Quid market loans affordability complaint

chocnjb

Hi, I had taken 7 loans out with quid market over a 3 year time frame. The first one was 2020 so within a 6 year time frame.
i believe these loans were unaffordable for me and i was on a low wage and already taking out other payday loans ( I was unfortunately by myself with a young child) and got caught in a cycle.
i have sent a complaint to Quid market this week via email, they have said they will get back to me within 8 weeks.
Can I ask if anyone has complained to the same company before, and what was the outcome? I know it depends on personal circumstances. 

Also how long did the process take? 
Any advice much appreciated 
thanks 

MyRealNameToo

8 weeks is the backstop, at that point you can go to the ombudsman irrespective if they have come back to you or not. Most complaints receive a final response long before the backstop date. 

You may be interested in reading the one case in which an ombudsman has reviewed lending decisions by this firm:

https://www.financial-ombudsman.org.uk/decision/DRN-5369411.pdf

sourcrates

Its quite likely they will dismiss your complaint at first, that`s the normal default response.

You then of course escalate matters to the FOS, most people tend to win at this point, although it does depend on the individual circumstances.

Have a look on the debt camel website for information on affordability complaints.