Wonga Administrator Update

[fkofilee]

FYI

 

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Update from the Joint Administrators of Wonga Dear Victim Following a court hearing on 25 April 2019, the Joint Administrators of WDFC UK Limited (trading as Wonga.com) include links below to two statutory notices that are being provided to you as someone who has submitted a claim or may in due course. 1. Notice of intention to declare a dividend This can be accessed by the link below: WDFC UK Limited - Notice of intention to declare a dividend Please note that in order for the Joint Administrators to set a final date for those who are owed money to submit a claim, they must issue the notice in the link above. As you will see from the notice, all claims must be submitted by 30 September 2019 or they may not be considered for payment. It is expected, unless you receive a notification to the contrary, that the Joint Administrators will make a payment to accepted claimants within four months of 30 September 2019, i.e. by 30 January 2020. For those claimants who have already submitted a claim, no further action is required from you at this stage and the Joint Administrators will be in touch when they are ready to assess your claim. If you have not yet submitted a claim and believe you have been sold an unaffordable loan by Wonga, as per our previous correspondence, all customers should make a claim through the Online Claims Portal by clicking on the button below. Submit your claim now Please be aware, if successful, the payment you receive will be considerably smaller than your accepted claim amount. This is because it is expected that the total value of all accepted claims received will significantly exceed the money available to be shared out. The money available to be shared out will not be known until all of Wonga's assets have been sold or realised and certain costs and deductions have been taken into account. 2. Notice of extension of administration This can be accessed by the link below: WDFC UK Limited - Notice of extension of administration An Administration is typically a 12 month process. As explained above, it will not be possible to collect in, assess and pay money to claimants within that time period, as such the Joint Administrators have had approval from the Court to extend the Administration by a further 12 months (to 30 August 2020) and the statutory notice above confirms this. No further action is required by you in respect of this notice. If you have any questions or require any further information, please visit our FAQs on our website. Kind regards, The Joint Administrators wonga.com [email protected]

 

[fkofilee]

Slight Update - All payments should be made by the end of this week. However the Customer Service Team are unable to say how much is due as they "Dont have access to say" 

Payments should be made by BACS to your Bank Account. 

 

Please keep an eye out. 

[taximan45]

All I've had on any communication is 'your payment will be considerably smaller than the agreed claim amount'

[fkofilee]

Will be between 8 and 10 pc from the info I've had from a source. 

[fkofilee]

Bad News - Is about 4%

 

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WDFC UK Limited - In Administration (the Company)

The Joint Administrators are now in a position to declare a first and final dividend of 4.3p in the £.

You will receive a payment of £5.79. Your payment represents 4.3p in the £ on your agreed claim value of £134.25.

Please note, if you are represented by a CMC/Third Party and have provided us with instructions that your CMC/Third Party representative should be paid on your behalf, the above amount will be paid to your CMC/Third Party representative directly.

As you will be aware from previous correspondence to you, the payment you will receive is significantly smaller than your Accepted Claim Value. This is because the total value of all accepted claims for customers/creditors significantly exceeds the money available to be shared out.

As per our previous assessment email, we have also taken steps to update your credit file in accordance with the outcome of your assessment. All credit file updates in association with this claim should be completed within approximately 45 days of this correspondence.

If you are being represented by a CMC/Third Party, a copy of this email has been sent to your CMC/Third Party representative.

When will I receive my final dividend payment?

As a result of the volume of dividend payments due to customers/creditors, you will receive your payment within four weeks of this email. Please note that if you have recently provided your bank detail updates to the Customer Care team, your payment may take longer to receive while your updates are processed.

The Wonga Customer Care team are no longer able to accept any bank detail updates. If you do not receive your payment within four weeks, please contact the Wonga Customer Care team using the details provided below.

For more information in relation to the dividend payment, please visit our FAQs.

If you have any urgent queries that are not answered by our FAQs, please contact the Wonga Customer Care Centre at [email protected] or on 020 7138 8330.

It is important to note that the Customer Care team will be experiencing higher than usual volumes of calls and emails. Therefore it may take them longer to respond.

A copy of the Joint Administrators’ receipts and payments account to date and dividend disclosure can be found by accessing the link below:

Link: Joint Administrators' receipts and payments account and dividend disclosure

Yours sincerely
for and on behalf of WDFC UK Limited

The Joint Administrators
wonga.com
[email protected]

 

[fkofilee]

Latest info 

 

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Creditor Claims Of £535,636,017 

This is the extent of the damage Wonga has caused... I hope this serves as a lesson to everyone. Please steer clear of PDLs.

[taximan45]

£535m in claims!

[fkofilee]

That's approved claims... 

It was substantially higher... 

[taximan45]

5 weeks and still no refund, how surprising

[fkofilee]

I've had mine for £5...

Should be done soon me thinks...