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How to ask QuickQuid for a payday loan refund (old article)

UPDATE – on 25 October, CasheEuroNet which owns ate QuickQuid, Pounds To Pocket and On Stride brands went into administration.

See QuickQuid goes into administration – what will happen for details. That article will be updated with any more news.

This article will not be kept up to date.

QuickQuid (QQ) and its smaller brand Pounds To Pocket (P2P), which in February 2019 rebranded as On Stride, have been getting large numbers of affordability complaints from customers asking for refunds of interest.

You may be able to get a refund if you had loans from QQ, P2P or On Stride you couldn’t repay without borrowing again. You can get refunds for all type of loans, including instalment and flexi loans.

Summary –  QuickQuid complaints

QuickQuid is now the most complained about banking and credit firm in Britain (ignoring PPI), according to Finanical Ombudsman statistics.

At the end of 2018, there were about 9,000 complaints against QQ and PTP with the Ombudsman. Many had been there for two years as QQ had been refusing to give refunds on loans over 6 years old or for loans given after 2015.

In 2019 the Ombudsman started upholding large numbers of these cases. QQ then rejected many of these decisions.

But in August 2019 QQ agreed to pay thousands of outstanding Ombudsman decisions within the next 6 weeks. These are being referred to as “the spreadsheet complaints” as many customers were told by FOS they “were on the spreadsheet“.

How to start a complaint (this no longer applies now QQ is in administration)

The main Payday loan refund article has the template letters to use for making these complaints.

If you had loans from both QuickQuid and Pounds to Pocket, you only need to make one complaint, covering both sets of loans.

If you rolled a loan repeatedly or repaid the loan and soon after took out another one, this suggests the loan was not affordable.

One loan complaints can be hard to win, but if your loan was large, as some of the loans from On Stride are, read Getting a refund for a large bad credit loan which has better template letters for your situation.

A list of your loans is usually enclosed with the response to your complaint.

Has your data been deleted?

This is a new problem. In mid-April 2019, QuickQuid seems to have deleted information about some loans over seven years old from their records. See Why is QuickQuid going to delete old customer data?

This won’t be a problem for you if you have the details of your loans, from your email records or from your bank statements. Here tell QuickQuid you can supply them with a list of your loans so they can consider your case. If they refuse to do this, send it straight to the Financial Ombudsman.

If you don’t have all your records, ask QuickQuid if that is their final response and then send the complaint to the Financial Ombudsman. You can complain not just that you were given unaffordable loans but that QuickQuid has not treated you fairly by deleting your loan data when it should have known from other customers complaints that you may have a good affordability complaint. Ask for compensation for this.

You may feel that without evidence your case is very weak. But you have an excellent case that QQ has treated you unfairly!

If you have closed your bank account, it can still be possible to get old statements but there may be a limit on how far back you can go. So try to do this as soon as possible – don’t wait for several months until the Financial Ombudsman asks you for them as that may mean there are another few months you can’t get.

QuickQuid’s standard response was designed to put you off

QQ uses a template letter to reply to you.

When you read what they have written, you may feel depressed and that you don’t have a good case. That is what QQ want you to believe! But in many cases the checks QQ did were far from adequate and the wording in their replies may mislead you.

Here are some bits from one recent QQ response (in italics) together with my comments on them.

We have assessed loans funded before FCA regulations were implemented using the “other credit commitment” (OCC) value taken from your credit report at the time of funding and used a reliable average for all remaining expenses.

From some published Ombudsman decisions, it seems that QQ hasn’t kept the details of many credit checks it did for loans before 2014, see this decision for example. You won’t win your case just because QQ can’t produce this information, but if you kept borrowing or rolling loans for months then you shouldn’t worry that QQ has some brilliant way of showing they did great checks.

In assessing loans funded after FCA regulations were implemented, we used validated expenses figures. We arrived at those figures by validating your declared expenses for various categories from your loan application against credit reference agency and Office of National Statistics data.

Here QQ usually has kept more records. But they were validating your expenses against some national averages. that may have been fine for the first few loans, but if you kept borrowing, QQ should have wondered if your real expenses were larger than their estimates. So they should have done extra checks on your later loans, not just kept repeating the same checks.

In assessing whether your loan(s) were affordable, we evaluated whether your total repayment across the loan term was sufficiently less than your total estimated disposable income across the loan term, after taking into account your expenses.

They were estimating your income and your expenses, without verifying them.

Also did you have had one of QQ’s “three month loans” where they only charged the interest for the first two months then the whole of the capital repayment plus another months interest in the third month? If you did, QQ assumed you would save up money in the first and second months. But the Ombudsman often doesn’t think this is fair, for example, here is one Ombudsman decision.

We further assessed affordability by viewing your account history for hardship. If we concluded that any of your prior loans were in hardship status, we evaluated whether any subsequent loans were issued without an adequate gap in time in between.

But QQ doesn’t seem to take account of whether you had to roll a loan, ask for a top-up or ask for extra time to repay a loan, even though that is also evidence that you were struggling.

we closely reviewed whether you took out multiple loans in short succession and whether there were negative changes in your individual circumstances such as a decrease in income and/or an increase in “other credit commitments” between said loans. We further analysed dependency by examining whether you had any loan(s) with numerous extensions or rollovers and if so, whether any subsequent loan was funded in close proximity thereafter.

QQ says they “closely review” these, but often they just seem to reject a case even if often you had to roll a loan or borrow again soon after repaying one.

You may feel this letter doesn’t actually reflect your situation at all – and you are probably right! QQ doesn’t explain why they have refused to refund some loans, or why they picked the ones they did.

For several years QQ didn’t add 8% statutory interest to goodwill refunds it offered. But inAugust 2018 sent an unexpected additional refund to some customers who had been affected by this.

QuickQuid cases at the Ombudsman (you can no longer send a QQ case to the ombudsman)

The Ombudsman service is easy to use but has been slow for QQ complaints, but in summer 2019 that seems to be improving as a large number of cases have been decided.

Three things not to worry about:

  1. you won’t “lose” an offer from QQ if you go to the Financial Ombudsman. So far as I am aware, in every case where someone was offered an amount by QQ the Ombudsman has increased the amount.
  2. the Ombudsman won’t reject your case because you had a large income or your partner kept bailing you out etc. Lots of people have won these cases. If you kept borrowing then QQ should have realised you were dependent on the loans and stopped lending.
  3. cases where there was a lot of repeat borrowing and gambling are getting good refunds.

How do they respond to the adjudicator’s decision?

The Adjudicator is the name for the first stage of an Ombudsman complaint. Only 10% of cases have to go to the second stage is when it is looked at by an Ombudsman.

QQ accept have been accepting some adjudicator decisions.  But sometimes they offer a lower amount, in which case you have to decide if it’s worth taking that or asking for the case to go to the Ombudsman.

In June one person has just reported being offered c £8,000 by QuickQuid when the adjudicator’s decisions would have been about £9,500 – he decided that was a good enough offer to accept.

Rejecting too many adjudicator decisions

But QQ has been rejecting far too many adjudicator decisions.

The ombudsman could take all these adjudicator decisions through to the second “Ombudsman-level” where a decision is legally binding and QQ have to payout. But that would take a lot of Ombudsman resource to get thousands of cases through at that level. It shouldn’t be needed. the Ombudsman-level is intended for the few difficult cases, not for run-of-the-mill standard decisions.

Both the Ombudsman and QQ’s regulator, the FCA, have been pointing out that the FCA’s rules say a lender has to learn from ombudsman decisions and apply them.

This is why in August QuickQuid agreed to accept several thousand adjudicator decision it had previously rejected.

QQ started to send emails with the refund amounts and asking for people’s bank account details in September.

Good news that QQ is paying out on some FOS decisions but…

I’m very pleased QQ agreed to pay out on these decisions. Not just for those customers getting their refund at long last, but because by removing a large number of complaints from the queue for an ombudsman, I hope a lot of other FOS complaints will move forward faster.

QQ’s American parent, Enova, released its second-quarter earnings figures last month. Overall they were fine, but there were some comments in the Earnings Conference Call about Enova needing to reach a satisfactory resolution with the FCA and FOS about complaints. It’s not clear what they mean by this.

Enova’s third-quarter figures contained the announcement that they would be closing their UK business due to “regulatory uncertainty”.

Updated October 2019
Comments on this article are now closed. Please put any questions on
QuickQuid goes into administration – what will happen

Comments

  1. Mr and Mrs C says

    Grrrr – even though we confirmed our bank details by email on 14.10.19 – QQ have it in their system as 16.10.19 and therefore we have to wait the 28 days from there. We accepted the offer 12.09.19! They really are delaying things as much as possible aren’t they??

  2. calm 1 says

    Aha! An update folks….so, had a call from my adjudicator today. QQ have finally accepted the adjudicator’s decision and an offer is imminent which could either be sent to me directly or the FOS.

    So almost 2 months after a response was expected, I get one! I do hope this next stage is much quicker…

    Is it quicker lol – anyone?

      • Sarah H says

        Hi my agreement was made via the adjudicator on 24th September and im still waiting. Well done on getting your payment must have been a relief. Sarah H

      • Calm 1 says

        Good 2 hear Emma – apparently you weren’t the only one either…a few got paid out with days so who knows what the system is!

        Did you get your offer separately to agreement with adjudicator or at the same time Emma?

        • Emma says

          I got the offer from the adjudicator x there are others that were told QQ would email them directly though. Not sure how long that takes. Was pleasantly surprised to get money so quickly (£6000) x can pay off remaining debts and have a nice Xmas x fingers crossed they don’t take too long with yours x

  3. Matt says

    Hello I applied with resolver for both pp and quick quid on the 28/8

    Accepted £6219 offer on the 22/10 got paid out on the 23/10 in lots of individual transactions

  4. Mark Lindsay says

    I would just like to say a massive thank you to this site.

    I stumbled across it from a Wonga refund I was doing after they emailed me, and on Sep 10th I started my mail off to Quickquid and then went through my files to work out a figure, I worked out I was owed about £3800. It took them about a week to come back with the stock reply, which I then replied I would like them to carry on with the complaint and to give me all the details of each loan so that If I want to take it further than QQ I had the information. They replied with an offer of £3500, which I accepted on the 10th of October.

    1 month from the start of it, to the acceptance, and they paid it back in full on the 17th of October.

    So once again a massive thank you, Christmas will be a whole lot better for my family and our Autistic son now as we can get them all something really nice :) My advice to anyone readying this post and threads, keep at it, get what you deserve and hopefully it will be as quick for you all from now on as it was for me.

  5. John says

    So I got email from adjudicator on the 30th of September to say quickquid have agreed to settle full amount £3,000 and that they would be in touch to confirm details.

    Recieved a email on the 8th of October from them asking me to confirm details still the same which I replied yes within 30 minutes.

    Not heard back from them since….I have such bad luck part of me thinks I will never get it…probs go bankrupt with me being next person to be paid.

    Any advise on when i should expect it and if it’s worth calling or does this make it worse…as seems from reading people that complain wait longer?

    • Sarah H says

      Hi I have rang the Ombudsman today and they said they will send an email to give them a gentle reminder that I haven’t received anything. So see if that helps. Sarah H

  6. Letty says

    Hi everyone – wonder if you have any thoughts given all of your experiences. I complained 8 weeks ago to CashEuronet for loans from QQ and P2P. Got an offer today of £3752, meaning they have upheld 3 and rejected 5 loans for redress. I calculate that if all 8 were upheld, the redress would be just over £5000. Should I accept it, in the interests of just getting it done quickly, or go for the FOS? My inclination is to accept, as I really don’t want to get into a long process if I can help it.
    Thanks for any thoughts. Letty

    • Myles says

      Hi Letty,

      I think I’d accept it too if I was in your position as my case has been with FOS for over a year and it’s still in the queue for the ombudsman but it depends it you’re willing to wait the extra time for a potential extra £1248.

      • Stacey says

        Some people were made offers back in aug/Sept they were on a spreadsheet, like a bulk offer. Letters were sent to them

    • Sara (Debt Camel) says

      Three thoughts.

      First it’s unusual for someone to get a refund on all of their loans. So unless the first few loans were rolled a lot or were very large you may not get a refund on those so you won’t get the maximum from taking the case to FOS. If you say some more about the 5 loans that have been rejected it may be possible to make a better guess.

      Second the £3752 includes 8% statutory interest but your guess at £5k doesn’t. So that suggests the max you could get from FOS is more than 5k (though you aren’t likely to get the max as point one says).

      Three it’s a very personal decision whether you feel what you have been offered is “adequate compensation” for your loans. You don’t have to hold out for the max possible if you think that is a fair offer given quickly.

      But as to your question on timescales, I’m sorry but it’s not possible to say much. Other people’s very long drawn out cases will hopefully be a thing of the past, but there are no guarantees.

    • Letty says

      Thanks very much all, and Sara especially for the info. My estimate of 5k redress is made on the same basis as their offer, so it includes 8% and 20% retained for HMRC. So I think on that basis, hearing what you’ve all said, any final amount via the FOS may not be as much as that. The loans that they’ve upheld are the bigger ones, and they are ones that were rolled over. All in all, it’s money I never thought I’d see again, so I think I’ll accept.
      Thanks everyone, good luck!!!
      Letty
      ps- Just to others’ info, I”m still waiting to hear from 118Money, got a rejection for one loan from Avant, which I won’t pursue. The Wonga Administrators calculated my redress offer at £4700, so I guess I’ll get around 10% of that.

      • Sara (Debt Camel) says

        I think that sounds like a sensible decision.

        If the Avant loan was large (£1000 plus) it’s worth taking to FOS as those one loan cases be won. A small payday loan doesn’t have to be looked at in detail if it’s the first one, but a large long term loan should be checked more carefully.

        10% is on the optimistic side for Wonga, but let’s hope…

      • MMC says

        Don’t give up on Avant for 1 loan. I only had one loan and complained which was rejected. Rang and confirmed that was their final response before ombudsman to which lady said she would reply formally. Couple of days later and email received showing interest of £480 of £1100 loan to be refunded!!! Couple of emails and phone calls so keep trying!!

  7. MR says

    Wish there was a guarantee or something, that if QQ have agreed to pay you X amount, whether that’s directly with you or via an adjudicator etc that it will definitely be paid. I understand that they are swamped with complaints but they seem to have no order in how the complaints are dealt with, meaning many people are waiting weeks, from accepting, to providing bank details and then to finally be paid. It is constantly on my mind since the offer has been made and the unsurety is difficult. Peace of mind would be great.

    • John says

      I know what you mean. When it was with fos I didnt really think about it as I was unsure if I would be able to get anything.

      When I recieved a email saying that I was owed 2000 it now feels like it’s my money just sitting there in someone else’s hands and that they might not give it to me

    • Chantal Smith says

      It seems that they don’t really know what they are doing at QQ as why should some customers have to wait months and others have it in a few days? It should be the same rule for everyone, plus I think that my offer is wrong too so do double check them to make sure they are not trying to shaft you and if your case went to the FOS ask them to review the offer before accepting. For example I’ve paid interest of over 1000k to them through 2 loans that the FOS recommended they should refund me, plus the 8% per year and they have offered me 75 quid. Something doesn’t tie up there does it?

  8. Emma says

    So sick of this before I knew about this I went through a pay day firm who closed my case jan 19 reason didn’t think they would win!!! Email from FOS explaining that they could start case up again yes was my answer. QQ now saying that they can’t find account luckily I have email proof. So suck of this nearly two years now

    • Chantal Smith says

      My case also started 2 years ago and I’ve only just received an offer in September and it maybe wrong, so I’ve might have to throw it back at them and wait even longer. It’s so frustrating isn’t it with how slow they have been?

      • Emma says

        Absolutely what is annoying is that the loan was accepted by qq all those months ago. I’ve put a complaint in against the refund company, but they have disappeared hopefully not with my money by some of the reviews I’ve read

  9. Lee says

    First complained in April 2019
    Quick quid replied within 8 weeks with a poor offer of £300.
    I declined and finally got an adjudicator in August,
    They found in my favour on all loans apart from first 3.
    Took QQ a bit to get back.
    Accepted by QQ this week.
    They Asked for bank details last night.
    I supplied and got an email back saying could take up to 28 days.
    All loans over 6 years. Around 3k for me

  10. Ryan Herbert says

    Do qq have 8 weeks to respond again after being sent a decision by the adjudicator, they told me they have even though the adjudicator gave them a dead line? Any help

    • Rach says

      I was told by my adjudicator I was in a pile of cases that they were trying to get upheld by Quickquid, as they had until the 18/09/2019 to respond. I’ve heard back from my adjudicator today to say that QQ agree with her findings, so that’s been just over 5 weeks. How long it will take them to reply with the offer, confirming bank details and actually putting money into my account is anyone’s guess think I’ll be lucky if I see the money before New Years

      • Ryan Herbert says

        Unbelievable how long they take, I respect they have a lot of cases but the fact they don’t even respond to ask for more time is terrible. Good luck to you

      • Ryan Herbert says

        To add my claim was upheld by the adjudicator on the 6th of September, they gave qq until the 20th September to respond and nothing since.

  11. jacob says

    Hi all,

    Could I ask if there is anyone who has received a decision from the ombudsman recently? If so how long did you wait from it going in to the ombudsman queue to hear?

    Cheers

    • Sarah H says

      Hi yeah i accepted on the 24th September and was told i would receive payment by 23rd October and im still waiting thanks Sarah H

      • Jacob says

        Hi Sarah,

        Do you mean the ombudsman made their decision on 24 September? (after previously being looked at by an adjudicator) If so when was it placed in the queue for an ombudsman to look at?

        I’ve already had an adjudicator decision back in April and it was then put in the ombudsman queue in July.

        • Sarah H says

          Hi i first complained November 2018 the adjudicator at the Ombudsman picked it up July 2019 cashnurnet(pounds to pocket agreed with the adjudicator 4th September however the offer that pounds to pocket offered the adjudicator disagreed and asked them to relook at. The adjudicator went on holiday 29 August and came back 4th September. They got back to me with a decision 24th September i accepted. The adjudicator let cashnurnet know i accepted 25th September. Then told me that they should expect them to contact me in the next couple of weeks to get bank details and hopefully pay out for 23rd October. I rang yesterday and the Ombudsman said they will send a email to remind them. Im still waiting. Thanks Sarah H

  12. Chantal Smith says

    Hi,

    Mine was approximately an 18 months wait for an assessment to be carried out. I think the reason for the long delay was because my loans were over 6 years old, however I had been told I could still make a claim.

    • Jacob says

      Hi Chantal,

      Similar situation to me by the sounds of it. I sent mine to the FOS in August 2017. It was put on hold due to QQ objecting the 6+ year rule. Eventually got an adjudicator decision in April 2019 and then it was placed in the ombudsman queue in July as QQ still objected (stating due to my job role I should have known I could complaint). So over 3 months in the ombudsman queue and I’m still waiting.

      When you say 18 months is that from the start of your process or that it has been in the ombudsman queue? Has your decision been an adjudicator decision or ombudsman? If it was an ombudsman how long did you wait for a decision from them?

      Sorry about all the questions I am going to progress chase my complaint soon and just want an idea what other peoples experiences have been. Thanks

      • Chantal Smith says

        Hi no worries for all the questions. So yes, 18 months since the FOS had it. Initially QQ rejected the adjudicators decision and it was waiting a ombudsman review, however in the meantime they said Quick Quid accepted their assessment and would contact me shortly with the offer. When I received the offer it doesn’t look right so I have sent it to the ombudsman to check it. I have a feeling they have sent me the offer that I initially rejected and not the new one they are meant to have sent to me. But we will see what the adjudicator says when they come back to me. With all the numbers of complaints it’s gonna be a while before I get anywhere with it I think.

  13. C S says

    Anyone had their adjudicator decision accepted? Just want to know how long I can expect to wait for an offer from QuickQuid? They accepted the adjudicators recommendations on 15/10/2019.

    • Mr and Mrs C says

      We waited 32 days from FOS telling us its been accepted to QQ finally emaily to ask for the bank details to pay us – still not been paid at 45 days. Lots of people are getting payment quicker, it just seems to be a lottery.

      • Dan says

        Please see Sky News.

        Looks like you might not be getting paid at all now.

        Feel so sorry for you.

  15. Dan says

    Got some bad news

    Sky have just reported QuickQuid will be going into administration within days.

    Looks like we wont get what we are due and will take years to get back pennies in the pound.

    Such a bad situation for many.

    Glad mine was paid out Tuesday.

  16. Lauren says

    Just had a Sky News notification time say Quick Quid on the brink of collapse so fingers crossed if they e made a decision in your favour, they pay out. Can’t see them agreeing to any more claims though, it will be another Wonga I suspect, getting a very small portion of what they agree they owe ☹️

    • DB says

      Looks like thats why they were drip feeding payouts, was on purpose as they were going under anyway.!! Just got an offer after 15 months of battling with them aswell. Probably be worth pennies now.

      Not been a great few weeks, Thomas Cook for my holiday and now QQ for my reclaim!! Lol.

  17. Myles says

    I’m so frustrated right now, a year of waiting and now it looks like they’re going to go under just to avoid paying when their parent company is doing just fine. Absolute scam artists.

    • Ste says

      I can’t believe this. I was on the spreadsheet and should have been paid out weeks ago. Should
      Never have counted on this money!

  18. Jacob says

    Unbelievable news on sky. Over 2 years ago I submitted my complaint. Devastated is an understatement. Are the parent company not liable to pay out? I had low offer from qq when I first complained. Would I be able to accept that now?

    • Kirsty says

      I am devastated. Been waiting over 40 days, chased up everyday and still nothing and doesn’t look like I’ll get anything at all.
      Bye £2000 I didn’t want you anyway 😭😭
      So upset.
      I emailed my adjudicator straightaway and he said they haven’t gone into administration yet but they will be in touch with what to do next when they receive an update.
      Lost cause :(

  20. Richard says

    I just saw on Sky News as well, I’m lucky I finally got my refund about 3 weeks ago….

    thing is they’re sly, they didn’t bother emailing me the tax certificate. They told me on the phone the tax certificate comes in the post and can take 30-45 days, can anybody confirm this?

  21. Jeff says

    I accepted an offer at the start of October 2019…anyone have any idea if that offer will be paid in full or will the possible administration affect the amount that i’ll end up getting?

    Rang FOS – they said ring QQ….rang QQ and they said the FOS complaints department are not operating until Monday…cannot get anyone on the 02038592760 number.

  22. ClaireR says

    I had emails yesterday confirming bank details and stating the payment was processing.
    Completely gutted as this refund would have made me debt free.

    • E says

      Try not to worry just yet – I had my refund a couple days after confirming bank details so hopefully you’ll get yours before they collapse x

    • ClaireR says

      This was email I had yesterday

      Thank you for your email and confirming your banking details for the refund portion of the settlement. Please allow us time to action the redress. We will then contact you directly in a separate correspondence with the closing details to the settlement.

  23. Rel says

    This cannot be happening, especially as the parent company is in rude health….. I was owed over £5k by Wonga and will be lucky to see 5% of that, and have only last week been told by FOS that QQ agree to their findings and will offer to refund in line with their findings (£7k!!!) Money which I am owed and have been relying on arriving, but QQ haven’t confirmed acceptance or bank details yet…. surely there has to be some help for us?

    • Mr and Mrs C says

      Right there with you, lost out to Wonga by 1 day – was owed 2k and they went into administration the day after I accepted the offer, and QQ have agreed 9k settlement accepted on 12.09.18, bank details confirmed 16.10.19 – feel physically sick

  24. Sarah H says

    Hi my adjudicator emailed me just before this announcement asking if they had been in touch. I replied saying no and im yet to hear back from him. Its frustrating because I know the amount I am meant to be paid and it was meant to be yesterday. So sorry for everyone :( Sarah H

  25. Turtle says

    if you have an adjudicator with the FOS, get in contact with them now I suggest. I had my payment as little as 2 days ago.

    Not sure if it’s too late for others but I chased and chased this crowd daily. The email address I sent to and had a reply from eventually was foscomplaints@enovahelp.zendesk.com

    The telephone in the sig is 0203 859 2760 but this did die out when I tried calling previously so I presume it’s the same now

    • Sarah H says

      My Ombudsman emailed asking if cashnurnet had been in touch just before this announcement. I emailed back this was 3:05pm and im still waiting for a reply :( they had till the 23rd October to pay out the redress. Im panicking now that I won’t get a penny. I feel so sorry for everyone :(

    • M says

      Just rang QQ FOS complaints team are not open until Monday. Nice time to have a couple of day’s off.

      • Fook being calm says

        Don’t think that was any co-incidence!

        Fook fook fook… that’s all I can say.

        So much for waiting for an offer.

        The bar stewards!

        Thousands lost went wonga went down, and it’s going to happen all again.

        Gutted

  27. N says

    So sorry to all those who are awaiting a refund. It is horrible news I really do hope some more people get some refunds before they go under.

    • C S says

      I am owed around 6 to 7k but I will take some comfort in knowing that if they go under they can’t do any harm to anyone’s finances

    • Mr and Mrs C says

      Should take out a loan for the amount they are going to not pay us!

      Completely unethical I know

  28. Sara (Debt Camel) says

    hi Guys,

    at the moment I know the same as you all do.

    QuickQuid’s US parent is reporting its results this evening after the US market closes. So by tomorrow morning there may well be more definite news.

    When I hear more I will post more.

    • Jeff says

      Thanks Sara.

      Any idea how it may play out if you have already accepted an offer but are still awaiting payment? Would the payment amount agreed be honored? Or would it go full wonga?!

      I made a claim against wong after they went into admin so will only get a percentage…but with QQ i accepted/provided bank details a few weeks ago…

      • Sara (Debt Camel) says

        We don’t yet know it is going under. Until there is a formal announcement, we don’t know what form the insolvency will take.

        I’m sorry, but there are different sorts of company insolvency and it isn’t going to help by making a guess about what might be going to happen.

    • Myles says

      Thanks Sara. I’m assuming they’ll just go under to avoid paying any more. The only highlight I can see is that it’ll hopefully free up FOS processing times as all of the QQ complaints will be taken off their hands.

  29. Lesley-Anne says

    “Piss up in a brewery” comes to mind.

    I’ve just got off the phone to the 0800 016 3114 number after 20 min hold. M

    The woman I spoke with could not have been kinder. She DIDN’T know they were going into administration!!

    She said my case was in a queue to be refunded and that refunds were being issued daily. I accepted my offer on 2nd October so 28 days up next week.

    I cannot believe this is happening when so many of us are so close to the end.

    Fingers crossed for everyone x

  30. Chele says

    I hope all waiting get their payout in light of today’s news – I was paid out a a week or so ago, but it did come from Enova, do fingers crossed they still honour payments.

  31. Gemma says

    Hi. In the same boat as a lot of you guys. Agreed a figure through the adjudicator, confirmed bank details and waiting for the payment. Seeing the news today I emailed qq and explained my concerns…I got the following response:
    Thank you for your email response. Please be advised that we are conducting business as usual and will be handling all redresses we have received in an orderly fashioned. At this time, you can expect to receive your redress within 28 days.

    Should you not receive the redress within 28 days, please email foscomplaints@enova.com or contact your financial adjudicator.

    • Rel says

      Hi Gemma

      What was the email address you used to contact QQ today and got a response from?

      I have had my complaint upheld by FOS, and QQ accepted their findings and agreed to repay the interest on the accepted loans, stating they would contact me directly (last week) , still waiting for this contact to accept offer… so I will contact them on this address that you have had a reply from!

      Many thanks for your help!

      • Gemma says

        Hi. I’m exactly the same, was told they would make contact with me but not wanting to rely on them doing that, I started the ball rolling by emailing them first and opening up dialogue.
        I emailed complaint@quickquid.co.uk I hope that you get some resolve. It did them two days to Reply to my initial email. Good luck.

  32. Chris says

    I am in a DMP with a balance of about £21000. Moneyshop, Wonga, Wageday Advance are amongst my creditors. The last two should have given me redress calculated at about £7000. Moneyshop – still to calculate. I might get £200 back. I have a ruling from the Adjudicator about QQ. I calculate that this amounts to £18000 including the interest. QQ, however, objected to the ruling in July and it has been stuck at the FOS ever since. This news couldn’t have come at a worse time. If I had got back the money which I should have done, the DMP would be over.

    I entered the DMP in the belief that I should honour my debts and pay what I owe. I have paid £43000 back so far and have been in the DMP for 10 years. I now wish I had opted for bankruptcy right at the start. I am so upset I can’t see the point in carrying on.

  33. Deb says

    Just seen the news on QQ! I have two weeks till the 8 weeks is up for them to deal with my claim before I can send to FOS. I’m now thinking I won’t get anything back at all :( what happens with debt that are with debt agencies for QQ do you still need to pay them or do they just get written off ?? I owe £500 on loans from 2015 still to a debt agency for QQ loans.

    • Sara (Debt Camel) says

      Have the loans been sold to the debt collector? Or are they being collected on behalf of QQ?

        • Sara (Debt Camel) says

          it may make a difference. If the DCA is reporting the debt on your credit record, it has been sold.

          • Deb says

            I’ve had a look at my credit file and it says I was in DF in April 2014 and then SF in the May 2014 and no other reporting to do with this on my file …little confused would it be worth ringing Lantern if they do go under to find out if they were sold the loan or whether they were collecting on behalf of QQ?

          • Sara (Debt Camel) says

            if Lantern are reporting it, it was sold to them. Have you told Lantern you are disputing the debt with QQ?

  34. Danielle says

    I’m so devastated by the news that casheuronet may be going under. My adjudicator made a decision beginning of September but messed up and missed out the onstride loans and ignored me for over 4 weeks and is now looking at it again. I would have got my refund by now if it wasnt for him messing up. That money would have gone a long way to paying off my other debts and now it looks like I’ll get nothing when i had multiple loans with p2p, qq and onstride

    • Calm 1 says

      Seems unfair that QQ can just bust itself and get an out of jail card!

      Has anybody spoken with FOS since this news broke?

      Wonder what their take is… gutted for all including myself.. was expecting 8k plus

      • Myles says

        I emailed my adjudicator earlier this afternoon and tried calling but he didn’t pick up. I might call the main line tonight but I find that they don’t always give out the right information and over promise to try and make you feel better.. It’s important to remember that they haven’t actually gone under yet so there’s still hope. It’s not over until it’s over I guess!

        • Sara (Debt Camel) says

          There is no official announcement yet. QuickQuid’s website is still up for new loans.

          In this situation, FOS isn’t going to speculate. And they may only know what the Sky article said anyway…

      • Danielle says

        I spoke to them and they just said they have heard the news but they have not been told to stop investigating as yet. The girl on the phone was lovely and I understand that they dont know much more than us but shes still going to get a manager to call me back as the adjudicator in my case has caused it to go on so long and ignored most of my correspondence and questions. It’s just so frustrating. I really was on course to be debt free by xmas and now that’s looking unlikely

      • Sarah H says

        Hi ive just spoken to the adjudicator and she said that they are continuing as normal. I was meant to be paid yesterday and now the Ombudsman has given cashnurnet until 7th November. :( Sarah H

  36. Jacob says

    I see the website is still open and advertising loans. Has anybody contacted them as a ‘customer’ to see if they are still issuing loans?

  37. Emma says

    Absolutely gutted if the news is true if it wasnt for my refund company shutting down my case then I would have had my case nearly closed now. I probably wont get a single penny now

  38. Joachim Prill says

    I send a letter of complaint to QQ about a week ago just got an automated Response with an ID Number but after reading all this other Letters I think I am to late .

    • Sara (Debt Camel) says

      if QQ is going into administration, your complaint will be assessed by the Administrators. that’s the good news – the bad news is that you may only get back a small amount of the refund calculated.

  40. JD says

    Here’s a thought – if they go under will there be any mechanism for the existing complaints to have the loans removed from the credit file? Did that happen with Wonga?

      • JD says

        Thanks Sara – they found in my favour, QQ never responded so it was being prepped for the Ombudsman queue. Gutted I won’t get the 5k owed but I was always more interested in the credit file markers being removed. So all’s not lost!

  41. Ash says

    Absolutely gutted. I tried calling Qq fos team 3 times, it rang and rang then cut me off, emailed too. I’m going to listen to the enova results later today as well. I accepted my offer via adjudicator 2 weeks ago, 9k. I’m so upset

  42. S says

    What will happen to people on the spreadsheet who have had offers and waited the 28 days.
    Are we now just going to have to wait for the administrators to come in and get a measly 5p in the pound offer in another 2 years!!!!

    • Sara (Debt Camel) says

      Unless you are paid before the administration starts, this could be a long haul to a poor end result.

  43. Rel says

    Enova have released details of their Q3 results, and state that they have decided to “exit UK market in Q4”

    “Enova anticipates it will record a one-time after-tax charge of approximately $74 million, including one-time cash charges of approximately $43 million to support cessation of U.K. lending activities.”

    I wonder (hope) if this means it will honour existing Redress claims?

  44. Chantal Smith says

    Well I have not long come off the phone from them and was told my refund went in to my account on the 12th October. But it was paid in to my old account which is closed and they now need to trace the money. Despite me confirming the correct banking details for me now and the lady on the phone even confirmed yes, we have those on your on stride profile so the refund will be done to those details. I’m at a loss now as to what to do, because they are not going to do any refunds once they collapse. I am so so angry, especially as my case started 2 years ago now and people are getting paid out and have hardly had to wait at all and now I might not get a penny :-(

  45. Stephen says

    Will the people on the spreadsheet who have had an offer and confirmed banked details still get paid or have to wait for administrators!?

  46. Chris says

    Thanks again to the FOS for ruining yet another claim with their utter incompetence! £4k down the toilet 2 years and still no ombudsman decision!

    • Chris says

      Reluctantly, I agree. No beef against the guys who individually work there but the sheer length of time taken hurts the very people they are supposed to protect. I have a few claims in with them at the moment but have lost faith in them and now expect nothing. Meanwhile, having already paid thousands to these lenders, I am still left with thousands to pay.

  47. Gemma says

    Enova also announced today it intends to exit the U.K. market in Q4. Enova anticipates it will record a one- time after-tax charge of approximately $74 million, including one-time cash charges of approximately $43 million to support cessation of U.K. lending activities.
    “Over the past several months, we worked with our U.K. regulator to agree upon a sustainable solution to the elevated complaints to the U.K. Financial Ombudsman, which would enable us to continue providing access to credit for hardworking Britons,” said Fisher. “While we are disappointed that we could not ultimately find a path forward, the decision to exit the U.K. market is the right one for Enova and our shareholders. Looking ahead, we believe that our diversified product offerings provide meaningful growth as we allocate our resources where we see the greatest opportunities.”

    Just pulled this off the Enova website?Are you able to elaborate Sara? Thanks Gemma

  48. SK says

    https://www.prnewswire.com/news-releases/enova-reports-third-quarter-2019-results-300945161.html

    Good news or bad news?

    “Enova also announced today it intends to exit the U.K. market in Q4. Enova anticipates it will record a one-time after-tax charge of approximately $74 million, including one-time cash charges of approximately $43 million to support cessation of U.K. lending activities.”

    I think the following comment is disgusting… Basically they will carry on with their dodgy businness where they will not get slapped on the wrist by nasty regulators!

    “Over the past several months, we worked with our U.K. regulator to agree upon a sustainable solution to the elevated complaints to the U.K. Financial Ombudsman, which would enable us to continue providing access to credit for hardworking Britons,” said Fisher. “While we are disappointed that we could not ultimately find a path forward, the decision to exit the U.K. market is the right one for Enova and our shareholders. Looking ahead, we believe that our diversified product offerings provide meaningful growth as we allocate our resources where we see the greatest opportunities.”

      • Chris says

        Follows the pattern earlier in the year with the Moneyshop. Owned by an American hedge fund and that is where that ended up.

        • Sara (Debt Camel) says

          That had an unusual situation where a previous parent had already agreed to provide some money to Instant Cash Loans over a period. I don’t know of any reason why a Scheme would be more attractive in the case of CashEuroNet. But until there is a statement on the form of insolvency, this is just speculation.

  50. MR says

    Enova Basically branched out to the U.K. ignored rules and regulations, targeted and exploited vulnerable people, made millions by doing so and then just leave because of the interest of their share holders. What about the interests of the people that they have already agreed they irresponsibly lent to and took advantage of. And the 1000’s of others.
    I hope something is arranged.

  51. C S says

    That does say they are going to put money into casheuro net to help them leave the UK market. Correct me if I have misread this but that sounds optimistic.

    • Sara (Debt Camel) says

      I think that may just be the US parent writing off assets, not handing over new cash. We will have to wait for the Administrators proposals to have any idea about the money that could be available for refunds.

      I will also point out that the Wonga administrators have assessed the value of valid claims at over £460million… The scale of the mis-selling of payday loans in Britain has been massive.

  52. Ash says

    Surely if enova are still growing and profitable they shouldn’t be allowed to just leave the U.K. market and enter administration. If they have cash they should honour the refunds and the money can’t go straight in shareholders fat pockets!

  53. Energy says

    Crazy!

    Sara has a quote in the BBC piece…

    My 8 weeks is up next week, my only hope now realistically would be a direct offer from QQ.

  56. Molly says

    This is so sad. I had an email from Ombudsmen five weeks ago. I confirmed my account details and have been waiting ever since. Sent a follow email this week and was told to wait due to back log.

  58. Stew p says

    Totally gutted for everyone waiting still. All I can say is the loudest bark seems to be heard. How you go about that is down to you. What’s the score with the American side of the business, you would think that they will pay back everything to outstanding. I hope anyways.

  59. Liam says

    Maybe i’m picking this up wrong, but it doesn’t actually say they are going into administration, it just says they are leaving the UK.

  60. Holly says

    Absolutely gutted about the decision to close UK business. I’m on week 9 of waiting for QQ to get back to my adjudicator, I was so close after such a long complaints process. I feel totally sick that they have been allowed to treat all of this way and now just walk away from it all. I’ve wasted a long time feeling anxious, maybe even a bit of hope to getting some compensation to help towards getting my finances in good shape and feel devastated for those who may be in really tough financial positions who may have been saved by some deserved compensation. Time for more uncertainty, frustration and let down by this greedy company I guess.

    • Phil says

      I am in the the same position but in week 11 of waiting for a response to adjudicators decision.

      Today was the deadline that my adjudicator had set before he forwarded it for an ombudsman’s review.

      I am devastated, this is the 3rd time this has happened to me, I had claims against payday express and payday uk at the same stage, doubt I will see a penny from all 3 now.

      My QQ redress should have been approximately £8.5k so a considerable sum in my position

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