Have you received a Wonga loan settlement letter?
In August 2018, payday loan company Wonga entered into administration. They’ve not accepted new loan applications since then.
Independent administrators are now helping Wonga to settle their outstanding customer accounts.
From 8 October 2019, Wonga are contacting all of their former customers to offer a discounted settlement of existing loan amounts.
The discounted loan offer can only be accepted and repaid before the 22 November this year.
I was a Wonga customer and still have a debt with them. What will happen next?
If you agree to pay the settlement figure they offer this payment will be the final loan payment. The loan will then be closed, and Wonga will report the loan to credit reference agencies as having been paid in full. Customers who make this payment will no longer be considered to be in arrears with their Wonga loan. If Wonga had reported a default to your credit file, this will be updated to show the default has been satisfied.
I can't afford the discounted settlement offer. What should I do?
You should continue making your payments to the loan as normal. Wonga customers can continue using their services to manage their existing loans. The administration process won’t affect the repayment term of your loan and if you miss payments you'll be subjected to the firms standard debt collection process.
If you have any questions, you can contact Wonga on 0207 138 8330
. They’re open Monday to Saturday, 7am – 8pm and Sundays, 8am – 5pm. They’ve updated their website with
FAQs since the announcement