Quid24 debt help

antony20smith · November 13, 2011

hi i took out a loan with quid24 for 100, with a repayment of £110 , unfortunatly wasnt able to pay it on time, and within 6 days of missed due date £190 of charges had been added, they claim the charges are for letters they have sent but i have only ever recieved emails which they claim to be the letters. anyway here it a converstion log i have had with them so far. please let me know what you think , i have tried throwing a few legal quotes here and there (although i have probably got them wrong lol ) i have paid them £110.38 thet still persistant that i owe them £189.62 and dont seem to be budging no matter what i do or say, only thing they have done is offered to clear the remaining for £89.62 ( - £100 of the debt) but i still think this is unfair. i have contacted the financial ombudsman who advised me they can charge whatever they want if thats what i signed in the contract, but they have told me they have written to quid24 telling them i have lodged a compaint and they have 8 weeks to sort it... anyways enough of me going on, heres the contact between me and quid24 so far.

okz19@hotmail.co.uk |2011-10-24 20:13:05

I would like to cancel mu agreement with yourselves under the terms and conditions i have 14 days to cancel my agreement with yourselves so i would like to excercise this right, please accept this as my written confirmation as cancelment of my agreement . please contact me asap by phone on 07413610113 in regards to the matter and for full payment of the original amount borrowed , the transfer fee , and 14 days interest at 8%apr . I would like to thank you in advance for your help in regards to this matter.

Regards,

anthony smith

okz19@hotmail.co.uk support@quid24.com |2011-10-25 13:28:04

Dear Anthony,

Thank you for the email.

Please see Cancellation Rights in our Credit Agreement:

You will have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by us ("the Cancellation Period"). If you do not exercise your right to cancel within the Cancellation Period, you will not be able to cancel this agreement. You may exercise this right to cancel by giving notice in writing by sending a letter to us at Quid24 Limited, 2nd Floor, 145-157 St John Street, London, EC1V 4PY, United Kingdom or by e-mail to support@quid24.com.

As the Credit Agreement was signed on 07/10/2011 at 01:21, the Cancellation Period ended on 21st October. You sent us the notification on 24th October, so you are no longer able to cancel this Agreement under the Financial Services (Distance Marketing) Regulations 2004.

Please make sure that you have sufficient funds available and let us know when can we collect the repayment of £300.

Kind regards,

Quid24 Support

http://www.quid24.comokz19@hotmail.co.uk |2011-10-25 16:11:19

Give me an account number and sortcode to pay onto i do not have a debit card to payvwith, also i.borrowed on the 10/10/11 not 07/10/11support@quid24.com |2011-10-25 16:29:21

Dear Anthony,

Thank you for the email.

The Credit Agreement was signed when you registered with us on the 7th October. And the Cancellation Period is for 14 days, beginning with the day after the Credit Agreement was signed by us. So the Cancellation Period was 14 days starting from 8th October.

We can offer an alternative payment method only once. Please make us a bank transfer to cover your debt using the following details:

Account name: Quid24 Limited;

Account number: 23497062;

Sort code: 20-30-89;

Amount: £300;

Ref: Smith 1804

Please do not forget to add the reference. Please note that if we have not received the payment by the time we have agreed, additional charges will be added. When you have made the payment, please notify us and send us a copy of the payment.

Please let us know as soon as you have received a new card to update your details.

Thank you.

Kind regards,

Quid24 Support

http://www.quid24.comokz19@hotmail.co.uk |2011-10-25 17:25:39

I have made a payment of 110.38 the paymeny breakdown is as follows:

£100 original loan

£5.50 transfer fee ( altough all uk banks transfer instantly for free)

£4.50 original interest fee

£0.38 good will gesture 1months interest on £100 @ 8% apr

as for my debit card number you will not need this as as far as i am concered my debt to yourselves has been paid

However if you still believe i owe any outstanding balance i advise you to pursue the matter via court, as the rest of the balance you claim

to be owed is clearly laid out on the online statement as charges for reminder letters that you have not sent, and if you had i would expect them

to be printed in gold on 24c gold leaf paper as £70 for a standard piece of paper printed in black toner ink certainly would not be a justifiable cost

which would then bring us to the unfair terms and conditions act of 1997.

I thank you for your help in this matter

anthony smith.

support@quid24.com |2011-10-26 11:08:21

Dear Anthony,

Thank you for the email.

We have received your payment of £110.38, as your loan had increased up to £300, so £189.62 is currently outstanding. Please Make us another transfer of £189.62 as soon as possible, as otherwise your debt will be soon handed over to our debt collection partner and further debt collection fees will apply.

Kind regards,

Quid24 Support

http://www.quid24.comokz19@hotmail.co.uk |2011-10-26 15:21:16

Get the message you aint getting another penny stop playing stupid . support@quid24.com |2011-10-26 15:41:53

Dear Anthony,

Thank you for the email.

Please note that your loan has increased up to £300. The outstanding balance currently is £189.62, as you have only repaid £110.38 to us. Please make us another transfer of £189.62 as soon as possible, as otherwise your debt will be soon handed over to our debt collection partner and further debt collection fees will apply.

Kind regards,

Quid24 Support

http://www.quid24.comokz19@hotmail.co.uk |2011-10-27 18:01:47

May i remind you that under the unfair terms and conditions act 1997 that your terms and conditions for charging £190 for letters you have not sent is deemed an unfair charge and would also be deemed an unfair condition in a court of law. however if you wish to continue this matter and pass the accused debt to a debt collecter then i would also like to remove your right to ring me on any contact number and further contact is to be via email and post only , this right also moves with the debt so you are to inform any 3rd party you pass the matter on to that they also no longer have any right to contact me other than the methods stated. if anyone contacts me by any method other that post and email in regards to this matter they will be liable for damages in court under the communications act 2003. I would like to thank you for your yet more unhelpfulness, and hope not to hear from you in regards to this matter again.support@quid24.com |2011-10-31 12:45:02

Dear Anthony,

Thank you for the email.

You have agreed all the charges as these are stated in our credit agreement that you have read, agreed and electronically signed. Please note that these letters were sent via email.

Kind regards,

Quid24 Support

http://www.quid24.comokz19@hotmail.co.uk |2011-11-04 14:43:11

its nice to see how it took you 4 days to reply, anyway i have just been in contact with with the financial ombudsman who are going to write to yourselves in regards to the matter. firstly letters were not sent emails were, there is a difference, a letter you print and post and email you type and click a send button. and secondly the dates the emails were sent do not match the dates they should have as stated in the terms and conditions.

terms and conditions states LETTERS (not emails) would be sent after the account becomes 1, 2, 4, and 7 days over due

EMAILS (not letters) were sent on

1st reminder 17th oct - the DUE DATE (not 1 day after)

2nd reminder 18th oct - 1 day over (not 2 like stated)

3rd reminder 20th oct - 3 days over (not 4 like stated)

4th reminder 23rd oct - 6 days over ( not 7 like stated)

also it has been noted to the financial ombudsman that when i contacted you in regards to a repayment plan you refused to help until the 24th oct conveniently after you had finished charging the account with unfair and unjustified charges.

support@quid24.com |2011-11-04 15:10:22

Dear Anthony,

Thank you for the email.

Please note that it did not take 4 office opening days to reply to you as our office opening hours are Mon-Fri 8.30am-5pm. You sent us the email on Thursday evening after the office was closed and we replied to you on Monday morning. So we replied to you on the second day.

We have checked and the emails were sent out on the following dates: 1st reminder - 18th October, 2nd reminder - 19th October, 3rd reminder - 21st October and 4th reminder - 24th October. Please note that these were sent out straight after midnight when the charge was added. Reminder letters are sent out via email, not via post as emails will reach you straight away.

We can only offer repayment plans to clients whose loan has gone seriously overdue and who are seriously in debt.

Kind regards,

Quid24 Support

http://www.quid24.comokz19@hotmail.co.uk |2011-11-04 15:42:12

do you not think £300 for a £100 is not seriously overdue enough ? and why would you not think i was in serious debt, if i wasnt in debt i would of been able to obtain and overdraft from my bank or a cheaper method of borrowing?

anyway heres my solution , i can offer £10 a month on starting thursday the 10th, and can offer this every 4 weeks, providing you stop adding interest and charges, however if you find this unacceptable and still want to challenge it, then i will have no option but to let the matter continue , and once 8 weeks has passed without any resolution from yourselves, the matter will be pursued with the financial ombudsman. support@quid24.com |2011-11-04 16:10:21

Dear Anthony,

Thank you for the email.

We are willing to freeze the loan and set up a repayment plan for up to 12 months. As currently the outstanding balance is £300 and if this would be divided into 12 equal payments then every month you would have to repay £25.

Alternatively as a gesture of goodwill we can make you a settlement offer to repay £200 in one go before 23rd November 2011 (so we would waive more then half of the charges).

Please let us know which of the above two offers suits you the best and let us know of the exact date(s) when we can collect the payment(s).

Kind regards,

Quid24 Support

http://www.quid24.comsupport@quid24.com |2011-11-04 16:18:18

Dear Anthony,

Please ignore the above email.

As you have already repaid £110.38, the outstanding balance is £189.62 not £300. Please accept our apologies for the mistake.

We are willing to freeze the loan and set up a repayment plan for up to 12 months. As currently the outstanding balance is £189.62 and if this would be divided into 12 payments then you would have to make 11x £16 and 1x £13.62 payments.

Alternatively as a gesture of goodwill we can make you a settlement offer to repay £89.62 in one go before 23rd November 2011 (so we would waive more then half of the charges).

Kind regards,

Quid24 Support

www.quid24.com

as you can see i have not responded to them as i have come back to my senses and have decided i shouldnt have to pay them anything , and i retract my last email to them that i offered £10 a month , until i fully understant where i stand !

any help wil be much appreciated.

Kitten1 · November 13, 2011

All you are legally obliged to pay them is the original loan plus one months interest. As you have already paid this, I would be writing to them, recorded delivery, stating that you have paid all that is owing and you will not be paying more. I believe it is section 87 of the consumer credit act that is the relevant piece of law you need.

ivansmagic. · November 13, 2011

You have repaid your loan plus one months interest. do not pay them another penny and do not agree to their repayment plan. I personally would not contact them again and if they do contact you, just reply stating that as they have confirmed ( quote the email date and time ) you have paid £xxx which is the full amount borrowed plus one months interes and you consider the matter closed.

They are just trying it on with you. Keep your replies to facts ie what you have paid. Try no to get dragged into any further communication with them. Leave the ball at their foot from now. Just keep reiterating the point that you have repaid the loan plus one months interest ( as they have confirmed )

antony20smith · November 13, 2011

Kitten1

Re: Quid24 debt help

All you are legally obliged to pay them is the original loan plus one months interest. As you have already paid this, I would be writing to them, recorded delivery, stating that you have paid all that is owing and you will not be paying more. I believe it is section 87 of the consumer credit act that is the relevant piece of law you need.

i have looked at this part of the consumer credit act, and it doesnt seem relevant, (appologies if i am wrong though ) but is there anywhere that says all i have to pay is the original loan plus one months interest, because when i spoke to the financial ombudsman they said they wouldnt look at is as them charging too much because the charges are set out in the contract that i signed . they said they only way they would take up the complaint is the fact that i have been charged for letter that the havnt sent.

another i need to know is can they legally call an email a letter in the credit agreement . because as you can see from original post , they are classing the emails they sent, as the letters they have charged me for. and if they were to take things to court, or debt collecter where would i stand ?

ivansmagic. · November 13, 2011

I dont know about the legal side of the capital plus one months interest but it certainly seems to be the rule of thumb. Maybe soeone else will come along and give the correct legal perspective of it.

I think you might be getting yourself in a bit of a tizz about nothing. I would try to let this one go. Your have repaid the debt plus their interest. If they pass it to a DCA - it will probably be one of their affiliates or they guy across the desk from the one emialing you, I would just stick to the fact you have repaid.

Kitten1 · November 14, 2011

Sorry, I should have been more specific.

Sec 87 is the part which deals with late payment and default charges. As this loan is for one month, the loan agreement is terminated after a month so no default exists.

I think i've got that right. It's normally sillygirl who knows this part x

antony20smith · November 24, 2011

need help, they have now defaulted the account and this is what they emailed me.

You have defaulted on your loan from Quid24.com! *

Dear Anthony Smith,

Although we have contacted you repeatedly with regards to the unpaid balance of your Credit Agreement No 1804, you have still failed to make repayments as required.

As a result we consider your non-payment of the balance as an indication that you are deliberately attempting to avoid payment and are thus in breach of the terms of the Credit Agreement. Your actions have made it necessary for us to seek the services of a debt collection firm in order to recoup the balance of your loan. We are still hoping that you can contact us and rectify the issues to prevent further action.

£47.41 has been added to your total debt, bringing the balance to £237.03 as a result of the involvement of the debt collection firm.

A third party debt collector will be notified of your non-payment. They will either accept payment or take into account any assets that you may possess in order to progress the ongoing legal process relating to your case.

If you do not comply with debt recovery agency you may find that a Country Court Judgement may be made on your case.

PLEASE TAKE ACTION IMMEDIATELY!

Contact us now by email: collection@quid24.com

Collections team

collection@quid24.com

ivansmagic. · November 24, 2011

Firstly, does your CCA have any mention of the £47.41 for passing to a debt collector ? If not, I would challenge it. I would also encourage you to contact the lender directly to try to arrange a repayment plan that you can comfortably afford.

antony20smith · November 24, 2011

from what i can see there is no mention of charge for transfer to debt collector.

This is an agreement for running account credit between:

(1) Quid24 Limited of 2nd Floor, 145-157 St John Street, London, EC1V 4PY, United Kingdom ("We" "Us")

(2) **Edited out personal details*** ("You")

Key Financial Information

APR: 14,348% variable

Credit Limit: £100 or other such sum as we may notify to you from time to time.

Once this Agreement is in force, you can apply for an advance to us. Each time you apply, we will tell you if your

application has been agreed. If it has, we also confirm the total amount repayable by you and the date upon which this must

be received by us. You can then decide whether you wish to continue with the advance. You will only be entitled to make

further applications once any outstanding advance and charges have been repaid.

Other Financial Information

Total charge for credit:

Our charges for an advance of £100.00 for a period of 7 days will be:

Interest charges: £4.50

Transfer fee: £5.50

Total charge for credit £10.00

If we agree to advance you a different sum, we will tell you about the charges for credit which would be payable before

you agree to continue with the advance.

Interest: The rate of interest applicable to this Agreement is 235% per annum variable.

Interest is calculated at the time of each advance and applied to the account immediately.

In calculating the APR, no account has been taken of any variation which may occur under the agreement either of the rate

or amount of any item entering into that calculation. We may vary the interest rate and/or charges payable from time to

time. If we do so, we will tell you about that variation before you agree to enter into any further advance.

Key Information

Default Charges

If you are late in repaying an advance, we will charge you:

* Interest on the overdue sum at the rate applicable of 8% per annum.

* £60 for the first reminder letter (which will be sent to you once the advance has become 1 day overdue)

* £50 each for the second reminder letter (which will be sent to you once the advance has became 2 days overdue)

* £30 for the third reminder letter (which will be sent to you once the advance has became 4 days overdue)

* £50 for the fourth reminder letter (which will be sent to you once the advance has became 7 days overdue)

Interest will be payable on any overdue sums, transfer fees or other finance charges once they are 7 days overdue (see

clause 3.3 (d)

In addition, interest will be payable on any unpaid Default Charges from 28 days after we have sent you a notice of default

sums.

Cancellation

There is no right to cancel this Agreement under the Consumer Credit Act 1974 or the Timeshare Act 1992. However, you

do have a right to cancel this Agreement under the Financial Services (Distance Marketing) Regulations 2004 (see

Cancellation Rights below).

MISSING PAYMENTS

Missing payments could have severe consequences and make obtaining credit more difficult.

IMPORTANT- READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS

The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with

when this agreement was made. If they were not, the creditor cannot enforce this agreement without getting a court order.

The Act also gives you a number of rights. You can settle this agreement at any time by giving notice in writing and paying

off the amount you owe under the agreement which may be reduced by a rebate.

If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or

your nearest Citizens Advice Bureau.

Electronic Signature

Electronic Communications Act of 2000 provides that electronic signatures on documents hold equivalent legal status as

traditional handwritten signatures. By completing this online application, I certify that my digital signature is the equivalent

of my handwritten signature.

Customer's Signature

This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by

its terms.

Signature of Debtor: **Edited out personal Details *** Electronically Signed Agreement:

07/10/2011 at 01:21

Cancellation Rights

You will have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by us

("the Cancellation Period"). If you do not exercise your right to cancel within the Cancellation Period, you will not be able

to cancel this agreement. You may exercise this right to cancel by giving notice in writing by sending a letter to us at

Quid24 Limited, 2nd Floor, 145-157 St John Street, London, EC1V 4PY, United Kingdom or by e-mail to

support@quid24.com. If you do so after you have received payment of an advance from us, you will be required to repay

the amount of the advance plus interest at the rate stated in Other Financial Information from the date of the advance to the

date of repayment by you plus the Transfer Fee.

NOTE- IMPORTANT

By signing this agreement, you agree to be bound by both the terms contained within the Agreement and the Terms and

Conditions attached to this Agreement.

Signed for and behalf of Quid24 Ltd: Johannes Neidorf, Director, Electronically Signed Agreement:

07/10/2011 at 01:21

Your Details

***personal details edited out as requested ***

Terms and Conditions

1 Our business

1.1 We are registered at Companies House under number 7083850. Our main business is consumer lending and we

provide short-term credit facilities to debtors in return for the repayment of the credit and the payment of interest. We

are authorised by the Office of Fair Trading, and our Consumer Credit Licence Number on its register is 0633272.

2 Advances

2.1 We will provide you with a four digit (e.g.1234) Personal Identification number ("PIN") within one day of you

signing this agreement. You will need to use your PIN with each request for an advance from us and therefore, it is

important that your PIN remains confidential to you.

2.2 You can make a request for an advance by either:

i

L ogging into your account at

www.quid24.com. You need to sign into your account and follow the onscreen

instructions to make a request. We should be able to tell you immediately the amount that we are willing to lend you,

the proposed repayment date and the amount that you must repay. You will then be provided with on screen

instructions in order to accept the loan.

ii

S ending a text message with the word "QUID" and your "PIN". We will then text you to confirm the amount of the

advance which you have requested, the proposed repayment date and the proposed repayment amount (including

interest charges and transfer fees).

2.3 In the event that a request for an advance is made by you by another means, we may choose to accept this at our sole

discretion.

2.4 From time to time, we may agree to provide you with an advance which is a different amount to the amount of your

credit limit. If so, your credit limit will vary to this amount. In the event that we refuse to provide you with an

advance, your credit limit will be reduced to nil. You may still make further requests for an advance and if accepted,

your credit limit will be raised to this sum accordingly.

2.5 We will arrange for payments to be advanced to you by paying these sums into your nominated bank account ("the

Account").

2.6 If we agree to provide you with an advance, you must respond to us by the end of the second working day. Otherwise

we are not obliged to provide you with an advance and can refuse any requests for a further advance.

2.7 From time to time, we may decide to vary the amount or rate of the charges shown on the front of this Agreement

(including interest charges, transfer fees and default charges). We will provide you with seven days notice in writing

if we decide to change the default charges applicable to this Agreement. Otherwise, we will tell you about any change

in the interest or the transfer fees upon receipt of a request from you for an advance. Any variation in our charges will

only affect future advances and will have no effect on any advance which we have already provided to you.

2.8 You cannot request a further advance if you still owe us money under a previous advance (including interest and

transfer fees and default charges).

3 Repayments

3.1 By signing this agreement, you confirm that your wages are regularly paid into the Account and you agree to ensure

that there are sufficient funds available in the Account on the repayment date(s) to repay any advance to us.

3.2 You authorise us to collect repayments from you by debiting the debit/credit card which you have registered with us.

3.3 In the event that we are unable to collect any repayment for any reason, we will:

a) Attempt to collect the repayment from the Account or debit or credit card at a later stage, for an indefinite period,

on more than one occasion in order to collect the amount outstanding.

b) Send reminder letters to you, in accordance with the provisions contained in the Default Charges section of the

Agreement.

c) Continue to attempt to collect these charges using the debit or credit card you have registered with us for an

indefinite period, on more than one occasion in order to collect the amount outstanding.

d) d) Be entitled to charge interest on any overdue sums, transfer fees and other finance charges outstanding once

these sums have been overdue for 9 days. Interest will begin to be charged from the 7th day, at the rate of 8% per

annum.

e) Not charge any interest under this condition on any unpaid Default Charge until 28 days after we send you a notice

of default sums under the provisions of the Consumer Credit Act 1974.

f) Be entitled to seek interest on any overdue sums both before and after any judgment.

3.4 You acknowledge that additional taxes, legal costs or other charges may levied which are not payable by us or

imposed by us in relation to this Agreement.

4 Cancellation

4.1 You have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by us

("the Cancellation Period"). You may exercise this right by giving notice in writing to Quid24 Limited, 2nd Floor,

145-157 St John Street, London, EC1V 4PY, United Kingdom or by e-mail to support@quid24.com.

4.2 If you do so after you have received payment of an advance from us, you will be required to repay the amount of the

advance plus interest at the rate stated in Other Financial Information from the date of the advance to the date of

repayment by you plus the Transfer Fee.

4.3 If you do not exercise this right to cancel, this agreement will be binding upon you and you must repay any advance

in accordance with these terms and conditions.

4.4 If you do not cancel you will still be able to settle any advance prior to the repayment date. You can do this by paying

the outstanding balance that is due and payable in full (including interest and charges, including transfer fees) less

any rebate which may apply under the Consumer Credit Act 1974.

4.5 Any request for an advance made by you prior to the expiry of the cancellation period shall be treated as a request to

provide an advance. However, you acknowledge that we are under no obligation to make this advance.

4.6 In the event that you cancel this Agreement, as soon as possible and in any event within 30 calendar days from the

date on which you notified us of the cancellation:

a) We will refund any sum paid by or on behalf of you,

b) You must repay any sum paid by or on behalf of us under or in relation to this Agreement.

Accordingly, we can charge you for services actually provided by us in accordance with the terms of this Agreement,

including the amount of any unpaid interest and transfer fees and charges outstanding in respect of any advance.

5 General

5.1 By signing this Agreement, you confirm that you are not currently the subject of:

a) a debt management plan;

b) an Individual Voluntary Arrangement; or

c) bankruptcy proceedings.

5.2 In addition, you confirm that you are in full time employment and you are not:

a) Self Employed;

b) Absent from work due to sickness leave, maternity leave, paternity leave, adoption leave, or any other kind of

unpaid leave.

c) Under notice of redundancy or any disciplinary action that may cause your employment to be terminated.

5.3 You are not required to provide us with any security under the terms of this agreement.

5.4 There is no minimum term of this agreement.

5.5 If we do not enforce our rights under this Agreement at any time we will not be prevented from doing so later.

5.6 You agree that we can send any documents or notices to you by e-mail. Any notice or demand sent to you will be

deemed to have been received by you if sent by e-mail or left or sent by prepaid envelope addressed to you at your

current address or last known business or private address.

5.7 You permit us to contact your employer named in your Employment Details at anytime as may be reasonably

required by us.

5.8 We may transfer or assign all or any of our rights under this Agreement.

6 Jurisdiction

6.1 The law of England and Wales is taken by us as a basis for the establishment of relations with you prior to the

conclusion of the Agreement, and governs the Agreement. The contractual terms and conditions, and the prior

information, are in English. We undertake, with your agreement, to communicate with you in English during the

duration of this Agreement. This Agreement shall be construed according to the laws of England and Wales whose

courts shall be the exclusive courts of jurisdiction.

7 Use of Your Information

7.1 It is important that you provide us with accurate information in connection with this agreement. Prior to entering into

this agreement, or at the time of doing so, we may decide to check your details with fraud prevention agencies. If you

provide false or inaccurate information or we suspect fraud, this information may be recorded. Fraud prevention

agency records will be shared with other organisations to help make decisions on credit, motor, household, life and

other insurance proposals or claims for you and members of your household.

7.2 Furthermore, prior to entering into this agreement, we may decide to search your record at credit reference agencies.

They will add to their records about you, details of our search and your application and this will be seen by other

organisations that make searches. Our search of records at credit reference agencies may be linked to your

spouse/partner or other persons with whom you are linked financially. For the purposes of any application or this

Agreement you may be treated as financially linked and you will be assessed with reference to "associated records".

7.3 We may also add to your record with the credit reference agencies details of your agreement with us, the payments

you make under it and any default or failure to keep to its terms. These records will be shared with other organisations

and may be used and searched by us, and others, in order to:

a) Consider applications for credit and credit related services, such as insurance, for you and any associated person;

b) Trace debtors;

c) Recover debts;

d) Prevent or detect money laundering and fraud; and

e) Manage your accounts.

7.4 If you fail to keep up repayments under the Agreement we may send your personal details, including name and

contact details and details about your payment history under the agreement, to third party debt collection agencies so

that they may collect the money that you owe under this agreement.

7.5 If you require details of the credit reference agencies or any other agencies from whom we obtain, and to whom we

pass, information about you please write to us at our address stated above. You have a legal right to these details. You

have the right to receive a copy of the information we hold about you if you apply to us in writing. A fee will be

payable.

8 Complaints

8.1 If you have a complaint, we will investigate it and give any redress to which we feel you are entitled. If you are not

happy with our final response, you may have a right to have your complaint dealt with under the Financial Services

Ombudsman Scheme, South Quay Plaza, 183 Marsh Wall, London E14 9SR or telephone 0845 080 1800 or 020 7964

0500. To do so, you would need to notify the Scheme in writing within 6 months of our final response.

p.s i just accidently posted this message on there support thread.

Edited November 25, 2011 by citizenB
edited out personal details

ivansmagic. · November 24, 2011

oofft, too much personal infor on there to be displayed !!!!!

citizenB · November 25, 2011

Ok, I think I have managed to sort out all your personal details..

I have highlighted two clauses in blue. 5.8 and 7.4. These mention the assigning of an account (ie selling forward) and also passing on to Debt collection agencies in order for them to collect outstanding sums.

antony20smith · November 25, 2011

thanks for editing the details, also i see that it refers to passing on details to a debt collector, but it doesnt state that they charge for this, but they have charged me, but yet they are still offering me to clear the debt for £89.32 or set payment plan for £16 a month, but i dont believe i should pay any of the charges as they charged me £190 for 4 emails they sent, when i tried to contact them before hand to let them know of the situation, and they refused any sort of help until the had put on all the charges, and im sure there is some sort of law where they have to help the consumer if they have contacted them for help, but they refused to help until the charges were put on.

ivansmagic. · November 25, 2011

How much of the capital do you still owe ? Is it close to £89.32 ??

I would say the charge to pass to debt collector is unforcable as your cca doesnt state the amount they would charge.

I would also be challenging the £60, £50, £30 & £50 for each of the 4 emails they sent you. This does not represent a reasonable cost of recovering the debt and are therefore making a profit from this practice. That is a no no. just cause they are in your cca doesnt mean they are legal.

Im no legal eagle but this seems to be general rule from other threads.

antony20smith · November 25, 2011

they claim that i still owe £189.62 because i paid £110.38 (38p good will gesture payment etc explained in posts) £100 original loan, £10 charges and interest, the £189.62 + 38p = £190 charges

i tried phoning citizens advice about it but our one near us says that it can be any time when they answer phones because they dont have enough volunteers so its pot luck when i get through, so i dont know where i legally stand with these charges, quid 24 offered to settley for £89.62 as this would cover £90 of charges, but i dont have 89.62 so they are offering payment plan for £16 a month, but i genuinly dont believe i should pay these charges as they are unjustifiable if it was say £20-40 then ok i would pay as this is alot more justifiable.

citizenB · November 26, 2011

thanks for editing the details, also i see that it refers to passing on details to a debt collector, but it doesnt state that they charge for this, but they have charged me, but yet they are still offering me to clear the debt for £89.32 or set payment plan for £16 a month, but i dont believe i should pay any of the charges as they charged me £190 for 4 emails they sent, when i tried to contact them before hand to let them know of the situation, and they refused any sort of help until the had put on all the charges, and im sure there is some sort of law where they have to help the consumer if they have contacted them for help, but they refused to help until the charges were put on.

No, I dont think they are allowed to charge for passing this on to a collection agency. I would also think those email charges are unenforceable as well.

antony20smith · November 27, 2011

see i thought this aswell, as it doesnt state in the contract they can charge for passing on to an external debt collector, also as you say these charges are just way to high, but i need to know some sort of legislation that says this that i can use as my reason to refuse to pay, i need something before the 30th, and they have given me until the 30th to make some sort of arrangement.

but also is there some way i can stop them passing onto a debt collector, as i have made a dispute and they have yet to resolve the matter, i thought they couldnht take any action whilst the account is in dispute, i have also made a complaint to the financial ombudsman who wrote to them, and they have not even acknowledged this, i have 3 more weeks before i can pursue the matter via the financial ombudsman , but they are threatening action before this, what should i do ?

citizenB · November 28, 2011

Have a read of the Lending Code - From Section 9 onwards might be useful

[ATTACH=CONFIG]31782[/ATTACH]

Also the OFT guidelines on Debt Collection

[ATTACH=CONFIG]31783[/ATTACH]

antony20smith · April 18, 2012

just an update for everyone, quid 24 are still chasing me , still have carter forbes ringing me, i pay all my debts when i can, i just blatently refuse to pay this company, as when i made them aware i had payment difficulties, instead of agreeing to an arrangement they refuse to help until 14days had passed, in which they charged £190 , i paid the original loan back at this point, plus 1 months interestes, and 14days interest at 8%apr , as a goodwill gesture. but i am discusted at the way this company acted and believe some where along the line they failed to follow the rules, also if they charge was around £30 i would of paid this as i believe it is a fair and justifiable charge, but i dont think £190 is !

anyway since this they have continued to charged for other things which to be honest i havent taken notice of as i know whatever it is i aint paying it, but the balance now stands at £375, they offered to clear the account for £200 but obviously i aint doing this, so i kindly replied yes i will accept the £200 as compensation for our continued harrasment please send me a cheque to my registered address, to which i have had no response, no shock there

just wondering if anyone knows where i can go to sort this cos there just doing my nut in, at the end of the day i aint paying it because its just plain ridiculous, is there a piece of legislation that would help me ?

citizenB · April 18, 2012

Are you keeping all the correspondence - emails ?

The OFT are investigating PDL companies at the moment and it is hoped that QQ are one of those! If you read other threads in respect of this company you will see how CF and QQ are being dealt with.

antony20smith · April 18, 2012

its quid24 not quick quid, also can i ring oft ??

i have just been onto the financial ombudsman who are gunna strat proceeding with my original complaint, as they have not responded and its been 8 weeks, i have also lodged a new complaint, about how they refused to help when i told them about my financial dificulties, and continued to charge me and then pass me onto debt collectors, financial ombudsman is going to contact them about this, see what they have to say, they then have 8 weeks to respond before i can take it further. but i need a quicker solution to this !

and YES ! i have kept all email records, and trancscripts. me not silly

Edited April 18, 2012 by antony20smith
added last bit of info

citizenB · April 18, 2012

its quid24 not quick quid, also can i ring oft ??

i have just been onto the financial ombudsman who are gunna strat proceeding with my original complaint, as they have not responded and its been 8 weeks, i have also lodged a new complaint, about how they refused to help when i told them about my financial dificulties, and continued to charge me and then pass me onto debt collectors, financial ombudsman is going to contact them about this, see what they have to say, they then have 8 weeks to respond before i can take it further. but i need a quicker solution to this !

and YES ! i have kept all email records, and trancscripts. me not silly

My apologies.. there are so many of these "alphabet" companies.. it is hard to keep up:|

OFT - whilst they will accept your complaint, they will not deal with an individual complaint. They record all complaints on a specific company and act only if Public outcry forces them to, if it is in the public interest, or if they collect loads of complaints.

So yes, email them by all means, but I doubt they will be able to help.

I think you can make a complaint to Trading Standards, but you have to go via Consumer Direct to do that.

That is good the FOS are taking up your complaint

asmilecostsnothing · April 18, 2012

Consumer Direct no longer exist - it is CAB they have transferred to

citizenB · April 18, 2012

Consumer Direct no longer exist - it is CAB they have transferred to

Thanks for this information, I didnt realise

antony20smith · January 31, 2013

(debt started with quid 24 and has been passed on in order of title)

hi all,

so i have been dealing with these idiots for well over 18 months now,

i took a loan with quid24 for £100 , when i realised the loan was for 7 days only i rang them to explain of my financial dificulty of paying it back so soon, as i didnt get paid until 14 days after the due date, i explained this to them but the refused to help, they said they could not help until the account had been in default for 14 days ( a bit convenient, ) in these 14 days they added the following charges

Default Charges

If you are late in repaying an advance, we will charge you:

* Interest on the overdue sum at the rate applicable of 8% per annum.

* £60 for the first reminder letter (which will be sent to you once the advance has become 1 day overdue)

* £50 each for the second reminder letter (which will be sent to you once the advance has became 2 days overdue)

* £30 for the third reminder letter (which will be sent to you once the advance has became 4 days overdue)

* £50 for the fourth reminder letter (which will be sent to you once the advance has became 7 days overdue)

so as you can see they added £190

at this point i paid back the original loan (£100) 1 months interest (£10) then paid goodwill gesture of 14days interest at 8% apr (£0.38p)

they have since added £47.41 for debt collectors fee which isnt outlined in the contract (contract below)

*************************************************

This is an agreement for running account credit between:

(1) Quid24 Limited of 2nd Floor, 145-157 St John Street, London, EC1V 4PY, United Kingdom ("We" "Us")

(2) **Edited out personal details*** ("You")

Key Financial Information

APR: 14,348% variable

Credit Limit: £100 or other such sum as we may notify to you from time to time.

Once this Agreement is in force, you can apply for an advance to us. Each time you apply, we will tell you if your

application has been agreed. If it has, we also confirm the total amount repayable by you and the date upon which this must

be received by us. You can then decide whether you wish to continue with the advance. You will only be entitled to make

further applications once any outstanding advance and charges have been repaid.

Other Financial Information

Total charge for credit:

Our charges for an advance of £100.00 for a period of 7 days will be:

interest charges: £4.50

Transfer fee: £5.50

Total charge for credit £10.00

If we agree to advance you a different sum, we will tell you about the charges for credit which would be payable before

you agree to continue with the advance.

Interest: The rate of interest applicable to this Agreement is 235% per annum variable.

Interest is calculated at the time of each advance and applied to the account immediately.

In calculating the APR, no account has been taken of any variation which may occur under the agreement either of the rate

or amount of any item entering into that calculation. We may vary the interest rate and/or charges payable from time to

time. If we do so, we will tell you about that variation before you agree to enter into any further advance.

Key Information

Default Charges

If you are late in repaying an advance, we will charge you:

* Interest on the overdue sum at the rate applicable of 8% per annum.

* £60 for the first reminder letter (which will be sent to you once the advance has become 1 day overdue)

* £50 each for the second reminder letter (which will be sent to you once the advance has became 2 days overdue)

* £30 for the third reminder letter (which will be sent to you once the advance has became 4 days overdue)

* £50 for the fourth reminder letter (which will be sent to you once the advance has became 7 days overdue)

Interest will be payable on any overdue sums, transfer fees or other finance charges once they are 7 days overdue (see

clause 3.3 (d)

In addition, interest will be payable on any unpaid Default Charges from 28 days after we have sent you a notice of default

sums.

Cancellation

There is no right to cancel this Agreement under the Consumer Credit Act 1974 or the Timeshare Act 1992. However, you

do have a right to cancel this Agreement under the Financial Services (Distance Marketing) Regulations 2004 (see

Cancellation Rights below).

MISSING PAYMENTS

Missing payments could have severe consequences and make obtaining credit more difficult.

IMPORTANT- READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS

The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with

when this agreement was made. If they were not, the creditor cannot enforce this agreement without getting a court order.

The Act also gives you a number of rights. You can settle this agreement at any time by giving notice in writing and paying

off the amount you owe under the agreement which may be reduced by a rebate.

If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or

your nearest Citizens Advice Bureau.

Electronic Signature

Electronic Communications Act of 2000 provides that electronic signatures on documents hold equivalent legal status as

traditional handwritten signatures. By completing this online application, I certify that my digital signature is the equivalent

of my handwritten signature.

Customer's Signature

This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by

its terms.

Signature of Debtor: **Edited out personal Details *** Electronically Signed Agreement:

07/10/2011 at 01:21

Cancellation Rights

You will have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by us

("the Cancellation Period"). If you do not exercise your right to cancel within the Cancellation Period, you will not be able

to cancel this agreement. You may exercise this right to cancel by giving notice in writing by sending a letter to us at

Quid24 Limited, 2nd Floor, 145-157 St John Street, London, EC1V 4PY, United Kingdom or by e-mail to

support@quid24.com. If you do so after you have received payment of an advance from us, you will be required to repay

the amount of the advance plus interest at the rate stated in Other Financial Information from the date of the advance to the

date of repayment by you plus the Transfer Fee.

NOTE- IMPORTANT

By signing this agreement, you agree to be bound by both the terms contained within the Agreement and the Terms and

Conditions attached to this Agreement.

Signed for and behalf of Quid24 Ltd: Johannes Neidorf, Director, Electronically Signed Agreement:

07/10/2011 at 01:21

Your Details

***personal details edited out as requested ***

Terms and Conditions

1 Our business

1.1 We are registered at Companies House under number 7083850. Our main business is consumer lending and we

provide short-term credit facilities to debtors in return for the repayment of the credit and the payment of interest. We

are authorised by the Office of Fair Trading, and our Consumer Credit Licence Number on its register is 0633272.

2 Advances

2.1 We will provide you with a four digit (e.g.1234) Personal Identification number ("PIN") within one day of you

signing this agreement. You will need to use your PIN with each request for an advance from us and therefore, it is

important that your PIN remains confidential to you.

2.2 You can make a request for an advance by either:

i

L ogging into your account at www.quid24.com. You need to sign into your account and follow the onscreen

instructions to make a request. We should be able to tell you immediately the amount that we are willing to lend you,

the proposed repayment date and the amount that you must repay. You will then be provided with on screen

instructions in order to accept the loan.

ii

S ending a text message with the word "QUID" and your "PIN". We will then text you to confirm the amount of the