Wonga To Write Off 330,000 Customers' Debts

Payday lender Wonga has written off the debts of 330,000 customers after putting new affordability checks in place.

Wonga will be contacting all customers by 10 October to notify them if they will be included in the redress programme. Customers should continue to make payments unless they are told to stop by the firm.

Borrowers who are experiencing financial difficulty, should contact Wonga to discuss their options.

Clive Adamson, Director of Supervision, said: "We are determined to drive up standards in the consumer credit market and it is disappointing that some firms still have a way to go to meet our expectations. This should put the rest of the industry on notice – they need to lend affordably and responsibly."


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