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What’s going to happen to your Wonga financial obligation as a result of its collapse and do you know the settlement claims?

What’s going to happen to your Wonga financial obligation as a result of its collapse and do you know the settlement claims?

The payday lender has confirmed its closing meaning administrators will just take within the debts

Cash advance giant Wonga moved breasts after a ВЈ10million crisis money injection from investors did not ensure that it stays afloat.

Just what exactly does which means that for the debts? Will they be written down? Here is our guide.

Why has Wonga gone breasts?

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

Wonga ended up being processing tens of thousands of payment claims after it had been accused of reckless financing, focusing on vulnerable customers and asking interest that is sky-high.

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In August 2018 it absolutely was held afloat because of a ВЈ10million crisis money injection from investors. (više…)

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