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Complainant Name:
Wonga

Clauses Noted: 1

Publication: The Mail on Sunday

Complaint:

Wonga complained through legal representatives that a headline assertion that "one million borrowers were struggling to repay loans" was inaccurate and misleading under Clause 1 (Accuracy) of the Editors' Code of Practice.

Resolution:

The matter was resolved when the PCC negotiated the publication of the following correction:

On January 20 a Financial Mail headline said a million borrowers at Wonga were struggling to repay loans. In fact that figure was the approximate number of loans falling late since Wonga's launch in 2007. The majority of these arrears are repaid. Wonga has made almost seven million loans totalling more than 2billion with a ‘bad debt' ratio of seven per cent, comparable to other forms of consumer credit.

We are happy to make this clear.

Date Published: 21/06/2013



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