A friend of mine recently asked me if I could help him with his QuickQuid account. He was unable to pay it back and wanted to set up a repayment plan.

I was not sure how successful we would be, given my previous experiences but thought I would try to see if we could set something up.

I said I would try to help him and see where we ended up. The first thing we did was to use the Live Chat facility QuickQuid offer on their website. We waited for a couple of minutes before being connected to an advisor.

Talking to QuickQuid

We asked if QuickQuid could provide information on their repayment plans as my friend would struggle to repay the loan. He would have been stuck rolling it over for a long time before managing to repay it in full.

After a short pause we were informed that we could enter into a pre default repayment plan. We asked QuickQuid what this would involve. Apparently you can only have one of these pre default plans if you have not had one in the last 12 months with QuickQuid.

QuickQuid will freeze interest on the Payday Loan and allow you to make four payments to repay the account in full. So for example if you owed £400 in total, you would make four payments of £100 and then the account would be paid in full.

Not a bad solution really and much better than when I experienced problems with paying QuickQuid in the past. So we went about setting this pre default plan up.

We were then informed that if a payment is missed, the account would go into default and a £12.50 missed payment fee will be charged. You would then be required to contact their collections department to set up a new arrangement.

Thoughts on the QuickQuid Pre Default Arrangement

So perhaps this is another alternative available to you if you are struggling to repay your QuickQuid loan. As I mention above, this is so much better than when I was unable to make payment and would have been a much better solution for me.

Setting up this pre default plan was very easy and my friend has the peace of mind knowing that the account will be fully paid after four months, without incurring masses of interest that you would normally get. So if you are struggling it might be worth contacting QuickQuid to see what they can do to help.

Share your thoughts on QuickQuid

If you have experienced repayment troubles with QuickQuid and would like to share you story, please comment in the box below.