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The Guardian - Back to homeThe Guardian

Wonga

March 2021

  • An Amigos Loans advert in 2019.

    High court allows troubled Amigo Loans to cap compensation payments

    Court rejects fears deal would be unfair to customers by cutting payouts to 5% even though directors could earn £7m

January 2021

  • Labour MP Stella Creasy

    MPs warn buy now, pay later firms 'could be the next Wonga'

    At least 70 MPs want companies such as Klarna and Clearpay to be more tighter regulated

February 2020

  • a row of banknotes from £5 to £50

    Complaints over new high-cost loans more than triple

    UK ombudsman taking tougher stance with lenders amid huge rise in cases involving successors to payday loans

January 2020

  • Wonga website

    Wonga claimants to get just 4.3% payout for mis-sold loans

    Average compensation amount should have been £1,200 but will now be only £64 each

November 2019

  • Stella Creasy

    Stella Creasy calls for inquiry into FCA over Wonga and QuickQuid

    Collapse of payday lenders should have been spotted by regulator, says Labour politician

October 2019

  • QuickQuid website on a tablet computer

    QuickQuid owner collapses into administration

    Almost 1m customers face financial uncertainty as UK’s biggest payday lender closes
  • A person is pictured holding a wallet containing a £5 note

    QuickQuid owner on brink of collapse as payday lender complaints surge

    CashEuroNet UK close to entering administration in latest blow to high-cost loans industry
  • The homepage of Wonga’s website with a message stating the company has stopped taking new loan applications, from August 2018.

    Wonga customers' average compensation payout may be just £118

    People who were mis-sold loans expected to get 10% of compensation they are owed

March 2019

  • Protesters demonstrate against British payday loan company Wonga in central London in 2014.

    Wonga compensation claims rise fourfold

    Administrators expect further rise when customers are asked if they think they were mis-sold loans

December 2018

  • QuickQuid website, owned by the American-listed company Enova

    Wonga collapse clears decks for US payday loan firms in UK market

    US lenders emerge as big players despite customer complaints and high-cost credit clampdown

November 2018

  • Wonga’s interest rates had reached as high as 8,853% per annum.

    Wonga compensation claimants may lose out due to automation plan

    Administrators winding up payday lender are devising a computer-based tool to decide whether claims are valid

September 2018

  • The archbishop of Canterbury, Justin Welby

    Church of England pulls out of Wonga rescue effort

  • Man taking £10 notes from wallet

    Need a £250 loan? Here are some options if you're broke

  • A funeral procession for payday loans near St Paul's Cathedral

    Archbishop of Canterbury to lead Wonga rescue effort

  • 'This Morning' TV show, London, UK - 22 Mar 2018<br>EDITORIAL USE ONLY. NO MERCHANDISING IN US EXCLUSIVE RATES APPLY Mandatory Credit: Photo by Ken McKay/ITV/REX/Shutterstock (9473382l) Michael Sheen 'This Morning' TV show, London, UK - 22 Mar 2018 MICHAEL SHEEN: ?I?M TAKING ON THE LOAN-SHARKS? He's most famous for his powerful portrayals of Tony Blair and Sir David Frost, but away from the big screen, actor Michael Sheen never shies away from getting behind important causes close to his heart. And, most recently, Michael has been tackling the issue of payday and doorstep loans - loans which he believes are causing some of the most vulnerable members of society to spiral into uncontrollable amounts of debt. Using ?a significant? amount of his own money to fund a new campaign, the Hollywood heavyweight joins us today to talk about why he?s decided to take on the loan-sharks.

    Wonga was bad, says Michael Sheen. But even worse lenders could now move in

  • Business leader
    Wonga has gone, but the gig economy that made it necessary is still with us

  • Yes, Wonga has gone, but the money sharks still circle

    Stella Creasy

31 August 2018

  • Wonga logo

    Wonga administrators plan 'an orderly wind down' of payday lender

    Grant Thornton appointed to start the process of identifying all creditors
  • The home page of Wonga’s company website with a message stating that they have stopped taking new loan applications

    Brief letters
    Wonga spells timber for magic money tree

    Brief letters: Turf wars | Welsh vernacular buildings | Ordained ministers | Gordon Bennett | Wonga | Safety from dogs
  • Pound coins and British pound notes in man’s hands

    Households 'will still turn to payday lenders despite Wonga collapse'

    Campaigners says economic pressures mean people will have to take out high-cost debt
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