The collapse of Quick Quid – is it all over for payday loan providers?

The collapse of Quick Quid – is it all over for payday loan providers?

Pay day loan businesses have actually struck the news headlines once again this week following a announcement that Quick Quid, the UK’s former leading payday lender, has entered management.

Enova, fast Quid’s owner, blamed regulatory doubt on its choice to stop trading. But, it really is commonly stated that fast Quid had been dealing with big volumes of complaints, along with 24 Financial Ombudsman rulings in preference of customers who’d reported which they was in fact loans that are mis-sold. (mehr …)