Greenwoods Help

roamer2006

I have a greenwoods loan and cant afford to pay it what do i do? The manager is due out on tuesday help! They want me o pay £32 a week which i no longer can afford i have asked to have it reduced but they say due to arrears they cant do that.

Advice please

feisty1

I am shocked, i just looked at their website 399.7% APR This is just legalised loan sharks! First, pls dont get stressed & worried, do u have a friend who can sit in on the meeting? I imagine u r on quite low income, i would also see CAB who can support u on this

~Beanie~

How much did you borrow and how much is left on the loan? What arrears are there and how much was the original weekly payment?

nuttyp

I would contact the CAB monday. They can speak to them on your behalf, and get reduced the payments.If they get heavy with their talk, get the Office Of Fair Trading involved. The police will also be able to help, they are all anti rip off loan sharks. Why did you go to them att he beginning??? Can you post more info please

Shambler

Blimey near 400%, is this even legal?

I remember a couple who got their debt cleared because of an 'extortionate' interest rate and that was something like 40%.

fatbelly

At the CAB, we deal with greenwoods and provident (same company, based in Bradford) all the time. They are very easy to deal with but I would recommend not doing it yourself, but using a third party like CAB, CCCS or Payplan, and dealing with all your debts at the same time.

Once the CAB get involved, they call off the local collector and you make one payment a month (usually standing order) to their solicitors C K Edrupt.

roamer2006

i got with greenwoods as it was the only way i could afford christmas as i lost my job (place shut down) and ended up on income support. With 4 kids on a low income by the time i had worked out what i needed i ended up borrowing £1000. Could not get appointment for yesterday got a meeting on thursday morning as no one can see me before then. Originally it was £16 i was to pay each week but no one came near me between april and last week and they have doubled the amount i to pay! I did phone the area office and they kept saying someone would be out! Now there is still a balance off £1646 left to be paid. I am currently job hunting but as i am unable to supply references its really hard. I havent got the address off old employer. And around here its hard to get imployment in a small village with out work references specially when you have worked. So far the manager has not came out. If he came when i was shopping he hasnt left a card any way!

fatbelly

Hi Roamer

You've got a meeting with the CAB, I hope..

They can sort this. I should have been clearer earlier...Once the CAB get involved, they call off the local collector and you make one affordable payment a month. If that is £1 then that's what you pay.

If your income increases sometime later then you can pay more.

If you want to let us know how you get on, it might be better to use the debt-free wannabee board.

Cumbrian_Male

roamer2006 wrote: »

i got with greenwoods as it was the only way i could afford christmas as i lost my job (place shut down) and ended up on income support. With 4 kids on a low income by the time i had worked out what i needed i ended up borrowing £1000. Could not get appointment for yesterday got a meeting on thursday morning as no one can see me before then. Originally it was £16 i was to pay each week but no one came near me between april and last week and they have doubled the amount i to pay! I did phone the area office and they kept saying someone would be out! Now there is still a balance off £1646 left to be paid. I am currently job hunting but as i am unable to supply references its really hard. I havent got the address off old employer. And around here its hard to get imployment in a small village with out work references specially when you have worked. So far the manager has not came out. If he came when i was shopping he hasnt left a card any way!

Sorry roamer but your contractual payment has always been £32, you can not borrow £1000 for less as it is £32 per week over 55 weeks or £50 per week over 32 weeks.

I don't know what part of the country you're in and which office you are dealing with, but you should be able to come to an arrangement with the local office, if not ring customer services at head office or do as fatbelly says and speak to cab or cccs as this will stop the local office contacting you and your account dealt with at head office.

I am a Provident Financial employee.

geoffky

how do you sleep at night giving people a loan with 400% apr.. i know i could not do it because i have a conscience...

macchicken

geoffky
Thats really unfair
firstly everyone needs a job and secondly Provident loan to people who no-one else will loan to and they work within the law.


roamer2006
I am a previous employee of provident financial (greenwood parent company) and they will be reasonable with you.
when the manager comes to see you offer them a weekly token payment but try and make it every week.

As long as you keep you payment constant they will be ok with you. Don't worry.