Wonga.com – a ticking time bomb, but not just for the usual reasons
This is a summary of a longer, more detailed, note that appears on investorschampion.com in the Company Activity section. To view the full note please log in or register with us and click: http://www.investorschampion.com/research/company/wonga.com/ and download the PDF file.
Wonga’s Wizardry
For some, Wonga.com draws up connotations of the archetypal Vinnie Jones-esque loan shark character donning a black leather jacket, greased back hair and a knuckle duster in their pocket. Yet, there is another twist to the story, one in which Wonga themselves are the victim.
Wonga is one of 240 so-called Payday Lenders, licensed under the Office of Fair Trading, to provide short term quick access loans. They are oft criticised…
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