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Wonga collapse actually leaves Britain's other payday lenders in firing line


LONDON (Reuters) - The collapse of Britain’s biggest payday loan provider Wonga probably will turn the heat up on its competitors amid a rise in grievances by clients and telephone phone phone calls by some politicians for tighter legislation. Britain’s poster youngster of short-term, high-interest loans collapsed into administration on Thursday, just months after increasing 10 million pounds ($13 million) to aid it deal with an boost in settlement claims.

Wonga stated the rise in claims had been driven by alleged claims administration businesses, organizations which help consumers winnings settlement from companies.

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