What is a Quick Quid loan?
Quick Quid was a payday loan direct lender with a memorable name! It offered a flexible approach to lending, helping people who needed cash fast. One of the biggest names in the UK lending scene, Quickquid loans were famous for being paid into your bank on the same day and for their quick and easy online application.
However, as you might have seen in the news, QuickQuid went into administration on the 25th of October 2019. In June 2022, their website was finally taken down. There is now no way to get a loan from Quick Quid.
Looking for a Payday Loan from Quick Quid?
The great news is that My-Quick Loan offers loans like QuickQuid to our new or existing customers. That means you can still get money in your bank account fast when you need it!
Our fast and straightforward loan service helps people like you find a QuickQuid alternative for your loan. Whether you have a great credit rating or a poor credit history, need cash for an unexpected bill or need a fast answer to your money problems, My Quick Loan can help.
How Does My-Quick Loan Work?
My-Quick Loan is proud to offer fast short-term loans as a quickquid alternative.
Unlike a traditional loan from a bank, at My-Quick Loan, you only need to make one application which will be seen by a large panel of Finance Conduct Authority (FCA) approved lenders in the UK. Our award-winning software automatically matches you to the best loan available for your circumstances. This is done by finding a lender willing to lend you money and offering the lowest amount of interest.
What Loans Do My-Quick Loan Offer?
Here a My-Quick Loan, we are proud to offer a quick loan product that ranges from £100 to £5,000. This can be paid back over a 1-month to 36-month period. We are not a direct lender but can find an FCA-approved payday loan lender in seconds. Our services are for you if you’re looking for safe QuickQuid alternatives.
Our interest rate is 79.5% APR (Variable).
To be eligible for a loan from My Quick Loan, applicants need to meet certain criteria.
- Age Requirement: Applicants must be at least 18 years old.
- Residency: Applicants should be a resident of the UK.
- Employment Status: Stable employment or a regular source of income is often required to ensure the borrower’s ability to repay the loan.
- Active Bank Account: An active bank account is necessary for the loan amount to be deposited and for repayments to be debited.
- Credit History: While some lenders cater to individuals with bad credit, a credit check is typically conducted to assess the borrower’s creditworthiness.
- Valid Contact Information: A valid phone number and email address are essential for communication purposes.
- No Outstanding Defaults: Some lenders may check if the applicant has any outstanding loan defaults or significant debts.
Award winning and regulated
We are FCA regulated but also adheres to ASA and ICO guidelines, ensuring our operations are transparent. Our dedication to excellence is further exemplified by our 5-star reviews and the prestigious accolade of “Best Loan Company 2023”, as highlighted here.
Don’t just take our word for it. Here’s what our satisfied customers have to say:
- “I needed a quick loan and came across My Quick Loan. The site was fast, and the application process was straightforward. Received my money in minutes!” – Jill Trafford
- “Quick, Simple, and super user-friendly. Highly recommended!” – Lily Brassington
- “When I was in dire need of urgent cash, My Quick Loan came to my rescue. Exceptional service!” – Sreedhar
FAQs on My Quick Loan
Why choose My Quick Loan over other Quickquid alternatives? My Quick Loan offers a seamless application process, a vast panel of FCA approved lenders, and a commitment to speed and efficiency. Our accolades, such as the “Best Loan Company 2023” award, further attest to our excellence in the industry.
How quickly can I expect the loan amount in my account? Most of our customers receive their funds on the same day of application, staying true to our brand promise of speed and efficiency.
Are there any hidden fees or charges? Transparency is at the core of our operations. All terms are clearly outlined, ensuring there are no hidden surprises.
How does My Quick Loan ensure responsible lending? We are regulated by the FCA, ASA, and ICO, ensuring that our lending practices are transparent and ethical.
What if I face difficulties in loan repayment? We recommend seeking guidance from trusted debt charities like moneyhelper.org.uk. It’s essential to communicate any challenges you face, and we’re here to help.
Can I apply for a loan with bad credit? Yes, My Quick Loan works with a broad panel of lenders, some of whom cater to individuals with bad credit.
FAQs on Quickquid Loans
QuickQuid has gone into administration. Do I still need to pay my same day loan back?
All existing customers will still need to pay back their same day loan. You can do so by logging into your account on their website and choosing to pay back your QuickQuid loan. Be aware that making a late repayment on your loan can still affect your credit rating even though Quick Quid is no longer lending. It’s essential to pay off any debt you owe.
Are there any companies similar to QuickQuid?
Absolutely! If you’re looking at borrowing money in the short term to pay for an unexpected bill or cost, we can help.
My-Quick Loan will help you find the required short-term loans UK you are looking for. We accept loan applications without any unnecessary terms that need to be met so that you can get through the application process quickly. Plus, our lenders accept monthly repayments to help you spread the cost of your loan over time.
Why did QuickQuid go into administration?
The main reason why CashEuroNet, the owners of QuickQuid Loans, went into administration was that they had a surge of payday loan compensation claims against them since the FCA and Financial Ombudsman Service tightened the payday loan regulations. Many people were unhappy with their service.
Why is Quick Quid closing?
QuickQuid is closing because they have gone into administration. In 2019 QuickQuid stopped lending due to the complications of accepting too many clients who cannot afford to repay their loans in the agreed monthly repayments.
However, many people still rely on short-term loans to help them make ends meet. There are still lenders who can help. If you are still looking for something similar to a QuickQuid loan, My-Quick Loans UK can help find you the best payday lenders for your circumstance.
All the information for your Quickquid Alternative
Hopefully, you have all the information you need to make a correct and informed decision regarding your Quick Quid loan alternative. For more information, please visit our home page or blog section where you’ll find everything you need regarding loans in the UK.
Get your free loan quote todayAccess from £100 to £5,000
Representative 79.5% APR
Warning: Late repayment of payday loans can cause you serious money problems. For help, go to moneyhelper.org.uk.