40,000 lose out at Wonga

MORE than 40,000 Wonga mis-selling victims have lost the chance to claim compensation because of its collapse.

The figure, revealed by administrator Grant Thornton, is over four times the number initially thought to have been affected.

Those left out are Wonga customers with compensation claims which were not settled before the payday lender went bust.

Grant Thornton is resolving complaints, and says it will set up a website where customers can make a claim, although there is no date for when this might happen.

Treasury Select Committee chairman Tory MP Nicky Morgan said: ‘This is clearly much bigger than expected. It appears over 40,000 people, and rising, may have an unresolved complaint about mis-sold loans.’ She said there are questions over whether the Financial Services Compensation Scheme should expand to cover payday borrowers.