charge such exorbitant fees.
“Wonga’s payday loans were the crack cocaine of debt – unneeded, unwanted, unhelpful, destructive and addictive“
Martin Lewis
What can we expect back?
When a company goes into liquidation, the company who oversees this process will look at all of the company’s debts, before determining how much everyone is owed. Unfortunately, there is only a finite amount of money left to go around, and so their job is to distribute what’s left to all creditors.
Sara Williams, a debt adviser whose website has free templates for asking for refunds from payday loans, guarantor loans, and other sorts of high-cost credit is covering all the news about the Wonga administration here: Wonga – Latest News about refunds.
I asked her how many people were getting the email I received. She said “The Administrators haven’t yet said how many borrowers had made a Claim that has been accepted – but it’s expected to be over 400,000. And I think they will all be getting this email as a check that Wonga has the right bank account to pay out to them. The payouts should be by the end of the month, so we should know by about January 27th what percentage of people are going to get paid. Don’t hold your breath – it’s not going to be large.”
Why is Wonga paying out?
The reason why people have been able to claim against Wonga is that and only when the loans are deemed ‘unaffordable’. Just because you took out a loan with Wonga, does not mean you are automatically guaranteed a payout. All ‘affordable’ loans do not fall under this ruling. I submitted a number of claims, but any ‘reasonable amount’ which I would have been able to pay back was discounted. Any loan repayment in excess of a third of my salary was accepted as a valid claim.
Wonga advised that ‘Please be aware, if successful, the payment you receive will be considerably smaller than your accepted claim amount. The expected total value of all accepted claims received will significantly exceed the money available to be shared out. The money available to be shared out will not be known until all of Wonga’s assets have been sold or realised and certain costs and deductions have been taken into account.’
Guide to eligibility for refunds
Wonga’s administrators notified me that I am eligible for a refund on some of my loans, which exceeded my affordability to pay back. Not all of the loans I took out were accepted.
What was the assessment criteria?
Loans have been assessed against a number of affordability criteria, which I have written about in a former article. To summarise, Wonga is only obliged to pay out if it is ruled that the loan was unaffordable.
Will they remove them from my credit file?
Wonga has stated that they will remove these claims from your credit file. They have caveated that due to the number of claims they are expecting to receive, this may take a number of months after you have received your assessment.
The payout will be taxed!
I noted that payouts are taxed. According to Wonga, ‘If your claim is accepted, we are required by law to withhold 20% tax from the 8% statutory interest element of the claim amount.’ Ouch.
My claim – watch this space!
I have noted below, my claims that have been accepted and those that have been rejected as a guide to anyone else who is expecting a payout.
Accepted loans
| Loan Start Date | Loan Amount | Paid Interest and Fees | Accepted/Rejected |
| 25-06-2011 | £517.00 | £128.73 | Accepted |
| 18-07-2011 | £589.00 | £169.68 | Accepted |
| 15-08-2011 | £759.00 | £58.28 | Accepted |
| 23-08-2011 | £800.00 | £188.23 | Accepted |
| 17-09-2011 | £1047.00 | £285.18 | Accepted |
| 17-10-2011 | £1000.00 | £279.51 | Accepted |
| 16-11-2011 | £1083.00 | £155.80 | Accepted |
| 15-12-2011 | £1000.00 | £142.25 | Accepted |
Rejected loans
| Loan Start Date | Loan Amount | Paid Interest and Fees | Accepted/Rejected |
| 10-02-2011 | £150.00 | £13.17 | Rejected |
| 22-02-2011 | £280.00 | £62.84 | Rejected |
| 21-03-2011 | £400.00 | £99.49 | Rejected |
| 19-04-2011 | £400.00 | £87.92 | Rejected |
| 23-05-2011 | £400.00 | £89.17 | Rejected |
Summary
The overall claim value I have been told is £2,190.44. It clearly states that I will not receive this in full. Watch this space for how much I will receive from Wonga on 30th January.
Wonga payout update 2020
Wonga’s Joint Administrators gave everyone a timeline in which they were going to look into all claims, which was 30th January.
Claimants were given until 30th September to submit a claim. Once all claims against the company were collated, the administrators would then go through the process of allocating monies.
What’s next…
Hopefully, I will get something back! Although it is yet to be seen how much of a percentage we will receive from the administrators at the end of January. Will keep you posted!
If you have any questions, do post below!
If you like this, why not try…
How are you taking charge of your finances in 2020?
Chip is a clever app that automatically puts money aside for you based on your spending habits, so you can save without thinking about it! Broke Girl in the City is working in partnership with Chip to offer a FREE £10 welcome bonus by using the code BROKE10. Limited time only. T&cs apply.