Exactly what will occur to your Wonga financial obligation as a result of its collapse and exactly what are the payment claims?
The payday loan provider has verified its closing meaning administrators will just take throughout the debts
Pay day loan giant Wonga moved bust after a ВЈ10million crisis money injection from investors did not afloat keep it.
Just what exactly does which means that for the debts? Will they be written down? Listed here is our guide.
Why has Wonga gone breasts?
In 2014, the company introduced a brand new administration group and penned down ВЈ220million worth of debt owned by 330,000 clients after admitting offering loans to those who could not manage to repay them.
Wonga had been processing huge number of settlement claims after it absolutely was accused of reckless financing, focusing on susceptible customers and asking interest that is sky-high.
In August 2018 it absolutely was held afloat because of a ВЈ10million crisis money injection from investors.
But Wonga stated the bucks injection only resulted in an influx of the latest claims therefore the firm was not able to handle the need.Detalles