logo

QuickQuid looks set to follow Wonga into administration

By rotide
Created 25/10/2019 - 15:12

Quick Quid, that sports a part slang English name but hails from the US and is the largest of  the proliferation of current so called " Payday" Loan companies, has pulled out of the UK, following the tightening of the rules on short term lending and non-payment procedures by the Financial Conduct Authority. The parent company, US Enova, has many thousands of outstanding claims for compensation, against the UK brand name CashEuroNet UK, for mis-selling and it remains to be seen how these will be dealt with as it follows another mega interest Payday loan company, Wonga into administration. Fast Buck might be a more appropriate name and not for its customers when they are lending to them at rates up to 1,300% pct when UK interest rates have never been lower.


 


Source URL:
https://www.newbusiness.co.uk/content/quickquid-looks-set-follow-wonga-administration