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Payday lender QuickQuid set to close following complaints

QuickQuid closure - what's happening? 

On Friday, 25th October 2019, payday loan company Quickquid entered into administration. They’ve not accepted new loan applications since then.

In the first six months of 2019, the Financial Ombudsman Service received over 3,000 complaints about QuickQuid - the UK's largest payday lender. During this time, 59% of cases against the company were upheld, although it's thought that a backlog of cases has now built up.

As a result, QuickQuid has announced that it will leave the UK market.

Can I get a refund on my QuickQuid payday loan?

Many customers have made claims for compensation, saying that they were given loans they couldn't afford to pay back. The amount of compensation people with eligible complaints will receive depends on the process of the company's closure.

I have a payday loan with QuickQuid, what should I do?

You should continue making your payments to the loan as normal. QuickQuid customers can continue using their services to manage their existing loans. The administration process won’t affect the repayment term of your loan and if you miss payments you'll be subjected to the firms standard debt collection process

We will continue to update this page as the situation develops.

If you have any questions, you can contact QuickQuid on 0800 056 1515. They’re open Monday to Friday, 8am – 6:30pm and Saturdays, 10am – 6:30pm. 

I’m a StepChange client with a QuickQuid loan, what should I do?

Continue making your monthly payment DMP or TPP to us as normal. We’re monitoring the situation closely and will make sure your payment gets to where it needs to be.

Your loan is still a qualifying debt and QuickQuid going into administration should have no impact on the success of your DRO.

Keep making your IVA or trust deed payment as normal. We’re monitoring the situation closely and will make sure your payment gets to where it needs to be.

Your QuickQuid loan can still be included in your bankruptcy or sequestration. QuickQuid going into administration shouldn’t impact your solution and your official receiver (OR) or Accountant in Bankruptcy (AiB) should be aware of the on-going situation.

I’m worried about my debt, what should I do?

If you’re worried about your QuickQuid payday loan or any other debts, you need expert debt advice. Our team of debt experts help 620,000 people a year to deal with their debt problems. Our free, impartial and confidential advice is tailored to your situation.