Thousands of people who were mis-sold loans by defunct payday lender Wonga have until Monday to make a claim for a refund, before applications close for good.
The lender, which launched in 2006, collapsed last year after thousands of complaints over its controversial affordability checks saw it write off hundreds of millions of pounds.
Under the Financial Conduct Authority's guidelines, lenders have a responsibility to check the person's finances to make sure they can afford the debt they're applying for, before handing over any money.
However, Wonga's affordability checks drew widespread criticism. Whether it paid out or not was based on an algorithm, which meant many were offered loans they realistically would never be able to catch up with.
This meant thousands of people were mis-sold - and due both compensation and refunds as a result.
"Like with PPI, it transpired that many customers of Wonga were mis-sold their loans and as a consequence had grounds to claim compensation," consumer lawyer Dean Dunham explained.
And when the firm went bust, administrators at consultancy firm Grant Thornton took over this responsibility.
"Their job was to wind down the affairs of Wonga, including dealing with any claims," Dunham added.
But now, the deadline is looming - and consumers have until midnight on Monday 30 September to make a claim.
Why would I need to make a claim?
"There are many scenarios that would give rise to a claim for mis-selling but in the case of Wonga it appears that most claims have arisen due to the lender failing to either recognise or inform the consumer that they could not afford the loan," Dunham said.
"A clear example of this is when they loaned a sum of money that was greater than what the consumer earned and expected it to be paid back within a short period of time.
"This led many consumers to borrow more money to pay back the original loan, which also amounted to mis-selling."
How to file a Wonga claim
Ordinarily in these cases, you would make a claim direct to the lender. However, in the case of Wonga claims must be made to Grant Thornton.
They have set up a website for Wonga customers to lodge their claim here.
However, there are two factors to take into account:
You must act fast, as the deadline for lodging a claim is 30 September 2019
If they do pay out, you wont get the full amount of your claim as they are only paying a percentage.
Find out more in our guide on .
