QuickQuid (QQ) and its smaller sister brand Pounds To Pocket (PTP) are getting a lot of payday loan affordability complaints from customers asking for refunds of interest. Summary You may be able to get a refund if you had loans from QQ or PTP you couldn't repay without borrowing again, including instalment and flexi loans. If you rolled a loan repeatedly or repaid the loan and the took out … [Read more...]
Getting out of debt
Practical articles about the different debt options, which might work for you and different ways of dealing with creditors
4 steps to take if you lose your job
A reader asks: Help! I have just been made redundant and I don't know how I am going manage, especially as we have debts. I'm only getting a few weeks redundancy pay. What should I do? Every week in 2018 seems to bring more news of shops and other businesses closing down. And it's not just the big names like House of Fraser and Carillion - when one firm shuts, its suppliers and small local … [Read more...]
QuickQuid is sending out some extra refunds
Have you been sent a Visa card loaded with money from QuickQuid, or its sister brand Pounds Till Payday? It's a nice surprise, but what is it for and how much tax was deducted? You need to know the amount of tax deducted because you may be able to claim this back from the tax man! The refund letters These cards have been sent out in August to some customers who previously had a refund from … [Read more...]
Someone has taken loans using your name – how to stop identity theft
A reader, Mrs J, asked: Since February my husband has started to receive letters from WageDay Advance, Satsuma and QuickQuid saying that he has loans with them that need repaying. He doesn’t have any loans. We have sent Prove It letters to all three. We have now had letters saying that WageDay Advance and QuickQuid have passed the account to debt collectors. In addition, he has now had a … [Read more...]
Vanquis ROP (3) – refunds are too low – it’s time to complain
Have you had an email from Vanquis saying it is refunding you some money? Some people are being given tens of pounds when I think they should get hundreds. And people getting hundreds should be getting thousands! There were no details of the refund in the email sent to you, so there is no way for you to check it is accurate. In February, the FCA told Vanquis to give refunds to a million … [Read more...]
When will my credit score improve after settling my IVA?
A reader who has settled his Individual Voluntary Arrangement (IVA) early asked: My IVA is still showing on my credit history. The start date was January 2014. I have been removed from the Insolvency Register. I have now [mid 2018] been told that I have to wait for another 18 months before the IVA will be removed. Is that right? I am sure you have heard it all before but none of this was in … [Read more...]
Mortgage repossession and your credit record
A reader, Mr D, asked: I had a mortgage shortfall from 2006 after my house was repossessed by Natwest. As a mortgage shortfall stays on file for 12 years, I decided to make a Full and Final settlement offer in January this year which they accepted and which has now been paid. Now with both Equifax and Experian, the account has disappeared, it doesn't appear in my open or closed accounts. … [Read more...]
Overtime & new baby costs – how do these affect an IVA?
A reader, Mr G, asked: I’ve had a lot of overtime recently covering for someone at work who was very ill. This has come in handy as it coincided with my wife’s maternity leave and the extra expense of a child. Will my IVA expect me to pay them the overtime money after my annual review in a couple of months? Overtime and IVAs As with many questions about Individual Voluntary … [Read more...]
Game, set and match – how to ace your debts!
Paying off debt can feel like a long war with your creditors - you may have a good few months and then some setbacks. But what if this battle was a game of tennis? Listening to the Wimbledon commentators gives clues about how the top players approach training and big matches ... Here are five ideas that can also be applied to clearing debt. 1) Improve your skills "She's been working … [Read more...]
Why do people lose payday loan refund cases at the Financial Ombudsman?
People often ask Do I have a good case for a payday loan refund? If you are wondering this, it can help to look at why some people have their complaints rejected by the Finanical Ombudsman as this shows which complaints may be tricky. You may then realise that your complaint probably won't be difficult at all! Read How to ask for a payday loan refund for template letters. It has comments … [Read more...]
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