|
|
Post by easteregg on Jan 11, 2015 8:40:21 GMT
Wonga's peer-to-peer offering - Invest and Borrow - has lasted less than a year. A notice on its website states that it has been closed down. blog.p2pmoney.co.uk/ |
|
|
|
Post by davee39 on Jan 11, 2015 10:09:06 GMT
Wonga's peer-to-peer offering - Invest and Borrow - has lasted less than a year. A notice on its website states that it has been closed down. blog.p2pmoney.co.uk/Not enough to simply like I like this A LOT! 
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Jan 11, 2015 17:13:27 GMT
The part I don't understand is I&B's message to borrowers...
Quite a bonus for borrowers, but what does it mean for lenders?
|
|
|
|
Post by easteregg on Jan 11, 2015 17:58:39 GMT
I believe Invest and Borrow operated a provision fund, so all lenders should be covered by this.
Perhaps they had so few loans the cost of writing off these loans were less than the operating costs of the business. It could also be the loans were somehow unenforceable.
|
|
