Wonga to write off the debts of 330,000 customers
Wonga is to write off the debts of 330,000 customers whose loans would not have been made under new affordability criteria being introduced by the pay-day lender.
Wonga to contact all customers over redress scheme
Wonga will contact all its customers by the end of next week to inform them if they will be among the 375,000 to be included in the redress programme announced today.
ITV News Consumer Editor Chris Choi reports:
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Headaches and questions for Wonga after mass write off
Wonga, under Errol Damelin, was lending irresponsibly on an almighty scale, 375,000 people is larger than the population of Cardiff.
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Three questions Wonga now needs to answer
After the payday lender admits it failed to properly check potential borrowers, it now faces a challenge to regain customers' trust.