Quick Quid Loan Has Moved to Motormile Finance UK. Who Should I Pay?

Q: Quick Quid loan has moved to Motormile Finance UK. Who should I pay? ~ Lee, Preston.

Motormile Finance UK is a debt purchaser and so the loan account that you held with Quick Quid (branded as QuickQuid) has now been closed. When this account sale went through you should have received confirmation of the transfer in writing. What’s important now is that you are looking to get this balance settled and done with. The problem faced is that a default would have been registered on your credit profile. This will unfortunately remain on your report for the period of 6 years that will make it difficult to access credit elsewhere. Whilst there is a waiting game, you can help your cause by getting a “Satisfied” marking once this has been paid.

This query was actually one of several linking this company to payday lenders. They have only been around since back in 2009, but they have grown very quickly through their primary focus on bad credit short term lenders. They’ll be purchasing said accounts at competitive prices that rival DCAs will have struggled to match. This seems likely through the fact that they have been linked to such a wide selection of big firms such as Lending Stream, Mr Lender and WageDayAdvance. As a debt purchaser, they’ll likely be aggressive through their collection tactics. It is worth adding however that they aren’t listed under Court Action through the CSA as they once were.

Regardless of how aggressive they are likely to be in regard to home visits, legal proceedings etc you are best off paying Motormile Finance UK as soon as you can to ease that default marking. This Leeds-based collector (also known as MMF) has one website located at www.mmile.com. Although you can pay them here, there is no encryption used and so you’d be advised to deal with the matter by phone. You may already have planned on contacting them to negotiate a repayment plan anyway. Their phone number is 0113 8876 876. The listed contact times run as Monday to Thursday (8am/8pm), Friday (8am/6pm) and Saturday (9am/2pm).