Wonga collapse renders Britain’s other lenders that are payday firing line

Wonga collapse renders Britain’s other lenders that are payday firing line

LONDON (Reuters) – The collapse of Britain’s biggest payday loan provider Wonga will probably turn up the temperature on its competitors amid a rise in grievances by customers and phone phone calls by some politicians for tighter legislation. Britain’s poster youngster of short-term, high-interest loans collapsed into administration on Thursday, just months after raising 10 million pounds ($13 million) to aid it deal with a rise in settlement claims.

Wonga stated the rise in claims had been driven by alleged claims administration businesses, businesses that assist consumers winnings payment from organizations. „Wonga collapse renders Britain’s other lenders that are payday firing line“ weiterlesen

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