Loans and Finance

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Friday, August 31, 2018

Wonga Goes Into Administration

Wonga has gone into administration, it had already stopped accepting new loan applications.

Those who owe it money will still have to honour their debts, and those trying to claim compensation for alleged past misdemeanours will go to the back of the creditors queue.

Many in the media have been celebrating its demise. All well and good maybe, but those who used Wonga's services may now well end up going to loan sharks.

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