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
Bob says
Hi Sara, I had 12 loans with QQ. When I first complained QQ offer to refund loans 4-7. I rejected this on sent it to the fos. Adjudicator came back with the original offer plus to refund 8,11 and 12. QQ rejected this and it went to a ombudsman. This was then passed back to the adjudicator and with new information from QQ he went back on his decision and to QQ original offer on loans 4-7.
Loan 8 was a flexi loan and I borrowed 24 times in 18 months totalling 14k.
So I asked him to look at loan 8 again with a spread sheet with all the other payday lenders I was borrowing from and he’s come back saying QQ rely on information I providing when I applied for the top ups and his decision is still the same. Surly alarm bells should ring borrowing 24 times in 18 months. I’ve asked the ombudsman to have a look at it.
Is it worth it or shall I just take loans 4-7?
Bearing in mind interest on loan 8 is around 6k
Sara (Debt Camel) says
Sounds worth asking for an Ombudsman decision.
Paul McStay says
My case has went to a final decision from the FO following QQ rejecting the adjudicators recommendations . The email I have received states this could take a further 3 to 6 months. It has taken 10 months to get to this point. Has anyone had experience from this point. QQ have not made me a single offer either. Thanks
Sara (Debt Camel) says
The typical time from here is 10-14 weeks. A few faster and some seem to get stuck for longer for no clear reason. What was the offer from your adjudicator?
Paul McStay says
I wasn’t sent a monetary offer. They recommended that QQ refund the interest on all my loans bar 1 however QQ has rejected this and it has since been forwarded to FO. I dont know if this means my case is not that strong??
Sara (Debt Camel) says
That is the normal form of an offer. Much the most common Ombudsman decision is to agree with the adjudicator. Sometimes the Ombudsman will “tinker” with the offer, deciding you should have all the loans refunded perhaps or all except 3 loans refunded. It is VERY unusual to get a very different result.
James Connor says
I just wanted to say Thankyou plus a question:
Pounds 2 Pocket offered me £24 for my 15 loans in total admitting liability. This occurred after only 1 weeks. I presume by admitting this strengthens my case? I loaned approx £4500 over 5 years.
“we are offering you a refund of £24.17 which equates to the late fee charged plus 8% statutory interest”
This offer was just one 1 loan not the 15 (which were all payday loans. Presume this is the norm first round response. Unsure if I reject wholly or ask for a review?
Sara (Debt Camel) says
It doesn’t strengthen your case, thy are saying their was a minor technicality which they are offering to put right, it says nothing helpful about their overall affordability checks. Which sound in your case to have been very inadequate!
You are wasting your time to try to get them to look at this again, they don’t negotiate, I suggest you send the whole case to the Ombudsman.
James connor says
Sarah, Thankyou. Your right they wrote yesterday stating I should go to the ombudsman but that they may not review it favourably and the £24.17 offer is now withdrawn. I think I’m content with that, any offer even on a technicality for me smacks of inadequate processes. Interest on one £300 ended in £3200 in interest as I couldn’t repay as I lost my job and sent in all proofs, they just rolled it and rolled it.
Pras says
Hello,
Does anybody know how long it takes for Quick Quid / CashEuroNet to get in touch with you regarding redress payment once you’ve accepted the settlement offer via adjudicator? Many thanks.
Pras
Dan says
Hi Pras,
It took them 3 weeks to get back to the adjudicator and let them no they didn’t agree with the decision for myself. Once it was with the Ombudsman and they notified QQ that they agreed with the Adjudicator, it took them 4 days to get in touch and ask for my bank details.
Pras says
Hi Dan,
My adjudicator emailed me last week saying QQ agreed to her findings and also agreed the improved settlement offer which I accepted too. I then sent her back the signed and dated settlement offer. Few days ago my adjudicator sent me an email saying that she has passed my form to QQ and advised to get in touch with me asap or arrange payments within 4 weeks. She also wrote “the case is now closed”. I guess it’s just a case of waiting game now.
Thanks
Pras
Jemma says
Hi
I currently have a complaint with the FO against Quick Quid which i sent back in April.I haven’t heard anything back from the FO yet and i have balance outstanding of £266.00 on my QQ account.When i log into my QQ account it says my accounts on hold in a protected status since April when i sent my complaint in.It wont let me pay anything as its on hold but this is showing up on my credit file as a late payment and affecting my score.Is there anything i can do about this?
Sara (Debt Camel) says
It will all get sorted when your complaint is resolved. If you win the complaint, the late payment marker will be removed.
C says
I sent mine to FOS on March 1st and still waiting to be allocated. Ive also agreed to the loans over 6 years being removed.
A different lender complaint submitted 3 weeks later was picked up 4 weeks ago and upheld in my favour.
Seems as though QQ take a bit of time at the FOS, I can only guess it’s the amount of QQ complaints and the amount of adjudicators assigned to QQ complaints.
All the best and as Sara says, it’s likely they’ll remove the late notice. I’ve had 5 removed now and 4 lenders have agreed to remove all history.
Robert says
I have an outstanding balance with quick quid around £1500 from 2015 which is in default. They are not chasing the debt and I think I have a case against them (they probably know this) based on the in affordability and the rolling of the flex account.
This is a blemish on my otherwise clean credit file and I wonder if anyone has had any success in asking quick quid to strike the credit. I’m less bothered about the refund than the removal of the record from my credit. Is this something to negotiate with them or do I need to win a case first and then take it from there.
Also if any refund is awarded and it doesn’t cover the full arrears do you know if they have any obligation to write to the credit reference agencies?
Sara (Debt Camel) says
You need to make a normal affordability complaint, asking for a refund of interest & the removal of negative marks from your credit record.
Cases for flex accounts are being won, so ignore it if QQ says this wasn’t a payday loan and they weren’t obliged to check each time you withdrew money from it.
If the loan is considered unaffordable, the negative marks should be removed even if there still remains a balance.
Deborah says
After 2 emails i received a refund of £604 not bad at all well worth trying i hadva few loans from QQ over 4 years ago never thought i would recive a refund
Ben S says
Strange one here. I paid QQ over £3000 in interest for loans mainly over 6 years old. I also took out a pounds to pocket loan afterwards and owed £1000 that was never paid. The thousand pounds is statute barred as over 6 years old. Will they take the act I didn’t pay the £1000 into consideration from pounds to pocket if they make an offer for my QQ case?
Sara (Debt Camel) says
Almost certainly, yes. Even though the debt is statute barred, it still legally exists so there will probably be a set off.
Lucy says
Hi , had forwarded a complaint to the Financial Ombudsman re casheuronet payday loans (Pounds to pocket and Quick Quid). Sent this in Dec 2017 and have just received update to say that Casheuronet are raising a “jurisdiction objection” as some of my loans were sold over 6 years ago. Is this a normal response ? Thanks in advance
Sara (Debt Camel) says
yes QQ always do this. How many of your loans are over 6 years old and how many under?
Lucy says
Hi Sara, thanks for quick reply. Quite a few of them starting in 2011.
Sara (Debt Camel) says
OK, well you need to settle in for a very long wait then :( If there were only a couple of old one it would probably be worth dropping them to speed this up.
Laura says
Just had my first complaint assigned to an adjudicator for QQ (nearly 6 months with FOS), apparently they were assigned just over a week ago but haven’t heard from them yet..Just wanted some feedback as it is my first..do they only contact you if they need more information and then give you their decision or should I have heard..do they introduce themselves? Any feedback would be greatly received. Thanks.
nikki mccormick says
I sent my QQ comaplaint in May then they asked for bank statements etc. Then didn’t hear anything until the letter saying they agreed.
J says
Hi Laura,
I also just had my complaint assigned to an adjudicator after sending it in at the start of April, and deciding to remove it from the jurisdiction queue (loans over 6 years). My adjudicator emailed me and introduced themselves earlier this week, but this was because they needed further information. I’m not sure what the process is otherwise.
I will say that if they need further information from you, they are really great at explaining what they need and why, and which aspects of the case it will help them with. They are very much focused on being fair.
Hope this helps!
Nick says
So after a what seems an age, I’ve gone through the process of getting the adjudicator decision reference loans taken out with quick quid.
Initially upon my complaint I provided evidence of how I shouldn’t have been offered loans etc and they came back with their generic response offering me £15 as way of compensation!
Given I’ve got back near £9k already from payday lenders for the same thing I knew I had grounds to get the full amount owed. So long story short the ombudsman has agreed and all loans and top up loans from 2014, some 14 of them were sold without proper checks.
Has anyone experienced QQ digging their heels in as I simply can’t see how they can argue it given the evidence presented and how long do they usually get back given a deadline on the 5th of sept has been given?
Great place for information by the way guys, keep it up
Lewis says
Morning all, sorry to bother you all….after 12 months of nonsense with Quickquid I’m pleased to say the Ombudsmen has given a final decision on support of upholding numerous loans that total over £7k in interest…..does anyone know if they pay promptly or am I in for another manmouth wait…..thanks to all your advice It’s been worth sticking with it….
Dan says
Hi Lewis,
I had the money in the bank just over a week after the Ombudsman gave the final decision. This was at the start of August.
Lewis says
Thank you so much for replying Dan…..just confirmed my bank details so hopefully will hear something in next week or so …..thanks again.
ALEX says
HI, i have just started a claim against QQ using advice and template from this site , i initially tried a claim through a claims firm but they refused to proceed as i was in an iva for most of the time i took out loans with QQ. that doesnt make sense to me as if i was in an iva all my income and expenses were taken into account with nothing spare , at no time did any of the loans appear on my credit report so i doubt they checked it .any thoughts please .
My IVA is completed.
Sara (Debt Camel) says
Although your IVA has finished, it is possible that a refund for any loans taken out before or during the IVA will be paid to your old IVA firm, not to you. Some IVA firms may not claim this.
A refund for any loans taken after the IVA will cone to you.
ALEX says
i had to sign to to say that any ppi gained after the iva would be paid into the iva , but nothing about interest or misselling of payday loans , i was allowed to obtain credit up to £500 and every loan i had with qq was rolled over and extended to the max , i would then use money needed for essential living to pay off the balance and immediately reloan which went on for about 5 years , i am waiting for them to send me a record of all the loans but have all the emails for each one stored , i cease to be on the iva register on the 31st of this month and qq obviously dont know i was in one because apparently it is against their own policy to loan to someone in one which they did for 5 years ???
Sara (Debt Camel) says
Well definitely don’t complain until you have that completion certificate!
A couple of people have reported here that their refunds were sent to their IVA firm – I am just warning you that this may happen.
ALEX says
thanks , i have the completion certificate , was just concerned if there was some reason why my complaint would fail because i was in the iva at the time .
Sara (Debt Camel) says
No, the problem is that you could win the complaint and not get any of the money.
ALEX says
Ah, i understand why the claims co didnt want to know now, thanks very much will keep you informed of any progress , at least i didnt fall foul of the leaches this time, once again thanks.
Chris says
I am just starting on this process now. I have a rough estimate from my accounts as too how much I have borrowed for a long period of time. i have been really struggling financially until recently and have managed to put an end to it. Didn’t realize this was an option. I have taken circa 40 loans from quickquid pretty much 1 month after another from 2013-2017 ish. The interest on the loans equated to about 23,000 ish. This would be a real boost if I could get anything back. Will keep you updated.
Sara (Debt Camel) says
That sounds like a big claim!
Adam says
I have just heard of making a claim against these companies, believe it or not. Have been in financial difficulty for years and betw 2010 and 2015 borrowed in excess of 50k from QQ and WONGA. I was borrowing loans the day I paid them back up to £2000 per month. QQ went from a once a month account to a FLEXI with me being about to take 3 separate borrowings per month. What can I claim for?
Sara (Debt Camel) says
Put in separate complaints to Wonga and QQ asking for a refund of all the interest you paid. The template letters are here: https://debtcamel.co.uk/payday-loan-refunds/. I suggest you do this as soon as possible, you can go into more detail later.
At the moments complaints with loans over 6 years are very slow at the ombudsman, but I am hoping there will be some news on these soon. For the moment I suggesting asking for a full refund and you could later shoose to drop some older loans when you have an offer or a rejection from the lender.
Darren says
Good morning
I received my SAR details back from Quick Quid, however, I also received a separate email from them stating that I couldn’t make a complaint in relation to a refund of interest as the loans were taken out between 2010 and 2011? Is this right? If not, should I bypass them and go straight to FOS?
Many thanks
Darren
Sara (Debt Camel) says
If they have said that is their final response, yes you can send this to the FOS now.
This case is likely to go VERY slowly, as QQ complaints re loans over 6 years are currently on hold whilst the ombudsman and QQ argue about some test cases. Hopefully this will be sorted soon. At this point you have nothing to lose by sending it in!
Ross says
So the adjudicator has sent his assessment of my complaint to Pounds To Pocket and told them how to “set things right” he told them to refund all interest on 12 out if 18 loans which I though was amazing. Pounds to Pocket have just come back with a counter offer of a refund of 2 loans which would pay off my outstanding balance. Is this fair? Do I decline this? It’s not even close to what the adjudicator has told them. Any help would be appreciated!!
Ed says
Definitely reject, it will be passed to ombudsman who 99 times out of 100 will agree with adjudicators decision, I have had many cases where as soon as the lender finds out you have rejected their counter offer they generally say ok fair enough and agree to settle based on the adjudicators decision, I have had this happen 3 times now
Ross says
I rejected the offer, it’s almost insulting to even offer that. Even the adjudicator said it wasn’t fair. I will keep you updated on how it goes. Thanks!
Matt says
Hi Sara
Do you think we should be concerned about other lenders following Wonga into administration? Quick Quid in particular? Reason being I have complaints logged with some loans over 6 years old and I am wondering now whether to take the hit (£3K interest) and proceed with the less than 6 year ones to speed it up?
I have outstanding complaints that were submitted in April including one against Wonga which was roughly £6k interest so I am a little worried.
Any advice appreciated
Sara (Debt Camel) says
QuickQuid has a large American parent. See its last year’s financial results: http://ir.enova.com/download/Annual+Report+Final+2017.pdf.
Only someone with a detailed knowledge of QQ’s current financial position could say if they are in trouble. I ams still expecting news from the ombudsman soon about the over 6 year cases but I have been saying that for a while – perhaps Wonga will mean they actually get round to issuing a final decision.
Mike says
Hi, an adjudicator ruled in my favour for loans 3-10. I worked out it would work out about £2,000. Quickquid refused the decision so it’s now with the ombudsmen. The time for either of us to send in any further details has passed. How long does this next step usually take?
Thanks
Mikey
Sara (Debt Camel) says
2-4 months is typical.
r carroll says
What to do now?
Sent QQ an initial email after getting my requested data/loan history and they replied :
I acknowledge receipt of your correspondence and/or complaint. We take complaints seriously and confirm that we will be conducting a thorough investigation into your concerns and will respond to any enquiries or requests for information (where made). Please carefully review the below and if necessary, respond to us accordingly.
If your correspondence was intended as a:
1. Request for documents from us – this will be provided and where appropriate, we will also let you know if we need any additional information;
2. Credit reporting complaint – to help us investigate and resolve the matter quickly, please provide us with copies of your credit reference agency file(s) displaying the information you would like us to investigate;
3. Complaint – to help us reach a fair complaint outcome in a timely manner (and where appropriate provide an offer of compensation), 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)
This information will enable us to complete a full investigation into your complaint.
Sara (Debt Camel) says
You don’t have to do anything. If you have asked for a list of your loans, you could reply that you will give them more details after you have reviewed that information.
You can send bank statements if you want. QQ seem to have a pretty automated response system that calculates what loans should Be refunded according to some very restrictive criteria – it’s not clear to me that supplying bank statements makes any difference to this! If you don’t have your bank statements, this would be a good time to start getting them so you are ready if the case needs to go to the Ombudsman.
There is never any need to supply payslips, the Ombudsman never asks for the, I think QQ only ask for these to make the process seem difficult!
Mandi says
QQ asked me for bank statements. I sent them, thinking that it wouldn’t cause any harm and I already have them all saved for the FOS if necessary.
I have only had 3 loans with QQ but they were in amongst a number of others and I sent statements that showed all of the loan repayments, which should have demonstrated that I could not have afforded these loans, but they have still rejected my complaint, so I’ve sent this to the ombudsman now.
Adam says
I have had a lot of payday loans, I have requested information about my loans, but they have only sent one or two loans that I have had, when checking my bank statements I have had loads of payments in and oit, surly they should be sending me every loan I have ever had with them and not hide them from me.
it’s QQ, showing 7 loans, but my bank statements say I’ve had a lot more than that.
Sara (Debt Camel) says
Is it possible some of the loans were rolled – that would show one deposit, multiple repayments? Or topped up? Or that QQ has classed one as a flexi loan, so all the borrowing and repayments over the next few months is actually a single loan?
Eva says
I had the same. But some 9f them were top ups
Adam says
Might be, my bank statements show multiple deposits from QQ , I sure they wouldn’t lie about the information surely? I have to say I was very bad and got in a bad way with PD loans I used 11 different provider’s to pay off other loan’s. Long road a head, thank you for the information.
Aaron says
I’ve followed a lot of debtcamel advice and after about a year my case has went to the final ombudsman and they agreed in my favour. It’s been a long process with quick quid disagreeing every stage.
I’ve just received a email saying my quickquid banking details has been changed.
Is this normal? I have changed bank since being a quickquid customer so is this normal? And does this mean they are in process in refunding my refund?
If not any idea how long they normally take to refund money as it’s been over 10 days so far
Heather says
I called quick quid to update my bank details and received a confirmation from that email address. Have you managed to get your funds through now? If not I would call them
Pamela says
Hi Sara I have sent about 12 refund letters.Have had a rejection from one lender.I am really worried about continuing as I took out all the PD loans while on a DMP.I was in such a dire financial mess I often ticked that I was not on a DMP when applying.Do you think this will get me into trouble? Should I keep going with refund process.Thank you.
Steve says
Good morning, has anyone had any experience with QQ payout speeds?. QQ Rejected adjudicator findings, went to Ombudsman and I’ve sent the Settlement form off to accept yesterday. Thanks.
nikki says
I sent my acceptance on 22/08 and money was in my account on 30/08. QQ will email you to ask for bank details then will pay it in a few days later.
Steve says
That’s reassuring, thanks
Lou says
Adjudicator sent my acceptance form on 03/08/2018. I confirmed my bank details on the 08/08/2018. I am STILL waiting for payment. I’m actually starting to doubt it will ever come. I have contacted the adjudicator who can not get an answer from them. Hopefully you won’t have the trouble I have had. Causing a lot of stress.
Nick Davis says
So quickquid got back to the adjudicator after she submitted her findings that all loans issued to me were unnafordable and they want to settle. Unfortunately the adjudicator said she is still awaiting some clarification from them with regards to what they’ve said and would not telle the content or amount offered. My guess is it was less than what the total interest works out. Anyone else had this?
Kara says
I’ve received a letter from the Ombudsman saying that they’re still looking into the older than 6 year loans with QQ and it’s taking longer than expected. They’ll be in touch when they know which of my loans they can look at. If QQ don’t agree that they can look at 6+ year loans, presumably we can still complain on the basis that we only became aware of unaffordable lending complaints within the last three years?
Please let me know if you would like a copy of the letter Sara.
Dave G says
Hi,
Thanks for all the advice on this site, so far i have had a 2400 refund from wonga earlier this year without having to go to the FOS (could have been 3400 if i had took it to FOS but i needed the cash and it was a decent offer) Also QQ have now agreed with my adjudicator and are giving me a refund of over 5k, i made the initial complaint in January so has taken 9 months in total so far, i still have a couple more complaints to hear back from the FOS on too, fingers crossed!
Thank you for the great advice i didn’t know you could make this kind of complaint until i found out on here.
Does anyone know how long it takes to get a refund processed once a decision has been agreed to, my adjudicator at the FOS says to contact him back if i haven’t heard/received anything in 28 days…does it usually take that long with QQ?
Hayley says
Hi All, I started the ball rolling on this on 3rd September. Today I received the started response asking for payslips and bank statements (better than a rejection), Had over 35 loans since 2009, on a month on month rolling basis. Near £6k in interest, Will keep you informed
Myles says
I’ve done the same but haven’t received a reply yet. I’ve followed up with them several times and they just don’t reply. Let me know if they acknowledge receiving your documentation.
Andy says
Hi, I had a decision from adjudicator upholding 14 loans with QQ. They came back offering to repay 3 loans. I refused this and told adjudicator I wanted it to go to ombudsman. Today I got a mail back saying Just a quick email regarding your case, Casheuronet have responded to our assessment with further arguments that we’re considering – and we’ll be in touch as soon as possible with an update.. Is that this normal with QQ? What would there arguments be? Would be grateful if any advise
Sara (Debt Camel) says
Other people have mentioned this. The most common result seems to be that there is no change. Sometimes the case gets sent back to the adjudicator to look at again.
Myles says
Has anyone else submitted bank statements and never received a reply? I’ve sent several follow up emails asking them to confirm that they received them and they just don’t reply? Is this normal?
Michelle says
Hi Miles, after the initial email asking for bank statements/payslips/etc, I send them back some info the same day. I got a response within 24 hours confirming receipt and that as per UK law they would respond within 8 weeks.
Myles says
Thanks Michelle. They haven’t responded to me at all since I submitted bank statements. I didn’t submit my payslips as my income is reflected on my bank statements which I mentioned in my email to them. Do you think I should be concerned that they’ve just binned off my complaint due to not providing everything they asked for?
Sara (Debt Camel) says
Almost no one sends payslips as few people have kept them for years. And with bank statements they aren’t needed except for the very unusual case where you are paid in cash!
Myles says
Thanks Sara. I’m just concerned that I haven’t even received a response to confirm they’ve received the bank statements. Do you think it’s worth calling them or just waiting until the 8 week point is up and then going to the financial ombudsman?
Sara (Debt Camel) says
I think you should phone them now to check.
Myles says
I’ve given them a ring and they gave me the number for the resolutions department who have now confirmed that they have received my bank statements. Apparently when I reply in the thread they sent they don’t actually receive my replied, even though it doesn’t say to send them to a separate email address. Hopefully they go from the date I sent originally them and not from today’s date from when they were resubmitted. We’ll see what happens. I’ve asked them to send an email to confirm that everything has now been received.
Aaron Myers says
Hi I put in a complaint with Quick Quid/Pounds To Pockets on 04/01/2018, received an offer of £24 off my debt on 14/02/2018 which I rejected and sent to the FOS. Was sent to the FOS on 01/03/2018 and accepted a month or two after, repeatedly after this I was asked for bank statements etc by my adjudicator which I didn’t have access to and received no information that it was progressing anywhere so I gave up with it. I then received an email today saying that the adjudicator has upheld my complaint and they are communicating with the lender to discuss the resolution that they have and they are awaiting the lenders response. My question being how long am I looking at to wait from this point until Quick Quid get back to my adjudicator?
Sara (Debt Camel) says
It’s hard to guess, this sounds like an odd case.
Aaron Myers says
Odd why? Due to how long it took or something else?
Sara (Debt Camel) says
Because it’s pretty unusual to win a case where you didn’t supply bank statements.
Aaron Myers says
Hm I guess I’ll wait and see what happens, nothing saying I’ve won yet just that the adjudicator has upheld my complaint and are communicating with the lender to discuss the resolution that they have. Quick Quid/Pounds to Pockets could disagree with them still. Hopefully not though I’ve waited about 8 months just to get to this stage. Thanks for the reply.
Sara (Debt Camel) says
Hopefully you will be fine, I’m just saying I have no experience of this situation.
Aaron Myers says
“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 would like to offer to waive £24 which equates to the late fee charged on loan 6983122.”
I’m assuming based on this I have somewhat of a good case as they’ve admitting to irresponsible lending on one of the loans. I’ve received an email saying the adjudicator will be giving Quickquid/poundstopocket until the 19th of September to respond to so hopefully I’ll get the final settlement offer by then.
Sara (Debt Camel) says
QQ were saying that there was some small problem with one loan. This doesn’t really improve your chances of winning the rest of your complaint. If you borrowed a lot, that is why you have a strong case.
Wits71 says
Hi – advice needed please. Only found out I could get interest back fron these sort of loans a couple of weeks ago. Sent the 1st email (template from here), on 26th August. 27th Quick Quid replied. 30th they asked for bank statements and payslips. I said i was with a different bank and had changed jobs also, so this would be difficult to get. Hinted at going to FOS instead. 13th September I received an offer of £406. I queried if this was Pounds to Pocket also, as the same contact name was on the email. They confirmed today that this offer is for BOTH. I worked out my interest just for QQ and it was over £2,000 I paid. Pounds to Pocket wasn’t as much I don’t think, but would be at least a few hundred. I have 28 days to decide on the offer. I’m tempted to say yes and get it in my account, as I worry they may go the same way as Wonga. However, I think that I should probably reject the offer, looking at comnents here. I’m assuming maybe they know I have a good case for a lot more. Any ideas gratefully received. Thanks
Sara (Debt Camel) says
The Ombudsman doesn’t ask for payslips. You can get bank statements from closed accounts unless they are very old. this is normally easier than people think. How long ago were your loans?
Wits71 says
That’s the thing… when i received my account details, everything is there barring the actual dates. There are just #### where the dates should be. It was August 2013 when I informed them I was working with stepchange and was in financial difficulties. The loans were therefore before that. 2012/2013.
Sara (Debt Camel) says
Well unless Q have told you some of the loans are over 6 years old, they probably aren’t. I suggest you don’t think long but send the case to the FOS as it will be quicker if all loans are under 6 years old.
Obviously I can’t be sure QQ aren’t going to go bust but they have a big American parent and I guess the FCA, their regulator, will be keeping a close eye on them. There is some risk here, but they seem to have made a very poor offer.
Wits71 says
Thanks for your help and great forum Sara,
Their offer is pretty poor. Obviously it’s better than nothing, but I think I’ll ring the FOS on Monday.
Helen
Wits71 says
I’ve just checked the Pounds 2 Pocket account statements. They are exactly the same with #### instead of dates. The interest I paid on them is around £550.
£406, including the 8%, seems a very low offer therefore. I took out loans with Lendjng Stream around the same time. Checked them and they were 2012/13, so under the 6 year mark.
Wits71 says
The interest I paid to QQ was over £2,000. Pounds 2 Pocket over £550.
They are offering me £300 for both. With the 8% and tax deduction this comes to £406.
Seeing it in print makes me shudder. I think I have to reject their offer and pursue with FOS.
James says
Hi, I sent quick quid an email in 2016 claiming they had pressured me into settling early when I was facing difficulty paying, they responded to that complaint with an affordability complaint answer i.e. they said they were affordable etc. I had over 30 loans with them and my complaint was about my final loan settlement only.
Also the final response in 2016 didn’t say anything about escalating to the FOS if I wasn’t satisfied.
I raised an affordability complaint in June this year about all loans and they investigated and rejected saying they were affordable. I sent to FOS in July, today the FOS have said quick quid have objected and the FOS cant progress my claim as I received my final response back in 2016.
Surely if they didn’t mention about my FOS right I can still progress it now, also in their final response in July this year they didn’t mention about the previous final response and said in the letter i could escalate this to the FOS,
Where do I stand?
Sara (Debt Camel) says
What happened to the 2016 complaint? Did they offer a settlement?
James says
They didn’t really address the essence of my complaint about being pressurised into settling when I couldn’t afford it. They just gave a credit check number and said the loans were affordable, no settlement offered and as said before it didn’t mention about FOS right.
Sara (Debt Camel) says
ok that’s good – if you had accepted an offer it would be harder. Just tell the FOS what happened, that you were only complaining about the last loan in 2016 because you had no idea what an affordability complaint was and that they never told you you had the right to take your complaint to the FOS then.
Ross says
I’m starting to get a little annoyed at my complaint to Pounds to Pocket. The final assessment was issued to them by the adjudicator telling them to refund me 12 out if 15 loans. In the final assessment it stated that the company failed to supply them details when requested BUT now the assessment has been issued they are complaining about how all loans after 2015 were following the FCA guidelines. So this has started another investigation into my complaint and it’s being dragged on and on. Before they started a counter argument they offered me a refund of 2 loans and nothing more (which I turned down) even the adjudicator said it wasn’t fair. Are they trying to stall me out to except a poor offer? Does this normally happen? This has been going on for months, I thought it was almost over but it’s just started to again!
Sara (Debt Camel) says
So this is still with the adjudicator? It shouldn’t be much longer now, let us know what happens.
Frank says
Hi – I have had three cases open since January 2018 which were all denials and have been with the FOS for over 5 months. Yesterday I found out that not one of them has been assigned to an adjudicator yet!! So the files haven’t even been looked at :(
One of the claims is Wonga so I will probably never see a penny from them – This makes me worry that, as this process is taking so long, the other two might go bust before the FOS even get started with my claims. My timing has always been off!
Is this timeframe normal, or is 5 months a long time for a case to be sitting with the FOS without being assigned an adjudicator?
FYI – interest with QQ £3,000, interest with wonga £2,000 and PDUK £1500.
Thanks.
Sara (Debt Camel) says
Timescales are getting longer. There is a random element but the 3-4 months that was standard now seems to be 4-6 months.
C says
Frank.
I’m in the same position with 3 including QQ sent in March 1St and nothing, yet bizarrely one with myjar was picked up and settled in August. FOS said it depends who the cases are allocated.
I’ve seen some who submitted in April for QQ and have been picked up.
Quite frustrating but we’re all in the same boat and at least theirs hope, something I didn’t have 9 months ago
Frank says
C, I suppose it comes down to how lucky you are then with regards to timescale. I had hoped that my cases would have at least been looked at by the FOS by now though! I imagine it will take a few months to investigate as well as they will need to write to the creditors to request data etc etc.. and I’m sure they won’t be in a hurry to respond.
Oh well, It is frustrating but as you say at least we are not the only ones. I’m not expecting to hear anything until the new year now – realistically.
C says
Frank
They should have written to the companies and got the details by now from them. Ask have they received the detail, then it’s just a wait for the adjudicator to pick it up.
All the best mate
Frank says
Oh right I didn’t know that. I assumed if an adjudicator hadn’t been assigned yet that nothing had been done at all – that’s good to know. Hopefully I will get a response within the year then..
Thank you and all the best to you too – good luck!
Chris says
Don’t give up hope, I received an offer from quickquid yesterday, I’d forgotten about it, was last April I’d last spoke to them
Jojo says
Hi has anyone had dealings with Quickquid they made an offer through FOS which I accepted 5weeks ago but I have not heard anything from them ?any ideas?
Sara (Debt Camel) says
Talk to your adjudicator about this.
Ross says
Have a question for everyone!
The adjudicator sent his final assessment to P2P taking my side and asking them to refund 12 out of 18 loans but P2P have fought back saying all loans after 2015 followed the FCA Guidelines so the adjudicator is looking into the complaint again. Wouldn’t this be looked at during the first assessment? Is this a normal thing for P2P to do? Thanks in advance!
Michael says
Yes I had the same email today from my adjudicator. I’d say P2P have got scared by all the claims, especially with Wonga and upon legal advice are taking this blanket position (if they pay some then their claims of checks looks weak so will likely lose more cases). Unfortunately I think it just means it’s going to be dragged out for a lot longer. I’ll highly doubt I’ll get a decision by the Ombudsmen in 2018 now despite the Adjudicator filling in my favour on most of my loans.
Happy to hear other people’s thoughts on it.
Annie says
Same here, adjudiacator ruled that loans 3-5 and 11-19 should be refunded, QQ came back and offered to a refund of 3-5 only! Sent to ombudsman 10 weeks ago and still in the queue to be picked up, think we’re in for a long wait. Only saving grace is that it will be accruing more interest if ombudsman agrees with the adjudicators decision
Sara (Debt Camel) says
Are you happy that 6-10 aren’t being refunded? If not, then tell your adjudicator that although you would have accepted the decision to settle the case, you would like the Ombudsman to consider a refund on these other loans as well.
Michael says
Hi Sara, what’s your thoughts on Quickquid refusing to refund any loans in total from 2015 onwards?
Sara (Debt Camel) says
Not printable! Wonga often did this, and routinely lost cases at the Ombudsman as a result.
Iain123 says
Just got the ball rolling this week with the initial request (can’t believe I didn’t know i qualified for money, i used them for years). They’ve got back to me asking for bank statements and payslips. This’ll be a struggle to fulfill as I can’t go back further than 7 year bank statements and I’m not sure about payslips yet. I’ve also had two emails, one about ‘Right to Access Request’ and one about ‘Portability’. Can you please explain what these are? Haven’t used them for years, but just reopened my account and there was no loan history (not surprised).
Sara (Debt Camel) says
When were your loans from QQ?
Y says
Dear Ian, I have also recently a claim with QQ. I have send bank statements with the initial claim. No payslips because who keeps payslips from 4 years ago. I got an email back that said to speed up the process, I should provide bank statements and payslips. I already sent the bank statements so I assume it’s just a automatic generated e-mail without them even looking at the initial email. I did get this email very quickly, 1 day after my claim.
I responded that the bank statements were already attached and that it also showed my income on it. I said that if they will be unreasonable in requests, I will escalate it straight away to the ombudsmen. We’ll see what they will say.
Kim says
I ignored request for bank statements and they came back to me with an offer anyway. Now off to Ombudsman
Inaspin says
The portability should contain your account statements. Just going through mine now and demon my claim is around 10k!
Lee sivell says
Well 4 weeks in to my claim with quickquid and pounds to pocket they have also asked for payslips and bank statements I have just replied saying if needed I will be willing to send them to ombudsman. I don’t know yet if I will have any the loans go back about 5 years I pointed out that at the time these loans were paid I was trying to avoid a repossession on my house and was desperate but in hindsight only made it worse. After 4 weeks I got an email saying we are still working on your complaint
Sara (Debt Camel) says
“I don’t know yet if I will have any” You should not have any difficulty getting bank statements back 5 years, even from closed accounts. The Ombudsman never asks for payslips, so you can forget about those.
Repossession worries – did you have a mortgage or were your renting? If you had a mortgage, then QQ should have seen mortgage arrears on your credit record and those should have been a big red flag that you were in trouble.
Lee sivell says
I had a mortgage at the time
mike says
Hi Sarah,
With regards to loans over 6 years old with quick quid, and the situation over the wait to be over for the FOS to eventually get permission to look at these. I am one of many in this situation and have complaint on hold with the ombudsman. My question is, how will the FOS be able to address these without the support of a credit report or bank statements? I was just curious.
Kind regards mike
Sara (Debt Camel) says
It is usually possible to get older bank statements. If you haven’t yet got these, I suggest you should ask for them now, not wait until the FOS asks for them.
Adam says
Hell all, I have had a response for QQ saying that have accepted my complaint and are going to refund me, I took out 6 loans and borrowed over £4.5k in a year n a half paid back £1k in interest, they have said they will refund me on two of my loan’s for £203… Would I be better going to FOB, I would they come back with the same answer. Didn’t know we have a 20% tax taken off the refund as well.
Thanks
John M says
Hi Adam,
This seems like a low offer so yes you should probably send this to FOS but be prepared for a wait. Also, are any of your loans over 6 years old?
All refunds are subject to 20% tax which is as per income tax regulations set by government. You can claim some back if you are a normal rate tax payer and there is a link on this website but I can’t find it at the minute to advise you how to go about this.
Sara (Debt Camel) says
how to get some tax back https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Sara (Debt Camel) says
As John M says that looks like one of QQ’s very poor offers! People often get 5-10 times as much back by going to the ombudsman. One person got 30 times more…
Adam says
Cheers, that’s what I thought. The sods. I think some date back to 2012/2013 if I remember, I will have a look at the tax thing as well. Thanks again
Claire says
Would be really interested to hear anyone’s thoughts of an offer I’ve received from QuickQuid before I send to FOS.
22 loans (inc 4 over 6 years ago). Paid around £9200 interest in total.
Contractual interest and/or charges £1264.22
– Interest at 8% simple £495.36
-20% tax withholding on interest £99.07
-Amount to be paid to your account £1660.51
Sara (Debt Camel) says
Well it sounds very poor….
How much interest did you pay excluding the 4 loans over 6 years – because it may be sensible to drop those if they are a small part of your complaint.
Claire says
Around £8.5k as the first 4 loans were small.
They admit irresponsible lending on only 5 of the remaining 18 loans.
Sara (Debt Camel) says
Then I suggest you send the complaint straight to the ombudsman. It’s up to you if you want the over 6 year loans included, but it may mean that your case is MUCH slower. You could say to FOS that you are not asking for a refund on the loans over 6 years old but you would like them considered as background information when your under 6 year borrowing is assessed.
Inaspin says
Today I have received an offer of £412 😂😂😂
Lots of waffle in the email, telling me that I informed them of my hardship and they didn’t offer a loan aftervthis date. This never happened so I shall ask for proof of this.
Also told me I can’t claim for loans over 6 years old
Bamboozal says
Anyone who hasn’t referred to the FOS should take straight to court and see what happens concerning the six year rule.
Sara (Debt Camel) says
You have won a court case for this?
Bamboozal says
Regulation under the FCA (DISP 2.8) is there for a reason. I do not understand why the FOS can’t see this.
Sara (Debt Camel) says
Unless you have won a case in court and can produce evidence of this, your advice to people not to go to FOS but to go to court is so bad as to be dangerous.
DISP 2.8 has a clause which allows FOS to consider a complaint if it is brought within 3 years of someone becoming aware they had reason to complain. It is not a blanket ban on any loans over 6 years old.
Graeme says
Hi all
Complained to qq in June who didn’t uphold the complaint but having sent it to the FOS they have now agreed with their findings and awarded a settlement which I have accepted today.
Anyone else had similar experience as I wouldn’t mind seeing what kind of timescales are involved for payout.
Thanks to Sara for the site. Life changer
Chris says
Hi Graeme
Great news for you there.
Unfortunately I am 4 days I til my case can be referred to the FoS.
What were the reasons why QQ initially rejected your complaint if you don’t mind me asking?
Thanks
paula says
Hi,
Thats a good time scale, i sent mine to QQ in May and rejected sent to FOS in July and not heard a thing…
but silly me used [a Claims company]
I have 8 loans from QQ under 6 years so hope i hear soon. Normally payouts are very quick
Dab says
Mine is pretty similar I complained to qq beginning of June sent to fos in July and claim picked up by them in August. I had 12 loans adjudicator has gone in my favour from loans 5/12 and has given qq until 8th October to respond. Did it take long for qq to respond with an offer on your claim
Louise says
My QQ complaint is taking ages….is there anything I can do?
This is my timeline:
11/08/2017- Complaint raised with QQ
26/09/2017- Low offer received from QQ- rejected advised submitting to FOS
27/09/2017- Submitted complaint to FOS
23/10/2017- After a call from adjudicator- Sent bank statements & Credit files along with all comms with QQ to FOS- advised to disregard loans over 6 years, only a couple and they advised it would take longer to investigate
03/04/2018- Adjudicator upholds complaint and cc’s me into letter to QQ
19/04/2018- QQ disagree with adjudicator- complaint gets referred to ombudsman- at the time I’m advised can take 3-6 months
I’ve e-mailed a few times since for an update but just get advised that it’s currently waiting review by an ombudsman and they can’t give me a timeframe.
Is there anything I can do to speed things up or is it just a waiting game? Has anyone had similar timeframes/ experiences?
Sara (Debt Camel) says
That is slow but as you say it’s a waiting game. the only good news is that you will be getting at least 4% more interest being added because of this delay.
Louise says
Thank you- how does the over 6 years work though. I’ve told them to disregard them but the longer it takes the more they are disregarding- if that makes sense. When I initially told them to disregard the over 6 years there was only a couple but each month this takes the more loans are over 6 months, will they still be included?
QQ original offer was £3,600 so will definitely be worthwhile wait….just annoying it’s taking so long!
Sara (Debt Camel) says
The relevant date for the 6 year test is the date you sent it to the Ombudsamn, so you don’t need to worry that other loans are now drifting over the 6 year mark.
Louise says
That’s good to know, thank you.
Louise says
Still waiting for ombudsman to be assigned to my case. Is there any updates on backlogs with FOS or timeframes?
Louise says
So I’ve had an e-mail from the ombudsman today-
I am the ombudsman who is reviewing your complaint and I’ve made my decision, which is to uphold all of the loans I’m considering – this excludes the first two which you have withdrawn and the loans Quick Quid is offering to refund anyway.
The decision should be sent out from our admin team later today – it’s a provisional decision which means you, and the lender, have time to comment on it before I make my final decision.
I’m hoping this means it’s moving again. Do you know what happens after this? How long QQ have to respond?
Thanks again!
Bamboozal says
Sara
Regarding (DISP 2.8) I totally respect and understand your comments but qq seem to be completely ignorant of that fact.
Bamboozal says
Yes yes yes
Looks like my previous comments may have hurried things along.
henry says
Hi , I recently put a claim in with quick quid , over a year in a half I had 8 payday loans and borrowed in total £2850 and paid back £4497.5 that means I paid £1647.5 I recently received an offer from quick quid and wondering if I should accept it.
they advised me that they look at affordability creditworthiness, dependency , hardship
dependency – they said I wasn’t dependant as the amount I kept borrowing wasn’t more or equal
hardship – there records indicated that I notified them I was struggling if I did they would have put me in hardship status
affordability creditworthiness- this part didn’t make sense
they said complaint upheld and they Offred me £863.02 a breakdown of this is
contractual interested/or charges £650
interest at 8% simple £266.28
20% tax withholding on interest £53.26
amount to be paid into account £863.02
should I accept this is this fair ? can someone please help as I don’t know if it is or not
that
Sara (Debt Camel) says
Hi Henry,
It’s best to ignore all the figures apart from the contractual interest & charges line – so £650.
That compares to the amount you paid which was £1647.
Now most people won’t get a “full” refund for every loan. So If they were offering to refund £1200-1400 that would be pretty good.
And if they had offered £300 that would be very bad.
So your offer isn’t dreadful but it’s not good either.
Your 8 loans over 18 months – were any of these loans rolled/deferred? Or were there quite a few months when you didn’t borrow?
Henry says
Hi Sara
Thank you for your reply no non were rolled or defered, i was stupid and accepted the offer before getting advice however I have another ongoing compliant with payday UK and express ect for double the amount so this give me an idea what I should expect back from them and if i don’t get I good offer I can take it further
Sara (Debt Camel) says
if you only borrowed for 8 out of 18 months, it wasn’t a bad offer!
Henry says
Hi sara
With qq it was 8 loans out of 18 month so it was prob fair what they offered , however with payday UK express and another one of the sister companies I was borrowing 16 months out the 18 months multiple time borrowing off one to clear the other ect , didn’t realise until I came on to your helpfull website that they are the one company , interest I paid intotal was about 2900 so am hoping for 2000 at least back , if not will take it up with the fo, surely the fo will agree that the same company under diffrent names knew I had a borrowing problem and grant at least 2000 back
Thank you again though you have helped a lot … i at least owe you guys a drink
C says
Morning Sara.
What’s the position of Quick Quid now do you think, not wanting to scare monger, but are they still financially viable to refund (estimated c.1500) complaints, plus more in the pipeline.
Thinking of the others that have gone under and now QQ being such a big player in the market, they will get hit the hardest (great in my opinion), but thinking how long can it refund for.
What’s your thoughts?
Thanks
C
C says
Just seen this actually, looks promising from their parent company being so profitable.
https://www.theguardian.com/money/2018/sep/12/casheuronet-uk-payday-lender-faces-multimillion-pound-bill
Chris says
Morning all
Wondered if anyone else has had issues logging into QQ? I have a GDPR response to which they’ve advised me to log in in order to view it… Tried all the usual – deleting history/cookies/cache etc etc.
Thanks
Jason says
Yes, they are at it. Just reply and say it’s part of GDPR rules that’s in a readable format and give them 72 hours. If not report them to the information commissioner office. Just a delaying tactic, they are awful
paula says
i got company to do my refund case and it seems slow and i have to ask them for any update.
its gone to fos after QQ rejected claim back in June. I have had no update on this since. All loans are under 6 years.
Can i conctact FOS myself to check my claim.
Sara (Debt Camel) says
Well you could, but that isn’t actually unusually slow. Have you passed on a copy of your credit report and bank statements to FOS or to the claims company to send to FOS?
Paula says
My credit file i sent.
Chris says
Ok so, I apologise for the hugely long email but I’d like to gather everyone elses thoughts on QQ’s response which I feel is a bit of an insult.
Customer Summary
Number of Loans 16
# payday 14
# OEC 1
# P2P 1
Number of Loans > 6 Years 12
CONTINGENT FINAL RESPONSE
I’ve investigated your complaint and would like to bring your attention to the following points:
Under the Financial Conduct Authority’s rules, complaints cannot be made where they concern an event that occurred more than six years ago. Of course, we will still investigate your allegations as they pertain to any loans you have received in the last six years.
With regard to the six year rule, [12 loans] were funded more than six years before the customer complained, therefore, any complaint regarding these loans should not be considered.
With regard to the three year rule in relation to being reasonably aware, it does not apply in this case because:
There has been widespread media coverage since the financial crisis in 2008 which has made it very clear that it is wrong for financial organisations to lend irresponsibly or to people who cannot afford it. Said media and press coverage includes 2013 parliamentary findings; hefty fines imposed on lenders such as Wonga; the FCA’s findings after completion of our own Section 166 review; the regulatory rule changes in 2014 which received press coverage; etc. C ought to have been reasonably aware that companies were not permitted to lend irresponsibly or in defiance of regulatory requirements.
The loans were designed to be very short-term. The customer was required to pay via monthly installments, and therefore, if the lending was unaffordable at the point of sale, we would have expected C to recognise this very quickly. Even if a customer did not realise their complaint at the time of inception of the loan, they certainly should have realised it sometime before now.
We are mindful the ombudsman service may take the view that the customer should have been reasonably aware of this complaint during the term of the agreement, which is in line with the previous FOS judgements we have reviewed.
I understand you may be disappointed but hope this explanation explains why we have taken this position.
Chris says
AFFORDABILITY & CREDIT WORTHINESS
I have reviewed your file and can confirm that, in line with our internal process, at the time of each application, we conducted our standard credit assessment, which included pulling your credit report. As part of our assessment, we analyse your current financial commitments, insolvency records, delinquency records, County Court judgements, credit enquiries and other credit accounts currently open.
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.
chris says
Blah blah blah……..
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 would like to offer to waive £32.81 which equates to the late fee charged plus 8% statutory interest on loan 5535342.
“Please note that we are currently in communication with the third party in possession of your loan(s). Further to that, we are in the process of confirming if any repayments were received by them. In the event that the information received is different than what we currently hold on your account, your redress offer would be amended as necessary.”
OFFER BREAKDOWN
Please find the breakdown of the offer below:
-Contractual interest and/or charges £24
– Interest at 8% simple £11.01
-20% tax withholding on interest £2.2
-Amount applied to your outstanding balance £32.81
Sara (Debt Camel) says
£32 – bet that took your breath away.
The last loan – who was it sold to, has it been repaid with them and if not, have you informed them of the complaint?
“In the event that the information received is different than what we currently hold on your account, your redress offer would be amended as necessary.” I guess you could wait and see what comes from this, but it doesn’t sound likely to bring the offer up to the level of OK, so you could just send it to FOS now.
Sara (Debt Camel) says
the over 6 year/3 year part is interesting – it is, in my opinion, a very misleading response to send a customer after the Ombudsman’s recently published decisions. I think this is worth going back to them and complaining about and also saying that you will be informing the FCA of this as well as FOS.
I’ll write a blog with more detail tomorrow. EDIT – here it is: https://debtcamel.co.uk/quickquid-misleading-6-year-loans/
Myles says
Does anyone know how close to the 8 week mark QQ tend to reply? My 8 weeks is up next week and just wondering is anyone else has had any luck with their outcome reply as of yet?
Amanda says
Hello Sara
I would like to say a massive thank you for this website, I was able to file a complaint against CashEuroNet Uk on the grounds of being affordable at the time the loan was taken out. they originally rejected my complaint which i then sent to the Ombudsman. The adjudicator then decided in my favor as he decided that all the payday loans that was taken out were affordable . I am now waiting on CashEuroNet Uk to get in touch about my refund.
I am super happy with the results and without the the help of this page i would have had a CCJ registered against me.
Stick in there guys, it will be worth it in the end.
Thanks again
paula says
Hi amanda,
How long did you have to wait from QQ’s rejection of complaint.
thanks
Amanda says
I sent the complaint to the Ombudsman on the 03/08/2018, this was then picked up by the adjudicator on the 18/09/2018 and was resolved on the 12/10/2018 when the company agreed with the adjudicator.
paula says
Well done thats good news for you.
Iv been silly and used a company and iv heard nothing…sent to ombudsman 26 July 2018 but told by [claims firm] that it be a year before i hear anything…and all lonas under 6 years ahh well ill wait patiently haha
Andy says
Hi QQ seem to be sending all of there adjudicator decisions to the ombudsman at the moment. My adjudicator decision was 4 weeks ago QQ came back with a stupid offer which I rejected now waiting for ombudsman to pick it up told I could be in for a long wait . Well done for winning.
Myles says
How long did it take for QQ to come back to you with their original offer before you complained to the FCO?