Quick Quid

mrs_skint

Could someone please give me advice on a payday loan? I very stupidly took out a payday loan (not for the first time!!) last month. It's going to be impossible to pay it all back this month so I have requested a rollover. Problem is I know I'm not going to be able to pay it back next month or the month after (I owe £720 which includes the interest). I was thinking of asking them to accept payments over 4 or 5 months but after reading some of the horror stories linked to these people I'm not sure what is the best thing to do. The thing I don't need at the minute is a default on my credit file. I know I'm stupid but my kids need to eat and this was a bit of a desperate act! Never again though. Any advice appreciated. Thanks x

nomoneytoday

£720 to eat?

Seriously, give them a call. That's the only way to come to an agreement IMHO.

mrs_skint

NOPE not just to eat and there's no need for sarcasm I aint in the mood luv

mrs_skint

BTW do you honestly think that if I gave these people a call that they will agree to a payment plan? I don't think so!

lee1985

mrs_skint wrote: »

BTW do you honestly think that if I gave these people a call that they will agree to a payment plan? I don't think so!

Skint there's no need to be moody with the comment above ^
At least he offered some advice, which you asked

If you don't give them a call how are you meant to come to a solution for the problem? There really is no other advice to give. You owe money, they will be expecting the money, either you compromise with them or you just take matters into your own hands (which is not an advisable option at all) but either way, it's either contact them or don't. Not much to help with here!

I'm not being funny but the way - but surely you weren't expecting advice that didn't have anything to do with contacting them? Because how is one meant to help otherwise.

wayne99

quik quid are a difficult bunch to deal with iam afraid so this wont be easy for you. sorry.

They only accept payment plans when you miss your first repayment.

The only way you will miss your repayment is to cancell your debit / credit card that has been used for the repayments, just tell your bank its been lost or stolen and they will issue you with another one.

QQ will only accept a payment plan over max 4 months, no more.

if you dont accept that they will hound you with computerised emails, and constant phone calls all day long.

All of there emails are automated so asking them to spread over a longer period wont happen.

They can accept repayment by direct debit, thats the best choice to be honest as if they decide to take the whole lot and not stick to the repayment plan you can reclaim the money via a direct debit indemnity claim with your bank.

i had an issue years ago with QQ, i told them in the end that my bank had removed my debit card facility so it forced them to use direct debit to collect.

a word of warning, they will more then likely put a default notice on your credit report (Call Credit) even if you stick to the payment plan, and they will not answer your letters when they have done this (i know from experiance)

you may be lucky with the default notice as long as you stick to the repayment plan, but dont count on it iam afraid.

good luck.

mrs_skint

wayne99 thank you for your advice x