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Money Box: What's next for QuickQuid borrowers?

What's next for QuickQuid borrowers?

BBC Radio 4 - Money Box, What's next for QuickQuid borrowers?

Payday lender lender QuickQuid enters administration. Where does that leave its customers?

QuickQuid stops lending, the mother of a money mule shares her story, and the £1.2 million plumbing bill.

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

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What's next for QuickQuid borrowers?

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