Hi BRIGADIER, I think i get it ... it's not a credit account until I haven't paid a bill, and thus they are giving me credit!, at which point it might end up on my credit report. Does this apply to, say, EDF energy for instance?! Or would they report the account monthly as you suggest (I'm assuming this means that it will end up on my report regardless)? Thanks for your detailed explanation :0) Cheers, James.

Hi There, I hope you are all well! As the title suggests, I'm just fishing for information about exactly what happens when one sets up a direct debit ... is it only if i miss a payment that the address would be passed to the credit agency? Thanks in advance, James.

Hi, First post. Yey. (and nay at the same time!) I got a £250 2 period payday loan from quickquid on 15/11. First payment £62.50 due on 25/11. £312.50 due on 09/12. I paid £150 today. I then had the following converstaion with one of their chat assistants, and just wanted to check they weren't fibbing?! ================= Hello! Thank you for choosing QuickQuid, the UK’s trusted online lender. A representative will respond to you shortly. You are now chatting with Valarie. James: what is the outstanding balance if i paid it today? Valarie: Hi James: hi Valarie: Thank you for contacting QuickQuid, the home of Free 1-Hour Funding, including weekends. Valarie: Thank you for providing that information. Just a moment while I review your account, please. James: hello? Valarie: Mr. X hi and one more moment please. James: hello? Valarie: I do apologize about the delay and one more moment please. Valarie: Mr. X the amount that you will pay today will be GBP 147.06 and with your permission I can process your current loan payment now? James: how did you calculate that figure? Valarie: One moment please. Valarie: Mr. X I do apologize about this and that information cannot be disclosed and with your permission I can process your current loan payment now? James: You can't tell a customer how you calculated a repayment amount? That would give me legal grounds to refuse payment. James: How did you calculate 147.06? Valarie: Mr. X one moment please. James: I'm not saying it is wrong, i would just like to exercise my right to ask! Valarie: Mr. X please keep in mind that the full balance before the partial payment you made today was at £297.06, however deducting the GBP 150. James: 147.06 Valarie: Mr. X please keep in mind that the full balance before the partial payment you made today was at £297.06, however deducting the GBP 150.00 today that will leave your balance of £147.06 and if you were to pay off on 25/11/2011 in full than the amount will be £147.06. James: so if i pay today it is £147.06, and if i pay on the 25/11 it is still £147.06? Valarie: Mr. X yes that is correct and the amount of £147.06 is the reaming principal, however after carefully reviewing your account our records indicate that you have entered into a two pay period loan. Valarie: If you leave your loan to extent than no payment will be debited on 25/11/2011, however the new balance due on 09/12/2011 will be £183.83 and this is because when entering a two pay period loan you are requires to pay two finance fees plus principal. James: ok. If i pay back early do i still have to pay the interest on the loan for the original period of the loan? James: 'interset on the loan' i menat 'fees on the principal' Valarie: For example if you were to pay off your loan today or on 25/11/2011 than you will save on paying the additional finance fee. James: ok. but the finance fee is fixed even if a loan is repaid early? Valarie: Mr. X for example if you were to pay off your loan early you will get a discount on the finance fees. James: ok, but you said earlier i have to pay 147.06 today, or on the 25th. That contradicts what you just said now. James: there appears to be no reduction in fees if i pay today? Valarie: Mr. X for paying part of your loan today of GBP 150.00 you have gotten a discount on the finance fee of GBP 15.00 and yes if pay today or on 25/11/2011 you will only pay 147.06 and this is because you have already paid off the finance fees today. Valarie: Please keep in mind that the principal will not get a discount, only the finance fees. James: ok. I understand now. thanks. ========= Cheers, James.