Payday lender Wonga says it is writing off £220m of debts for 330,000 customers after putting in place new affordability checks. The company, which has faced criticism for its high interest rates and debt collection tactics, made the changes after discussions with regulators. Customers in arrears whose loans would not have been made under the new checks will have their debts written off. A further 45,000 customers in arrears will not have to pay interest on loans. Affected Wonga customers will be notified by 10 October. Wonga's chairman Andy Haste, who joined the company in July, said a review of lending practices had shown that the need for change at Wonga was ‘real and urgent’, and new stricter lending criteria would mean ‘accepting far fewer applications from new and existing customers’. (See also Prayer Alert 31-2013)