Will Wonga along with other payday loan providers survive?

Will Wonga along with other payday loan providers survive?

By Kevin PeacheyPersonal finance reporter

The rags to riches to rags tale of payday loan provider Wonga has managed to get a family group title but left it with a sullied image.

Information that the business, which supplies short-term loans, has it self dropped to the red ended up being met with glee by some, while others mention it stays an enormous player in a strictly regulated market.

Aided by the business reporting a loss in Р’Р€37.3m for 2014 and predicting more losings in 2015, numerous on social media marketing had been fast to jokingly provide business financing at an interest of 5,000%. Xem thêm