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Six years back the creator of Wonga described the lender that is payday a “platform money for hard times of monetary solutions”.
Nonetheless it appears the long run have not ended up quite the real method Errol Damelin had hoped.
This week, the organization is considering “all choices” after reports proposed it had been near to collapse.
Its reversal of fortunes is prompted with a deluge of settlement claims for loans applied for before 2014.
The Financial Conduct Authority ruled four years ago that Wonga’s business collection agencies techniques had been unjust and ordered it to pay for ВЈ2.6m in compensation to 45,000 clients. Continue reading