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Guidance to clients as pay-day loan provider QuickQuid appears set to shut

Guidance to clients as pay-day loan provider QuickQuid appears set to shut

The organization was indeed the main topic of tens and thousands of complaints

Clients of pay-day loan provider QuickQuid that have unresolved complaints or loans that are outstanding dealing with doubt because it emerged the business intends to shut.

In present months, the Financial Ombudsman Service (FOS) is coping with several thousand complaints pertaining to CashEuroNet UK, which trades as QuickQuid.

This so far, the ombudsman service has been coming down on the side of the consumer more often than not – with 59% of complaints made to it about CashEuroNet UK between January and June being upheld year.

With doubt nevertheless surrounding what the knock-on impacts will likely to be after news that QuickQuid would be to shut its doorways, the ombudsman place a short statement on its web site on Friday which read: “Our company is alert to reports that CashEuroNet, including the QuickQuid trading title, may be leaving the united kingdom market.

“we’re trying to know very well what this implies for complaints concerning the company and will be supplying extra information to customers asap.”

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John Cullen, company data recovery partner at accountancy firm, Menzies LLP, said: “For previous clients, whom feel they’ve been taken benefit of and therefore are in monetaray hardship, the long term remains uncertain, due to the fact worth of any settlement payouts will depend on the now procedure for shutting the business. Continue reading