PAYDAY loans giant Wonga is said to be on the brink of going under.
The company was kept afloat three weeks ago thanks to a £10million emergency cash injection from shareholders.
PA:Press Association
But sources say it merely encouraged a new wave of compensation claims for alleged unfair debt collection practices.
Wonga has been accused of targeting vulnerable customers and charging sky-high interest.
Administrators are understood to be on stand-by to take over the loans giant if it is declared insolvent.
Insiders say news of the lifeline only spurred fresh legal action from claims management companies who have been circling Wonga for years.
Alamy
Read the full article at: https://www.thesun.co.uk/news/7105601/wonga-brink-collapse-compensation-claims/