Quick Quid - terrible problems!!!

[Bluestar_Galaxy]

haha what a joke, these guys screwed me over, just ignore there letters eventually they pass you to lowell who will NEVER take you to court because they wont make any money!! only settle the amount in full if its a massive reduction like 50%!!

[Clarkeyuk]

I ow £625 to quick quid, I have lost my job last month and I am really scared I carnt sleep or eat proper it is making me a wreck, and after reading this thread I feel for the worse and all I can afford is about £50 a month to QQ. I may cancel my bank account and open another so they carnt raid me, is it even worth sending them a email with a payment plan?? Or will I just get a straight NO as they are horrible people ;( thanks

[Bluestar_Galaxy]

deffo worth emailing a payment plan, if they dont except it just tell them tuff luck....they wont take you to court, trust me on that, and if they do, you have shown that you are attempting to deal with the problem, deffo cancell your account tho so they cant take unauthorised payments......but also check they are licensed to take ur money as well...

[sillygirl1]

Email them and let them know the problem, if you dont it could come back to bite you later on.

 

There is no point in checking to see if they are licenced to take your money - they ARE.... you have given them the card details and signed an agreement, the above post is a bit of a red herring in that.

 

QQ MAY use somebody else to take you to court, but as they are not based in the UK they would have a problem - it is also usual for PDL companies to pass to so called 'bailiff enforcement' companies who CANNOT use bailiff powers.

 

This is now a low priority debt. How much did you borrow, not counting fees, charges etc etc etc that is the amount you owe plus interest.

 

Getting another bank account is the first step to you taking control of the situation - well done for taking that step.

 

You also MUST stop worrying about what MIGHT happen and worry about what IS happening.... that way you can deal with things in a more straightforward logical manner.

[Clarkeyuk]

Yes I borrowed £500 I have already payed £125 back an I hav to pay £625 t the end of this month, I have sent a email to them saying I have lost my job and cannot make the full repayments, they mailed me back and basically said I h e 4 extensions I can use to pay £125 then after that the full sun of £625 must be payed and they do not offer payment plans!! I have no job now so how could I pay £125 each month then still ow the £625, bit stupid ain't it?? Any ideas?

[sillygirl1]

Tell them you HAVE decided to pay them x amount over x period of time and that it is the ONLY way forward as you do not want to extend something and make yourself more in debt than you need to.

 

Tell them you will complain (do it anyway) to the OFT and Trading Standards about them not accepting a reasonable offer of repayment.

 

£125 interest is very steep on £500 anyway, works out at 25% per £100 borrowed over a month at its most basic level.

 

Main them again and say if they do not offer a repayment plan you will have to put them into a debt management plan and then they will get £1 a month until things improve.

 

Stick to your point and they will eventually cave in.

[FearfulFuture]

After reading these posts today, I have emailed QQ as I am due to default on a payment with them. I too borrowed from them and my circumstances changed. They informed me I could pay an amount over three Monte. Unfortunately my circumstances have changed further and I telephoned them to inform them. They stated that if I paid 50 that day, they would give me a week to find the money for my next payment. I informed them that I do not have the means to afford that plan and it would help if the payments could be spread over a larger number of months. They refused and asked me if I could borrow the money from elsewhere or a family member or friend. I stated no. I've now sent them an I.e form, as given I am trying to prove I can't afford the repayments that they are asking, I thought even though they do not have a right to ask for one and see one, I am trying to demonstrate my willingness to pay. Please let me know how you get on, and I will update too.

 

Can I also take this opportunity to thank everyone that helps on here and gives some advice. Debt can and often is, the lonliest thing in the world, and sometimes you don't want to tell friends and family but everyone on here has really helped me get perspective without feeling I'm being judged. Huge thanks. FF x

[renegadeimp]

Just remember, NEVER, EVER communicate with them by telephone. You're just making your situation worse. Letter by recorded delivery or email ONLY.

[sillygirl1]

Asking you to borrow from friends and relatives is against the OFT guidelines in debt collecting - so put in a complaint to the OFT and Trading Standards.

 

Stay off the phone to them, email them and keep all emails in a separate folder for evidence.

[FearfulFuture]

So, today I have my reply from QQ.

 

After initially offering them 49.17 per month the following email was received.

 

 

 

QuickQuid was sorry to hear of your financial struggles.

In response to your recent payment queries, you may send your voluntary payment to;

QuickQuid Collections

PO Box 47

Sheffield

S98 1DR

However, QuickQuid cannot accept your offer to repay at £49,17 a month on this £670.00 payday loan that was due in full back on 08/02/2012 , as an officially approved arrangement.

QuickQuid will accept payments of £57,50 a month for 12 months (provided payments are DDI or Debit Card Authorised). Any repayment offer less than the one offered would not pay QuickQuid back in an acceptable timely manner.

Please contact QuickQuid if this offer is acceptable to yourself, or if you have further query.

So... I replied.

Dear Sirs,

 

The amount that the original loan was for was £650. The original repayment agreement was two payments of £252.50 and one payment of £151.00 and interest was frozen by a representative. I have already made a payment on Saturday 31st March of £57.00. There is £593.00 outstanding.

 

As per your proposal below, 12 monthly payments of £57.50 would equate to a total of £690.00. £100 more than the amount currently outstanding.

 

Obviously I would like to agree a way forward with you, however I am not prepared to accept the proposed monthly payment plan as detailed below due to the increase you have stipulated amounting to £100.

 

I am prepared to offer an alternative of £50.00 for 11 months and a final payment of £43.00. Please confirm that this is agreeable and provide me with your paypal details so that I can make the appropriate payments.

I haven't received a response as yet. However, I am hoping that some kind of compromise can be met. Will keep you all informed.

FF x

[renegadeimp]

You should have added that it was a FINAL OFFER and non acceptance would have meant the account was then considered in dispute, and a full complaint would have been made to the OFT and FOS.( Put those complaints in anyway). They have NO right to demand a certain repayment level. All repayment plans have to be mutually agreed. Especially those that are being disputed and have erroneous charges added to them.

 

If they try to restate what they previously said, ask for a FULL breakdown of the entire debt and restate your repayment proposals, adding that your offer is now a FINAL offer.

[asmilecostsnothing]

They are as thick as bricks, keep at them get in touch with I think it's their media dept and cause a big stink Why should they not charge some and then others - totally 1000% wrong you will find other threads on here where this has even been claimed along with stories of how QQ let someone of paying one month and others were charges have been wiped all very nice - use it. remember whats good for one goose should be good for the gander.

[FearfulFuture]

Does anyone have their media department contact details? I don't want to telephone them, but will be emailing them.

[asmilecostsnothing]

Think it is [email protected] personally used it myself x

[renegadeimp]

I wouldnt bother. Send a complaint to their main email or head office, and send a copy to the FOS and OFT. Then contact stella creasy MP who has direct links with the national media.

[FearfulFuture]

I wouldnt bother. Send a complaint to their main email or head office, and send a copy to the FOS and OFT. Then contact stella creasy MP who has direct links with the national media.

 

Ok, then I shall need Stella's contact details? Can anyone assist?

[asmilecostsnothing]

Oh dear, I've not got much respect for any of those! op - you'll be waiting a long, long timeMy local MP couldn't be bothered and I never heard from Stella CreasyPlease don't get me started on jounalists .. who distort stories for their own personal gain was told they really was not interested unless my account had been raided Only a week ago I took a call from the FOS who could only offer tea, sympathy and sorry.

some 4 months later

[renegadeimp]

Stella creasy is good when she gets to your email. remember, she is VERY busy. So you need to make sure your complaint is filed with the OFT and FOS as well. This is basically to cover your own back. The OFT WILL investigate your case, but you need to provide as much information as possible. Theres a reason why we say to make sure you get those complaints in fast ya know

 

Like i said, even if nothing comes of it, your complaints are in there and you can consider them to be under investigation should it go to a judge. Very rarely will a County court judge rule over the OFT/FOS in a civil matter.

[FearfulFuture]

So, QQ have called me and I informed them that I only wanted to deal with them via email. They then asked whether they could speak to me to explain their payment offer, and I stated that they could but I'm not agreeing to anything unless they email me, and only then I will agree what I can afford. They stated they need to hang up because they are "reviewing my file and payment history" and getting back to me. I am so glad I found this site because they were hell bent on me paying 690.00 and I don't owe that much! We'll see what they come back with.

[FearfulFuture]

So, QQ have called me and I informed them that I only wanted to deal with them via email. They then asked whether they could speak to me to explain their payment offer, and I stated that they could but I'm not agreeing to anything unless they email me, and only then I will agree what I can afford. They stated they need to hang up because they are "reviewing my file and payment history" and getting back to me. I am so glad I found this site because they were hell bent on me paying 690.00 and I don't owe that much! We'll see what they come back with.

 

So they have now emailed me, with a copy of the credit agreement. What I don't understand is their costs. Can someone have a look at this please and let me know how much they think I actually owe them?!

 

We spoke a few moments ago, I wanted to forward you a copy of your signed loan agreement to further review. After carefully reviewing your account details there are two 12.00GBP late fees assessed on your account from returned broken promise payment arrangements in which as a courtesy on the account will remove late fee. The balance owed excluding the late fees is 666.00GBP owed on the account. I can offer you a 12-month repayment plan of 55.50GBP that is the longest payment arrangement I can offer you. I can also offer you a one- time settlement amount of 532.80 to settle the balance. The offers are valid until 30/April/2012 after offer expires the balance will be due in full

 

Signed Contract

 

STANDARD EUROPEAN CONSUMER CREDIT INFORMATION

 

1. Contract Details

 

CreditorCashEuroNet UK, LLCAddress483 Green Lanes

London, N13 4BSTelephone Number0808 234 4558Websitewww.QuickQuid.co.ukCredit IntermediaryGB Consumer Finance LtdAddressSt Johns Chambers, Love Street

 

Chester, CH1 1QNTelephone NumberWebsite

2. Key Features of the Credit Product

 

The type of creditShort-Term Cash AdvanceThe total amount of credit. This means the amount of credit to be provided under the proposed credit agreement or the credit limit.£550.00How and when the credit would be provided.The Creditor will provide the Debtor with the sum of £550.00 which is to be credited to the Debtor's designated account on a date to be agreed.The duration of the credit agreement28 daysRepaymentsYou must make 1 repayment as follows:

£638.00 due on 08 February 2012 Your repayments will pay off what you owe in the following order.Repayments will be applied first to late fees, then to finance charges and then to principal.The total amount you will have to repay. This means the amount you have borrowed plus interest and other costs.You must repay £726.00 which is the sum of the total amount of credit (£550.00) and the total cost for credit, which is £176.00.

3. Costs of the Credit

 

The rate of interest which applies to the credit agreementYour finance charge will be calculated as a flat fee equal to 16.00% of the total amount of credit and at a fixed of 208.57% per annum.Annual Percentage Rate (APR)592.24%Related CostsCosts in the case of late payments.There is no additional interest charged on unpaid balances after the due date.

You may be charged £12.00 each time you fail to make a payment as scheduled on a Payment Date ("Late Fee")Consequences of missing paymentsMissed payments will be reported to a credit reporting agency if you do not make good on the obligation within the time allowed by law.

Unfavourable credit reports may make obtaining credit more difficult in the future.

Your account may be placed with a collections agency or sold to a 3rd party collections company who may take any collections actions allowed by law.

 

 

What I don't understand is, they say that one repayment of £638 is the original amount of the loan & interest of which a payment is due. Then they go on to say that the total cost is £726.00 which is the original loan amount & 2x interest. When I entered into my original payment plan, the cost was £656.00 of which I have already paid £57.00. No late fees had been added and in fact i had not been notified of them (which is why QQ lady is taking them off my account). Now they're saying that I owe them £666.00 (a completely different amount to the £690 originally quoted!! As you can see they're offering me a resettlement figure of £532.80. After taking out the Loan in November, I have paid the following.

 

December - £110 Interest Payment Only

January - Defaulted - INTEREST AND AMOUNT FROZEN

February - Set up repayment plan and paid token £25

March - Informed could not stick to original 3 month agreement and paid £57

 

They are still not agreeing to my alternative plan which is all I can afford. And I don't know where all these mental figures are coming from?!

 

any Help greatly appreciated FFx

[renegadeimp]

Theyre unlawful. She knows it too, so she's deleting them off the account. I'd have a guess at the "finance charge" being the same too. Along with these "non payment" fees.

 

They are obligated under OFT guidance regulation to come to a mutual agreement regarding repayment plans for people in financial difficulty. The debt is classed as low priority under UK law. They also cannot demand you make repayments that leave you in hardship or unable to meet day to day expenses or other High Priority debts such as electric, rent, mortgage etc . Even if that means you can only offer then £1 a month until you are in better financial circumstances. They might not like it, but the laws the law. Perhaps you should remind them of that.

 

If it ever goes to a collections agency, there are a hundreds ways of dealing with them for lower repayments or even getting the debt sent right pack to Quick quid or you could even force them into court to explain themselves..

 

First thing though, get the letter back to them about your original repayment offer. Remember, do not ask, DEMAND it. If you have proof that you are in financial difficulty and you cant make the repayments, then you are in good standing. If they say no, send the same letter over and over till they agree or you get a different response.

 

Remember too. At all times, NEVER call them by phone or answer them. ALWAYS deal in written format in case you have to form a legal defense.