provident personal credit

Rachman_2

Seriously, these people are in it to make money - not to help you.

Try putting yourself where they are, lending to people usually with appalling credit history and often already with defaults. What rate would you consider they need to charge to make the business work ? Plus they will always price to the limit of what the market will take - blame lots of other people for the rates being that high then ask why. It's not a surprise that the repayments tend to be less than benefit payments....

Having said that, these are usually on small amounts of money (in absolute terms) - so rates will often be higher, plus they are unsecured, they are against people with no assets and with other debts.

I second (or is it fifth by now) credit unions and the like - but I would also ask you to think about what you want the cash for. If it's to pay off a lender, do a deal with them, if it's to buy something - can you really not wait and save (after all, given their rates you would need to save for only a couple of months at their repayment rates to buy then for cash what you would be in hock for 6 months for - do you really need it today) - if you need to sell something to pay for it - Ebay can get you money.

Don't use these people - it's like the ads on the telly, we were £15K in debt because we spent a lfiestyle we don't earn, we had CC debts and tatalogue debts and bank loans, one easy call to Kneecap Finance and we got all our short term debts consolidated over 25 years against our house and had enough left for a holiday as well..... - if you can't spot the obvious stupidity of these (in most circumstances), then you probably should not be taking credit in the first place.... -there are people out there who can deal with your debt problem in a much better way - if you are considering these short term financings then you are already proving you need to talk to them and it's better to know when to stop digging.

[sorry if I come across as harsh again, it's meant to be blunt and direct]

lynzpower

Please dont take one of these. Many a client of mine has found themselves burned Id sooner get a catalogue than this if its something you COMPLETELY need. If you are on benefits you can get a crisis or budgeting loan, look at this before Provident.

There is a huge thread on Provident loans in the loan section. No one is saying anything good about the product.

Completley agree with Rachman here, whatever it is you probably dont NEED it ( unless youve had your front door kicked in & need to replace, I cant see any other URGENT eventuality thats worth Prov loans for) Save up, or sell something to pay for it.

Sorry, but these loans are the worst.

silvercarmel

Thank you all very much for your help, i will not be getting a loan now, iwill be taking your advice and selling some stuff on ebay xxxxxx
Thank you all once again for your advice
Carmel :beer:

Emmzi

Good luck Carmel - let us know how sales go!

And I really would look into credit unions - a much better bet! Worth finding a pound or two a week to put in asap so if you need a loan in future, you have some goodwill built up already :-)

THE_LONE_RANGER_4

i watched a programme on these and another called shopacheck stay well away they will have you in debt for years , my wife worked for a credit union in our area she managed to get loads of provident shopacheck customers to sign up and finally got rid of the these low lifes dont even consider it the programme told some real horror stories

savvysass

I live on a local authority housing estate and the amount of doorstep collection agencies that call at my neighbours houses is beyond belief! Not only are they paying for most of their white goods and electrical items via a slot in their televisions they are dealing with 5 or 6 "callers" per week for loans they have taken out.

Every week we have people knocking on our doors offerings us mobile phones/vertical blinds/shopping vouchers etc at only x number of pounds per week. it is easy to understand how people get in real trouble with these people once they realise that all these 2 and 3 pounds per week to each of them have added up to half if not more of their benefit entitlement.

fizzel81

i notice no one has said they have used/currantly use this company, i know im going to take a slateing for this but we first used them at christmas for shopping vouchers to get a few presents for the boys addmittedly we paid it off a bit quicker than the 20 weeks given and yes had to use them again so we could buy ds2 a car seat (he had outgrown the baby one) once these are paid off the only way i am going to be able to afford to buy my double buggy is the same way we have tried freecycle for one with no luck at all and dont have an ebay account so that is not an option. i have considered trying to do without one but there is going to be less than 12 months between the 2 of them. i know this company are not ideal but they do serve a purpose when you have no other way of buying something needed

dottyanne

From what i've read/seen this is a big no no !! Dont they charge extortionate rates of interest?? I wouldnt touch them with a bargepole!!

TheAble

Robnange, do not UNDER ANY CIRCUMSTANCES take a loan from Provident, it may seem cheap as the monthly payments are low but you pay it off for ages. The APR is so high.

Again, please DO NOT take a loan from these people. There are way better alternatives, try https://www.zopa.com or https://www.moneysupermarket.com

silvercarmel

Hi Took someones previous advice from this posting and have ordered from my friends catalouge, wont get one myself as i know id be no good , think i "spent" nearly 2 grand just looking through it!!!!!!!!!!!!
Cheers for everyones advice
Carmel x