QuickQuid is a company in the UK that offers short-term loans to their customers. They are registered with the Financial Conduct Authority (FCA). QuickQuid has recently come under attack because of recent incidents. However, there is a fraudulent firm with the same name. You will want to make sure that you are not being tricked. If you have any concerns, you can always contact the FCA for further information.
Some key points to note are that you will never be charged with any upfront fees or payments. If the firm asks you for this, you will know that it is not QuickQuid. Do not give any personal or financial details to people who claim they are QuickQuid without confirming they are, in fact, the authorised firm.
QuickQuid is a responsible lender company. Even though payday loan companies, in general, are not the best because of the high interest and short term if you do take out a loan you want to ensure that you are going with a responsible lender.
Their goal as a company is to help you in between paydays when you have unexpected expenses or temporary financial problems. They do warn you that you should not take out a loan if you do not think you will be able to have the funds to pay it back in time. You should think deeply before taking out a payday loan.
Understand what you are taking it out for, and see if there is any way you can wait a few months until a few more paychecks. If not, perhaps you can put it on a credit card and pay it within your next paycheck. Even though putting excess charges on your credit card is not great, the overdraft fee sometimes may be less than the high interest of a payday short term loan. If you have friends or family you can borrow from, you may want to consider asking them before taking on an extra loan that will hurt you financially both now and in the future.
QuickQuid will run credit-application checks on all of their customers before agreeing to lend them money. This is to help them understand your current situation and how much they should let you borrow. The credit check is not the whole process of the loan approval, so you need not worry if you have a bad credit score. Do remember though that when lenders run a credit application check, this will show on your credit report. This footprint is not necessarily a bad thing for you as long as you can repay the loan. However, if your credit report shows countless searches over a small period, it could become a problem. It may signify identification fraud or a substantial financial need on your part.
Payday short term loans should be avoided at all costs. However, if you do need money to get you through to the next payday because of an extreme medical or other emergency, you may consider a payday loan. QuickQuid may be a company you can include in your research as they can help get you back on your feet and back in a healthy financial state.