I Never Got Paid From Winning Wonga Fantasy League in 2010, If I Charged Them The Same Rate of Interest, They Would Owe Me ….

Unclaimed PPI? Unclaimed payday loan compensation? Forget it folks, I’m talking about mis-sold office fantasy league winnings.

The Background

I worked for Wonga.com in 2010, back when you couldn’t even go to the bathroom without hearing their jingle on the radio. Like most offices today, everyone put in £10 to play in the office fantasy league and with Van Persie and Rooney in their prime, this was my year.

The season came and went and I was crowned champion, but alas, despite leaving the company, I never received my winnings of approximately £160.

Sure, that doesn’t seem like much money, but ask my friend who lives and breathes fantasy league, any winnings from the addictive player scoring game are practically worth 20 times in value.

Why Didn’t I Collect My Wonga?

Well it could have been that I had left the company and was now an after thought. My team name was “The Intern Returns” – which was beautifully constructed to suggest that even when I had left, I could still haunt you with my fantasy league selection and have room for a comeback.

Dan Tan
Down and Out: Dan never got his Wonga

If I Charged Wonga’s Interest, How Much Would I Be Owed Today?

The heavily criticised payday lender was often in the media for charging rates in the thousands of APR, and if you defaulted on a loan, the interest would add up like no tomorrow.

After doing some calculations, my £160 owed to me in 2010 would now be worth £2,752. (based on £24 per month for 9 years)

Jesus.

But I am actually being kind. This is with the FCA’s price cap of 0.8% per day in place, which only came into action in 2015.

Without the price cap, you have 4 of those years at £30 per month. Making the total figure £3,040.

But again, I am being kind. This does not include default charges of £25 per month for every missed payment.

Making the total figure = £5,740

 

What You Could Buy With £5,740

A Dacia Sandero Hatchback (bought outright)

dacia-sandero

A One-Week Stay At The Kuramathi Island Resort in The Maldives (half board, flights included)

kuramathi-maldives

A 50% deposit on this beautiful flat in Port Glasgow (at least they have Sky TV)

glasgow

 

Where Do I Stand On My Lost Wonga?

After writing to Wonga and not hearing back, I believe that they are working through their own compensation claims worth in excess of £400 million.

But hey, its been 9 years. I’m a patient guy – what’s a little longer for some wonga?