Quick News

Last week we documented how banks are using and tracking people’s social media presence and profile to help them make a decision when a customer submits a loan application. We highlighted the kind of things that they were looking for, such as whether it appears that a person is always out socialising (i.e. spending money)…

Martin Lewis is back with more outlandish claims. This time he claims 100,000 attempt suicide each year while in debt. We question his statement and his tone and find his claims don't add up. First of all, Martin is a tricky character. He is hard to argue against because he often says things to virtue…

If ever there was an indication of mission creep, then it is the futile attempt of regulators to cap the cost of credit. Just as mission creep brought down the mighty US in Vietnam, so will Price Caps in "Rent to Own" for the FCA. In 2014 the FCA brought in caps for the High-Cost…

Ministers resigning, virtue signallers kicking off and nobody interested in the evidence, this is the UK 2018. If politicians were bothered, then there are solutions in front of them. As an industry, the lending market had to change dramatically in 2014-15. We did, and not for the best. The politicians who were virtue signalling for…

Our readers tend to know the basics of applying to a bank or building society for a loan. Most people are aware that these organisations have to run credit checks to determine if there have ever been any missed payments and establish if there are any potential problems in lending money to particular persons. It’s…

Media reports that the head of the CofE (Church of England) - Justin Welby - intends to buy Wonga’s loan book highlights a shameful PR stunt that is a symbol of all that is wrong with the virtue signalling class. In fact this is an all time low even for them. For one, and why…

We all know that as finances have been squeezed tighter than they ever have been that people have had to find different ways to access cash when they have fallen short at the end of the month. People have approached banks for extensions on their overdrafts and others have gone to payday lenders when they…

Everything we do at Quick Loans is about speed, but this time it is your chance. We are holding a competition to and the winner will receive a drive in a real F1 Car. You don’t need to get a loan from us to enter. Don’t worry, 99.9% of those entering won’t have taken a…

We sit in in the office here at Quick Loans and chuckle to ourselves as some people claim glory for killing Wonga. The truth is a lot stranger than many of you would actually know. It is actually the last group you would expect. OK, this is the real story behind what killed Wonga. When…

We wrote an article several years ago asking why after discussing the issue with the FCA, Wonga would in 2014 voluntarily pay and write off around £200m in compensation to stay in a market which is worth £30m a year in total. On the face of it, It seemed incredibly stupid. Especially as Wonga hadn't…