Britain’s biggest cash advance collapse since Wonga might be regarding the cards with QuickQuid from the verge of going into administration, based on reports

Britain’s biggest cash advance collapse since Wonga might be regarding the cards with QuickQuid from the verge of going into administration, based on reports

The financial institution – that offers short-term loans with rates up to 1,300 % interest – could collapse within times, with Wonga’s administrators Grant Thornton lined up to take action the exact same work with QuickQuid, relating to reports from Sky News.

Another casualty would be marked by it in Britain’s cash advance market because the Financial Conduct Authority introduced stricter rules in 2014 and 2015.

This introduced greater affordability checks and capped the total amount borrowers could pay off at twice the quantity they borrowed. Continue reading “Britain’s biggest cash advance collapse since Wonga might be regarding the cards with QuickQuid from the verge of going into administration, based on reports”