Try Provident

Enfieldian

This will always be a matter of contention.

Provident, like payday loans companies, serve a purpose and satisfy a demand in the market.

These companies do make it quite quite clear how much, how often and when you have to pay.

For example: Provident - Borow £500 - 31 Weekly Payments Of £25 - Total £775. The interest rates are not really the issue.

The problem comes when people keep renewing or upping their loans, effectiv ely in order to make the next few repayments.

I had a Provi loan a while ago and yes, I thought it was expensive, especially once I had used the original money, repaid more than the actual amount borrowed and still had £200 to pay but that fitted my circumstances at the time.

The good payment history I had with them benefitted my credit score and now I have no problems elsewhere.

I was offered topups and vouchers a couple of times during the period but I just said no thanks. I had got used to having £25 put by for each week so it taught me to save up for something I wanted in the same way.

Credit-Crunched

minnie123 wrote: »

So you repay the loan using your benefits - so in effect the tax paid by me is getting paid in interest to these loan sharks!! Great!

Live to your means.

I have nothing against benefits if they are used for what they are intended for.

Agreed, this country needs to get harsh on benefits, if people genuinley need them then fine, however if 60% of people on DLA are ABLE to work, then the lazy sods should.

Meal ticket Britain needs to change or the whole system will implode.
The same people who complain about 'immigrants' coming in and taking 'our' jobs are the same lazy good for nothing wasters that flood our benefits system.

iolanthe07

OP, I trust you're declaring your tips for income tax purposes?!

thegelth

iolanthe07 wrote: »

OP, I trust you're declaring your tips for income tax purposes?!

Tips are not taxed.Never have been.Not in the hotel trade or any other trade.Why should I?They are a personal reflection on the service you give.

In regards to me reccommending Provident Im not saying its the ideal route to take.I chose them becuase of the they have been around a long time and thats why I chose them.I wouldnt have chosen one that had just been set up.

LilacPixie

For the record tips are taxable income http://www.hmrc.gov.uk/working/tips-bonuses.htm

Provident are not a goodlong termoption foranyone. Yes there may be times that a one off loan suits someones circumstances but they should not be used for longer term lending.

Rolandtheroadie

thegelth, you are in financial trouble. Go to CAB or at least call them on Monday. You know this yourself, your just delaying the inevitable.

PROLIANT

The day will come when a sub-prime finance company will start trading who will provide loans @ < 30 APR, sooner rather than later I hope.

Rolandtheroadie

Unfortunately right now theres more people needing quick credit these days than ever before. I got mail from them (at my "clean" email address that only around 6 companies know) and they claim to have got it from one of their partners.
I emailled to ask which partner (so I can stop using them) but no response.

thegelth

scotsman4th wrote: »

thegelth, you are in financial trouble. Go to CAB or at least call them on Monday. You know this yourself, your just delaying the inevitable.

I am in financial trouble but I dont want to go to court and have to pay my net amount on my loan.Even though it may seem I am in trouble I am not.Compared to some people on here. Ive already been to the CAB about getting a lower montlhy repayment on my bank loan so that looks like it will happen. As far as Provident are concerned I am using my tip money.Working in hotels has its benefits ie : tips!!!

thegelth

LilacPixie wrote: »

For the record tips are taxable income http://www.hmrc.gov.uk/working/tips-bonuses.htm

Provident are not a goodlong termoption foranyone. Yes there may be times that a one off loan suits someones circumstances but they should not be used for longer term lending.

It suits my short term circumtances.