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Wonga payday lending company ‘on brink of collapse after mass settlement claims from customers’

Wonga had charged as much as 5,853per cent before being purchased to avoid

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Wonga is in the brink of collapse after mass payment claims from clients, it really is reported.

Thousands have actually demanded cash through the controversial pay day loans firm over astronomical interest levels.

Wonga had charged up to 5,853per cent before being purchased to quit.

Labour’s Meg Hillier stated: “There will never be many rips if Wonga goes.”

The company, which lends to your needy, stated it had been “assessing all options”.

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Wonga could get in touch with administrators this week it was reported tonight as it buckles under a flood of customer compensation claims.

Thousands of folks are searching for payouts after getting loans that dragged them further into debt. Continua a leggere