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:
- 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.
- 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.
- 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
Kate says
I’ve had *slowquid* dragging out the process since September, I’ve agreed to the ombudsmans final decision – interest and charges plus 8% for ALL loans/flexcredit. I had one ‘loan’ then, apparently all subsequent were on the ‘flexcredit’ plan. The adjudicator was only going to award the flexcredit interest/charges but the first loan, coupled with the extra time it’s taken has pushed the amount up a bit more. Does anyone know how long from now please? Need another car, had to get towed today with our toddler, not good! If anyone is wondering it is deffo better to refer and W A I T! I’m just bored with the wait now and want to get another car sorted ASAP is all.
Emma Burton says
Hi Kate, how long did it take for them to pay out? I agreed and spoke to QQ last week but still nothing in my bank.. thank you
Janet says
Pounds to Pocket – Adjudicator found in my favour however P2P disagreed so it went to an Ombudsman. Letter received today Ombudsman disagreed with Adjudicator and has now found in P2P favour.
Steve says
That’s really frustrating! If it’s just the Ombudsman’s initial thoughts on the case and you think there are any points that are incorrect or missed from their findings, you can get back in touch and argue your case so still.
Janet says
I do have the option which I will be sending more information to them, fingers crossed.
southern fool says
Hi everyone, I have received an offer from Casheuronet (quick quid and pounds to pocket) through the FOS. I called the FOS yesterday and they sent me the details of the offer by casheuronet which I have accepted as I deemed it fair. Does anyone know how long it takes the FOS to let them know its been accepted and then how long they will take to make the payment to myself etc..? Thanks again
Steve says
I’m in exactly the same situation – my adjudicator let me know last Wednesday. I sent the acceptance to him, and also to Quickquid’s email address. Just received confirmation from Quickquid that it has been processed and should be with me within the hour. So 5 working day in total, assuming it does go into my account as promised.
Scott says
Hi, how long from you sending details/statements etc to FOS to getting an offer?
Thanks
Southern fool says
It was 2 months or so but I had to call for the offer as it was in a queue with the team at fos who deal with them
Cally says
Hi Steve,
I’m in the same boat as you, and Southernfool. Have you guys had your refunds from Quickquid now? Awaiting mine :)
Amira says
Hi
I’ve got a question about refunds
I made an unaffordability complaint to quick quid which they upheld
However, because I still owe them money they said they would make the payment towards the outstanding balance.
I asked if they would pay me the money directly rather than off the balance but they have refused.
Is there anything I can do considering they have upheld my complaint?
Thanks
Sara (Debt Camel) says
It is normal that will use the refund to pay off a balance.
How good is the refund they are offering?
Amira says
The balance is just over £1k and they are offering around £740
Smithy says
Good morning,
Thanks to Sara I’ve taken a case right through with Quick Quid to the adjudicator stage. Last week the FOS ruled in my favour for five years worth of loans with a combined interest of £9k does anyone have any experience of what happens next ?
I’ve not been in debt for three years so this is such a lovely thing to happen after some very tough times in the past.
Appreciate any advice on next stage & I will be gifting to Citizens Advice xx
Sara (Debt Camel) says
QQ have to decide whether to accept the adjudicator decision or say they want it to go to the Ombudsman level. They sometimes offer a lower amount at this point.
Perry says
Might be already on here but I’m trying to claim refunds from these payday loans. Logged on to my qq account and all my loan history is gone! How do I get a list of loans, top-ups, etc so I can see how many there is
Anonomous says
Write to them and ask for a statement of account
Mike says
I asked and they didn’t supply one but I was able to see from my bank statement download. Try and download it to excel and you can filter from anything that says “quick” and easily see how many loans and total payments (therefore the difference is the interest).
S Sanders says
Hi Guys,
Great thread! have been through my statements and worked i had 14 loans with QQ (£4200 interest paid) and 43! loans with Wonga (£1750 interest paid)
Would i send one letter email per loan or just 1 for each company detailing my breakdown?
Thanks for any help!
Sara (Debt Camel) says
One complaint to each company. You can start with the template here https://debtcamel.co.uk/payday-loan-refunds/ and change to describe your case. No need to bother with step one as you know the details of your loans.
LM says
After having my case against P2P agreed with by the adjudicator, P2P have disagreed with their decision, and has now been passed onto the FO for the final decision. How long does this stage take? I’ve been told by the adjudicator that most of their cases are upheld by the FO unless P2P can offer any new evidence against my case.
It’s a waiting game.. But getting annoying!
Kaylee says
Hi, are you any further forward with this? I am in the same position, QQ didnt agree with the adjusicator and so they passed it to FO for final decision last week. I am waiting and hoping they agree the same thing!
Becky says
Hi everyone.
Looking for advice: quickquid have got back to me upholding my complaint (at least on the loans not over 6 years old)
They’ve offered my interest back plus 8% (1112 ish to pay back my outstanding balance and a leftover 140 ish to be paid to me)
While I am happy with the offer, their email states that if I accept the offer I cannot make any complaints toward cash euro net. But I am also complaining to pounds to pocket who is owned by them!
My P2P loans over 6 years old are small though.
Basically, I want to accept the Quick Quid offer but is there any way I can and still continue with the P2P complaint?
Sara (Debt Camel) says
First, the QQ offer. Have they removed interest from the outstanding loan? They should reduce the balance to what you borrowed less what you have paid so far, before using the refund on earlier loans to repay it.
Becky says
Definitely not! The original outstanding quickquid loan was £750 and my balance still outstanding is £1456, which is the amount they are offering to pay off with the interest they are paying me back.
Now i’ve written that down, I do NOT want to accept their offer anymore!
Do I treat P2P as a separate complaint though?
Sara (Debt Camel) says
Sneaky, sounds like a good offer but isn’t ☹️
I suggest you reply saying you are happy to accept the refund offer if the interest is first deducted from the outstanding loan and that yiu receive a separate offer for the P2P complaint you have sent in.
Carol says
Hi Can anyone offer me any advice, I had 47 loans from Pounds til payday from 2007 onwards, I made a complaint for irresponsible lending on March 13th 2018, In less than 2 weeks they replied offering me £1500 but still denied it was irresponsible lending. I acted hastily and accepted it, however when I went back old bank statements I noticed the interest I paid was almost £8000, Is there anyway I can complain or because I took the payment is there nothing more I can do?
Sara (Debt Camel) says
Unless their offer to you was misleading (did they quote the wrong number of loans for example? Or not say yiu could take the complaint to the Ombudsman?) there is probably nothing that can be done as you accepted their offer in final settlement of your complaint.
Doug says
Hi, I am telling my story because I believe it will give people the confidence to make a claim agains payday loan companies.
I had a couple of loans with Quickquid. Both paid off on time without any late fees etc. I was under pressure to pay them on time but I managed it at the expense of eating/drinking properly and I walked a couple of miles to work instead of getting the train. My monthly wage would be paid in then paid straight back out. I was struggling.
I raised my complaint with Quickquid and I got the usual response… they said I paid on time, I never contacted them to tell them I was struggling and my monthly wage more than covered to repayments. I then referred my complaint, along with bank statements etc to the Financial Ombudsman. After 3 months an adjudicator found in my favour and promptly told Quickquid. Quickquid agreed with the adjudicator and have offered to pay me all interest plus 8% and remove them from my credit file.
I am awaiting payment. I never believed that I would get anything back off Quickquid as I had two loans and they were paid on time. However they were unaffordable.
You can be successful in a payday loan claim even if you only took out two and paid on time. Don’t be surprised if they turn you down, they expect you to give up, don’t!…. Go to the ombudsman, they are fantastic.
chris says
well done Doug,
I’m so pleased life is turning around for you now. From the stories I’ve read, no matter how many loans or how much was borrowed and repaid, there is a major impact behind every single person.
All the best Doug and really pleased you had a good outcome.
Chris
Jemma says
Thanks Doug,this has give me confidence as i have just gone to the ombudsman with my quick quid claim.I had 15 loans with them within 13 months and they came back with the same reply as yours so fingers crossed i get some money back!
How long did it take for the ombudsman to get in touch with you when you first sent your complaint to them?I filled out the form on their website a week ago and still not heard anything.
Thanks again
Mike says
I have this morning emailed QQ, Wonga, Pounds2Pocket & PaydayUK re loans that I have been taking out for the majoity between 2008 – 2012. I have had the odd loan since then but not a lot. I am unsure if I have all my bank statements (need to root through spare room junk) and when I have logged on to my accounts (lenders sites) I can only see 2 loans from last year on the Wonga site. Apparently the bank only supply you with statements up to 5 years old & I closed down one account 4 years ago. Hopefully I have these paper bank statements still.
In the emails I put my name, address at the time I took the loans out and my date of birth so they don’t reply to me asking for my details. I also asked for my account number, whilst copy & pasting the email off here… https://debtcamel.co.uk/payday-loan-refunds/
I’m not holding out for anything back off them from these emails, but will keep updating on here. It may lead to me just being vague and stating dates. I really can’t remember but I am 30 next month and some extra cash would be great to kick start me again.
MATT says
Hi All
Want a laugh…
QUICK QUID. I worked out £9k interest.
They have just responded with an offer of……
-Amount to be paid to your account £62.94
MATT says
Forgot to add they actually said complaint upheld in the email too!
Chris says
They’re getting better, mine is over 13k interest and was offered £14.84. ????
MATT says
I take it you didn’t bite their hand off :-)
Chris says
Lol,
It does make you think that these offers are so ridiculous, some people may be put off.
Thanks to Sara and this site, we know better now.
How many others are you waiting on Matt.
I have 5 now at the ombudsman, 3 settled and one at the 6 weeks stage.
Cheers
MATT says
Hi Chris
Yeah it is shocking really, almost criminal.
This site has been invaluable.
All together I have 11 complaints pending. One settled, 4 submitted to the Ombudsman and 6 are a week away from the 8 week period allowed.
Who did you manage to settle with?
Chris says
Settled with PDEX, PDUK and WDA.
The offers were about 80% of the interest and 8% on top, so I was happy with that as it was a good and reasonable offer.
What about you.
MATT says
I settled with Peachy at probably 70 per cent. They came back with a decent offer within a week and I negotiated it up a little.
WDA is one I am waiting on. All remaining have 6 days left to reply.
MrsWelsh says
Hi all, so have had a case with the FOS for 5 months, adjudicator upheld all loans a month ago since then QQ have asked twice for more clarification as to how the adjudicator has come up wth this decision (three separate requests) these have all been answered…… But how long can this all go on for does anyone know ? As I assume they could keep asking then eventually say they don’t agree ??? It’s all so confusing
Sara (Debt Camel) says
It is tedious but the FO takes the view that it’s better to try to sort things out at the adjudicator level rather than have the extra delay of a case going to the Ombudsman.
MrsWelsh says
Thanks Sara here’s hoping but I do think QQ will take it to the Ombudsman so the wait starts again.
Appreciate your reply
angela says
Pounds to pocket are looking for me to provide bank statements and payslips for my recent complaint against them . I have paper statements from 2013 -2014 and can access online statements back to June 2012 when I took first loan out with them . Is it safe or wise to forward them on by an email attachment or send them by post ( quite a lot to send ) They are also looking for payslips but my the statements show my wages going in so this would surely be proof of earnings ? I am actually getting my eyes opened as to how many payday loans I had during the period of 2011-2014 ! I was constantly juggling every day by paying of loans and then borrowing again . I had a DMP at that time also . Any advice would be greatly appreciated.
many thanks
Angela
Sara (Debt Camel) says
Personally I would not mind sending bank statements by email, but it’s your decision if you would rather send them by post, in which case recorded delivery is probably a good idea.
There is no need to send payslips as well, these are quite pointless if you are sending bank statements and the Ombudsman never asks for them. I think PTP only ask for them to make complaints sound difficult so some people give up :(
Jess says
Quickquid have made me an offer for half of the interest I have paid it has only been 3 weeks since I first complained! should I let them know I disagree with it and say why I disagree and that I will be referring to the FOS or do I just refer to FO without letting them know?
Sara (Debt Camel) says
You don’t have to tell QQ but why not be polite and do so? they don’t usually negotiate at this point though, so don’t delay waiting for another response from them.
Dan says
So had a response from QQ, which is below. They state that they have no record of me taking out any loans, however seperately i have had them send me a list of all y loans with them etc? Is this because they are older than 6 years (some are not)….
What should i do next as they have stated that it was their final response?
Dear Daniel xxxxx,
Customer # xxxxx
Thank you for contacting Pounds to Pocket. It is our highest priority to resolve any client issues as soon as possible.
In a separate email, confirmation of your withdrawing the authority of Claims Co was verified. Please be advised your Final Decision regarding your Irresponsible Lending claim was sent 14/03/2018. We advised the following information regarding your claim.
“To whom it may concern,
Customer Name Daniel xxxxx
Customer ID: xxxxxxx
Ref:xxxxxxx
Ticket: xxxxx
Thank you for contacting QuickQuid and Pounds to Pocket. We have received your claim for irresponsible lending whereby you allege that we provided you with unaffordable loan(s).
However, upon our investigation, we cannot find any record that QuickQuid or Pounds to Pocket (both are products offered by CashEuroNet UK, LLC) provided you with a loan.
Accordingly, we must reject your claim for irresponsible lending based on the information given. Should you have any further information that confirms your loan/s with us, please contact us on the details below.
Sara (Debt Camel) says
I suggest you reply attaching the list of loans they have sent you!
Dan says
But as they are mostly all over 6 years, dont we know the outcome anyway, so should i start up with the FOS now as they have stated it is their final decision?
Sara (Debt Camel) says
i think it is always worth reply to a lender if they have told you something which is factually wrong, like the wrong number of loans.
Lou7 says
Hi all,
I had my final response from ombudsman yesterday, I agreed so does that mean QQ and P2P have to pay out or not? If yes, does anyone know how long it takes for them to pay out? Thanks Lou7
Sara (Debt Camel) says
Yes it does, the final decision is legally binding on the lender. Hope it was a good result for you!
Lou7 says
Thanks Sara. Yes any money back is a good result for me, just like many the PDL cycle was hell. Such a fantastic website Sara!!! Couldn’t have done any of it without ur knowledge and people’s advice.
Shannon says
If it is final decision from an Ombudsman then it is binding by law. So yes they have to pay out. For my cases it was 28 days they get to pay out.
Ben says
Congrats on the decision, out of interest how long did it take the Ombudsman to make a decision once it had been passed to them?
Lou7 says
Thanks Ben. It took the ombudsman about 3 weeks to make the final decision.
Dan says
Quick update,
QQ sent me my final response saying i never had any loans with them after they have investigated, however they were the ones who sent me the complete loan history….? Either way, i have decided to start the ombudsman part of the complaint as after all, they have issued a final response to it all, and as most are over 6 years old, im unlikely to make any headway with them.
In regards to the FOS website, very very easy to use, and very user friendly, so anyone who is putting off the complaint, just go for it, you will have no issues whatsoever!
Kevin says
So after months of backwards and forwards with the Ombudsman they are finally reviewing my case, due to my complaint with CashEuroNet being based on a credit line started in 2011 they’ve refused the Ombudsman to review loan 1 of 4. They have however offered to return the interest for loans 2 and 3 with applicable interest and removing the negative activity on my credit file, they make no mention of loan 4 which the Ombudsman hasn’t yet reviewed but I’ve agreed to accept the first loan as to far back if they agree to the same term with loan 4 as they have with 2 and 3.
I’m currently awaiting on a response from the Ombudsman but given that I had difficulty getting hold of the bank statements for the original loan I felt it a fair compromise. I’ll update the end result when it comes through but does this sound like a good move? Even without the additional funds from the 4th loan return the default notices are still active on my credit file so feel it would be useful/ positive to have them removed.
Sara (Debt Camel) says
So they have offered to refund 2 and 3 and you have said you will accept 2,3 and 4 – is that correct? That seems a good compromise to me.
Bob says
How does the 8% interest to paid on top work? I paid 6k in interest over a flexi credit account with QQ in 2014-2015. Fos have upheld on this.
Sara (Debt Camel) says
Well done on a flexi credit win, people often worry that they won’t get a refund for those. See https://debtcamel.co.uk/interest-payday-loan-refunds/ for more about 8% calculations.
Liam says
Hi Sara,
I have accepted an offer at FOS adviser level of 3k from quick quid + pounds to pocket, if I would of took it to the ombudsman and won I was only looking at an extra £119. Just wondering now when I will get paid? On average how long has it taken for quickquid to pay once the claimant has accepted?
Cheers,
Liam
Steve says
Hi Liam,
It took a week from me sending back my acceptance to my adjudicator to the money arriving in my bank. Don’t expect any confirmation from QQ sooner. I got an email on the 7th day saying the money would be in my account within an hour.
Liam says
Hi Steve,
Thanks for your reply, I gave my bank details to my adjudicator on Friday so hopefully should recieve it this Friday. Is it worth me chasing quick quid for it?
Cheers
Steve says
It probably won’t do any harm – but I also doubt it will make it any quicker so save yourself the hassle. If you don’t hear anything by Friday afternoon, then maybe give them a call.
Stu says
Hi Sara,
I put my complaint in against QQ and P2P together and the adjudicator has just called me with an offer (he hasn’t started looking at the complaint yet!) but the offer seems quite good?
QQ: Borrowed: £1500.30 (06/13-12/13) and paid back £2123.00 (07/13-02/14) before defaulting and have an outstanding balance of £1312.00.
P2P: Borrowed £1020.00 (from 06/13 onwards) and paid back £1761.24 (from 06/13-default) with £1127.03 outstanding.
Total borrowed: £2520 Paid: £3894 Outstanding: £2439
Adjudicator has told me they have offered this:
•Refund all interest and charges paid on loans xxxx73 (flex credit ) equating to £1,433.19 (before 8% is added)
•Add interest to the above payable at 8% a year “simple”
•First apply refund to outstanding balance of £1,937.03 (for both accounts Quick Quid and Pounds to Pocket)
•Waive outstanding interest on loan xxxx73 (Flex Credit loan) of £514.20
•Remove the negative entries associated with xxxx73
New Balance: £107.09
Note should you accept this offer, CashEuroNet UK will waive this balance as a gesture of good will as well as remove loan xxxxx29 (instalment loan with three additional borrowings ) from credit file.)
I’m tempted to accept as this all disappears but I am not sure. For them to make such a generous offer before the case has even been looked at seems a bit too good to be true…..
Sara (Debt Camel) says
The flex credit loan is QQ? Did you just have one loan from them, or were there others?
The PtP – was that the instalment loan which also defaulted?
Stu says
QQ
The flex credit loan was originally for £900 and was with QQ taken June 13:
July 13: Repaid £ 194.52 Borrowed additional: £150
Aug 13: Repaid £303.69 borrowed additional: £90
Sept 13: Repaid £303.44 borrowed additional: £90 and £90
Oct 13: Repaid £290.41
Nov 13: Repaid £330.25
Dec 13: Repaid £282.27 borrowed additional: £180
Jan 14 Repaid £59.29
Feb 14 Repaid: £308.79 and £49.83
I’ll keep the P2P details separate and reply shortly once I have worked out that mess!
Stu says
P2P:
I had loans going back before June 13 but they were kind of affordable as I was only using them and Wonga, however in June 13 things got mad and I started borrowing widely from other lenders.
I took out £1100 in Dec 12 and repayments were around £181 per month. I am not sure if this loan has rolled forward and I have been borrowing to top it up? My records show from June 13:
Jun 13: borrowed £320 repaid: £212.50
Jul 13: repaid £212.50
Aug 13: borrowed £150 repaid £212.50
Sept 13: borrowed £550 repaid £178.60
Oct 13: repaid £289.41
Nov 13: repaid £289.41
Dec 13: repaid £289.41
Feb 14: repaid £289.41
arranged repayment plan
Started paying back at £75 in May 14 and June 14 then defaulted.
I don’t have statements from P2P or QQ but I still have the original emails and agreements as well as my bank statements.
Stu says
The adjudicator seemed to be saying that if I went ahead with the complaint and he found that the loans were affordable, the company could withdraw the offer? Has this happened to anyone? I am really worried now that I lose this “deal” and end up having to make repayments if the adjudicator finds in their favour?
Sara (Debt Camel) says
It’s a theoretical possibility. But we have never seen anyone who has has a serious offer from QQ get less from the adjudicator.
So the QQ loan you have repaid c £600 more than you borrowed. If the whole loan is considered unaffordable then there is no balance to be wiped out and you should get a refund from it.
The PTP, if you paid £181 for 5 months (Jan – May) that would mean you borrowed £2120 and repaid £2950 overall, so if it is all considered unaffordable there is no balance to repay and you should get a refund.
But if you are right that the first 5 months may be considered affordable then there still would be a small balance to pay. In which case QQ’s offer – even though it seems very confusingly worded, probably isn’t that bad.
Best case would be a full refund on the whole lot which would probably be a bit under £2000.
But there’s an awful lot of guess work here.
Stu says
Thanks for that Sara!
I think their offer is worded in a way to fox me, but I think on balance, I might just accept it and get it wiped clean. I highly doubt that the adjudicator would find in my favour for the first few months so it would mean that the smaller top ups might have been unaffordable…..I know there’s a chance of a refund but I think at this point, I would be more than happy to have 2 defaults totalling over 2k removed from my credit file! Thanks for your help!
Josh says
Hi Sara,
I have been awaiting a payment from CashEuroNet, who were due to refund me on the 20th April. And a week later I am still waiting for the refund. How are they able to do this? I am in regular contact with my adjudicator, who has been very good and is chasing them. Along with that I’ve had a letter from debt collectors about the outstanding debt. As this was going to be cleared by my refund.
Not only that, they said the transfer had been processed on the 23rd which is a lie!! How are they able to go over deadlines!!
Thanks Josh
Marie says
Hi Sara
I complained to quick quid and pounds to pocket a year ago, as id had several loans with both of them over several years but they didn’t uphold my complaint.
To be honest their final response was quite abrupt and I felt like an idiot for my financial problems so I left it.
But now I feel that I did have a strong case to take to the ombudsman, but I am conscious that it’s been over a year since I received their response and that you only have 6 months in which to take your complaint to the ombudsman.
Is it worth me taking it to the ombudsman and am I likely to receive a refund if it’s past 6 months since receiving the final response from quickquid?
Many thanks
Marie
Sara (Debt Camel) says
Unless you feel that their response to you was misleading in some way, I am afraid you have probably left it too late to take these to the ombudsman.
Stacy says
I referred my complaint to FOS due to QQ not upholding my complaint but making a nominal offer. An adjudicator reviewed and agreed with me however QQ still didn’t agree and it’s now been referred to an ombudsmen. Does anyone have any experience on this and in particular time frames? I’ve asked to exclude my loans over 6 years.
Sara (Debt Camel) says
It normally takes between 8 and 14 weeks to be picked up by the Ombudsman.
Julie says
Hi there
I’m currently at the beginning of a claim from QQ but they are asking for bank statements from the period I borrowed, what are these used for? and do I just send the full thing or just the bit showing when they deposited the loan?
Thank you :)
Sara (Debt Camel) says
In theory they examine them closely to see if the loans were affordable for you. Seeing a lot of the rejections and poor offers they make, on cases that then go on to get good refunds from the Ombudsman, they don’t seem to do a very good job…
It’s up to you if you want to send the, The Ombudsman will want to see statements from 3 months before your first loan until the end of the borrowing.
Aida says
Anyone know the number for casheuronet to chase up refund please?
Mike says
Hi so I made a complaint to the FOS on the back of a rejection letter from QQ. How long is it usually before recieving acknowledgement back? Also I initially made the request also asking for all entries from QQ to me credit report to be removed but the website crashed and when I reposted it I thought to ask. Is it too late in the process to ask now?
Robert C says
Hi I’ve put in a complaint back in feb 18 against qq and p2p for total of 18 loans between them, near end of 8 week mark I received a frl offering refund of £850 for one loan.
I then sent this to FO and yesterday received email from adjudicator stating qq won’t look into first 9 loans of 12 due to 6 year ruling but poundstopocket will let FO look into all 6 loans.
Adjudicator said it’s currently in queue for over 6 year loan complaints and how I’d like to continue.
I replied that I am happy for complaint to continue without the first 9 qq loans over 6 years as it still leaves 9 loans totalling over £6500 in interest.
Anyone had this happen and know timescales roughly going forward?
MrsB says
Hi,
I have just accepted an offer from QuickQuid who have agreed with my adjudicators findings – does anyone know how long it takes to get the money in my account?
Thanks to Sara this has been so helpful!
Allison says
Well done. Just out of interest how long did QQ take to come back to adjudicator. My adjudicator wrote to them on Friday last week.. just wondering if they take the full time.
MrsB says
Initial response was querying and came back a couple of days before the deadline.
My adjudicator then went back with more detail and gave them a new deadline of 25th April – I then only heard back yesterday!
They do come back but they don’t seem to pay much notice to the deadlines / timescales suggested by the adjudicators.
Hang in there!
Allison says
Wow!! Seems I’m in for a long wait. Their first deadline isn’t until 29th June.
Thanks for the update.
david says
rather bizarrely, today I received an email from QQ (considering I raised my original complaint with them back in Jan 2017 and escalated to the FOS regarding the over 6 year rule) asking for bank statements and payslips. only 18 months later…!!
I advised them I would provide to the FOS should they require them, and that the very fact they are requesting this information goes a long way to show that my concerns of unaffordability could well be valid; if they can’t locate what they based their lending decisions on, but I can, then it seems to me they are trying to wangle their way out of a fix here.
I finished off my response by asking them to bring the matter to resolution by making them an offer. will see how I go on and will update if I can!
Thankful! says
Hello,
Can I ask – were all your loans over 6 years old? If so, does the fact that they are asking for that information mean that they are now looking at loans over 6 years?
david says
yes, only two loans in total, both from 2008-2009, but they were taken out during a period of around 9 months where I was also using 3 other payday lenders paying one of with the other etc.
with regards to whether they are now looking at these loans i’m not sure, their response didn’t mention anything about that. plus i’m sure there are folk on here who have been waiting longer than I have so i’d have thought if they were then we’d know on here by now.
time will tell!
Aaron Limb says
Hello,
I recently applied for a refund after seeing this site and inside of 4 weeks have received the following from quickquid:
Please find the breakdown of the offer below:
-Contractual interest and/or charges £1368.8
– Interest at 8% simple £481.66
-20% tax withholding on interest £96.33
-Amount applied to your outstanding balance £351.57
-Amount to be paid to your account £1402.56
Please note this offer includes an element of interest payable at 8% a year.
My question is, is this considered a good offer or is this worth pushing? I don’t want to push back and lose my chance. I understand a good offer is always what I feel is acceptable but I’ve had a lot of serious issues due to these loans.
Sara (Debt Camel) says
That depends how many loans they are not refunding and what interest you paid on them – do you know these figures?
Aaron Limb says
Hello,
Basically, as I’m not sure I understand and don’t want to make a mistake, I took out the following loans: £250 (73.75 interest), £300 (£75 interest as a discount was applied), £400 (£118 interest), 650 (134.22), £650 (191.75), £700 (206.5 – this Loan was taken out 4 times), £700 (144.55), £500 (147.5) and £300 (88.5).
Their breakdown also states: CONCLUSION: COMPLAINT UPHELD
We take seriously our responsibility to treat customers fairly and to that point we uphold your complaint as it relates to irresponsible lending. As such, we are offering you a refund of £1402.56. We’d also like to offer to waive the remaining balance of £351.57 which equates to the interest charged plus 8% statutory interest on loans 7805500, 8088148, 8217524, 8346718, 8464016.
So does this mean that 7 loans interest were not refunded?
Sara (Debt Camel) says
Looking at those numbers it sounds like an OK but not great offer. You could well get more by going to the ombudsman.
Emma Jones says
I have had a reply from QQ. See below.
They have sent such confusing emails though and sent this after step one?? They also said they’ve included P2P and QQ flex but I don’t see how they’ve come to this pitiful refund figure ?
‘You are claiming that you were dependent on loans. Yet if you were dependent on taking out one loan to repay the other then you would have taken out numerous loans, for equal or increasing loan amounts, and with very little time between paying off one loan and taking out the other. When I reviewed your loan history I see that you held a total of 3 loans which given the low number does not exhibit financial dependency.
If there was dependency we would expect to see constantly increasing amounts in order to cover the prior loan interest and principal. However, your loan amounts varied and actually decreased from the previous loan which shows that you were not relying on one loan to repay the previous loan.
You are claiming that you were dependent on loans. Yet if you were dependent on taking out one loan to repay the other then you would have taken out numerous loans, for equal or increasing loan amounts, and with very little time between paying off one loan and taking out the other. When I reviewed your loan history I see that you never had more than four consecutive loans with less than 15 days. I can see that there was detriment in your lending history in loan number 5642497.
CONCLUSION: COMPLAINT UPHELD – 15.29 offered !!
Mike says
So I’ve just had a decision from the adjudicator on the 04/07/18 after forwarding my complaint to them at the end of November 2017. A long wait but it was worth it. They originally offered me £1500 which I rejected and the adjudicator has upheld my complaint and requested QuickQuid to refund interest on 5 years worth of loans totalling £8168 + 8% interest. A great outcome. QuickQuid have until the 13th July to accept the decision. Do you know if there is still a trend on them rejecting the adjudicator decision as I’ve been seeing a number of posts suggesting this?
Thanks. Mike
D says
I’ve emailed Pounds to pocket and they’ve asked me for the below information however, I no longer have access to that bank account nor do I have my payslips, what do you advise is best to do here?
To help us reach a fair complaint outcome in a timely manner (and where appropriate provide an offer of redress), please provide us with the following information as soon as possible:
• Bank statements (at the point/s you took out your loan/s with us)
• Payslips (at the point/s you took out your loan/s with us)
• Any additional information relating to your financial circumstances (at the point you took out your loan/s with us)
Sara (Debt Camel) says
Just tell them to proceed without the information. But you do need to get your bank statements – this is usually easier than people think from closed accounts but it can take some time, so start it now, so you will be ready if it has to go to the ombudsman.
I have no idea why they ask for payslips – apart from to make this sound difficult… no one has them and the ombudsman never asks for them.
Mo says
If i have sent a complaint over to QuickQuid and P2P, and they rejected it saying it the final decision, can i argue my case with them without sending my case to the FOS? i want to argue m case because the basis of the rejections makes no sense, and it it also seems very generic. Help would be appreiciated.
Sara (Debt Camel) says
I think you will be wasting your time – unless there is something factually wrong such as they have said the wrong number of loans, they don’t tend topay any attention to people trying to ask them to look again.
Annie says
Adjudicator ruled in my favour with QQ and P2P to refund loans 3-5 and 11-19 which I am happy with. QQ have come back accepting to pay out on only loans 3-5, they will clear £789 owed and refund the rest £1350 so off to the ombudsman, do they tend to agree with adjudicators and how long will it take now?
Sara (Debt Camel) says
The decision by the Ombudsman is often the same as the adjudicator. Sometimes the number of loans to be refunded are a bit different. A very different result is unusual.
Were 6-10 a lot smaller? Unless you think there was a good reason they weren’t refunded, I suggest you say to the adjudicator that you accepted their award as a fair compromise, but as this is going to the ombudsman you would like 6-10 to be considered for a refund as well.
Annie says
To be fair reading the adjudicators report on loans 6-10 which were P2P, the loans were over 12 months but most i managed to pay off earlier, ( although I will look at my bank statement to see if I borrowed to repay theses as I have had a few bank loans over the years) the repayment averaged at £150-£180 a month and on my income and extra shift payments showed I could have easily made the payments. So I would accept that decision but I will ask for those to reconsidered also. What I am annoyed at is that QQ think they can offer 3 loans when the FOS say 12. Thanks for the advice Sara, should I expect this to drag out for another few months now?
Sara (Debt Camel) says
Yes, from here it’s typically 10-14 weeks, but can be shorter or longer for no clear reason.
Toni says
Any updates on Cash Euronet (qq and pounds to pocket?). The Fsa advised theyre rejecting some older loans and would I still like to pursue with the the loans as a whole. Ive said yes as I think its important to consider how the loans escalated. Hope I have done the right thing? I wondered if anyone had any recent positive news about these two companies?
Sara (Debt Camel) says
No updates – as ever I am optimistic there will be news soon…
But how many loans did you have older then 6 years and how many within 6 years? If there were only a few over 6 years, then you could tell FOS that you will be happy to only get a refund on the loans under 6 years provided the earlier loans are taking into consideration in deciding what QQ/PtP knew and the point at which they should have stopped lending?
NB I am not trying to talk you out of pursuing the whole complaint for a refund if that’s what you want.
Toni says
Hi, 5 out 9 older then 6yrs for qq nd 1 out of 2 for ptp
Katie says
So I submitted a complaint to quick quid but I’d already asked payday refunds to act in my behalf, however, the next day I exercised the cooling of period and said I’d persue the claim myself. Now quick quid are refusing to speak to me unless they get written confirmation from payday refunds. My question is are they just trying to be difficult?
Sara (Debt Camel) says
Tell QQ you have cancelled using the claims company in writing within the cooling off period and that your complaint will be going to the finanical ombudsman after 8 weeks if they do not respond to you.
james says
hello. silly question. but it quick quid told me they dont uphold my cpmplaint and i go to the FO. How long do they take to check it out?
Thanks
James
Sara (Debt Camel) says
are any of your loans over 6 years old?
James says
No 2013 to 18. Was just wondering how long the FO take?
Sara (Debt Camel) says
Then typically somewhere between 10 – 14 weeks to be picked up by an adjudicator, a couple more weeks to a decision, then it depends if QQ accept that or decide to drag it out to the Ombudsman stage.
Mike says
Just over 8 months for me. They offered me £1500 at the start but then accepted the ombudsman decision of £9600 so worth the wait.
Bob says
Hi Sara, my QQ complaint was passed to an ombudsman as QQ didn’t agree with the adjudicator. It was then passed back to a adjudicator who has now taken 3 loans off from the original loans upheld to new information. Is it worth disagreeing with this decision and ask for it to be looked at by an ombudsman again.
Sara (Debt Camel) says
Have you been told why the three loans were taken off? how many loans were there altogether and how many are now going to be refunded?
Bob says
15 loans altogether. QQ offered to refund loans 4-7. I turned this down and the adjudicator added loans 8, 11 and 12. Now they’ve taken 8,11 and 12 off. Adjudicator said on loan 8 after I made the loan payment I had £350 left to spend. QQ supplied screen shots of the expense page on the application and they rely on this. This loan was a flexi loan and a lot of interest. 11 and 12 are not worth arguing about.
Sara (Debt Camel) says
Well after 7 loans, QQ can’t just rely on your application. It depends what the previous loans also showed. If you think QQ should have realised your loan application wasn’t accurate or wasn’t the full story then argue the case and ask for the Ombudsman to review all the loans.
Ashley says
Hi guys.
The final decision has been made by the financial Ombudsman and I am waiting for QuickQuid (CashEuroNet) to make my pay out. I’m just curious on how they will do so, will the payment go straight into my bank without telling me or will they send me an email?
Regards
Ashley
Kayleigh says
Hi
They emailed me and asked me to confirm the account number and sort code, they then sent me an email confirming they had sent the payment (which was on a Saturday) and the payments were in my account that same day. Took about 5 days from when the ombudsman sent them their decision so not too long
Ashley says
Kayleigh, thank you very much. I agreed the FOS final disicion on 23rd July. The FOS has closed my case, just waiting on a email from QQ. I’m debating emailing them myself and asking what’s happening with everything but not sure if I should…
Lou says
Hi everyone.
Today I have had a call from the adjudicator re QQ/P2P. He has said he thinks that loans 3 – 8 and loan 11 were unaffordable and that is what he will be telling them. In people’s experiences, are QQ/P2P likely to agree with the adjudicator or I’m I in for a fight?? TIA x
Sara (Debt Camel) says
It seems to be a bit random. QQ do accept some decisions, reject others and ignore some so it has to go to the ombudsman anyway.
If it ends up going to the Ombudsmna, make sure you say that whilst you were happy to compromise on the adjudicator’s offer, you would like additional loans x,y,and z to be considered by the Ombudsman for a refund as well.
Lou says
Thank you Sara for your advice. I’ve a feeling they will reject it. Does the ombudsman ever decrease the decision from the adjudicator?
Sara (Debt Camel) says
People are often pessimistic but end up pleasantly surprised!
Yes sometimes the refund gets decreased. But just as often it gets increased! No change though is the most common Ombudsman decision.
Lee says
Fight……my claim went all they way to Ombudsman level and after 1 year I am still waiting my payment. We have agreed loans to be settled but it’s still a waiting game.
David says
Have read all the stories on here about QQ. Have received my final response from them just 17 days after submitting my complaint. Not only that they have upheld my complaint and offered what on 1st look actually seems very reasonable. Obviously I will have a proper look before deciding to accept or not. Was just wondering if reading what I’ve read on here, anyone has had a decent result from them that quickly?
David says
Is there anyone on here who has got a SAR from QQ who has been in a repayment plan in the past. The reason is ask is that theres a contract in there that doesn’t match up with my statement of account. It’s dated roughy the same time as I had agreed a repayment plan.
Any help would be much appreciated
Sara (Debt Camel) says
In general cross checking against your bank account is the best way to sort out mystery reports.
David says
That’s the annoying thing Sara, wonga is where the payday loan spiral began, I really wish they would get back to me so I know exactly what bank statements to request. I suppose I have 28 days to respond to QQ’s final response
Sara (Debt Camel) says
Well you have 6 months to take the case to the Ombudsman, but really it’s best dealt with straightaway.
David says
Had my final response from QQ. I am happy with what they’ve offered me but there is no mention of deleting any negative information on my credit report. Am I able to go back to them to request this without it affecting their monetary offer?
Sara (Debt Camel) says
Yes you should ask for this now. I can’t imagine doing this would cause them to change the amount offered – the Ombudsman would think that was highly unfair.
Stacey says
Anyone any recent timeframes on ombudsmen qq complaints? After qq refused the adjudicator decision it was referred to the ombudsmen on 19th April. I’ve told them to ignore the loans over 6 years. Anyone know how long it’s taking to get a resolve at the minute?
Sara (Debt Camel) says
2-3 months usually. But some cases are quicker or longer for no clear reason.
Lou says
Thank you so much for this website. I have just had an email from the adjudicator and QQ/P2P have agreed to pay over £7k back! I can’t tell you how much this means to us as a family.
I have sent my acceptance form back today. Does anyone know a rough time scale for receiving the refund please? TIA
tom price says
they refunded to me although I settled before the FOS within a week, enjoy the money I certainly am!
matt says
Hi Lou
When did you refer this to the FOS out of interest? I have a similar size case so just wondering :-)
Lou says
Hi Matt. This first went beginning of June time. For some reason got picked up by an adjudicator really quickly (I sent others at the same time still not allocated to an adjudicator)
Allison says
Having just done it .. and my money arriving yesterday a little tip.
QQ don’t like dealing with us directly. Your adjudicator will tell you and QQ to liase with each other. QQ will
Ignore that and ask your adjudicator for your bank details.
The Fos compaints department for QQ are not reachable by phone (they are in the USA) if you phone QQ complaints they will just tell you to sit tight and wait and that they can’t deal with you but have to deal with your adjudicator.
I finally lost my temper and emailed the ceo .. to be given the email address of the American department.
It’s foscomplaints@enovahelp.zendesk.com. Once I had this and emailed these guys directly I had my money in under 48 hours. But it arrived in 69 little bits ranging from 12p – £390 at 9pm.
HTH
Lou says
Thank you. I’ve emailed them already to try and hurry things up a little. Fingers crossed I hear something soon :)
Eva says
My money was refunded in 4 days
Nina says
Hi Sara,
Please help?! first response back from QQ and it’s baffled me where the income information has come from (£8000) – Should I go straight to the ombudsman? I have sent statements showing my income at the time which was £1080 and can see all other loans was using at the time.
I had 5 loans amounting to £2100 and repaid each loan in several instalments. In the last loan i took out £600 and was sent to debt collector – on the debt collector letter it says i paid £574 and i had £187.50 remaining – i assume in 2014 I paid it back through them – They’ve said they decreased not increased – they increased from £100 to £600 per month.
Sara (Debt Camel) says
The income – are they saying you told them you were earning £8,000 a month? Or that your statements showed you were earning £8,000 a month?
NIna says
They are saying I said I had an income of £8000 – I would never of written that. My statements show I was only earning £1080 at the time.
They’ve said it was unaffordable as there was never less than 15days between each loan? and my loans decreased – they increased from £100-£600. I paid them in instalments but i had other PDL ‘s going on at the time also. It ended up being sent to debt collector as I couldn’t ultimately afford the instalments every month.
Sara (Debt Camel) says
£8000 is clearly a ridiculous amount for someone to earn in a month who is borrowing often from a payday lender. Who knows where they got that from, but if by mistake you had accidentally added a 0 onto the end of your income, QQ should still have stopped and thought that it didn’t look right and double checked it with you. Especially the next time you borrowed.
The rest of it is QQ’s standard weasel wording trying to make your case sound as poor as possible.
eg “From this I can see that the income you made during each payday loan with us was always more than enough to cover the amount you had to repay us” so they never actually lent you more than your salary… that doesn’t mean the loans were affordable!
“However, your loan amounts varied and actually decreased from the previous loan which shows that you were not relying on one loan to repay the previous loan.” But it is being able to get through the whole of the next month without borrowing again that matters. Not surviving 15 days. Sometimes you may have needed to borrow less – that doesn’t mean the loan is affordable.
“When I reviewed your loan history I see that you never had more than four consecutive loans with less than 15 days between loans.” That is a very confusing sentence. I could rephrase it as follows:
“At least one occasion you borrowed again every month for 4 months with very short gaps” you will see that makes your case sound much stronger – instead they have chosen the most negative way to say this.
I suggest sending your case straight to the Ombudsman. QQ don’t normally listen if you try to go back and argue.
Nina says
Thank you very much sara! I appreciate all your help.
Thanks, Nina
Amanda says
Hello Sara
I submitted a affordability complaint to Pounds to Pocket, and this was their response:
Lenders are required to make an assessment that is proportionate to the type and amount of the loan as well as the associated costs and risk to the borrower. It would not be proportionate for a lender which provides small loans, which are unsecured and which do not require a guarantor, to conduct the same assessment as a bank which provides high loan amounts which are secured by your home or vehicle. Your loans were unsecured. We did not provide a guarantor loan where you would have needed to have had someone else share the responsibility of repayment.
The investigation of your complaint also considered all relevant information contained in your application. It was noted your monthly income was stated as £800 per month. I compared your income to your total monthly repayment for each loan you took with us. From this I can see that the income you made during each payday loan with us was always more than enough to cover the amount you had to repay us for each loan and thus I cannot agree with you that your loans were unaffordable.
Is it worth pursuing with the FOS?
Sara (Debt Camel) says
Hi Amanda,
that is a standard template rejection from PTP
Could you say how many loans you had from PTP and how much you borrowed for each of these? Also what were the gaps between the loans?
Amanda says
Hello Sara
Thank for getting back to me, here is a timeline
Wonga -11/03/13 took out £80 repaid £110 on 10/04/13
QQ- 23/03/2013 took out £100, repaid £10 on 03/05/2013 and another £110 on 03/06/2013
QQ- 14/06/13/ took out £50 and another £75 on 17/06/2013 repaid £25 on 01/07/2013 and £150 02/08/2013
Wonga-24/06/13 took out £50, repaid £59.39 on 01/07/2013
QQ-12/08/2013 took out £150 repaid £30 on 02/09/2013 and £180 on 01/10/2013
Wonga- 09/09/2013 took out 180 repaid £222.60 on 30/09/2013
PTP- 28/11/2013 took out £600 to repaid £101 per month for 12 months
Wonga-16/12/2013 took out £271.00
Cash Genie Uk- 20/12/2013- took out £130
I was always in my overdraft whilst these loans were issued
Sara (Debt Camel) says
So I assume the reply to you was covering both QQ and PTP loans. As the amount you were borrowing was going up and your income wasn’t high, I think it’s worth asking the ombudsman to look at that complaint.
John Dickinson says
Hi There – I got several refunds 12 months ago from pay day lenders (Thanks to the advice from this website!)
Today I received a letter from QuickQuid/Pounds to Pocket who said I was due an “additional 8% interest on your refund”. They have enclosed a prepaid Visa Ecards for £740. I have registered the card – and all seems legitimate.
Has anyone else received the? Will the other lenders also be making a similar additional payment?
John
Sara (Debt Camel) says
Someone on Twitter has today reported being sent a prepaid card out of the blue for a QQ complaint already settled months ago.
Your refund – was it direct from QQ? If it was they usually don’t include 8% interest… I wonder if they have been told to change their policy? That’s just me guessing.
Could you phone up and ask them if they have deducted any tax? They have to tell you this.
JOHN Dickinson says
Hi Sarah – Yes the letter confirmed that tax has been paid on my behalf. Yes – was with QQ
Kind regards,
John
Jo says
Hi, yes I too received a prepaid card from QQ/P2P and I settled my complaint with them direct last September. I realised after accepting that they hadn’t included 8% interest and asked about it at the time, but they said I had already accepted their offer and that was that.
It’s a nice surprise though :-)
Sara (Debt Camel) says
How much is the amount on the pre-paid card? And what was your refund from them last year? At least one person has been sent an amount which looks a lot too small to be the correct 8% amount.
Jo says
Hi Sara, I’ll check when I get back home tomorrow afternoon. I haven’t activated it yet though.
Paul says
i’ve just received a prepaid card from quick quid, it won’t allow me to activate the card or register, why is this ?
Sara (Debt Camel) says
You will have to ask QQ. Other people have said that the prepaid cards they have been sent work.
How much have you been sent and how large was your QQ refund?
Shem says
Hi, I’m the same, I can access the balance via the customer service number and it is stating the correct value but when I enter the details to be sent a passcode to access my pin, no passcode is sent. I did randomly receive a passcode at 7am this morning even though I hadn’t requested one then but that number is not being accepted now. On line registration states ‘details not recognised’ when entering them for the password reset as instructed in the letter, even though they are the same details that were accepted to access the valence!
Anyone else had issues? I’m a bit concerned it’s a deliberate attempt to prevent paying out as their is a weeks time limit stated before it says the funds will no longer be available!
Shem says
Hi,
Apparently there was an issue with the phone number they held for me, a quick call to ‘Credecards’ customer service desk and all sorted and money paid out.
I can only assume anyone who did not get there 8% interest added should be receiving a further redress in this fashion soon.
For info, my original refund back in September was £3905 with the addition of a balence of £369 waivered, the loans dated back to 2012 And the interest paid now with relevant taxes stated as deducted is £1260
Shem
Paul says
my quickquid refund was around £2500, which was settled in august last year. the prepaid card has £800 on it.
Sara (Debt Camel) says
That sounds a reasonable figure for the 8% interest ????
Barry says
Hi Sara,
I have a complaint in against QQ and the adjudicator has came back with this response,
Quick Quid has told us they’re raising an objection into us looking into this complaint because you have not brought the complaint in the correct timescales. So we’ll need to look into the jurisdiction objection raised in order to know if this is a complaint we can look into.
I’m assuming this is to do with the 6 year rule? I had one loan just outside the 6 years but the rest are under 6 years at the time of complaint so I’ve just told them to ignore the one over 6 years as this was my first loan and unlikely to be refunded anyway.
thanks
Barry
Sara (Debt Camel) says
Yes that is the 6 year rule – it makes a lot of sense to drop the one older loan.
David heaslip says
been offered £2000 from qq today not gone to ombudsmen yet they admitted liability on 6 loans but apparently I took out 53 loans with them borrowing £1100 a month going to let it go all the way great thread
Mike says
Hi Sara
I also received a pre paid card from quick quid with783 on it a I foolishly accepted an offer of 400 from them when I was desperate
Last year
It should have been thousands it doesn’t make sense if this is interest
Sara (Debt Camel) says
People have been told it is the statutory interest, which is at 8% on the refund you are given. But that doesn’t make sense for you… I can’t imagine that QQ have decided to refund more loans…
It’s hard to know what you should do as it’s not clear what they think they are doing. they may have sent you too much or too little!
I am moving this comment to the QQ page tomorrow: https://debtcamel.co.uk/quickquid-payday-loan-refunds/. There are now a lot of comments about this and it only affects QQ and Pounds to Pocket, so they are better over there than on this general payday loan refund page.
John says
Iv had a prepaid debt card from Quick Quid in the post today because of 8% interest that wasnt added to my refund. Why is this?
Sara (Debt Camel) says
New article on these Visa cards with extra refunds that are being sent out: https://debtcamel.co.uk/quickquid-sending-extra-refunds/
david says
if this helps the site and / or anyone still waiting on loans over 6 years… i had a letter from the FOS at the weekend reaffirming that they are still looking into the test cases and as it stands there’s no change in that respect, but they are at least confirming its still ongoing and we won’t miss out.
no timescale unfortunately.