PDL companies generally harder to negotiate with?

ferry

Helping out a neighbour with her dmp and has revealed she took a loan out recently with Quick Quid. She wants to manage this herself but is concerned that negotiation with them for a payment plan may be more difficult with them being a PDL company?
I have no experience myself with them so asking if her fears are likely to be correct?
Thank you


Fx

Willing2Learn

The regulations and guidance that PDLs have to follow is no different to those used by other types of lenders. Your friend needs to do an I&E document as evidence of what payments are affordable (or not).

[Deleted User]

Sorry no recent experience of 'short term loans' but I found QQ OK - I dealt with them back late 2011 - got a 4 month plan and was only charged £12 for breaking the agreement/default charge under oft regs at that time, my account wasn't raided and they were paid successfully by DD etc.

They weren't the worst and I imagine they are even more amenable these days.!