A ticking time bomb

For some, Wonga.com draws up connotations of the archetypal Vinnie Jones-esque loan shark character donning a black leather jacket, greased back hair and a knuckle duster in their pocket. The crippling interest rate charges of 4214% APR (although, note that the loans are only to be held for a couple of weeks so APR becomes slightly misleading) have been the centre of a media frenzy on irresponsible lending and advertising campaigns. Yet, there is another twist to the story, one in which Wonga themselves are the victim.