When Will Wonga Pay?
It Is Expected That Payments to Accepted Claims Will Be Made Within Four Months of 30 September 2019 (So by 30 January 2020). There Have Been Hundreds of...
It is expected that payments to accepted claims will be made within four months of 30 September 2019 (so by 30 January 2020). There have been hundreds of thousands of people apply for payday loans with Wonga, and I'm sure so many of them were not really affordable.
Has anyone received compensation from Wonga?
People who were mis-sold loans by the payday lender Wonga have been told that they will receive just 4.3% of the compensation they are owed. Administrators have begun informing around 400,000 claimants by letter, some of whom have reacted in dismay.
What's happening with Wonga payouts?
On 29 January 2020, the Wonga administrators announced that they will be paying 4.3p in the pound to unsecured creditors, including all the 400,000 people who are owed a refund for unaffordable lending.
David Miller brings 15 years of experience in global economics, personal finance strategy, and market dynamics. He specializes in turning complex economic trends into actionable insights for everyday readers.
