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.
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Post Date: October 25th, 2019