Your rights explained over loans and compensation as the firm enters administration
Britain’s biggest payday lender, Wonga, has collapsed into administration following a wave of customer compensation claims, leaving more than 200,000 customers wondering what it means for their loans.
The short-term loan provider has hired the accountancy firm Grant Thornton to handle the administration. It will now seek to find a buyer for the company’s loan book.
Related: I won’t cheer if Wonga fails. I was grateful it was there for me | James Ball
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