Provident...? (merged)

Glitterari

My Mum is cr*p with money, always has been probably always will be. I'm trying to help her as much as possible though.

I know she's been using provident for a long time....

can anyone tell me what the APR is like and also, has anyone on here got their own stories about them?

Is it possible to pay off the loan quicker than the term stated - my mum never keeps hold of paper work - she's a total night mare in that area!

TIA - Carly

grumbler

Glitterari wrote:

...can anyone tell me what the APR is like ...

See Is this a joke? ...

Glitterari

singlehouseholder wrote:

The good old "provi" that takes me back!! My mam and dad and my nana all had them, dont know why they didnt go to banks, the interest was shocking, I remember when no-one would touch me, when I was on the sick for depression, I got a Provi, took forever to pay off!! Now I'm a (not so) civil servant, I get potential debt chucked at me left right and centre. Provi's should be banned, along with CrazyGeorge Brighthouse or whatever name it is now, they pray on those with virtually no money and rip them right off. Saying that, people should be able to live without the latest plasma tv, or the latest in gaming technology. When I was a kid you knew who was poor. Yes I was a scruff!!

Some people take out these loans when they really have no other choice - no one is willing to help and you have everyone threatening you with court action and bailiffs.

My Mum is one - she doesn't have anything of any value, no latest gadgetry or posh clothes. The only things that were purchased brand new in the house are about 15 years old now. Everything else is second hand, usually from the tip or passed on from friends who were going to throw it away anyway.

I'm trying to help her but she has no access to the internet and doesn't know how to use it anyway and I live over 100 miles away so it's difficult helping, but I help out where I can.

C

Old_iron_balls

It will be worth a visit to the CAB.
They will be able to offer her sound advice and hopefully point her in the right direction.

It sounds like she is digging herself further and further into the debt trap.
Provident are an APR nightmare and I dread to think how much she will be paying back in interest.

Unfortunately you can only do so much to help, see the CAB thats what they are there for

Old_iron_balls

Horrendous

and to think a few years a go i would of gone to them if i was skint. AAAARRRGGHHH !

Coveredinbees!!!!

This very nice company sent a letter to the previous occupior of my current house just before christmas offering £50 to £500 with easy weekly payments ect ect. Just 177% APR. Needless to say it went in the shreader. The thing is the previous occupier was a 80+ year old widow who has had to go in to a care home with alzheimer's. She could have easily sent off for this offer with out even knowing what she was doing!!! Nice company

jockettuk

saw this on a leaflet that was delivered to ours and we laughed at it .. but sometimes its the only way some people have of getting some money together for special occasions. my friend does it and she doesnt notice all the nitty gritty all she knows is that she can get the loan pay it weekly and get her kids bits and pieces.

lynzpower

Seriously, there should be a law against this. Id write to my MP but theres absolutely no point.

Coveredinbees!!!!

lynzpower wrote:

Seriously, there should be a law against this. Id write to my MP but theres absolutely no point.

He's probably got shares in the company anyway

lewt

wrong just wrong i know some1 how took one out you should see ther gezzer that comes calling for the cash every week. its just a legal loan shark sett up aint it?