Wonga loans written off, customers still not happy

Wonga loans have been written off, which means 330,000 customers’ debts totaling around £220 million will be scrapped. But, this has not stopped a tirade of abuse on Twitter towards Payday lender Wonga.

Customer debts are being written off because they would not have been a part of the affordability guidelines; the cost of writing these debts off to the company could be around £35m. But, there is a £220 million debt outstanding for the customers affected, with the average loan being around £667 per borrower.

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Borrowers will be contacted by October 10, it has been reported around 330,000 customers are in arrears of about 30 days and these will have the balance of their loans written off.

People have taken to Twitter to say their piece; some are saying it is extortionate with Wonga’s fixed interest rate of 365% per annum, one tweeter said, “It gets people talking though, doesn’t it? I think Wonga deserve the tirade, they’re the lowest of the low.”

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Here are a few tweets below –

Fred Walton @fredwalton said, “Why didn’t I borrow 100 grand from Wonga?”

Hollie Johnson @holliejay_21 tweeted, “So wonga are writing off thousands of debts? Sure that will encourage the people that take them out to borrow more responsibly next time.”

Hethers @Hethery1 said, ‘Hope Wonga are doing one. That would be mint. Vile company preying on the vulnerable. #wonga”

How do you feel about Wonga?

Wonga loans written off, customers still not happy