They brought us all down in the crash yet we bailed them out in £billions instead of getting rid of them.
Cash machines are going. The poor who do not have bank accounts will suffer even more using loan sharks, pay day loans and credit companies with the interest rates up in the +30%'s and more.
Pleased to see they went bust. 'The interest charged by the lender, which can equate to an annual percentage rate (APR) of 1,509%, has been widely criticised. Wonga have said they believe APR is a poor measure of the true cost of short-term loans. As of April 2016, a loan of £100 over seventeen days (Wonga's average loan term) required £113.60 to repay.
On 4 August 2018, the company received an emergency £10m cash injection from shareholders because it was at risk of becoming insolvent due to a surge in customer compensation claims. It went into administration on 30 August 2018 and Grant Thornton were subsequently appointed as administrators, to wind down the business, selling assets and identifying creditors. Compensation claims had increased fourfold to over 40,000 in March 2019, from 10,500 when entering administration.' https://en.wikipedia.org/wiki/Wonga.com