Provident & Greenwoods

Jaks

My Partner & I both have loans with Provident & Greenwoods. We are planning on going Bankrupt, we have an appointment with the CAB in the morning.

Has anyone who has gone Bankrupt had either Provident or Greenwoods as one of their creditors?

If so how to you stop them coming round to collect the weekly payments? Do you tell the agents or write to the company direct and tell them about the entending Bankruptcy?

Also is it ok to stop paying these company's in order to save the bankruptcy fees? It will be the only way to save the Bankruptcy fees as we are on Benefits and do not have enough for the fees without doing that.

It would take as around 6-8 weeks to get together the fees if we can stop paying them

Jaks

gilligansyle

Generally if you tell the agent you are taking advice from Debt Management Company, they will be told by Head office not to call anyway. Depends on the relationship you have with the agent whether you just contact Head Office. Once they know you can't pay and that this is one of a list that aren't getting paid, they shouldn't send arrears managers out.

Friend who was facing repossession and was, quite rightly, not really paying everyone else in order to pay the rent, found that Greenwoods were easier to deal with than the major lenders. Probably because the interest is already on the account, so they aren't really losing anything.

Jaks

Thanks for the reply,

With most of the accounts the original loan has been repaid - just the interest remaining.

Is it ok to stop paying them to save for Bankruptcy fees? or do I have to offer them say £1 a week until our Bankruptcy date?

Jaks

deedee_3

If you plan to go bankrupt in the next month or two it is ok to stop paying all debts to save for the fees.

I am sure if you are worried about talking to Greenwoods and Provident the CAB will be happy to speak to them on your behalf.