And complaints are rocketing. The Financial Ombudsman received almost 11,000 in the 1st 90 days with this 12 months вЂ” a 251 % enhance in contrast to exactly the same duration year that is last.
At some companies, up to seven out of ten had been upheld in preference of the client.
Gone: Wonga’s OAP puppets. The lender that is payday that was Britain’s biggest, has collapsed into management
Yet cheery promotional initiatives вЂ” just like the jolly OAP puppets utilized by Wonga вЂ” carry on to attract in susceptible borrowers looking for a short-term loan.
And despite a federal federal government crackdown, which saw interest fees capped at double the loan that is original costs are eye-watering.
So who’re the Wonga wannabes?
The facial skin of Sunny Loans is just a fictional surfer called Sonny.
He could be a ‘super chilled dude’ who never stresses because ‘he understands that with all the support that is right their life you don’t have to worry’.