The administration of WDFC, the legal company who operated the Wonga brand, was completed in August 2020.
The company was finally dissolved in December 2020.
See Companies House records for details.
Background to the administration – rising complaint numbers
A payday loan is “unaffordable” if repaying meant you had to get into more debt, by borrowing again or getting behind on bills or other debts. So you may have repaid all your loans but still have a good claim for a refund of the interest you paid.
When Wonga went under there were over 200,000 people with current loans from Wonga – many of them had a good case for the interest to be removed from their balance so they only repay what they borrowed.
The Administrators proposals set out the reasons why Wonga went into administration. These were the increasing number of affordability complaints, especially from Claims Companies, and the decision by the Financial Ombudsman that FOS could look at loans over 6 years old, going back to 2007.
There were 24,000 affordability complaints awaiting a decision by Wonga and 9,500 complaints against Wonga with the Financial Ombudsman when Wonga ceased trading on 30 August 2018.
Details on the Administration
The Administrators have made various progress reports (available from Companies House) and statements during 2018-20:
- in October 2018, the Administrators published their Proposals, detailing how they planned to handle the administration. Creditors voted to approve these Proposals.
- progress report to end February 2019;
- Witness Statement in April 2019;
- progress report to end August 2019.
An online claim page was set up in April 2019 for Wonga customers to submit claims for refunds. The deadline for sending in a claim was 30 September 2019.
The Administrators assessed all claims using an automated tool. This took account of:
- all loans, including those over 6 years old
- how large a loan was compared to a customer’s income;
- how often someone borrowed without significant gaps;
- whether there were indications of hardship such as missed payments;
- if there is a balance outstanding for the right of set-off.
Where it decided one or more loans were unaffordable, it calculated how much interest should be refunded and added statutory interest at 8%.
In August 2019 the Administrators starting sending emails to people saying whether their claims have been successful or rejected.
In September, the Administrators sent an update on progress up to end August 2019. Key points include:
- at end August, 389,621 claims for unaffordable payday lending have been accepted by the administrators;
- the total value of these claims is c £460million – an average of c £1,200 a claim.
- £23m of outstanding loans have been collected. The Administrators say that outstanding loans are being taken into account and given the right of set-off where the customer has a claim for unaffordable loans.
- The remaining loan book will not be sold to a debt collector.
At this point the Administrators were saying that payments would be made by 30 January 2020.
29 January 2020 – administrators announce 4.3p in the pound
On 29 January 2020, the Wonga administrators announced that they will be paying 4.3p in the pound to unsecured creditors, including all the 400,000 people who are owed a refund for unaffordable lending.
The administrators have now given the final numbers:
- they assessed 401,202 claims as being valid;
- of these 358,129 are being paid 4.3% of their assessed compensation value;
- the remaining 43,073 also owed a balance on a loan to wonga, so their compensation has been used to clear or reduce that balance.
What happens next:
- the money should be paid within the next 4 weeks. This has come as a surprise as people had been told it would be paid by the end of January;
- the loans that are being refunded should be removed from your credit record in the next 6 weeks.
My comment – ripped off by Wonga and now let down by the regulators
The administrators told people they would get “significantly less” than that amount as there would not be enough money to pay the claims in full.
But many people will have been hoping for more than 4.3% and are very upset.
It is not the administrators’ fault there is so little money to be divided between so many people. It is the fault of the regulators – first the OFT and then the FCA – that they allowed Wonga to break the rules saying that affordability should be checked
And now the regulators have failed to ensure that these Wonga victims get the compensation they should have. When a PPI firm went under, the Financial Services Compensation Scheme stepped in and people with PPI claims got paid in full. But the FCA has not extended the FSCS to cover payday lenders.
This isn’t just a problem for the hundreds of thousands of Wonga victims. Borrowers from many payday lenders have been unable to get proper compensation after the lender has had to close. This will apply to QuickQuid, the money shop, Payday UK and Payday Express borrowers as well.
The FCA needs to rethink this and provide a safety net for people who were mis-sold unaffordable loans.
Readers comments – Shock and disappointment
This a brief overview of the hundreds of comments below this article.
Some people are happy to be getting anything:
- “I am only getting just shy of £25 but for the sake of completing a 30 second form it’s not too bad.”
- “I will be getting £79.93 of the £1854.17 I was owed. Better than nothing!”
- “£35 out of a possible £800. I wasn’t expecting much anyway. I’m more interested in having the 25 wonga loans removed from my credit file.”
The administrators had said people would get “significantly less” than the claim, but many people were hoping for at least 10%:
- “I got mine £88.67 – claim was £2057.05 – I was expecting at least a couple hundred.”
- “Claim was 3034, getting 130. By considerably less I didn’t think it would be over 95% of it. That is ridiculous.”
- “To receive £44.10 from a claim of £1023.00 is insulting to be honest.”
- “Owed £1499, getting £63…what an absolute joke!”
- “4.3% is an absolute disgrace. Although people are trying to be positive they shouldn’t have to. The people who made all the profit here would spend the biggest payout anyone has received on an evening out and not think twice about it.”
- “Gutted…. was hoping for at least the 10% speculated.”
This reader blamed not just Wonga but the regulators:
- “Over £11k accepted reduced down to £480 – my job, my marriage and 4 years of desperation followed by years of rebuilding my life – that’s what the regulators consider that to be worth! Shame on everyone involved in Wonga and the lack of regulation of lenders like them !”
Some are just are delighted that Wonga has gone under:
- “Heads up everyone…We have won in the end! They can no longer be a hindrance to any of us any more!”
- “Mines going to charity. Best thing to have happened is for them to have gone bust”
- ”Thank you Wonga you paid me to continue gambling, I lost everything. Good riddance.”
Many people are also disappointed and shocked that they aren’t being paid by the end of January. Some people getting these refunds are still in difficult financial circumstances and had planned to use the money to pay a bill or some debts.
February 2020 – some clarifications from the administrators
The remaining loans
The administrators have confirmed that no further payments are being accepted and the debts will not be sold to a debt collector. So you don’t have to worry about being taken to court or bailiffs.
But the debts are not technically being written off. They will remain on your credit record for 6 years from the default date on your credit record. If you don’t know what this date is, I suggest you check it now.
In practice, now the company in liquidation, if you contact a credit reference agency and say your Wonga debt is incorrect, you can ask the credit reference agency to “suppress” the record as Wonga can no longer say what the right entry should be. See How to correct credit records if the lender has gone under for details.
No deductions are being made for tax
The Administrators have said:
“the Joint Administrators have agreed with HMRC that the payment may be treated for tax purposes as set wholly against the interest and fees element first, and statutory interest second. As a result, where the distribution paid by the administrators to each customer does not exceed the interest and fees claimed by them, no withholding tax will be required to be deducted at source from payments made by the administrators in such cases.”
The simple version of this is:
- the administrators are not taking off any tax.
- there will, therefore, be no tax to have to reclaim.
- the vast majority of people will not have to pay any tax on any part of of the refund even if you are a higher rate taxpayer. The amounts don’t have to be declared if you complete an annual tax return eg if you are self-employed.
A small number of extra payments
A small number of customers were owed money by Wonga for a different reason, for example they may have overpaid on a loan. These extra amounts are also being paid out and you will get 4.3% of them too.
If you were not using a claims company, you should have received a single email at the end of January which mentions both amounts.
If you were using a claims company you should have received two emails, each about one of the amounts. If you have only received one email and it mentions a claim which is smaller than the amount you expected, you can contact the administrators, it may be this is the “extra” payment.
Bank account issues
I asked the Administrators why some people are still getting emails asking them to update their bank details. They say:
These emails will be in response to customers’ requests received by the Customer Care team prior to 29 January 2020 providing a secure method by which customers can update their bank account details. Customers should respond to these emails.
I asked the Administrators what will happen if they make a payment and it bounces back to them because the account is no longer open. They say:
Where updated information is available from customers we will attempt to reprocess bounced dividend payments via electronic transfer. Alternatively, we will issue a cheque to the address held on file.
A blogger contacted the Administrators on the 14th February to ask why she hadn’t been paid and was told:
“I can confirm that the joint administrators have commenced distribution of dividend payments to unsecured creditors, including those with redress claims. Given the volume of transactions that need to now take place, the administrators cannot guarantee an exact date when individuals will receive payment but are aiming to complete transactions within the next two weeks.”
February and March – payments started but with problems
I was told by the Administrators on Friday 28th February that 90%+ of payments have been made and they expect to make the rest of payments over the next two weeks by BACS. About 22,000 the following week, about 13,000 the week after. It looks as though the 22,000 group got their money. It’s not clear to me how many of the 13,000 group have.
Many people in the comments below this article were reporting probems. These included people whose bank accounts had never changes. Problems included:
- confusion over whether a claims company has been paid or they will be;
- Wongasaid payment was sent to a claims firm that hadn’t been used;
- Wonga said a cheque was sent to a house you no longer live it;
- Wonga said a payment has been made to your bank account but it hasn’t arrived ;
- Wonga has said a payment was sent to an old bank account despite new bank account details having been given and co0nfirmed as having been received.
On 2 March the Administrators said the payment process was taking longer than expected and payments would continue to about 40,000 people over the next 2 weeks:
The Joint Administrators have now attempted to make dividend payments to over 410,000 creditors… In addition to the payments that were not made we have had approximately 40,000 payments returned to us due to incorrect customer bank details recorded on file with Wonga. We will now begin contacting these customers whose payments were returned, by email, to obtain correct and up-to-date bank account details.
The dividend payment process is taking longer than anticipated and payments will continue to be paid during the next two weeks.
On 19 March the Admistrator’s announced:
The Joint Administrators have now attempted to make dividend payments to over 443,000 creditors representing 98% of the creditor population. This includes payments to creditors whose payments were briefly held back from the initial payment phase whilst additional validation checks were completed to new bank account and/or address details that were provided. The Joint Administrators now continue to focus on the remaining small population of unpaid dividends in order to complete the payment process.
From here on progress was very slow, impeded by lockdown.
End August 2020 – administration ends – do you still have a problem?
Have you not been paid?
The Administrators final report blames the payment problems of Wonga’s poor systems and on creditors who did not update their bank details when requested to. But as many comments below detail, people who had never changed their bank account or who had updated their bank details several times and had each confirmed also experienced prolonged delays.
At 28 Auguest when the administration ended, there were still c 49,000 payments with a total value of £632,000 that had not been made – an average about of £13 per payment. About 70% of these were for amounts owed before the administration, so not affordability complaints.
The Administrators have passed the £632,000 to the Insolvency Service. If any creditors want to claim an unpaid amount, they should email CustomerServicesEAS@Insolvency.gov.uk.
A problem with your credit record
If there is a problem with your credit record then you now need to contact the Credit Reference Agency where the problem is showing – Experian, Equifax or TransUnion. Say you can no longer get an answer from the administrators as the firm has been dissolved so you would like the CRA to “suppress” the credit records (list them) as they are inaccurate.
This problem could have been an error by the administrators, who failed to delete the record. It could be an error by Wonga before the administration: the loan date or balance or default date is wrong – you want the default date to be as early as possible so it drops off sooner – or Wonga may have failed to add a default date.
If the CRA refuses, send the CRA a formal complaint and this can be sent to the Financial Ombudsman. In practice people are getting these sorted with the CRAs without having to go to the ombudsman.
Refunds from large loans & car finance
Refunds from other payday lenders
Is your credit card limit too high?
Craig says
Still no email, ah well here’s hoping for a decent payout for mine and my wife’s 10 years of provident loans each.
hayley stacey says
I got a great payout from provident a 3409 loan wiped and a cheque for £15000 took 2 years though lol
Craig says
That’s really good, we have had loans of about 1000 each for the last 10 years. Hopefully it doesnt take as long.
Emma says
Hi can I ask how you claimed from provident please.
Thanks
Craig says
I used the link at the top for door step loans.
Anger says
Administrators fees. £2.2 million.
F U.
Richard says
i been on this site all week yes i got the email yes it’s conturandly small but it is still better than nothing. nice seeing the posts i can relate alot to gambling issues mental health etc. tbh wish the email didn’t come had more fun with this site. nice one 🐫 good job.
Ricky says
The Joint Administrators are now in a position to declare a first and final dividend of 4.3p in the £.
You will receive a payment of £183.39. Your payment represents 4.3p in the £ on your agreed claim value of £4254.19.
Fox says
You will receive a payment of £45.72. Your payment represents 4.3p in the £ on your agreed claim value of £1060.63.
Rubbish
stephen g says
here it is
The Joint Administrators are now in a position to declare a first and final dividend of 4.3p in the £.
You will receive a payment of £66.13. Your payment represents 4.3p in the £ on your agreed claim value of £1534.04.
As you will be aware from previous correspondence to you, the payment you will receive is significantly smaller than your Accepted Claim Value. This is because the total value of all accepted claims for customers/creditors significantly exceeds the money available to be shared out.
feeling disappointed
hayley stacey says
£171 back from almost £4000 better than nothing I suppose but though I’d at least get around 300 back
Jayne Lewis says
£13.00 what a joke🤬🤬🤬
Beth says
£19.56 after 4 years of fighting and waiting. Speechless
Nick says
Slightly less than I was expecting (but not much), TBH I’m more annoyed about the delay in being paid. As I live with a constant bank overdraft, this will result in additional overdraft charges & interest, which will devalue the amount even further. : (
Len says
Hopefully it’s soon as it says within 4 weeks
DL says
Ok forget previous comment – not forgotten 😀
You will receive a payment of £361.49. Your payment represents 4.3p in the £ on your agreed claim value of £8385.82
Better than a kick in the teeth
Gary mac says
£16 it’s 4.3p to the pound and I was due £388 🤣 wonga can no longer update bank details so the 19 day I’ve waited to do so we’re for nothing. Called the administators in Glasgow so expecting a call from them tomorrow.
Simon Evans says
I can’t believe the comments on here what exactly were you expecting people did you not do the maths.
I thought anywhere between 1.5 and 7 but more probably around 3 pence in the pound
I can’t see how this site has given misinformation
There are a lot of people who are blasé about money which probably is in part why people get in such a mess financially
Just for the record I got £81 and I put the claim in with about 2 hours before the deadline I wasn’t going to bother as I knew the risks I was taking in repeatedly applying for wonga loans
Be grateful for what you got we could have got nothing.
Dave says
Well said. Talk about sulking.
Rachel says
£222.48 on a claim of £5161.01. Better than nothing. I’m off daffodil shopping. Toodles! 😊
Best says
I will get 44 pounds instead of 1023😂
Terri says
Hello, how do you do this with provident
Sara (Debt Camel) says
read https://debtcamel.co.uk/refund-doorstep-loans/ – the good news is they aren’t like;y to go bust!
Gio says
£127 for me, my redress was 3k, I was anticipating around £60 back……so I’m pleased with that.
Roxanne says
Well that went well…not
All that chat about giving us payments before end of January, now we have to wait four more weeks, I haven’t got an email yet.
Oh well better than nothing
King says
Email received. £148.61 out of possible £3474. I’ve made peace with the result lol. Thank the universe and be grateful I suppose lol. Glad it’s over.
Michele Stephen says
I have just checked my emails & I have my payment details confirmed…4.3p in the £ to be paid within 4 weeks
So I’ve have just over £400 coming to me out of the just over £10,000 I was owed
Hope this helps anyone
Michele
Peter says
7.40 is all im getting 🤣🤣🤣
Hannah says
I’m getting £6.12 woooooo
Zoe B says
Just received my email, I got 4.3p to the pound so £13 for my £320 ish 🙄
Alex says
Got 80 quid from 1800! Pretty poor.
Main thing is that this disgusting company will be removed from my credit file.
Timka says
Still no email for me either.
Nicola says
I have not got one etha. I will be phoning if I don’t receive paent tomorrow or Friday
Matt says
I’ve not got a email either
Dave says
Being paid within 4 weeks. Says in email when you receive it. Check spam/junk folder on email account.
Angela says
I checked my junk folder and still nothing. I was told my claim was accepted and asked to check my bank details but I’ve had absolutely nothing to advise me how much I would receive.
Does anyone have a phone number I can call?
Thanks
Kyle says
4.3p in the pound.
At least we all know now.
Luke Jobson says
Not over the moon at all but £257.90 for a filling out a 2 minute form after paying off Wonga and writing that money off is better than a kick in the nuts.
Bryan says
4.3p in the pound…😂😂😂..disgrace
Sam says
My redress amount in the email last year was just around £5800 now it’s advising £2876 so I’ll be receiving £121. There’s nothing I can do about this, I was expecting a low amount but for that to happen is frustrating.
I’m just glad I can get some closure and it’s finally over with. Big thanks to Sara (incredible job) and all the valuable contributions from a lot of posters. Time to move on.
Jackie says
Got the email. I’m getting 215.00
I had borrowed 5800.
Payment within 4 weeks.
Isla says
My claim amount was £11,370.00 and I am getting £495.00. I don’t know how to feel as after being locked in their cycle for 3 years where they took my whole salary I was just so thankful to get out of it. I didn’t know I could claim anything back until I received an email from Grant Thornton asking me to make a claim. If only I had known to claim before they went into administration but I didn’t so I have to think £495.00 is something I didn’t expect to receive at all until a year ago. I do think criminal charges should have been made against those running Wonga the way they did.
Paul says
Thank you to Sarah for running this site and allowing us to discuss this. What I got was something I never had last year nor was expecting so everything is a bonus . Better than a poke in the eye with a sharp stick and I’m looking forward to a cornetto.
Chris says
My claim was for £4929.00. I will get back just £212.24. However I would never had tried to claim if I had not had an email from Wonga about 1 year ago. So it’s free money to me.
However I am disappointed to see the joint administrators getting £2.2 million
Rich says
£8.43 😂😂😂😂😂
Carl says
It’s your round lol
Michael says
Sorry it’s an absolute embarrassing mess I got £9.67p , I’m far from happy
K WILLIAMS says
They promised us we would be paid by the end of January not the end of February.
chris c says
I think as much as the amount is disappointing the timing of the administrators email and subsequent delay to actually making payments is what has got peoples backs up, they knew after they stopped taking payments and did the sums what money they had, the logistics of paying the money out should have been thought about months ago when the portal closed its almost like they had 23 million sat in some bin bags and barring father christmas doing some overtime they had no way of getting it out to the creditors on the agreed date.
Andy says
£844ish, getting £34 back – 4.3p to the pound. A joke but glad we’ve finally got some kind of refult, as poor as it may be. Should be paid within 4 weeks apparently, possibly longer if you’ve only recently updated your bank details with them.
Alwen South says
Hey it’s better than nothing £254 out of £6000.. 4.3p… & gone from credit file
Jami says
Like most others I can confirm that it was 4.3p per £. I ended up with £247. The Administrators have provided two bits of important information in their emails:
1) How they figured out your dividends as in a breakdown of how much money they had and what was spent etc
2) This is the more important in my view. They say all credit files of those affected will be updated. I am sure Sarah in due course once all the current furore has died down might be able to explain what exactly will happen with regards to your files.
Overall its almost over! Dont criticise those who are venting their frustrations on the forum. For most this is the only place where they can discuss their anger etc over how all this was handled. We were all in a similar boat so lets just show a bit of unity and reassure our fellow posters.
Anonymous says
Hello,
Been following the thread but this is my first comment.
I get the anger and frustration of many at the 4.3% payment and have personally “missed out” on a lot more. The problem is the anger should not be directed at Sara who from what I have seen and read has essentially created a FREE service/educational site to help those she feels have been taken advantage of. She has consistently dismissed speculation on the payout amount and even the date of payment whilst still reassuring people they will hear when a decision is made.
More than telling you how to claim money from these companies I hope, and can say personally, she has helped to educate on just how bad this kind of debt is and that there is always help and it’s never just you suffering. She does this without judging why people used these predatory companies or other life circumstances.
Sorry to waffle, you will be glad to know this is my first and last comment. I just felt I had to say thank you Sara you have helped me more than you know without ever speaking to me.
Peace and love guys!
Mandy says
Well said, Sara has done a great job.
I was happy to get anything back, my loans helped me through a difficult time when no one else would help and I took them out fully aware of what I was taking on.
So thank you wonga £465.65 bonus I am now financially secure and will donate this to my local hospice Tapping house
Dean says
The Joint Administrators are now in a position to declare a first and final dividend of 4.3p in the £.
You will receive a payment of £253.74. Your payment represents 4.3p in the £ on your agreed claim value of £5886.19.
Shocking absolutely shocking!!!!
Timbouk says
It’s not the administrators fault they have dealt with this generally very well. If you are a creditor to a company in administration you generally get less than 5%.
My only disappointment is the up to 4 weeks payment however I expect most will be paid on Friday.
Jo says
I’ve received my email I will receive £94.99 within the next 4weeks my claim was for just over £2000.
Scotty says
Wow,getting £43 back from a claim just over £1000. Not happy. Some people are quite happy with their settlement.others understandably less so. But lets be honest,the broadest grins tonight will be on the faces of the bigwigs at Grant Thornton.
Lucy says
£34 back off of £803?!?!??
Was expecting a smaller amount but that’s absolutely ridiculous!!!!
Steph says
First of all, thanks Sara for this amazing website. It’s definitely been a source of comfort knowing there are many others in the same position as I am, and also reading about so many of them fighting back against the unfair penalties of poor credit worthiness.
After many years of ignoring the building debt and not rocking the boat with my creditors I’ve finally put in affordability claims with both Provident and Ferrentum. And that is thanks to this website and it’s fantastic advice.
My redress will be £131 off a total of £3042, but seeing as I haven’t used Wonga in over 5 years I feel very lucky, and thankful, to be getting anything.
Yes it could have been better, but it could also have been an awful lot worse.
Joanne says
@Sara if I’m a carer for my partner and on benefits of £1048 a year can I get tax back around £3k of payday refunds and bank charge refunds from April last year to now?
Many thanks
Jonathan Adam says
Bit confused. How come some have received emails and some haven’t? The 4.3 percent figure is all over the internet so it must be true, but what’s up with the lack of an email? I’ve received all the others.
Barry says
I have just had my email and can confirm its 4.3p to the £1. Will be paid up to 4 weeks time.
Dan says
I’ve only just teceive mine, looks like they are going out in batches
Bethany says
My 12 pounds 80p is disappointing, but all of this has learned me a valuable lesson. If I can’t afford it I won’t buy it. I am now accepting this as something that can’t be changed and moving on. Take care all.
Griff says
£40.60 from £950 what a joke! I make a complaint to Wonga years ago and they said they had done nothing wrong 😐😐
SUSAN RANKIN says
Finally at last a line can be drawn…
Claim value £2897.50 … will receive £124.90
Pleased to get something back…more pleased wonga will be off my credit file.
Just hope and pray all these payday loan companies get shut down … my lesson totally learned..never ever again would I attempt to go down the loan route…its all been a total nightmare
One thing that also angers me is that when I look at my credit file one of the things it states to improve my credit rating is to get a credit card!!… all crazy…not for me thankyou
Glad we can now all move on from this.
Sara says
You will receive a payment of £69.89. Your payment represents 4.3p in the £ on your agreed claim value of £1621.36.
The email also states that I will receive this within 4 weeks of this email :/ I’m sure it was suppose to be Friday?
Anyways….
Thank you Sara for all of your efforts.
Perhaps I’ll get better luck with the others 🤷♀️🙈
Jane says
£81 from £2000 claim!!! Better in my pocket I say 👌
Angela Rigley says
Well £20.17. back from £479.00.
Not really worth the effort
Toomuchhassle says
They will remove the credit history or missed payments.
Nicola says
I’m sure everyone feels a little gutted…. however, we took the loans out and at the time we agreed we could afford it as we were desperate! My claim was for £7123 and I’m getting £307! Yes gutting ! However, if they hadn’t of gone into administration would I be claiming…. probably not! It was something I should of never done! But needs must! For all of those people out there struggling and in a predicament of total hell, not knowing what to do with their debts…. stop burying your head in the sand and get help! 3 years ago I had to find a way out of the mess! I called step change, and I’ve been in a IVA for the last few years! Another 2 years and I’m debt free!!!!! I lived the total hell for longer than I needed too! It took a while to sort out, but the best thing I ever did!
Good luck to all of you!
King says
Totally agree. I was also in a mess and found help and went for an IVA. Not ideal but i at least have some money now a month I can put aside and I’ve actually started saving. IVA will also be paid off in few years. Was a lesson learnt.
Hannah says
I’m getting £6.12 woooooo
Andy says
Well. I got £16 and some pence.
For what it is not worth my private guess was (pi x 2) which would of rounded down to 7. Pi as chosen for humour thinking slice of cake,
I won’t lie it’s quite disappointing however some got less than that.
I would like to say something positive though:
May not have to wait four weeks as I assume that covers them sending out in batches, you might get your money quite soon.
Lastly as bad as it is it is worth remembering it could of been much worse! Yes really. Suppose for instance the sales of assets did not generate much, we -could- in that case ended up with something really silly like 0.1% or worse aka an apologetic email telling us there was nothing at all left.
Marie says
4% back. £17 from £410. That’s shocking. Bet the administrators have a big payout tho.
Julia says
Definitely. We have all been exploited. And we all knew how much we had been exploited by.. in my case £6500.. of which I’ll receive less than £300.
The amounts we were quoted were potentially life changing, they certainly were in my case.
Rest assured the administrators and financial gurus dealing with the Wonga mess won’t have received 4.3p per pound…
We need to watch what happens now to the remaining PDL companies…
Alex says
At the end of the day – payday loan companies have profited from all types of humans and still are! They are corrupt/ greedy/ and prey on vulnerable and desperate people ( truly disgusting) but hey ho it’s our choice although very sad in some cases! I’m personally upset at the 4.3p in the £1 which is laughable tbh – the government should of legislated this b####s##t many years ago, I know many people whose lives have been destroyed by these loan companies- good luck everyone out there x
Quczo81 says
You will receive a payment of £7.88 WWWOOOOHOOOOO HAHAHAHAHAH
MB says
Just received my email. 4.3p to the £. So £22.35 out of £518.48.
It’s insulting.
Matching their contempt for us with my contempt for them.
Kelly says
I’m getting £5.24 haha!! They may aswell keep it
Carl says
Well well well
It was around what I thought the % would be. After looking at the break down they’ve put up from £45m we all knew about months ago there’s nothing showing the foreign asset sales.
They’ve sold them but there’s nothing showing us for how much or where that money went because it’s not been added to the pot. The winners here looking at the amount of money they’ve taken is the company who dealt with it.
All their fees and what they say they’ve had to pay out is virtually half if the 45m plus whatever they pocketed for the foreign assists sold.
Then we have our proxy government who’s allowed wonga to do this for so long and tax them for years and years plus take over a million out of this pot. We are all mugs working our ass off for the government to take everything they can.
Jenni says
Can we challenge them regarding their decision?
Sara (Debt Camel) says
no – that’s all the money there is
Ian says
Hi sara serious question im getting around 300 back and look like paying 30% of it to a cmc obviously i havnt received 100% of my claim can the cmc still legally ask for 30% under these unprecedented circumstances doesnt seem fair that they can claim 30% when this has happened do you know of any small prints or where we legally stand in paying the full 30% thanks
Andy says
I’m no legal expert but I think they can have their 30% cut/fee of whatever you get in the end, be that say £10 or £10000 etc . Sorry. :(
Would suggest speaking to CAB soonish if possible if you cannot get free legal advice, CAB at least if nothing else can point you in the right direction. Hope all goes well in your favour.
Dave says
You will receive a payment of £225.47. Your payment represents 4.3p in the £ on your agreed claim value of £5230.36.
I really want to explode but I know that something is better than nothing. I’m more angry about the fact that there is £5k sat in one of the Wonga owners bank accounts that rightfully belongs to me. They should have all of their assets stripped and I intend to look into the possibility of going after them personally.
Sabrina Thompson says
I’m the same hun
I’m only getting 122.34 from a 2,800 agreed claim values
Like you said it’s better than nothing but still shocking low amount
tony says
So am I right that we could still be paid Friday?
How will we know, do we just keep having to check our banks every day to see if the money has gone in?
What about people who planned things expecting something back on Friday?
Mine is £340 but since we were told it would be paid by end of January then Friday is the last day so people may well have been depending on it to get there food shopping and stuff ??
Natalie says
Well we are all out of the dark.
I will be paying the rest of my credit card off with my £120.
Look on the bright side people, for me personally I am out of that awful payday loan cycle and moving on with my life.
Thank you Sara for a place we could all chat and have something in common.
Nick says
Sara – how do I work out how much of my (just over) £100 relates to tax (so that I can claim a refund)?
Andy says
Hi Nick,
See here for some specifics about that.
https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
It is a lot easier than it looks at first glance (unless you are self employed in some cases but that’s quite easy too tbh) don’t be put off claiming, it’s your money :) All the best.
Jenny says
You will receive a payment of £38.18. Your payment represents 4.3p in the £ on your agreed claim value of £885.62.
Just received this email from Wonga so posted the important bit so you can work it out x
Colin says
I’m more or less the exact same!
Chris Green says
£2080 down to £89….. GUTTED! ☹😩
John Smith says
Owed £17,000 getting £700 bloody thieves. Gangsters taking money and getting richer off people trying to survive. Filth, scum.
Laura says
I am getting £431.44. To be honest it is more than I was expecting.
I took these loans out and fell into the same cycle as I have read others did. I never in a million years thought I would get anything back at all.
And thanks to Sara I have now put in affordability complaints with the other loans I have had. So just playing the waiting game.