Wonga no longer Wonga no longer
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    Default Wonga no longer

    Wonga collapses into administration | Daily Mail Online

    what's the betting they sell the loan book as is and forget to pay the suppliers.

    BREAKING NEWS: Payday loans firm Wonga collapses into administration after a surge in compensation claims
    Wonga said the UK business would not be accepting any new loan applications
    Grant Thorton will be appointed administrator after a surge in compensation
    Are you a Wonga customer? Get in touch - tim.stickings@mailonline.co.uk
    bet there is no justice, maybe they can put the directors away for 3,424 years?
    "If you didn't do anything that wasn't good for you it would be a very dull life. What are you gonna do? Everything that is pleasant in life is dangerous."

    I want to see the hand of history on his collar.

  2. #2

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    Quote Originally Posted by vetran View Post
    Wonga collapses into administration | Daily Mail Online

    bet there is no justice, maybe they can put the directors away for 3,424 years?
    Why, is it illegal for a company to go bust? Any suggestion of wrong-doing by the directors?
    Next time analyse your brain farts before posting to avoid making an arse of yourself.
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  3. #3

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    Quote Originally Posted by sasguru View Post
    Why, is it illegal for a company to go bust? Any suggestion of wrong-doing by the directors?
    Next time analyse your brain farts before posting to avoid making an arse of yourself.
    It is not illegal for a company to go bust, however if there is criminal ,fraudulent or sheer incompetent activity that preceded the move to administration then that is sufficient to prosecute. If you are or were a company director you should be aware of that.

    It being proven they knowingly targeted the vulnerable - hence the surge in successful compensation claims causing them to go into administration and an FCA investigation in any sensible world would trigger a case. Lets hope the papers pursue it. These are bottom feeders of the lowest order, I consider them much below you.

    This under the 2006 company act this is enough for prosecution.

    https://www.hcrlaw.com/blog/director...nies-act-2006/


    The problem with your brain farts is that you normally follow through, thus providing the particularly poor level of posting we are used to from you.
    "If you didn't do anything that wasn't good for you it would be a very dull life. What are you gonna do? Everything that is pleasant in life is dangerous."

    I want to see the hand of history on his collar.

  4. #4

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    Quote Originally Posted by vetran View Post
    It is not illegal for a company to go bust, however if there is criminal ,fraudulent or sheer incompetent activity that preceded the move to administration then that is sufficient to prosecute. If you are or were a company director you should be aware of that.

    It being proven they knowingly targeted the vulnerable - hence the surge in successful compensation claims causing them to go into administration and an FCA investigation in any sensible world would trigger a case. Lets hope the papers pursue it. These are bottom feeders of the lowest order, I consider them much below you.

    This under the 2006 company act this is enough for prosecution.

    https://www.hcrlaw.com/blog/director...nies-act-2006/


    The problem with your brain farts is that you normally follow through, thus providing the particularly poor level of posting we are used to from you.
    Yes, yes unlike you I have been a successful contractor, and hence company director, for most of my career.

    However you don't seem to understand English though - I asked you what evidence of wrong-doing (not moral but legal) by directors of Wonga you had to justify your libellous post?
    Hard Brexit now!
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    Ignore assguru, he's still paying 434457% APR on that first Aygo he bought 10 years ago.


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    Quote Originally Posted by sasguru View Post
    Yes, yes unlike you I have been a successful contractor, and hence company director, for most of my career.

    However you don't seem to understand English though - I asked you what evidence of wrong-doing (not moral but legal) by directors of Wonga you had to justify your libellous post?
    You are scooterscot and I claim my 5 Scottish (not legal tender) pounds...

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    Quote Originally Posted by sasguru View Post
    Yes, yes unlike you I have been a successful contractor, and hence company director, for most of my career.

    However you don't seem to understand English though - I asked you what evidence of wrong-doing (not moral but legal) by directors of Wonga you had to justify your libellous post?
    You had to follow through didn't you!

    The reason for the collapse are a large number of valid compensation claims. They are not paying out because they are nice guys its not a morality issue, legally they have no choice otherwise they would fight it. If they are unable to satisfy those entitled to compensation from company funds and continued to operate if they knew they were breaking the law then its entirely possible that the law can prosecute and remove the LTD company protection and their houses, I and most people are rather hoping that happens.

    The extra powers came in the 2006 legislation meaning they not only have to prove they were behaving themselves AIUI they also have to prove they weren't negligent in behaving themselves. They were followed in 2014 with specific affordability rules, with a bit of luck they were ignoring those and someone can really go to town on them.

    My post is not libellous, they are admitting they are paying lots of compensation because they did not follow the rules, they are saying they are going into administration because they can't afford to compensate those they mistreated. I am hoping someone follows this with some sort of prosecution using the new laws and makes it clear cynically targeting the desperate is not an acceptable business practice.

    Again if you knew what you were talking about then I would expect hell to freeze over.

    You seem very supportive of a company whose business practices are regularly accused of preying on the poor. Are you an investor or a Director?
    "If you didn't do anything that wasn't good for you it would be a very dull life. What are you gonna do? Everything that is pleasant in life is dangerous."

    I want to see the hand of history on his collar.

  8. #8

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    Default Wonga no longer

    The government have offered to bail them out with a taxable loan at 4395% interest.
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    Quote Originally Posted by vetran View Post
    You had to follow through didn't you!

    The reason for the collapse are a large number of valid compensation claims. They are not paying out because they are nice guys its not a morality issue, legally they have no choice otherwise they would fight it. If they are unable to satisfy those entitled to compensation from company funds and continued to operate if they knew they were breaking the law then its entirely possible that the law can prosecute and remove the LTD company protection and their houses, I and most people are rather hoping that happens.

    The extra powers came in the 2006 legislation meaning they not only have to prove they were behaving themselves AIUI they also have to prove they weren't negligent in behaving themselves. They were followed in 2014 with specific affordability rules, with a bit of luck they were ignoring those and someone can really go to town on them.

    My post is not libellous, they are admitting they are paying lots of compensation because they did not follow the rules, they are saying they are going into administration because they can't afford to compensate those they mistreated. I am hoping someone follows this with some sort of prosecution using the new laws and makes it clear cynically targeting the desperate is not an acceptable business practice.

    Again if you knew what you were talking about then I would expect hell to freeze over.

    You seem very supportive of a company whose business practices are regularly accused of preying on the poor. Are you an investor or a Director?
    You could have simply said "No, I have no evidence that any laws were broken".
    Your blancmange mind is why you'll not rise higher than chief Fluffer for the immigrant talent in your firm.
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    When I worked for Provident in Bradford they were one of 3 'trade names' under the same roof ...

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