Payments - UPDATE - 25 April 2022 Administrators have started sending emails to everyone with an upheld claim telling them what they will be paid. "The Joint Administrators are now in a position to declare a first and final dividend of 53.5p in the £" The average claim value is c £1,700. Someone with that claim value will get a payout of about £910. The payout details are given in the … [Read more...]
Articles about QuickQuid
Quickquid was Britain's biggest payday lender in 2019, owned by Enova, an American company. In 2018 the Financial Ombudsman announced it had more complaints about QuickQuid than any other consumer credit firm.
It went into administration in October 2019.
In 2022 it paid out 53p in the £ to customers whose claims were upheld.
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 … [Read more...]
New statistics for July-December 2018 from the Financial Ombudsman (FOS) show how payday loan complaints have jumped in the second half of 2018 and give details for how many complaints the larger lenders had. Almost all these cases are affordability complaints where a customer was given payday loans without proper affordability checks and is asking for a refund of interest paid. The … [Read more...]
QuickQuid has told some customers that it plans to delete loan data over seven years old with effect from today, 15th April 2019. It says this is to comply with its legal obligations. QuickQuid has sent emails to the affected customers asking if they would like a copy of their data before it is deleted. It seems to me that this new policy is not in the customers' interest because it will … [Read more...]
In 2018 and early 2019 QuickQuid was been refusing to consider any affordability complaints about loans made after March 2015. First it rejects a refund on any of these recent loans when a customer complains. Here is an example of how QuickQuid even classifies these loans separately in its reply to a complaint: Then, when a customer takes the case to the Financial Ombudsman (FOS), … [Read more...]
Mr X has received a reply from QuickQuid saying why it will not consider an affordability refund on payday loans that are more than six years old. This part of QuickQuid's reply isn't related to the details of Mr X's case. It looks like a standard response QuickQuid is sending everyone whose complaints include these older loans. I often see pretty poor replies from payday lenders to people … [Read more...]