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

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

The financial institution – that provides short-term loans with prices as much as 1,300 % interest – could collapse within times, with Wonga’s administrators Grant Thornton lined up to do this the same work with QuickQuid, in accordance with reports from Sky News.

It can mark another casualty in Britain’s cash advance market considering that the Financial Conduct Authority introduced stricter guidelines in 2014 and 2015.

This introduced greater affordability checks and capped the quantity borrowers could pay off at twice the amount they borrowed.

QuickQuid claims to have 1.4m customers plus the true wide range of complaints about this is continuing to grow massively in the last few years

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