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What will happen to your Wonga  debts if it collapses?

If you have an existing arrangement with Wonga, you may be wondering what happens next. Its important to realise that even if Wonga goes into Administration, you will still be liable to repay your obligations to them.

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Rising levels of debt in the UK and Scotland

Research has shown that people living with debts may suffer a range of mental health problems, including depression and stress. People living in Scotland had almost 10% more debts than the average for the UK.

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Early money advice is best advice

In Scotland last year over 10,000 people entered a formal personal insolvency process. Both Sequestration and Trust Deeds are formal insolvency processes in Scotland which allow individuals to write off some of their debts.

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