What's next for QuickQuid borrowers? - podcast episode cover

What's next for QuickQuid borrowers?

Oct 26, 201933 min
--:--
--:--
Download Metacast podcast app
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more

Episode description

The payday lender QuickQuid has entered administration. It follows an earlier announcement of plans to close its business in the UK where it was the largest firm of its type. It's owned by the US-based company Enova which gave "regulatory uncertainty" as the reason for departure. What does this mean for existing borrowers and also for customers awaiting compensation for loans they say they should never have had because there's no way they could afford to repay them? Guest: Martin Lewis, founder of Money Saving Expert.

Money Box listener Elaine reveals how her 18-year-old son was bullied into becoming a money mule, which saw him laundering cash from criminal activities through his personal bank account. Guest: Detective Sargeant Marc Cananur from the Kent Police Economic Crime Unit.

An expensive plumber's bill - but not the sort you might be thinking of. Murray Menzies paid into a pension scheme for his employees and now faces a £1.2m bill triggered by his decision to retire and close down the small family firm. Guest Katie Banks, Partner at Hogan Lovells and Chair of the Association of Pension Lawyers.

Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Bridget Harney

For the best experience, listen in Metacast app for iOS or Android