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Are payday advances being Thing of this last? The recent collapse of Wonga is unsightly and well-publicised.

The payday lender had a lower than favourable reputation, and ended up being seen by many as a company model that preyed on those who were either hopeless or didn’t know very well what these people were engaging in, as a result of the exorbitant interest levels the business charged on its loans.

Following a Financial Conduct Authority (FCA) governing in 2015, Wonga’s bank balance started initially to slip too. The FCA forced Wonga to slash its interest levels and make certain that borrowers had a stricter authorisation procedure. Because of this, Wonga’s client figures dropped from more than a million in 2013 to 220,000 by September 2017 1 , using this huge lack of revenue culminating in the business entering management previously this present year.

Inspite of the company’s collapse, Wonga customers’ have been told they are going to nevertheless back need to pay any such thing they will have borrowed. That you are struggling to pay, please contact us now for instant help with your debts if you are affected by this and still have outstanding Wonga loans. (more…)

Are payday advances being Thing of this last? The recent collapse of Wonga is unsightly and well-publicised.

The payday lender had a lower than favourable reputation, and ended up being seen by many as a company model that preyed on those who were either hopeless or didn’t know very well what these people were engaging in, as a result of the exorbitant interest levels the business charged on its loans.

Following a Financial Conduct Authority (FCA) governing in 2015, Wonga’s bank balance started initially to slip too. The FCA forced Wonga to slash its interest levels and make certain that borrowers had a stricter authorisation procedure. Because of this, Wonga’s client figures dropped from more than a million in 2013 to 220,000 by September 2017 1 , using this huge lack of revenue culminating in the business entering management previously this present year.

Inspite of the company’s collapse, Wonga customers’ have been told they are going to nevertheless back need to pay any such thing they will have borrowed. That you are struggling to pay, please contact us now for instant help with your debts if you are affected by this and still have outstanding Wonga loans. (more…)