Without a doubt about Wonga borrowers tell their stories: ‘I experienced no choice’

Without a doubt about Wonga borrowers tell their stories: ‘I experienced no choice’

The borrowers say, they had no alternative in many cases. Some had credit that is bad, other people had been on benefits or had simply lost their jobs. Frequently they might maybe perhaps not think that anybody would consider lending them even cash. However with its high-profile soccer sponsorship discounts and prime time television advertisements, Wonga ensured it had been the name that sprang to mind when anyone required money in a rush – and 1000s of desperate candidates discovered they might get that loan in the end.

Significantly more than 250 borrowers contacted the Guardian to inform us exactly exactly just how and just why they borrowed and exactly how their debts racked up. Some will are in possession of their loans written down, but others repaid their debts and arrears by borrowing more, by embracing household for monetary help or entering debt that is formal plans. [Read more…]