Quickquid Loans Review, Login, Contact Number, Alternatives

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QuickQuid was a British payday loan company that provided short-term loans to consumers. It was one of the prominent payday loan lenders in the UK. However, QuickQuid is no longer in operation. It was one of the largest payday loan companies in the UK, and its closure was a significant event in the payday lending market.

In October 2019, QuickQuid’s parent company, CashEuroNet UK LLC, went into administration after facing a significant number of complaints and regulatory issues regarding its lending practices. This led to the discontinuation of QuickQuid’s services, leaving its existing customers with outstanding loans or compensation claims.

QuickQuid Loan Review

QuickQuid offered short-term loans of up to £1,000 over a period of 30 days. The interest rates on these loans were very high, with a Representative APR of 1294.1%. This means that for every £100 borrowed, the borrower would pay back £129.41 in interest and fees.

QuickQuid was criticized for its high-cost lending practices. The Financial Conduct Authority (FCA) found that QuickQuid had made loans to borrowers who could not afford to repay them. The FCA also found that QuickQuid had not done enough to help borrowers who were struggling to repay their loans.

The closure of QuickQuid was a result of a number of factors, including the regulatory changes introduced by the FCA, the increasing competition from other payday lenders, and the growing public awareness of the dangers of high-cost lending.

QuickQuid Contact Number

QuickQuid is no longer trading, so there is no contact number for the company. If you have any questions about your QuickQuid loan, you can contact the administrator, Grant Thornton, on 0800 056 1515.

Here are some other contact numbers for organizations that can help you with payday loans:

  • StepChange: 0800 138 8020
  • National Debtline: 0808 808 4000
  • Citizens Advice: 0808 223 1113

These organizations can provide free and impartial advice on payday loans and other forms of debt.

QuickQuid Login

QuickQuid is no longer trading, so there is no login page for the company. If you had an account with QuickQuid, you can no longer access it.

If you are looking for a payday loan alternative, there are a number of responsible lenders available. These lenders offer loans with lower interest rates and fees, and they are more likely to consider your application if you have a poor credit history.

Here are some payday loan alternatives:

Moneyboat: Moneyboat is a UK-based short-term lender that specializes in offering installment loans. They are committed to responsible lending practices and emphasize helping borrowers manage their finances effectively. Moneyboat aims to provide borrowers with more reasonable interest rates and flexible repayment terms compared to traditional payday loans, making it a suitable alternative for those in need of short-term financial assistance.

Amigo Loans: Amigo Loans is a guarantor loan company operating in the UK. They require a friend or family member to act as a guarantor for the loan, which often leads to lower interest rates for the borrower. Amigo Loans provides an alternative to high-interest payday loans by offering loans with more manageable rates and a focus on responsible lending.

Zopa: Zopa is a peer-to-peer lending platform based in the UK. Borrowers can apply for personal loans through Zopa, and these loans are funded by individual investors. Zopa typically offers competitive interest rates and flexible loan terms, making it a viable alternative to payday loans for those seeking more affordable borrowing options.

Cashfloat: Cashfloat is a short-term lender in the UK that provides payday loans and installment loans. They are known for their transparent lending practices and responsible lending policies. Cashfloat offers borrowers options for more flexible repayments and aims to help individuals bridge short-term financial gaps responsibly. It serves as an alternative for those who need quick access to funds but want to avoid the high costs associated with traditional payday loans.

Each of these alternatives offers its unique features and benefits, catering to different financial needs and situations. However, it’s important for borrowers to carefully review the terms and conditions, compare interest rates, and assess their ability to repay the loan before considering any lending option to ensure responsible financial management.

More Alternatives

Seeking more better alternatives to payday loans, like QuickQuid, is a wise choice due to the high-interest rates and potential financial pitfalls associated with such loans. Here are some alternatives to consider when you need quick access to funds:

Emergency Savings Fund: If you have an emergency fund, this should be your first source of funds for unexpected expenses. If you don’t have one, consider starting to save for emergencies.

Credit Unions: Many credit unions offer small, short-term loans with lower interest rates than traditional payday lenders. They are often more willing to work with you to find a suitable solution for your financial needs.

Personal Loans: You can explore personal loans from traditional banks, online lenders, or peer-to-peer lending platforms. Personal loans generally have more reasonable interest rates and flexible repayment terms compared to payday loans.

Credit Card: If you have a credit card with available credit, it can be a better option than a payday loan. The interest rates on credit cards are typically lower than payday loan rates.

Borrowing from Family or Friends: While borrowing from loved ones can be tricky, it’s often better than paying high payday loan interest rates. Be sure to establish clear terms and repayment plans to avoid potential conflicts.

Local Assistance Programs: Many local community organizations and charities provide assistance to individuals in financial need. These programs may offer help with rent, utilities, or other essential expenses.

Employer-Based Loans: Some employers offer salary advances or loans to their employees in times of financial need. Check with your HR department to see if this option is available.

Online Peer-to-Peer Lending: Peer-to-peer lending platforms connect borrowers with individual investors. Interest rates can be competitive, and the application process is typically straightforward.

Government Assistance: Depending on your situation, you may qualify for government assistance programs, such as unemployment benefits, food assistance, or housing assistance.

Negotiate with Creditors: If you’re facing financial difficulties, contact your creditors to discuss your situation. They may be willing to negotiate and provide temporary relief, like lowering interest rates or extending repayment terms.

Side Hustle or Gig Work: Consider taking on a part-time job, freelance work, or a gig job to supplement your income and cover expenses.

Credit Counseling: Seek help from a reputable credit counseling agency. They can provide advice on budgeting, debt management, and negotiating with creditors.

Remember that it’s crucial to carefully assess your financial situation and explore these alternatives before resorting to payday loans. Avoid falling into a cycle of debt, and make informed decisions to improve your financial stability.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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