PayDay Lending firm WONGA is now in Administration
 

https://news.sky.com/story/wonga-on-...eluge-11482720

Just reported on SkyNewsHD
from Mark Kleinman, City editor


Wonga soon to be bankrupt

[Wonga's decision to explore the appointment of administrators
comes three weeks after Sky News revealed that the company
had received an emergency £10m cash injection to keep it afloat.]


Sign Of The Times

I guess they fell behind with their repayments.

Good!

...ooops I might need a spoiler for that...that’s a massive debt...

...can’t even find the edit button it’s so big...

Yes what comes around.......................................

What a shame :idc:

Yes it takes time
well done.

Wonga rip folks off,
Some wonder if Admin
will still force the cash to come in.

High Interest Rates on Loans

https://e3.365dm.com/18/08/750x563/s...20180804122752
Demo back in 2014

(loans made before new rules were introduced in 2014 had triggered a big rise in compensation payouts.)

Its a start, there are companies just as exploitative out there charging 4000%+ interest.... time to tackle those now.

Yes that is wrong.


From all reports they are saying Admin
will carry on taking the cash

Wonga has now stopped
giving any loans.


Ref: Bloomberg


Also any with Claims
due in the next few months,
may not get a penny.............................................

SkyNewsHD Live

Wonga is Now in Admin.
(Mark Kleinman, City editor)

https://news.sky.com/story/wonga-to-...fears-11485818

Good, I hate these sort of businesses. Just pure exploitation.

Very True
DX.

Protip/ you can "payday borrow" from yourself for a week using PayPal, and it's interest free. These Wonga "legitimised loanshark" type things are surely majorly outdated, I feel...