Wonga, Loans Company, Mercilessly Mocked After Posting Loss

[Pete]

Payday lender Wonga has slumped into the red after revenues slumped by almost £100 million last year... prompting zero sympathy and almost everyone on Twitter to make the same joke.

The controversial lender posted a loss of £37.3 million following a big reduction in UK consumer lending while it attempts to clean up its tarnished image for its high interest loans.

The reaction suggested these high interest loans are what most people think of when they think of Wonga.

Tweets:

"Pay Day Lender Wonga announced a £37m loss at 8am today, at 10am it'll be £45m, at noon £76m and by 2pm £103m..."

"Wonga announce loss of £37.3m rising to £7.8bn in six months once 5000% interest included."

"Wonga pretax loss of £37m, though by tomorrow that will be £50m and in a week £100m..."

"Wonga have announced annual losses of £37million. I'm prepared to lend them £100 so long as they give me £2480 on Friday."

"Wonga has reportedly lost £37.3 million in the last year. Apparently they borrowed £100 2 years ago."



http://huff.to/1J5Eh1A

[Old Cruser]

Si this high pay back rate has come back to bite Wonga on the butt - good!!
Greedy gits!!

This comes as today we here of 'Which' reporting the supermarkets for 'conning' punters in their stores with offers BYGOF which are more expensive than maybe buying the two single items.
Partly the punters fault for not checking this out before buying - but not everyone is able to do Maths in this way

[Pete]

Cant be much of a company if they can't show a profit with their interest rates.

[Old Cruser]

Cant be much of a company if they can't show a profit with their interest rates.

there's a big chance they have loaned money to people who couldn't afford the payments, as things are today it wouldn't surprise at all.
No sympathy for them !

[Scimitar]

Serves them right. Irresponsible lending with extortionate interest rates conning the vulnerable. No sympathy - only to their unfortunate customers