quick quick payday loan **

[nwbolton]

Hi,

 

I took out a quick quid loan on the 16th Dec £450, just to help with presents for the children really! I know it was very silly but at the time it just seemed like quick money and no questions asked.!!

 

I am paying the price now though literally.... I have had to roll this over for jan, feb and march, each month I have had to pay the £112 interest as I just couldnt afford to pay the full amount of £560 back in one go. Unfortunatly finances havent gotten any better since last month infact worse with getting hit with a bill from the tax credits!!

 

So this month I am only going to be able to afford the £112 again which leaves me not one bit better off as that will have totaled £448 in payments but I will still owe £560....I just cant afford to keep losing the £112 everymonth but would be crippled if I tried to pay the £560, I have tried to email quick quid lots of times, (I prefer to email rather than ring due to getting no sense at all from the person on the other side) to set up some sort of arrangements as I am really struggling but they just keep saying payment will be taken in the usual way or something along those lines. I am just so worried about how to clear this!

 

I have noticed that a few people on here have had problems communicating with QQ and that they just cancelled there debit cards however when I spoke to my bank lloyds tsb and mentioned my problem they just said that even if I were to cancel my debit card QQ qould still be able to take money from me. is this the case?

 

Any help is really appriciated.

 

Thank you

[dansnowdon]

Hi, i am in the same situation with QQ. My loan was £400 and interest was £80, i defaulted on the 16th March and they added £12 default charges. so the total was £492, i have arranged a plan for 3 months - you will see on these forums that QQ are quite resonable at setting up a 3 month plan.

 

Can you do this? I didnt pay anything in March and my payment plan will start in April for 3 months @ £164

 

If your due to repay £112 on the 30th (for example) i would not pay anything and get a new card, or account with another bank. Wait about 2 weeks (they will try and contact you in this time) and then arrange the pay the balance £562 + £12 default charge £574 over 3 months @ £191. If you can afford this, then i think they will agree to this. They do not want this to go to court, and in my experience - QQ are good for not adding on loads of interest and accecpting plans. When you email them - tell them you have already paid back alot of interest for this one loan

 

good luck mate

[nwbolton]

Hi dansnoedon,

 

Thanks for the reply...

 

The latest email I have got from qq last night says... "our records show you must make 1 repayment as follows: £562.50 due on the 15th April. if the funds will not be available and new repayment details are not provided to us prior, your loan will go into default status, a return fee and late fee will be assessed as well. this account would then be transfered to our collections department."

 

Can you confirm that cancelling your debit card stopped them from taking any funds??

 

It just seems with my bank saying it doesnt matter if you cancel or not is worrying me a little.

 

Thanks again!

[dansnowdon]

To be honest mate, im not sure about QQ, i personally dont think QQ would - or could do that. i have opened a new account with a different bank. Can you do this?

 

On my old bank account, i had a internet savings account linked to my account that i could transfer money in to. So when i got paid (checked around 2 AM) i just moved my money into that account.

 

Sorry i couldnt be more help, there are ppl on here that will be able to give you alot better advice. All i can say is that QQ are likely to accecpt a month plan (if you can afford it). They have had enough money from you already.

 

Im in the same situation as you,but owe money to more companies - i wouldnt worry about it mate...i dont anymore. These ppl cant have what you dont have.

[nwbolton]

You have given great advice,

 

I have cancelled the debit card, I do have an oline saving acc which I can move money to straight away.... I will be doing this to be on the safe side.

 

I have applied for a new bank acc I am just not sure with the bank hols etc if I will have it up and running and wages going into it in time before they try to take the funds.

 

But I will make sure my current acc is clear of any money when they try to take it via the online saver. Hopefully I want incure any bank charges for them doing this either! if they can due to the card being cancelled..... I am sure they will give it ago!

 

Thanks again!!

[PGH7447]

if you had a direct debit set up with these sharks and you cancelled it then by rights the bank should not honour their request, and if they did you then complain to the bank.

 

that is the trouble with these types of loans you have to give them your bank details.

[nwbolton]

Hi,

 

They have bank details intially they were taking from my debit card, but now I have cancelled this I am hoping they can no longer try and take money from it.

 

I have been keeping an eye on my dd lists to see if they had added one to my account but they havent at the moment. I suppose this is something they will try if they cant take the money via debit card.

 

Such a nightmere...... I know its my fault for taking in the first place, but I am honestly not trying to avoid paying just need to pay it in a more suitable mannor, its not like they have never had a penny from me.....

 

I would also like to say I am so glad I found this site or it would have been another month at paying only the £112 interest!

[nwbolton]

Well today was d-day for the loan coming out, I had cancelled the debit card and told the bank not to alow any dd's to be set up without my permission which they have done.

 

So nothing has been taken from my account, I am not sure if they have tried but today was payback day so I am sure they would have been trying unless they try in the afternoon not quiet sure with qq being an american firm when they do their debits.

 

Anyway so far so good...... I will just await the emails and calls now, hopefully I can get this paid with their 3 month plans as it is £560 with interest.

[GENIE000]

It should be ok, I defaulted on a loan totalling £960 including interest last month - all they have done is add a £12 default charge and now we have had a few emails trying to arrange a payment plan. If you contact them first offering a suitable plan then it should be ok, I started at 6 months and they said 4 was the longest they would accept. Ive not had any calls from QQ so its not anywhere near what I was ecpecting, im quite surprised !