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Borrowers payday that is mis-sold by a loan provider which later on collapsed will receive lower than 6% regarding the settlement these are typically owed.

WageDay Advance went into management in February a year ago, after being inundated by claims.

Some 100,000 borrowers will receive 5.68% of their compensation entitlement, administrators say in a case that mirrors that of Wonga.

Some of those getting the re payment stated she had been frustrated although not astonished. Read More