Quickquid Way Out?

[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).

[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.

[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.

[renegadeimp]

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

[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.

[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.

[renegadeimp]

Good job on forwarding it. The more complaints the OFT get, the better.

[renegadeimp]

Yea, unfortunatley direct VISA payments are guaranteed, but you can claim a chargeback. However, they CAN stop the CPA on the account related to it. Tell them to read the FSA rules from 2009 and adhere to them. Emphasise that you want the CPA stopped on the card.

[renegadeimp]

Quote everything in the initial post at http://www.consumeractiongroup.co.uk/forum/showthread.php?336569-How-to-remove-a-lender-s-continuous-payment-authority(2-Viewing)-nbsp and also the PDF's.

[renegadeimp]

If they still refuse, make sure you issue a formal complaint to the banks compliance officer/data controller.

[renegadeimp]

Tell the agent he is COMPLETELY wrong and to go and read the FSA law. Failing that, demand to speak to a senior manager. They MUST stop any and all CPA's on your account when you instruct them to. If they dont, they are breaking the law.

[renegadeimp]

You have to make sure the call is recorded first. If they try to doge your question, you can SAR them, although this will cost £10. The best way to do it is to call again and ask the same thing again, but make sure they are recording the call.

[renegadeimp]

Easiest way, type it out in short simple language, walk to your branch and hand it to a manager. Done.