Quick quid direct debit

marldor

I got a loan of £50, just to pay for an emergency.
I set up the direct debit, and there were 3 payments I needed to make.
Quick quid took the first two payments on the dates they set.
When the final payment was due, i got an email the next day saying my payment was late, and I was charged £15! I thought the direct debit was automatic, and the money would be taken out of my account, but it has not. Now I have to pay £70 which leaves me with nothing until next friday. Why was my money not taken out automatically?

forgotmyname

If you had the funds available prior to the date then Ask them?

DCFC79

Ask QQ, Id be concerned if it were to happen next month, look at your spending and cut back.

marldor

I had enough money in my account to pay for it! But they still did not take it out.

dresdendave

As mentioned in a previous reply, assuming funds were available on the due date, ask QQ why they didn't take the DD and demand a refund of the £15 charge.


Also you should take this as wake up call and look at the bigger picture. Strip all spending to the minimum, look to increase income and build up an emergency fund. You shouldn't have to resort to PDL's when you have a short term emergency. Post an SOA on the DFW board and you will receive friendly advice on how to best achieve this.

[Deleted User]

marldor wrote: »

Why was my money not taken out automatically?

Ask QQ as to Joe Public. Please.

The most helpful thing about the FOS was I found they gave out live contact details. This sort of thing needs reporting.

I'd have thought there was something else to worry about and more importantly, A 'late payment' in these lender's eyes can see your report marked so you are best getting onto this now.

I was charged £12 by QQ back in 2011 but I asked for a repayment plan so go right ahead and contest.

jonesMUFCforever

OP You also need to check your bank account carefully - did you have any pending transactions which would have reduced your available balance for instance.
Sometimes a balance on your statement does not tell you the full story.

DCFC79

marldor wrote: »

I had enough money in my account to pay for it! But they still did not take it out.

My bad you did say that, should really not post when still half awake.

Fireflyaway

Get in touch and ask them what happened. If it was their mistake ask that the late fee is refunded. Was the direct debit due on your payday? I had a few issues with payday companies in that they tried to take the money dead on 12pm but the money wasn't in my account till 2pm. Could it be that?
Most important try to avoid this happening again. This is not meant to be patronising as I have been there myself. Payday loans are not only a rip off, they look bad to lenders and often lead to re loans and a cycle of debt. Put just a few pounds to one side each month to build a little emergency fund,so when an emergency happens you are prepared.

jonesMUFCforever

OP Can I ask one more question?
Are you sure repayment was made by direct debit or a continuous authority on your debit card?

Reason I ask? A failed d/d would show on your bank account (unless it is TSb) but a failed card transaction would not.

StopIt

As above, these guys usually use a CPA, not direct debit.


That means they can take your money at any time, so a failed payment outside of not having the funds or you cancelling the CPA is entirely on them.


Complain, loudly.