Wonga wrote off £220m of debts for 330,000 customers earlier this month after it was found to be using insufficient lending checks on borrowers.
We have begun to identify which customers are affected and over the next few weeks we will have communicated with all customers who have a Wonga loan on their plan with us to ensure they are informed at all stages as to the potential changes to their plans.
Once we are authorised to remove customer’s debt from their Financial Management Plan, any contributions they make will be dispersed among their other creditors, so they can pay off their remaining debts quicker. In the case of IVAs, their contributions will be dispersed among their remaining creditors but in most cases their plan term will remain the same.
We are working to get all the plans of affected customers updated as soon as possible.
FMP customers should email firstname.lastname@example.org if they have any queries, or complete the Wonga survey we have emailed to them to update their plans. IVA customers should forward their confirmation email from Wonga, or email any questions, to email@example.com.