Home Blog Page 23

8 K-Dramas With Food Scenes That Will Make You Hungry

0

Do you like good food? These K-dramas will have you order delivery from the nearest Korean restaurant (or grocery store)! But wait, there’s more: get ready for a parade of tasty dishes that also go beyond Korean cuisine. These dramas will serve you all kinds of #foodporn that will keep your stomach full while waiting for your food delivery to arrive.

Below is a list of K-dramas that feature the best food scenes, which you can watch on Netflix, Viu, and iQIYI:

1. Dinner Boyfriend (2020)

Who’s in it: Song Seung Heon, Seo Ji Hye, Lee Ji Hoon, Son Nae Eun

Where to watch it: iQiyi

Webtoon based Would you like to have dinner together?, Dinner companion tells the story of two strangers who decide to have regular dinners without sharing personal information and without commitment. Do Hee (Ji Hye) is a producer-director whose cheating BF becomes part of the reason she meets Hae Kyung, (Seung Heon) a psychiatrist specializing in food therapy. The two eat pretty much everywhere in the drama, and we’re treated to dishes as simple as a convenience store. ramyeon to more extravagant dishes like a refined steak in a restaurant.

Continue reading below ↓

2. Hospital Reading List (2020 – ongoing)

Who’s in it: Jo Jung Suk, Yoo Yeon Seok, Jung Kyung Ho, Kim Dae Myung, Jeon Mi Do

Continue reading below ↓

Recommended Videos

Where to watch it: Netflix

This heartwarming slice of life from the director of the famous Reply The series follows the lives of five doctors, all of different specialties, who have been friends since medical school. While the drama isn’t about the food, the characters eat a lot. There are tons of scenes in the hospital cafeteria and samgyupsal eateries, and we’ve come to love the iconic egg sandwich (from a Korean chain), little Uju continues to eat too. The cast eats so delicious our stomachs can’t help but growl!

3. Sweet snacks (2020)

Who’s in it: Jung Il Woo, Kang Ji Young, Lee Hak Joo

Where to watch it: Viu

Kim Ah Jin (Jin Young) is looking for a gay chef for his cooking show. Enter Park Jin Sung (Il Woo), the chef at Ah Jin’s favorite restaurant. He needs the money ASAP, so he’s lying about his sexuality to get the part. Jin Sung cooks for the show and in his restaurant, so there are mouth-watering cooking montages in every episode. Fun fact: Main star Jung Il Woo is a culinary expert himself and he really did a part of the show’s cooking. If you want more of Il Woo’s cooking, watch him on the reality show Best Celebrity Recipe at Fun-Staurant.

Continue reading below ↓

4. Itaewon class (2020)

Who’s in it: Seo Joon Park, Kim Da Mi, Kwon nara

Where to watch it: Netflix

After his father’s death, Sae Ro Yi (Seo Joon) vows revenge on the Jang Ga group by creating the best restaurant franchise ever. As he grows his bar and restaurant, DanBam, he assembles a motley team who support him through hardships as President Jang tries to bring him down every step of the way. Itaewon class showcases the food from start to finish, but the star of the show is DamBam’s signature dish, sundubu jjigae (soft tofu stew) served with soju.

5. Chocolate (2019)

Who’s in it: Yoon Kye Sang, Ha Ji Won, Jang Seung Jo

Where to watch it: Netflix

Back when they were kids, aspiring chef Kang (Kye Sang) promised to give Cha Young (Ji Won) some hungry chocolate truffles he made, but that never happens. Years later, they meet again. Kang is now a frustrated neurosurgeon, while Cha Young has become a cook. The two characters use food as a means of bonding, and the series features beautiful scenes of preparing dishes ranging from savory seafood dishes to chewy pastries.

Continue reading below ↓

6. Wok of love (2018)

Who’s In: Lee Jun Ho, Jang Hyuk, Jung Ryeo Won

Where to watch it: Netflix, Viu

From the author of another food-centric drama Pasta comes a romantic comedy starring a mix of characters who run a Chinese restaurant. We have a former hotel chef (Jun Ho), a fallen heiress (Ryeo Won) and a former gangster (Hyuk) who join hands to bring delicious comfort food to the neighborhood. This drama features top notch cinematography for its culinary scenes. We cannot overcome their jjajangmyeon (black bean noodles) – such a tasty dish that he decided heiress Sae Woo to turn a new leaf in the series.

7. Weightlifting Fairy Kim Bok Joo (2016)

Who’s in it: Lee Sung Kyung, Nam Joo Hyuk, Lee Jae Yoon, Kyung Soo Jin

Where to watch it: Netflix

In this sweet coming-of-age romance, aspiring weightlifter Bok Joo (Sung Kyung) crushes Doctor Jae Yi, the older brother of swimmer Joon Yung (Joo Hyuk). As Joon Yung helps her, he begins to fall in love with her instead. Now this drama is like an ode to Korean barbecue and fried chicken (we’d also like to thank Lee Jong Suk for his fried chicken cameo). Watching Bok Joo eat is the best mukbang experience ever. Who can forget the scene where she shares the BFN (barbecue, fried rice, naengmyeon) routine to get the most out of your K-BBQ?

Continue reading below ↓

8. Let’s eat 2 (2015)

Who’s In: Yoon Doo Joon, Seo Hyun Jin, Kwon Yul

Where to watch it: Netflix

This drama has three food seasons, so you’re free to watch them all and enjoy all the food scenes. we highlight Let’s eat 2, our favorite season, which focuses on Dae Young (Du Jun) moving to a new city outside of Seoul. He helps his next door neighbor, Soo Ji (Hyun Jin), grab the attention of the man she loves, while falling in love with her along the way. Dae Young is a food blogger, so there are food scenes in every episode like a Chinese food feast and all kinds of oyster dishes (pancakes, rice, etc.). Yum!


Source link

Cebu City EOC: wear masks even inside restaurant-bars

0

Deputy Chief EOC Implementation Advisor, Advisor Joel Garganera.

CEBU CITY, Philippines – The Cebu City Emergency Operations Center (EOC) encourages restaurant-bar enthusiasts to wear masks even inside such establishments.

Councilor Joel Garganera, deputy chief of implementation of the EOC, said restaurant bars remain a problem for the city’s coronavirus disease 2019 (COVID-19) situation.

He said people inherently lower their guard inside these establishments to take advantage of food and alcohol increasing the risk of transmission.

“Ang diperensya aning bars kay once gani, it only takes one positive individual, super spreader na siya. So ingani ni, we had a meeting with the BPLO and the rest of the doctors. Naa gane mo sa bar, it is imperative diha ninyo that you have to wear a mask, ”Garganera said.

Thus, establishments and customers are encouraged to respect the policy of wearing masks inside the premises, except when eating or drinking.

This way, people who are not eating or drinking yet can reduce their risk of contracting the virus.

Garganera said they did not have conclusive data indicating there was an increase in COVID-19 among people visiting the bar.

Indeed, most of them who admit having frequented bars also went to areas at high risk of transmission, including grocery stores and markets.

“Dili pa kaayo siya concluding (ang data). Naa na siya, but you know, as he visited 3 zones, 4 zones this particular person nga nangadtog bar, grocery store, nisakay ni siya sa public transport, so kanang mga ingana ba. ”

“Not necessarily nga gi zero nimo nga didto sa bar nakuha. Dili pa gyud ingon nga concluding, but we don’t want to wait for this, because we can prevent this,” said the advisor.

The EOC warns establishments serving alcohol to follow sanitary protocols as the city will not tolerate violators.

Establishments that violate health protocols risk losing their special liquor permits and even business permits. / rcg

Read more

Warning: Comments uploaded to this site do not necessarily represent or reflect the views of the management and owner of Cebudailynews. We reserve the right to exclude comments that we deem inconsistent with our editorial standards.


Source link

Workers turn to PAYROLL LOANS to make ends meet and pay unexpected bills, survey finds

0

Damaging new research has revealed that public sector workers are turning to PAYROLL LOANS to make ends meet.

The study came to light a day after Theresa May narrowly beat an offer to end the pay freeze in the House of Commons.

2

Shocking poll from UK’s largest independent loan comparison site today found public sector workers are turning to payday loans to make ends meetCredit: Getty Images

The Labor amendment was rejected by 14 votes, with 309 MPs supporting it and 323 against.

The ten deputies of the Democratic Unionist Party supported the conservatives.

But the question is unlikely to end there.

A shocking poll from the UK’s largest independent loan comparison site today found that public sector workers are turning to payday loans to make ends meet, given the steep rise in prices and increasing pressure on those who “almost manage”.

    More than one in ten say they need money to pay their mortgage and rent commitments

2

More than one in ten say they need money to pay their mortgage and rent commitmentsCredit: Getty Images

Readys.co.uk, a licensed credit broker who compares business, personal and auto loans, last month surveyed 8,000 anonymous visitors to its website looking for short-term borrowing.

Of those who have a job seeking a payday loan, the largest number (27 percent) work in public sector fields such as nurses, teacher assistants and municipal staff.

Most of those looking for a payday loan said the money would be used to pay unforeseen bills because they didn’t have enough savings, while 18% percent looked for additional funds to pay off a loan. EXISTING payday loan.

More than one in ten people say they need money to pay their mortgage and rent commitments, and ten percent say they need extra money to pay their utility bills.

Stephanie Cole, Director of Operations at Readies, said: “Payday loans are stigmatized, but the reality is that they are now an integral part of some people’s lives as wage cuts intensify as the wage growth is even lower than inflation.

“The squeeze on wages, especially for public sector workers, will only increase the number of people turning to payday loans who are already grappling with rising costs for fuel, food and utilities. transport.

“Anyone considering a payday loan – or any loan for that matter – should always be looking for the right information to make an informed borrowing decision. “

Households are under increasing pressure as inflation hit 2.9% last month, its highest rate in four years.

Public sector wage increases have been capped at one percent, which is well below recent levels of price increases.

Surprisingly, 43 percent of all respondents had taken out five or more payday loans in the past year alone.

And only six percent said there was “no chance” or that they were “not likely” to seek further short-term borrowing in the future.


We pay for your stories! Do you have a story for The Sun Online press team? Write to us at [email protected] or call 0207 782 4368.



Source link

QuickQuid Customers Receive Urgent Advice With Payday Loan Company “On The Brink Of Collapse”

0

QuickQuid customers are expected to maintain their repayments despite uncertainty over the future of the payday loan company, the government-backed Money and Pensions chief said.

Enova, the US owner of the UK’s largest payday lender, said Thursday evening he was withdrawing from the country after failing to reach an agreement with the UK financial ombudsman on how to handle a multitude of complaints from QuickQuid customers.

The Money and Pensions Service has warned customers of the payday loan company not to be tempted to stop repaying.

This could mean that their credit rating could be affected and that they could face additional fees and charges as well, he said.

Caroline Siarkiewicz, Acting Managing Director of the Money and Pensions Service, which is sponsored by the Department for Work and Pensions, said: “Many QuickQuid customers won’t know what this means to them.



Loans advertised in a window

“While you may be tempted to stop your repayments, sticking to your regular schedule is crucial because if you’ve entered into a loan agreement, you have to stick to it.

“If you miss repayments, you could be hit with additional fees and charges, and that could hurt your credit rating as well. “

Enova had been working for months to reach an agreement with authorities after customers filed more than 3,000 complaints against the company in the first six months of the year.

“We have worked with our UK regulator to agree a lasting solution to the high number of complaints to the UK Financial Ombudsman, which would allow us to continue providing access to credit to hard-working Britons,” said the managing director David Fisher on announcing that the company will be pulling out of the UK this quarter.

Enova will levy a one-time after-tax charge of approximately US $ 74 million (£ 58 million), which includes a cash charge of US $ 43 million (£ 33 million) to support the termination of its loans in the UK.

QuickQuid is the best known brand of CashEuroNet UK.

The convenience industry has faced squeeze since it faced tougher rules from the city’s regulator, the Financial Conduct Authority (FCA), to prevent people from being trapped in debt spirals , following an outcry from charities and consumer activists.

A cap was placed on the amounts that payday lenders are allowed to charge and they had to meet more stringent FCA standards in order to continue operating.

The Financial Ombudsman Service (FOS) received over 3,000 complaints relating to CashEuroNet UK between January and June 2019.

Some 3,165 new cases relating to CashEuroNet UK were received – and 59% of complaints handled during the period were upheld in favor of consumers.

Earlier Thursday, Sky News reported that auditor Grant Thornton had been lined up to take the company under administration.

Industry insiders say the industry must constantly change to meet expectations.

Meanwhile, lenders have been inundated with customer complaints, often encouraged by claims handling companies.

These claims were one of the main reasons rival Wonga was forced to shut down a year ago.


Video upload

Video unavailable

Claims handling companies themselves fear that the failure of QuickQuid could be damaging to consumers who have already faced an industry collapse.

It is not known how many jobs at the payday lender could be at risk if it disappears.

Enova did not say what would happen to its UK customers.

The company claims to have loaned to more than 1.4 million people in the country.


Video upload

Video unavailable

Tola Fisher, personal finance expert at Money.co.uk, said borrowers will likely still have to repay their loans.

Meanwhile, those who have filed complaints against the process could face delays.

“If you are currently seeking compensation from QuickQuid for a mis-sold loan and it goes bankrupt, you will have to wait until the directors have liquidated the company,” Ms. Fisher said.

“Unfortunately, you might find yourself at the end of a long line to get your money.”


Source link

CFPB removes some consumer protections for payday loans

0

Federal regulators have finalized a new rule for payday lenders that removes a key provision developed under the Obama administration. Under the revised rule, lenders will no longer have to verify that borrowers can repay their loans when due.

Consumer advocates say without this protection borrowers are often trapped and have to borrow over and over again, at interest rates of up to 400%.

The Consumer Financial Protection Bureau – a supervisory body created in the aftermath of the 2008-09 financial crisis – tried to curb the practices payday lenders, by drafting a rule that was finalized in 2017. The Trump administration has been working to relax the rule since it took control of the consumer office at the end of the year.

The payday loan industry has welcomed the overhaul.

“CFPB’s action will ensure that essential credit continues to flow to communities and consumers across the country, which is especially important in these unprecedented times,” said D. Lynn DeVault, President of Community Financial Services Association of America, an industry trade group. .

Consumer groups have lambasted the content of the new rule and its timeline during a pandemic that has left tens of millions of people out of work.

“There’s never a good time to authorize predatory loans with 400% interest rates, but it’s the worst possible time,” said Mike Calhoun, president of the Center for Responsible Lending. “The pain caused by the CFPB gutting the wage rule will be felt most by those who can least afford it, including communities of color who are disproportionately targeted by payday lenders.”

The revised rule leaves in place another Obama-era provision that is designed to limit the ability of payday lenders to make repeated attempts to debit borrowers’ bank accounts. This measure – which is currently suspended by court order – can help avoid costly overdraft fees.

Copyright 2021 NPR. To learn more, visit https://www.npr.org.


Source link

Why are there no payday loan companies in Ireland? TheJournal.fr

0

AT THIS TIME of the year, the financial pressure is increased on families.

Some take out loans from credit unions or banks, but some are forced to go to pawn shops.

In Ireland, anyone who charges more than 23% interest falls into this category.

While 23% seems high, in the US, UK and across Europe payday loan companies charge between 700% and 900% interest.

For one of the UK’s biggest companies, Wonga.com, their representative APR figure is a bit higher than that.

Last month, the UK announced that from January, payday loan companies will be subject to much stricter controls.

These controls cap the cost of loans at 0.8% per day and the cost of a loan at 100%. The city regulator says the new regulations will take about 700,000 people and make them ineligible for loans.

One in 20 families in the United States has taken out one of the loans, and the industry has gone to great lengths to ensure its survival.

Source: Last week tonight/Youtube

What about Ireland?

In Ireland there are no payday loan companies. Officially, the Central Bank says there is no policy against them, but the application process for any agency wishing to charge more than 23% is strict.

Sources within the industry claim that while the Central Bank will consider demand, there is no appetite within any branch of government or regulation to see high interest short-term loans coming in. Ireland.

However, there are currently no plans to regulate their arrival.

Read: Almost 60% of credit unions are under credit restrictions

Read: Why the new state investment bank will do little to help Irish SMEs


Source link

Loans – Coronavirus pandemic will keep indemnification risks high for secured loans | Zoom Fintech

0

Loans – Coronavirus pandemic to keep compensation risks high for secured loans

Indemnification risks on securitized loans in India will remain high over the next 12 months, no matter how efficient the lineup increases after the moratorium ends, according to rating firm Moody’s.

Weak financial conditions will continue to affect the ability of debtors to repay loans, which will keep the efficiency risks for asset-backed securities (ABS) high.

The moratorium on funds ended in August 2020. Collections in Indian rated ABS improved markedly in September and October, although they remain below pre-coronavirus levels, said Dipanshu Rustagi, deputy vice president and analyst at Moody’s.

At the same time, the delinquency fees for ABS of rated auto loans and micro, small and medium enterprises (MSMEs) have also increased, with some debtors unable to renew or maintain repayments amid the deep financial contraction.

“Given the weak financial positions, the risks of asset efficiency will remain high in this atmosphere and we expect that auto loan ABS and MSME loan ABS defaults will continue to expand over the years. Next 6 to 12 months, ”added Rustagi.

New authorities help measure and present transaction options will mitigate the threat. In November, the Indian authorities introduced a Rs 2.7 trillion tax assistance program, which can benefit debtors in the MSME sector.

Indian ABS rated by Moody’s benefit from non-amortizing cash reserves and additional deployment, which provide liquidity and buffer against losses, he added.

Meanwhile, in another report, Moody’s said phasing out coronavirus aid measures would help prevent an increase in non-performing loans (NPLs) for banks in ASEAN and India. Each zone faces an uneven restoration forward.

The gradual reduction in aid measures will give debtors time to regulate and banks to build up debt buffers. This in turn will reduce the risk of a sharp drop in the quality of banks’ assets, said Rebaca Tan, assistant vice president and analyst at Moody’s.

Still, dangers remain amid a possible patchy recovery in 2021 that is still weak in the face of setbacks, as well as any new wave of coronavirus infections.

loan moratoriums were the most common among the programs launched at the start of the pandemic to help debtors. They will be quickly removed from most international sites. Rather than loan moratoriums, regulators encourage banks to restructure loans by allowing lenders to classify these loans as performing.

This strategy will save many banks the time they need to deal with deteriorating asset quality. The decline in asset quality is likely to observe the financial slowdown, which can drive up unemployment and weigh on corporate profits, he added.

Dear reader,

Enterprise Normal has always strived to provide up-to-date information and commentary on developments that may be of interest to you and have broader political and financial implications for the nation and the world. Your encouragement and suggestions on how best to improve our offering only strengthened our determination and dedication to these beliefs. Even throughout these troublesome cases resulting from Covid-19, we remain committed to keeping you informed and up to date with credible information, authoritative opinions and incisive commentary on relevant current issues.

However, we have a request.

As we fight the financial impression of the pandemic, we need your help much more, so that we can continue to provide you with very high quality content. Our subscription model has received an encouraging response from many of you, who have subscribed to our online content. An additional subscription to our online content can only help us achieve the goals of providing you with even higher and more related content. We believe in free, honest and credible journalism. Your help through additional subscriptions can help us practice the journalism to which we are dedicated.

Support high quality journalism and subscribe to Normal Enterprise.

Digital editor


Source link

WKYT Scam Week | Online Payday Loans Look Legitimate, But Could Launder Money

0

Jamie Akers of Commonwealth Credit Union said that WKYT’s Miranda Combs online payday loan sites are attractive to many because people can get their money fast. “They get it online because they can get the money in 30 minutes,” she said.

The credit union has a training space, which is mainly used to teach staff to deal with scams. Akers said his goal was to stay ahead of the money thieves. “We’ve had many instances where this has happened. And we’re not talking about small amounts, $ 10,000, $ 20,000!” She said that online payday loan sites are fast, but often times they are bogus. “It may say a reputable name of a financial institution, but it really is a scam.”

Akers said it usually works like this: The payday loan site will ask you to fill out some paperwork and give your social security number. They then respond to you within 20 or 30 minutes and tell you you’ve been approved. Then they ask for your banking information. Akers said, people give it away. “So when they give it away, your whole account is wide open.”

And then, she said, they add another tantalizing twist to the scam. “They’ll email you and say, ‘Oh, would you like to improve your credit score? And of course, what are you going to say? Of course if I have bad credit I want it to go up. “She said,” Payday lenders who are crooks love mobile banking, where you capture a check with your phone and they immediately have access to your account. “

“It’s money laundering, it’s what it is,” Akers said.


Source link

What Types of Installment Loans Are Online?

0

Installment loans – The internet is a big and beautiful place with all kinds of great options that you can’t necessarily find in brick and mortar stores. That being said, there is a lot you can look at in terms of finances. How can you be sure that you are getting the resources that are right for you?

Installment loans are all over the internet, and there are many ways we can be sure we are getting our hands on what makes the most sense for what you want to do. But, which ones can you get online easily? Here is a look at some of the installment loans you can find on the web.

Vehicle loans

One of the most common installment loans online is the auto loan. Most often these end up being online installment loans with instant approval from direct lender, which makes them very easy to request and to disburse as soon as possible.

Vehicle loans are of all types; you can also get approved before you even find a vehicle, which means you have more flexibility in how much you can spend on a vehicle. Having this knowledge makes car purchases faster and less stressful for you and those you work with.

Mortgages

Mortgages are, in short, loans that you take out to buy a house. The amount of money you can get and the amount of interest you pay on that money can vary wildly. It all depends on your credit history (and your score), how much home you think you can afford, and what to expect from the home buying process.

It used to be a lot of work to compare mortgages – you had to go to multiple places to apply to get the rate you wanted. But, with online options, you can usually compare multiple mortgages and make sure you have a good idea of ​​what you’re going to want to use. And, because of that, you get the mortgage you want faster.

Payday loans

If you need emergency cash and / or have bad credit, a payday loan is an option you may want to consider. These are smaller installment loans, which you might hear referred to as a cash advance, depending on the company and what you do with the money you get.

Payday loans are all over the internet, so be sure to do your research and determine what you want from one. Also perform a business background check; this will ensure that you go with a business that you can trust.

Study loans

Student loans, including those for college and continuing education, are most commonly found on the web. Options like the FAFSA (Free Application for Student Financial Aid) and other such apps are all over the internet, making it easy to compare rates and figure out the details before going to. school.

This ease of access has made it easier for students to obtain the funding they need, regardless of their age or background. These requests are usually fairly straightforward to complete, and you can sort out everything about them without too much hassle.

Other personal loans

There is a lot of different types of personal loans the low. Generic personal loansWith debt consolidation, you are sure to find any type of loan that you want or need to get your hands on. And, with the help of the World Wide Web, you are sure to get it at an acceptable rate for your needs.

Also, be flexible about the types of loans you might consider. With so many types of personal loans available, you may be able to search for exactly what you need with the utmost precision. And that’s one of the things that makes the World Wide Web such a fantastic resource.

You always want to be sure that you do your research and try to find exactly what you want to get your hands on. More often than not, you’ll be able to sort out the details and know you’re getting the best deal for the type of loan you need. Find solutions on the web and you’ll be on your way to getting ahead of the game.

Other articles from totimes.camtltimes.caotttimes.ca


Source link

Wonga payday loan firm on the brink of collapse after surge in compensation claims

0

Payday loan giant Wonga is on the verge of collapse after a surge in compensation claims from people who borrowed at scam rates of up to 5,853% before the watchdog crackdown requires a huge reduction

  • Firm was once one of Britain’s fastest growing consumer finance companies
  • Three weeks ago he received an emergency injection of £ 10million to stay afloat
  • This triggered compensation claims from claims handling companies
  • Previous influx of claims after FCA introduced a cap on the cost of short-term credit
  • Wonga Appoints Professional Services Firm Grant Thornton as Director










Wonga is on the verge of collapse after an increase in customer compensation claims.

The payday loan company was once one of Britain’s fastest growing consumer finance companies.

He even had the ambition to be listed on the New York stock exchange which could have valued him at more than a billion dollars.

But the company is now on the rocks just three weeks after receiving an emergency £ 10million injection to stay afloat.

Wonga is on the verge of collapse after surge in customer compensation claims (Photo: Company TV commercial)

Wonga, launched in 2007, is chaired by former insurance boss Andy Haste

Wonga, launched in 2007, is chaired by former insurance boss Andy Haste

In 2014, the Financial Conduct Authority introduced a cap on the cost of short-term credit for consumers.

This sparked complaints from those who had borrowed from Wonga at astronomical annual interest rates of up to 5,853% before the new rules took effect.

A new influx of claims from claims handling companies – who help clients get compensation in exchange for reduced payment – was sparked after the release of the $ 10million injection. of pounds sterling.

Claimants can seek compensation if Wonga treated them irresponsibly – for example, by repeatedly granting them loans they clearly had difficulty repaying.

Wonga has hired professional services firm Grant Thornton to act as administrator if he is unable to circumvent the insolvency, Sky News report.

Company executives have reportedly been in talks with the Financial Conduct Authority to discuss its options.

Its administration process may be similar to that used by House of Fraser, which would involve a buyer acquiring some of Wonga’s operations.

Part of the company’s 500 employees could be preserved as part of this process.

Wonga reportedly hired professional services firm Grant Thornton to act as administrator if he was unable to circumvent the insolvency

Wonga reportedly hired professional services firm Grant Thornton to act as administrator if he was unable to circumvent the insolvency

Wonga previously raised his profile by sponsoring Newcastle United (players pictured with the company logo on their shirts)

Wonga previously raised his profile by sponsoring Newcastle United (players pictured with the company logo on their shirts)

Wonga, launched in 2007, is chaired by former insurance boss Andy Haste.

It is owned by big names in the venture capital industry including Balderton Capital, Accel Partners and 83North.

It was set up to set up a £ 2.6million compensation scheme in 2014 when it emerged that up to 45,000 clients received threat letters from a fake law firm made up by Wonga staff.

The company has previously strengthened its profile by sponsoring Newcastle United and continues to trade in countries such as South Africa and Spain.

Despite losing around £ 65million in 2016, it was aiming for a return to profitability in 2017.

It is not clear if this has been achieved as the figures have yet to be released.

The short-term loan controversy led the company to introduce a flexible loan product to improve its image.

The board had aimed for a return to profitability this year.

Record card madness of £ 11 billion

Credit card spending has hit an all-time high amid fears that households are living beyond their means.

Buyers spent £ 11.1 billion on plastic in July, the highest monthly figure recorded by industry body UK Finance.

His report showed Britons now owe £ 44.1 billion on credit cards from major banks, up 5.3% from a year ago.

The numbers also show we are saving less, with savings growth slowing to a record high of 1.2% last month.

James Daley, campaign group Fairer Finance, said: “There are households that are too indebted and cannot afford to pay it off. It is a concern.

Advertising


Source link