Will Wonga along with other lenders that are payday? Just exactly What caused the slump?

Will Wonga along with other lenders that are payday? Just exactly What caused the slump?

The rags to riches to rags tale of payday lender Wonga has caused it to be a home title but left it having a sullied image.

Information that the organization, which offers short-term loans, has it self dropped to the red ended up being met with glee by some, while others mention it continues to be a huge player in a market that is strictly regulated.

Utilizing the company reporting a loss in ВЈ37.3m for 2014 and predicting more losings in 2015, numerous on social media marketing had been fast to jokingly provide the business that loan at an rate of interest of 5,000%. Read more