Quickquid Way Out?

[Landros]

Hi all,

 

I have a loan with quickquid which perpetuates itself costing me a hundred a month in interest alone... I can pay the loan, but i have to take it out again to get through the month.

 

Does anyone have experience with setting up payment plans with them or is the only option for me to cancel my debit card and take things from there?

 

Cheers

 

Dave

[maroondevo52]

Hello and Welcome, Dave.

 

I've moved this thread to our PDL Forum, hopefully you'll get some help shortly.

 

Regards.

 

Scott.

[Landros]

Thanks again

[Landros]

Since posting i understand that i can instruct both QQ and my bank that i no longer authorise the automatic payments, great stuff

 

Can i assume that the instruction will be handled immediately by my bank, even if not by QQ?

 

I also figure that QQ will continue to add charges and interest? i have read somewhere that this can be reclaimed but there wasnt a whole lot of info in that post, if anyone knows where i should be looking and could point me that would be fab

[renegadeimp]

Hi all,

 

I have a loan with quickquid which perpetuates itself costing me a hundred a month in interest alone... I can pay the loan, but i have to take it out again to get through the month.

 

Does anyone have experience with setting up payment plans with them or is the only option for me to cancel my debit card and take things from there?

 

Cheers

 

Dave

 

Ok. First thing to say. Ignore their stated interest per month. It would NEVER stand up or be remotely justifiable in court.

 

How much was the original loan PLUS contracted interest that you signed in the original contract? How much have you paid them back so far?

 

Don't cancel your debit card, report it as stolen and cancel any CPA's on the account. Reporting it stolen stops any transactions on the card immediately. If you just ask for it to be cancelled, it could still be active for a few days or even weeks after your request.

 

Make sure you quote regulation 55 of the Payment Services Regulations 2009 when cancelling any CPA's on the account. This is base UK law and the banks cannot break it ( although a few will try).

[Landros]

Thanks for this, Will they accept the instruction to cancel CPA's immediately? and also will they accept it through my online banking?

 

it started off as a hundred or two and grew to 3 or 4, it tends to fluctuate. I had around £700 in loans (inc interest) at one point but have been able to half it so only dealing with QQ and not wonga now

[renegadeimp]

They have no choice but to comply with your instructions. If they dont, then they are breaking the law and you NEED to get the FOS, FSA and possibly the police involved.

[Landros]

Okay cool,

 

Now everything comes out of that account, but i have two accounts linked with HSBC - so should i change all my payments over to the other account ant then if they dont listen and the bank takes me into the red its more clear to see what they need to reverse?

[renegadeimp]

WHat you need to do is create a bank account with a separate banking group. Use that for your wages/day to day money, and use the old bank purely for bill paying. This way your money is 100% secure and you are in complete control of what happens.

 

You also NEED to be complaining to the FOS about QQ's extortionate interest rates. As i said earlier, there is no way on this earth that £100 interest each calendar month is justifiable.

[Landros]

None of my lenders have the other HSBC account details though, and HSBC shouldnt be able to allow payments out of that second account should they? I would prefer not to have to switch accounts... i do have a dormant account with barclays which i kept incase of something like this ever happening but i really dont like that bank at all

[Landros]

I also have a post on my HSBC managed loan which may become relevant if i switch accounts

[meganimoo]

Hijust to let you know, I had a PDL with Quick Quid, they eventually passed my account to Red Recoveries and I pay them by BSO at £10 per month.......

[renegadeimp]

Why are you paying a DCA? You know they have no legal rights whatsover right?

[meganimoo]

Why are you paying a DCA? You know they have no legal rights whatsover right?

 

Shall I stop? I wasnt disputing the debt, I got into this mess through my own stupid fault, I just wanted to make it as painless as possible!

[renegadeimp]

SOmeone else can clarify, but if i was in your position, i would tell them to take a running jump, and i would start paying the Original Creditor directly by standing order. Keep a record of the date, time and transaction number, so if they say it wont be applied to the account, you can take it to court and force it.

[wagwag]

Hijust to let you know, I had a PDL with Quick Quid, they eventually passed my account to Red Recoveries and I pay them by BSO at £10 per month.......

 

Meganimoo, how long did you wait for the outstanding to be passed over to a dca. Rather be paying them than being bullied into extortionate repayment plans:-)

[meganimoo]

Meganimoo, how long did you wait for the outstanding to be passed over to a dca. Rather be paying them than being bullied into extortionate repayment plans:-)

 

Hi Wag wag I think it took around 6 weeks, it was a while ago. But they accepted what i offered.Let me know if there is anything elseRegards

[wagwag]

Hi Wag wag I think it took around 6 weeks, it was a while ago. But they accepted what i offered.Let me know if there is anything elseRegards

 

Thanks for that, I just think at least if the outstanding balance was passed on then I could make any offer and it would be accepted. I've been arguing with QuickQuid since the end of February beginning of March, I'm fed up of trying to play ball with ignorant scripted individuals who god forbid deviate from what's in front of them.

[paulh1818]

I've been playing ping-pong email with quick quid since december 2011. They refuse completely to give the details needed for a standing order. They finally sent an email yesterday saying my account will be passed to a third part. I'd prefer to pay a dca by SO than set up a DD with quick quid...

[willnotdoitagain]

I am having problems with QQ too, the last email I recieved they wanted £200 per month. I have sent them an email eveyday for a week now but heard nothing except the standard email to say my accounts overdue.

[renegadeimp]

Anyone who has issues like that NEEDS to get it to the OFT. If you dont, then theres no point complaining because nobody can help you as the PDL's will just do the same things again and again as theres no penalty.

[sequenci]

Anyone who has issues like that NEEDS to get it to the OFT. If you dont, then theres no point complaining because nobody can help you as the PDL's will just do the same things again and again as theres no penalty.

 

100% agree here. Really excellent point.

[Landros]

Just to keep people updated;

 

I have sent an instruction to my bank to prevent these automatic payments via recorded delivery today and have also sent a copy via email with the tracking reference number also.

 

Tomorrow i plan to write letters for QQ and also for Wonga requesting payment info, ill let you know how that goes but i think from reading we all know what to expect from them!

[sequenci]

When you write to them both be sure to ask them if they subscribe to the lending code for small cash advances and if they adhere to the OFT debt collection guidance!

[Landros]

When you write to them both be sure to ask them if they subscribe to the lending code for small cash advances and if they adhere to the OFT debt collection guidance!

 

Any specific wording i need to use here?