Quick Quid loan

mon2016

I had a loan with quick quid and was made unemployed, my payment schedule is

April - £92
May - £70
June - £450

I can afford the £92 and £70 but not the £450, however I could afford £100 per month from July onwards, this is the worst case scenario though. If i get work again within the next 6 weeks I can afford to repay it all on time.. I have had several loans with them in the past and always repaid on time.

if the worst came to the worse do you think they would let me repay the £450 over 4 months or would it be transferred to a debt collection agency?

I am weary of contacting them at this stage because for all I know this time next week I could have a job.

National_Debtline

Hi mon2016 and welcome to the forum.


If it came to the worst-case scenario you describe, you ought to ensure that Quick Quid are not able to simply raid your bank account for the scheduled amount regardless. If they are not able to automatically take the money out, well then they will have no choice but to listen to your repayment proposals. Have a read of our guide to dealing with payday loans:


https://www.nationaldebtline.org/EW/factsheets/Pages/41%20EW%20Payday%20loans/Default.aspx


Please remember that merely discussing a hypothetical problem with a lender is not the same as actually having that problem - no action is taken and nothing negative is reported to the credit agencies unless you actually miss the repayments.


Dennis
@natdebtline