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Exactly what will occur to your Wonga financial obligation as a result of its collapse and exactly what are the payment claims?

Why has Wonga gone breasts?

In 2014, the company introduced a management that is new and penned off ВЈ220million worth of debt owned by 330,000 clients after admitting offering loans to individuals who could maybe perhaps not manage to repay them.

Wonga had been processing lots and lots of payment claims after it had been accused of irresponsible financing, focusing on susceptible clients and billing sky-high interest.

In August 2018 it had been kept afloat because of a ВЈ10million crisis cash injection from investors. Continue reading