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  • FIRST POST
    • paulofessex
    • By paulofessex 8th Mar 10, 6:43 PM
    • 1,665Posts
    • 1,283Thanks
    paulofessex
    Provident 'Fresh Start' a loan or not a loan?
    • #1
    • 8th Mar 10, 6:43 PM
    Provident 'Fresh Start' a loan or not a loan? 8th Mar 10 at 6:43 PM
    Sorry if this has been covered before.

    My partner recently agreed to take up the 'Fresh Start' option from Provident after they knocked regarding a old '3' mobile account of approx. £100 There is no disputing the amount, and since searching mse we now understand we could have told them no thankyou, however its owed and needs paying.

    Now the issue at hand is this. My partner made arrangements with the agent to pay on a monthly basis. This clearly hasn't been passed to the office as today she received a letter stating 'Over Due Payments' of loan agreement which of course they are not as the monthly payment had been made. However the disturbing issue is how the letter goes on about it being a 'loan' and how future missed payments could effect her credit status.

    Well Fresh Start is not a loan is it? Partners actuall total payment will be less than the £100 debt was for under the discount given by provident.

    How can they now call it a loan. The papers she signed makes no reference of % charge being added.

    Has anyone else come across this
Page 1
    • hermum
    • By hermum 8th Mar 10, 7:09 PM
    • 7,013 Posts
    • 6,890 Thanks
    hermum
    • #2
    • 8th Mar 10, 7:09 PM
    • #2
    • 8th Mar 10, 7:09 PM
    Hi, I've just looked on their site as I expect you have & not found anything about a fresh start option
    check out this link
    http://www.purpose-loans.com/?gclid=CPfytMHrqaACFRQulAod73e9Zw
    on a £300 loan typical APR is 272.2%,
    find anything & everything in your house worth selling & get it on ebay & get these people off your backs, once it's paid in full never answer the door to them again.
    That is of course only my opinion.
    • Enfieldian
    • By Enfieldian 8th Mar 10, 7:27 PM
    • 2,703 Posts
    • 2,739 Thanks
    Enfieldian
    • #3
    • 8th Mar 10, 7:27 PM
    • #3
    • 8th Mar 10, 7:27 PM
    If they have bought an old defaulted account then they are effectively "lending" you the money to pay it off, although no money has been advanced to you, they just own the debt which you then pay back to them weekly, I believe.....
    • adea
    • By adea 9th Mar 10, 9:58 AM
    • 354 Posts
    • 387 Thanks
    adea
    • #4
    • 9th Mar 10, 9:58 AM
    • #4
    • 9th Mar 10, 9:58 AM
    Did you get any proof that the person was actually from Provident?
    They are not allowed to cold call and also, as far as I know, Provident only lend money, they don't buy accounts.
    Is the communciation you are getting definitely Provident Personal Credit?
    I am not suggesting you are mistaken, just a little confused as to the fact provident are only a home lending company and i have never come across them acting as debt collectors.
    • nomoneytoday
    • By nomoneytoday 9th Mar 10, 11:21 AM
    • 4,649 Posts
    • 2,796 Thanks
    nomoneytoday
    • #5
    • 9th Mar 10, 11:21 AM
    • #5
    • 9th Mar 10, 11:21 AM
    Maybe the agent that bought your 3 debt also worked for Provi.
    Then they could get credit for clearing an old debt, and commission on the new debt?
    • amersall
    • By amersall 9th Mar 10, 11:26 AM
    • 16,435 Posts
    • 18,444 Thanks
    amersall
    • #6
    • 9th Mar 10, 11:26 AM
    • #6
    • 9th Mar 10, 11:26 AM
    take a look at this http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/210301-provident-collecting.html
    seems they have been doing this for some time. i think its outrageous
    Last edited by amersall; 09-03-2010 at 11:28 AM.

    • Cumbrian Male
    • By Cumbrian Male 12th Mar 10, 10:16 PM
    • 1,488 Posts
    • 689 Thanks
    Cumbrian Male
    • #7
    • 12th Mar 10, 10:16 PM
    • #7
    • 12th Mar 10, 10:16 PM
    Sorry if this has been covered before.

    My partner recently agreed to take up the 'Fresh Start' option from Provident after they knocked regarding a old '3' mobile account of approx. £100 There is no disputing the amount, and since searching mse we now understand we could have told them no thankyou, however its owed and needs paying.

    Now the issue at hand is this. My partner made arrangements with the agent to pay on a monthly basis. This clearly hasn't been passed to the office as today she received a letter stating 'Over Due Payments' of loan agreement which of course they are not as the monthly payment had been made. However the disturbing issue is how the letter goes on about it being a 'loan' and how future missed payments could effect her credit status.

    Well Fresh Start is not a loan is it? Partners actuall total payment will be less than the £100 debt was for under the discount given by provident.

    How can they now call it a loan. The papers she signed makes no reference of % charge being added.

    Has anyone else come across this
    Originally posted by paulofessex
    Yes it is a loan but it is an interest free one.

    If you didn't settle in full and signed an agreement then Provident has bought the old 3 account from the DCA it was passed to.

    Ring the local office the number should be on the payment record book and ask them to check the account is set up as monthly on the computer, I'm betting it isn't.

    I am a Provident employee.
    I have a cunning plan!
    Proud to be dealing with my debts.

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