Provident Agent Error
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My partner has been using Provident for loans for the last couple of years, we are aware you pay silly amounts of interest but this is not about that.
At the start of the year she took out a new loan, the agent comes to collect the payment weekly and we always pay over what we should be paying.
But a few weeks ago he mistakingly changed a 9 for a 4 meaning instead of now owing 850 it is saying we now owe 350.
At present the agent has still not noticed his error, my question is this, as it is an agents error and not ours will we be legally made to pay back the full amount ? Or is the amount that the agent writes in the payment book each week legally binding ?
At the start of the year she took out a new loan, the agent comes to collect the payment weekly and we always pay over what we should be paying.
But a few weeks ago he mistakingly changed a 9 for a 4 meaning instead of now owing 850 it is saying we now owe 350.
At present the agent has still not noticed his error, my question is this, as it is an agents error and not ours will we be legally made to pay back the full amount ? Or is the amount that the agent writes in the payment book each week legally binding ?
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Comments
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no they generally have there own record on a tablet PDA etc , unless the payment made was showing as 500 + the amount you had made its a simple typo , that will be corrected next time0
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They will probably find the error at some point and correct it. You should make sure you have the money set aside for when they do find it.0
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They will probably find the error at some point and correct it. You should make sure you have the money set aside for when they do find it.
It is fine we are not behind on any payments at all, just an error he made a few weeks ago and has not been corrected, I think its about 6 weeks its been like it now.
No issue in paying it all back was just curious as to legally where we stood0 -
Look into credit unions because their loans are a lot cheaper.0
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OP would you be asking legally or morally if the error had been the other way?
What if he had written 9 instead of a 4 when you owed £400?
I think we all know the answer.0 -
You 'legally' owe what you've borrowed, plus interest.
But, you are under no legal obligation to point out their error, which will no doubt be noticed before long, since the agent will be liable for any shortfall.No free lunch, and no free laptop
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Give them a call and tell them. They'll be happy with you honesty, you'll be happy with your honesty, and the agent will be able to learn from their mistake.
Wins all round and the contract remains honoured
"Chuck Norris can remain solvent for longer than the markets can remain irrational"0 -
The book may be incorrectly added up but I am afraid that you will still owe the money regardless. It will be properly recorded the other end..0
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Give them a call and tell them. They'll be happy with you honesty, you'll be happy with your honesty, and the agent will be able to learn from their mistake.
Wins all round and the contract remains honoured
NO DO NOT RING THEM UP , this will cause embarrassment and problems for the agent that visits you
just quietly mention it the next time you see them , they will amend it in their own handwriting , and sign it if its obvious .0
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