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Payday loan provider Wonga falls into administration

Wonga enters into voluntary administration

On 30 August 2018, payday loan company Wonga entered into voluntary administration. They'll no longer be accepting new loan applications.

A team of independent administrators from a company called Grant Thornton will now assess all the available options for Wonga. The team plan to update Wonga customers in due course.

I have a loan with Wonga, 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.

I’m a StepChange client with a Wonga loan, what should I do?

Continue making your monthly payment DMP or TPP to us as normal. We’re monitoring the situation closely and will make sure your payment gets to where it needs to be.

Your loan is still a qualifying debt and Wonga going into administration should have no impact on the success of your DRO.

Keep making your IVA or trust deed payment as normal. We’re monitoring the situation closely and will make sure your payment gets to where it needs to be.

Your Wonga loan can still be included in your bankruptcy or sequestration. Wonga going into administration shouldn’t impact your solution and your official receiver (OR) or Accountant in Bankruptcy (AiB) should be aware of the on-going situation.

I’m worried about my debt, what should I do?

If you’re worried about your Wonga loan or any other debts, you need expert debt advice. Our team of debt experts help 620,000 people a year to deal with their debt problems. Our free, impartial and confidential advice is tailored to your situation.

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They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

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