Help! Experience of Quickquid repayment plans??

[Oceanic83]

Hi Guys,

 

I've posted before and have currently got repayment plans set up with 6 of my lenders at the moment, but unfortunately I am heading for a repayment due date for quickquid. The amount is absolutely way too much for me to afford so I am looking to set up a repayment plan over 8 months or so. I already had a pre-default plan but stupidly I got myself right back into the mess as it seemed like the only way out at the time.

 

I have been on the live chat and the person told me i would need to contact collections on the due date to discuss. What would that actually entail - anyone been there done that??

 

I have sent in the post today a letter revoking CPA and advised my bank the same. I also cancelled my debit card and reported stolen/fraud so have all new card numbers etc which QQ have no record.

 

Do I have a hope in hell of getting a way out of this mess via a repayment plan with QQ? I'm talking about £1200 over 8 months. I am really hoping some of you guys have had some success.

 

Thanks for reading!

[havinastella]

How much did you borrow?

[Oceanic83]

It was about 1000 in total and its 1300 as the total repayment

 

I have already rolled over a couple of times

[havinastella]

OK, so they haven't added stupid amounts yet.

 

My advise to you would be keep everything in writing, whether emails or snail mail. This will show you have tried to set up a repayment plan should it go to court. Work out what you can realistically pay (use the template in the library) and make a proposal.

 

This should cover yourself.

[Oceanic83]

I've kept a copy of the live chat useless conversation and will be sending an email on the due date. I just worry they will try and raid my bank. Should I go into my account and choose 'EXTEND LOAN' to prevent any attempt of taking the entire loan balance? Thx

[renegadeimp]

You need to write to your bank and secure your finances. If they get a hint you are going to default, they have been known to strip accounts bare.

[bbfc]

Other people on here seem to have had more success using their Live Chat to setup payment plans. I wonder why they are reluctant to offer you a plan. Maybe try the online chat again.

[abbyyurt88]

You may have to wait until your due date as they will only offer you a pre-default repayment over 3 months.

Writing to them is pointless, they only have a mailbox and not an office. and their payment address in Sheffield is a PO Box so no body there to sign for it should you send postal payments there.,

 

I owed 1000, I defaulted and managed to get a 17 month repayment plan for 56 a month. NEVER extend ur loan cos thats a 200 pound fee on top... Although im now having trouble cos my repayment is set up in direct debit in an account i dont use, only for debt, but they havent taken payment for February and when i contacted them, they said nothing is owed until end of March but couldnt give me an explanation as to why. All i got was it was confirmed by a manager that ive nothing owing this month.

 

Keep a copy of ALL conversation via LIve Chat, and Email JUST in case. They seem incompetant and sloppy with their job. Kepp ur eyes always on the ball

[Crocdoc]

I've kept a copy of the live chat useless conversation and will be sending an email on the due date. I just worry they will try and raid my bank. Should I go into my account and choose 'EXTEND LOAN' to prevent any attempt of taking the entire loan balance? Thx

 

To stop them raiding your bank you MUST withdraw yor consent for payment, write to your bank cancelling the reccuring payment and attach the following to your letter as banks have been known to state that such payments cannot be stopped, WHICH IS ABSOLUTE RUBBISH . Do this in advance of any negotiation with the lender as they may appear to accept an offer and then raid your account.

 

Cancelling a recurring payment

 

152a Recurring payments, is the term used to describe transactions for which a client has granted written permission for her/his credit or debit card to be debited for recurring goods or services, for example, club membership subscriptions, insurance cover or payday loans. The card may be debited annually, monthly or at other regular intervals.

152b In most cases, recurring payments can be cancelled by telling the trader taking the payments. However, a client has the right to withdraw consent by simply telling whoever issued the card (the bank, building society or credit card company) that s/he does not want a payment to be made. S/he can tell the card issuer by phone, email or letter.

152c The card issuer has no right to insist that the client ask the trader to stop taking the payment first. The card issuer has to stop the payments if the client has asked them to. The client could point out to the card issuer that they should follow the FSA guidance available in the FSA Know your rights booklet which is available on the FSA website at www.fsa.gov.uk.

152d If money is still taken from the client's account, it will be deemed to be an unauthorised transaction, and the card issuer must give her/him an immediate refund. The card issuer will have to cancel any interest and charges added to the her/his account because the payment was taken. It is not up to the client to prove that s/he told the card issuer to stop taking payments. Instead, the card issuer would have to prove that s/he did not tell them to stop making payments.

152e The client should complain to the Financial Ombudsman Service when all the internal complaints systems within the company issuing the card have been exhausted.

1. You can learn more about your rights via the following fsa guide :

 

Ending recurring payments from credit cards

 

57 Recurring payments, is the term used to describe transactions for which a client has granted written permission for her/his credit or debit card to be debited for recurring goods or services, for example, club membership subscriptions, insurance cover or payday loans . The card may be debited annually, monthly or at other regular intervals.

 

 

2. 58 In most cases, recurring payments can be cancelled by telling the trader taking the payments. However, a client has the right to withdraw consent by simply telling whoever issued the card (the bank, building society or credit card company) that s/he does not want a payment to be made. S/he can tell the card issuer by phone, email or letter.

59 The card issuer has no right to insist that the client ask the trader to stop taking the payment first. The card issuer has to stop the payments if the client has asked them to. The client could point out to the card issuer that they should follow the FSA guidance available in the FSA know your rights booklet which is available on the FSA website at www.fsa.gov.uk.

 

 

59a If money is still taken from the client's account, it will be deemed to be an unauthorised transaction, and the card issuer must give her/him an immediate refund. The card issuer will have to cancel any interest and charges added to the her/his account because the payment was taken. It is not up to the client to prove that s/he told the card issuer to stop taking payments. Instead, the card issuer would have to prove that s/he did not tell them to stop making payments.

60 The client should make a complaint to the Financial Ombudsman Service when all the internal complaints systems within the company issuing the card have been exhausted

[abbyyurt88]

Yes. I also did this ^^^ My bank tried to DENY doing it...i took a copy of my request to cancel the CPA into Halifax and they told me they cant do that. Then i pulled out the FSA booklet i printed out from here, as provided by fellow Cagger Renegaide and had highlighted the area where it says u can remove the CPA

 

. Bank Manager couldnt say much after that haha, he just took my copy, stamped it...also stamped MY copy aswell, reported card lost and he told me to destroy the card!

[Crocdoc]

Yes. I also did this ^^^ My bank tried to DENY doing it...i took a copy of my request to cancel the CPA into Halifax and they told me they cant do that. Then i pulled out the FSA booklet i printed out from here, as provided by fellow Cagger Renegaide and had highlighted the area where it says u can remove the CPA

 

. Bank Manager couldnt say much after that haha, he just took my copy, stamped it...also stamped MY copy aswell, reported card lost and he told me to destroy the card!

 

It's remarkable how difficult the banks can be on this one, I understand that my local CAB are doing a radio slot and a press release on this very issue in the next few weeks.

[renegadeimp]

If the banks try to block your rights to do this, get in touch with the OFT/FOS and FSA and send the banks head office a formal complaint. Theyll soon backtrack.

[Crocdoc]

If the banks try to block your rights to do this, get in touch with the OFT/FOS and FSA and send the banks head office a formal complaint. Theyll soon backtrack.

 

I fully understand that this option is available, the idea of press involvement is to try and inform people that it can be done and how it's done.

[renegadeimp]

Oh i agree. But unfortunately its not "big" enough news for most newspapers. Only the likes of the daily mail actually print things like this. Perhaps try watchdog. If enough people contact them, theyll at least investigate.

[Crocdoc]

Oh i agree. But unfortunately its not "big" enough news for most newspapers. Only the likes of the daily mail actually print things like this. Perhaps try watchdog. If enough people contact them, theyll at least investigate.

 

I appreciate your point as it is difficult to get national coverage, on the other hand there should be no need to go down this route, the FSA and the OFT should be bringing the banks to heel. (If only it was a perfect world)

[renegadeimp]

THe thing is, they can only do what they are allowed to do within the law. And they have to perform full investigations.

 

However, also remember that hardly any complaints are ever made to the regulators. Plenty of people say they will complain but never do. This leads the regulators to believe that there is nothing going on and the banks are operating as they should.