Frank Field has tweeted:
Wonga's loan books are likely to be sold and, if the past record is any guide to the future, those loans will probably be sold at knockdown rates.
Within these loan books are likely to be some devoted exclusively to the exploitation of the poor.
Within these loan books are likely to be some devoted exclusively to the exploitation of the poor.
Money recovery agencies will no doubt attempt to buy these very cheaply and make a lot of money from them.
I've asked the administrators to remain open to a consortium of people of good will to buy the debts and deal properly with them, in a way which protects poorer people.
I've asked the administrators to remain open to a consortium of people of good will to buy the debts and deal properly with them, in a way which protects poorer people.
I've also asked the Archbishop of Canterbury whether he might begin to build up that consortium.
Might you please email me on fieldf@parliament.uk if you, or somebody you know, could be in a position to help?
Might you please email me on fieldf@parliament.uk if you, or somebody you know, could be in a position to help?
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