Wonga causing damage ‘from beyond the grave’

Written by Adam Cadle
27/02/2019

The finances of 10,500 borrowers are being "damaged from beyond the grave" by collapsed payday lender Wonga, according to a committee of MPs.

Wonga fell into administration in August last year, with these customers awaiting ombudsman rulings on whether they were mis-sold loans.

The Treasury Committee said their cases had been "cast aside". Wonga blamed a surge in compensation claims, in part, for its collapse.

These 10,500 Wonga borrowers had lodged complaints about previous payday loans being mis-sold due, in many cases, to their vulnerability and inability to repay.

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