Please help with Initial Letter to QQ.

[ameharhughes]

Hi,

 

At the momemt I have aroud £1500 with Quick Quick, the original capital borrowed was about £600, the rest is late fees and charges, I am only able to pay the finance charge to extend the loan to be able to live every month, Ive dont this about 10 months in a row now.

 

From this forum, Ive learning I can get them to freeze the debt and pay a solid amount each month to pay of the loan, but am not sure the best of doing it, could some one point me a in direction for a letter sample?

 

I figure I can pay £50 a month to start and once I am trained in my job and getting full pay I can increase the amount later on, would it be possible to get the total amount reduced as well or a I stuck with the current amount? Also I dont know if makes a differences but when I took the loan out I had an IVA does this help in anyway?

 

Thanks for any help and advice in advance.

[renegadeimp]

Can you clarify late fee's and charges please. The late payment fee's are unlawful and unenforceable so you can ignore them. The other charges are suspicious, although you will only need to pay ONE default fee out of them.

 

Regarding payment plans, you need to sit down and work out a comprehensive I&E plan for yourself, then a simplified budget summary for your creditors. You say you can pay £50 a month to start. Are you sure you can pay that without neglecting your other creditors or essential outgoings, and more-so MAINTAIN that payment to them? I ask, because should they ever venture near a court, if your repayments keep fluctuating, it wont look good on you. Especially if you havent informed them of any changes.

 

QQ will normally pass it on to a DCA, or if the offer of repayments are high enough, they keep it in house, but the main thing you need to do is get your finances sorted first. This may mean contacting your bank and telling them to deny all payments to Quick Quid and their merchants, or even better, opening a new account with a different bank to secure your money until all this is sorted.

 

You say you were in an IVA when you took out the loan. You need to be VERY careful now, as this could cause your IVA to fail.