Quickquid Problem

Daveswindon

Hi All,

I am having major problems with a debt to Quickquid and am in need of some advice.

I had a loan which i couldnt afford to pay back after rolling it over several times so i cancelled the direct debit. I am now trying to arrange a payment plan but they are being very difficult to arrange it with. I will only pay the capital back plus one months interest, but they are insisting i pay the capital plus two months interest and missed payment charges. They are also refusing to give me their bank details so i can pay by standing order.

Just checked my noddle file to find they have posted two defaults for this loan. Is this legal for one loan? Also i have never received a letter informing me that they are going to post a default.

Any ideas on what to do now?

Thanks, Dave

matttye

Daveswindon wrote: »

Hi All,

I am having major problems with a debt to Quickquid and am in need of some advice.

I had a loan which i couldnt afford to pay back after rolling it over several times so i cancelled the direct debit. I am now trying to arrange a payment plan but they are being very difficult to arrange it with. I will only pay the capital back plus one months interest, but they are insisting i pay the capital plus two months interest and missed payment charges. They are also refusing to give me their bank details so i can pay by standing order.

Just checked my noddle file to find they have posted two defaults for this loan. Is this legal for one loan? Also i have never received a letter informing me that they are going to post a default.

Any ideas on what to do now?

Thanks, Dave

It's illegal to post multiple defaults for one debt and they should have given you 14 days notice in order to rectify the position. Report them to the Office of Fair Trading and the ombudsman. You'll need to wait eight weeks after making a complaint to QuickQuid for the ombudsman to do anything so complain in writing.

Tell QuickQuid you will only pay the loan plus one month's interest and they want any more money they'll have to take you to court. It's highly unlikely that they will take you there as they would have to try to justify their absurd charges to a judge and they would get laughed out of court.

Write to QuickQuid and your bank telling them all you withdraw permission for QuickQuid to debit your card under Regulation 55 of the Payment Services Regulation 2009. In the letter to your bank indicate that you will be entitled to a full refund if they ignore your instructions.

Don't be bullied

harveybobbles

Ask QQ to send you a letter stating that they are refusing to give yoiu their banking details.

Daveswindon

Thanks Matty,

I have already spoken to the bank to stop any payments going through.

Quickquid say the two defaults are one for the rollover and one for the original amount plus interest.

I am sticking to my guns and will only pay the original amount plus one months interest.

Dave

Daveswindon

Hi Harvey,

I already have several emails saying they only accept payments by direct debit and debit card and they will not accept standing orders.

Dave

matttye

harveybobbles wrote: »

Ask QQ to send you a letter stating that they are refusing to give yoiu their banking details.

Yep good idea! Or just request their details in order to set up a Standing Order in writing.

If they then try to add charges for non-payment, they would have to explain to any court (or the ombudsman) why they wouldn't provide their account details when requested.

Your justification not to allow them to set up a direct debit/continuous payment authority is that they are known to take more than agreed and have been known to empty people's bank accounts.

matttye

Daveswindon wrote: »

Thanks Matty,

I have already spoken to the bank to stop any payments going through.

Quickquid say the two defaults are one for the rollover and one for the original amount plus interest.

I am sticking to my guns and will only pay the original amount plus one months interest.

Dave

The rollover is not a separate debt and you will be able to get that removed. I think you'll also be able to get the original default removed if they haven't sent you a default notification.

Send them a Subject Access Request and a cheque for £10. If you do this make it abundantly clear the cheque is to meet the cost of the SAR and not to be paid towards your debt. There are standard letters on here for sending such a request if you need one.

Once you receive your data (if they ever provide it), you should hopefully be able to prove they never sent a default notice, unless they have fabricated something. They have 40 days to respond and if they don't respond in this time, complain to the Information Commissioner's Office.

harveybobbles

Daveswindon wrote: »

Hi Harvey,

I already have several emails saying they only accept payments by direct debit and debit card and they will not accept standing orders.

Dave

INSIST that they put this in WRITING. Thewy will soon go away.

wouldnt waste money on SAR at this stage.

Daveswindon

Hi Matty,

They have now emailed a copy of the default letter, dated December 2012, does this make a difference?

Dave

matttye

Daveswindon wrote: »

Hi Matty,

They have now emailed a copy of the default letter, dated December 2012, does this make a difference?

Dave

I've just read on the QuickQuid website this:

"How QuickQuid Loan Extensions Work
By extending your loan, you will only owe a finance charge on your next pay date, not the principal of your payday loan. The principal of your existing loan will be 'rolled over' into a new loan and you will be charged an additional finance charge. This will allow for you to wait until your next payday to pay off the full amount due on your loan. If you have a one-period loan, you will be able to extend your loan a maximum of five times. If you have a two-period loan, you may extend your loan a maximum of four times."

It appears that each time you roll over your loan it opens a new debt, however, if that is the case then each rollover should be subject to a new credit check, and clearly is not. They allow people to roll over loans five times. So basically that could result in somebody getting six defaults without actually borrowing any more money - just by extending the time to pay.

I can't be 100% sure without looking into it but that sounds VERY illegal to me. It sounds like it's just a way of them adding lots of default fee charges to the debt.

If you received a default letter at least 14 days before the default was applied then you can't argue that default. I'm going to try and see what I can find out about the rollover default though because it seems wrong.

Daveswindon

Hi Matty,

The default letter was only received by myself today via email. Its dated 28/12/12. The two defaults on my file are dated 31/12/12 for the rollover and 01/02/13 for the capital plus interest.

Thanks for your help,

Dave