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Creditors cant pay quickquid payday loan debt

Published on July 6th, 2015 | by FinanceLoophole


Can’t Pay QuickQuid Payday Loan Debt

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Are you struggling to repay your QuickQuid payday loan on time or in full? if you are then don’t panic – you are not the only one who can’t pay Quickquid and there is help out there for you.

The first thing you need to do if you are having problems paying your QuickQuid payday loan  is to contact your lender as soon as possible when you know you cannot make the repayment schedule. QuickQuid customer support number is 0800 056 1515.

This should not only help to minimise any penalty charges or interest that may be imposed by your lender but will also prevent more debt building up. Under Office of Fair Trading (OFT) rules lenders are obliged to help you.

Yes OK But What Can I Do About My Quickquid Payday Loan?

You can go down the DIY route and do it yourself by writing to your payday lender yourself using the free templates we offer. If the payday loan company is calling you at your home, your workplace, on your mobile phone all hours – chasing you to pay them back, a simple template can put a stop to them. Fill in your details, then post it to QuickQuid to stop them causing you payday grief. The templates are designed to remind the payday lender of your rights, and let them know that you will not put up with bullying or unaffordable repayments. Also stop the continuous payment authority (CPA) or they could totally clear out your bank account.

If you owe more than a certain amount to the lender, you can use a debt management company. If you meet their criteria, they will be able deal directly with the lender directly for you – with your permission. Their expert knowledge of the law and your rights about your QuickQuid payday loan debt. They will contact QuickQuid and make it easier for you to pay back your payday loan debt with them. They will work with QuickQuid on your behalf to negotiate a repayment plan which works for you and won’t empty your bank account at the end of each month. Depending on your personal circumstances, they may be able to cut or even halt the high interest rates on your payday debt. A decent company will not only give expert help with payday loans, but will not charge any upfront fees. This link will take you to the best one I know that will be able to help you out properly.

More about QuickQuid Payday Loans

QuickQuid is a UK-based payday lender offering short-term payday loans up to £1000 for new customers and up to £1500 for existing customers with a hefty representative APR rate of 1270% APR. By way of an example of repayment costs – If the amount you borrowed was £1000 for 30 days. Your plan was for one total repayment of £1240.00 with interest amount of £240.00. Interest rate: 292% pa (fixed). QuickQuid also allow you to repay over 2 and 3 installments where you pay just the interest to date. Then the final installment includes interest and the amount borrowed. So if you got a £1000 loan over the 3 installment period you would pay back, 3 x £250 + £1000 = £1750. It clearly makes good financial sense to repay your loan as soon as you can as your debts will soon increase. The high interest rates are the primary cause why we see so many people who have QuickQuid loan debt which they are finding hard to cope with the repayments.

Eligibility requirements for a QuickQuid payday loan:

  • Valid UK Bank account
  • Employed and receive regular payments
  • Resident in the UK
  • At least 18 years of age

You should also know that QuickQuid will run a credit-application check on you when you apply for a payday loan from them, and this will leave a footprint on your credit report. It’s not too bad if you only have one or two of these on your record but continuous reliance on payday loans will have the result of greatly impacting your credit rating in the long term.

What Will Happen If I Cannot Pay My QuickQuid Payday Loan

Each time you miss a scheduled payment date for whatever reason they will charge you an additional £15 on top of any interest already owed and the amount for the initial loan. So it’s always best not miss any of the scheduled payment dates or the costs could soon mount up for you! They will also charge interest on any outstanding loan principle amounts.  We would not recommend missing your scheduled payment dates as this can make it more difficult and/or expensive for you to obtain future loans as QuickQuide will inform the credit reference agencies , and such missed payment is more than likely to adversely affect your credit report.

QuickQuid say that if you default on your loan agreement, they could  commence legal proceedings against you. You may be required to pay reasonable expenses for these legal proceedings along with any costs they incur in any legal proceedings or in attempting to enforce what they see as their rights against you under the loan agreement you have with them.

If you were a first time borrower with QuickQuid you may have borrowed up to the maximum allowable amount of £1000 so your debt repayments could be considerable. It may seem like an impossible task but there are things you can do to cut your payments and stop them pestering you for payments.

Who Are QuickQuid

QuickQuid is an “American payday giant” – part of the Enova International (Cash America or CashEuroNetUK) company, whose other trade names in the UK include, Pound to Pocket, Pound To Pocket FlexCredit and On Stride Financial. They also have other loan companies which operate in the US and Canada.

Making A Complaint About QuickQuid Services

Have you experienced any of the issues below from QuickQuid:

  • Sends you threatening or menacing letters.
  • You have been charged more than once for a missed payment.
  • They don’t help you get on top of your debt if you request help or “breathing space” to sort things out.
  • Make repeated attempts to debit your bank account – and charges you each time they fail.
  • Harassment with numerous phone calls and texts.
  • Deliberately try to put you off asking for help – like the ombudsman or a debt-advice/management service.
  • Speaks to anyone else except you about your debt – without your permission.
  • Doesn’t tell you about the Financial Ombudsman – they are required to do this by law.

If so then make a complaint.

In the first instance address your complaints directly to QuickQuid to give them an opportunity to put things right. Call QuickQuid complaints department on Freephone 0800 016 3114 (note 0800 numbers are now also free of charge on mobile phones) or email them at Keep a record of all correspondence about your complaint.

If QuickQuid is unable to resolve your complaint to your satisfaction by the close of business on the day following receipt of your complaint, then it should provide a prompt written acknowledgement that your complaint is being considered. Financial providers must deal with complaints within eight weeks. Their response to your complaint can be appealed if you are not satisfied with their response. You can do this by emailing your objections to .

Still Not Satisfied By QuickQuid’s Response To Your Complaint

Make a complaint to the Financial Ombudsman about your treatment by QuickQuid.

The Financial Ombudsman Service

Freephone 0800 023 4 567 (free on landline and mobiles) this si quickler than email

Or by post:

The Financial Ombudsman Service
Exchange Tower
London E14 9SR

More information

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Always do this if your bank or credit card provider is refusing to cancel a Continuous Payment Authority (CPA) you should also use the Ombudsman to complain as this is your right to cancel it.

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