Wonga to write-off debts of 330,000 customers

Wonga announced the move today. Pic: comp
Wonga announced the move today. Pic: comp
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Wonga is to write off the debts of 330,000 customers whose loans would not have been made under new affordability criteria being introduced by the pay-day lender, it emerged today.

The news comes days after it reported a slump in profits as it counts the cost of a drive to clean up the image of the business.

Wonga said the 53% slide in profits to £39.7 million in 2013 was in part due to a one-off charge in relation to a recent scandal over fake legal letters, which were used in order to chase struggling customers into paying up.

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