Those who had been mis-sold loans by the payday lender Wonga have already been told that they can get simply 4.3percent regarding the payment these are generally owed.
Administrators have started informing around 400,000 claimants by page, a few of whom have actually reacted in dismay.
Before its collapse, Wonga had been vilified for the high-cost, short-term loans, viewed as focusing on the vulnerable.
Commenting regarding the financial obligation advice forum Debt Camel, one ex-customer called it an “utter disgrace”.
“Lives have now been ruined by these loans. We myself had to borrow from family and friends to produce repayments on time. Claim redress Ј3,455, I am getting Ј148.”
Wonga, which collapsed in 2018, had been after the British’s biggest payday loan provider but its methods attracted intense scrutiny.
In 2014, the Financial Conduct Authority (FCA) discovered it had lent cash to numerous who does never ever be able to repay, prompting a crackdown regarding the sector.