Wonga collapse renders Britain’s other lenders that are payday firing line
LONDON (Reuters) – The collapse of BritainвЂ™s biggest payday lender Wonga probably will turn up the temperature on its competitors amid a rise in grievances by clients and telephone phone telephone telephone calls by some politicians for tighter legislation. BritainвЂ™s poster kid of short-term, high-interest loans collapsed into administration on Thursday, just months after increasing 10 million pounds ($13 million) to greatly help it handle a rise in settlement claims.
Wonga stated the rise in claims ended up being driven by alleged claims administration businesses […]
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