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The united kingdom’s biggest remaining pay day loan provider is always to shut, with a large number of complaints about its lending nevertheless unresolved.
QuickQuid’s owner, US-based Enova, claims it’s going to keep the united kingdom market «due to regulatory uncertainty».
Payment claims were made from clients whom stated these people were provided loans they are able to maybe maybe maybe not manage to repay.
It’s the latest firm providing short-term, high-interest loans to shut after regulations were tightened.
QuickQuid was the biggest payday lender in the united kingdom for the previous couple of years. It had been larger than home title Wonga also prior to the latter folded in August year that is last. The income Shop shut early in the day in 2010.
‘Sometimes there is no need just about any option’
Kenneth Barker took down 11 loans that are consecutive not as much as per year as he had been a barman in Essex in 2012.
«the one that is initial for ВЈ100. We repaid ВЈ160, then again required a ВЈ150 loan to tide me personally over when it comes to month that is next. It slowly worsened,» stated the 28-year-old, whom now lives in Leeds.
«to tell the truth, we knew the things I had been getting myself into, but often there is no need some other option.»