- they assessed 401,202 claims to be legitimate;
- of those 358,129 are increasingly being compensated 4.3% of the examined settlement value;
- the residual 43,073 also owed a stability on that loan to wonga, so their compensation has been utilized to clear or reduce that stability.
Wonga stopped lending and went into administration on 30 August 2018, struggling to spend refunds on all of the cash advance affordability complaints it had been getting.
The Administrators are making progress that is various (available from businesses home) and statements during 2018-19:
- in October 2018, the Administrators posted their Proposals, detailing the way they planned to carry out the management. Creditors voted to accept these Proposals. Read more