WONGA I've had it right off

Loans will be Sold to Teams of 20 stone Bald men ,for a 5 er Each, said Bald Men will attempt to smash your back doors in .

^ this .

They may have gone bust. But you still have a loan. You will have to pay it off.hth

You are still liable for the debt. No one will shed a tear for them. Preying on the poor. (And skint gamblers)

You must be in a bad way to borrow from them.

I have a Wonga loan, will this be written off?
Unfortunately for you, the repayments will still have to be made.

Although this will be overseen by the administrators - in the short-term at least - there is no practical difference in the way that these payments are made.

A service will continue for anyone who needs help, and anyone struggling to repay can still get in touch, and can also contact debt charities such as Citizens Advice or StepChange for free advice.

if u dont want ur credit rating ruined u will need to repay ur loan ghh

12K

think he got the Loan to Buy a Fishing rod tbh

if u dont want ur credit rating ruined u will need to repay ur loan ghh

I think you`ll find that people who went to Wonga in the first place, went because their credit rating was already ruined

LOL Mac   Their Overdraft Facility had long gone

oops, sorry, im inexperienced in this field

on a serious point if part of the problem for Wonga was the cost of defaults and chasing up bad loans ,will it be worth the administrator chasing them up, they,ll be starting off from a worse position than Wonga it,s self surely

If anything the administrators will go after the unpaid loans with even more zeal as their only job
is to recover as much revenue as possible

have as much zeal as you want you cant get blood out of a stone, Wonga,s business was built in factoring in a number of non payers but they obviously got their numbers wrong, wont help the administrators get any more money in than Wonga could

Wonga was used by many simply for a short term loan to avoid going overdrawn at their bank, which would impose very high charges far greater than Wonga's.
That facility as been removed to the delight of the banks.

I would imagine there was far worse than wonga out there ,,

It seems the problems for people using Wonga only arose when they couldn't pay back the original loan.

well done, got a few bites