
Teenager killed himself hours after Wonga cleared out his account - grkvlt
http://www.theguardian.com/business/2015/sep/25/teenager-killed-himself-wonga-cleared-out-account
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SCAQTony
That story has so shaken me. Just learned now that these Payday loan ops
charge on average 391% to 521%.

[http://www.responsiblelending.org/payday-lending/tools-
resou...](http://www.responsiblelending.org/payday-lending/tools-
resources/fast-facts.html?referrer=https://www.google.com/)

Clearing a bank account could obviously lead to more significant damage to
society at large than a loan company that "only made" 75% off the original
loan.

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grkvlt
Curious if this is the YC incubated company or some other entity?

~~~
stephengillie
There's a YC incubated company named Wonga? Searching "Wonga YC" brought few
results.

Their Techcrunch article doesn't mention YC...
[http://techcrunch.com/2012/05/07/wonga-extends-its-payday-
lo...](http://techcrunch.com/2012/05/07/wonga-extends-its-payday-loans-to-
small-businesses-in-uk/)

Previous discussion of Wonga using a fake law firm for enhanced collections,
doesn't mention them as a YC company:
[https://news.ycombinator.com/item?id=7943094](https://news.ycombinator.com/item?id=7943094)

