Wonga borrowers ‘to get 4.3% of settlement claims’

Wonga borrowers ‘to get 4.3% of settlement claims’

Individuals who had been mis-sold loans by the payday lender Wonga have already been told they are owed that they will receive just 4.3% of the compensation.

Administrators have started informing around 400,000 claimants by page, several of who have actually reacted in dismay.

Before its collapse, Wonga had been vilified because of its high-cost, short-term loans, regarded as targeting the vulnerable.

Commenting regarding the debt advice forum Debt Camel, one ex-customer called it an “utter disgrace”.

“Lives have already been ruined by these loans. Continue reading “Wonga borrowers ‘to get 4.3% of settlement claims’”