What is going to occur to your Wonga financial obligation as a result of its collapse and which are the settlement claims?
The payday loan provider has verified its closure meaning administrators will just take throughout the debts
Pay day loan giant Wonga went breasts after having a ВЈ10million crisis money injection from investors did not afloat keep it.
What exactly does that mean for the debts? Will they be written down? Listed here is our guide.
Why has Wonga gone breasts?
In 2014, the company earned a brand new management group and had written down ВЈ220million worth of debt owned by 330,000 clients after admitting offering loans to those who could maybe perhaps not manage to repay them.
Wonga ended up being processing several thousand payment claims after it absolutely was accused of reckless financing, focusing on susceptible customers and billing interest that is sky-high.