Provident Financial secrets revealed

Enfieldian

Hmm.

You borrow a sum of money and agree to make a certain amount of weekly repayments at a fixed amount...

Expensive? Yes, but it is up to the customer whether they take it on or not.

I don't see a problem here....

worrieddan_2

They state clearky what you have to pay back and the charges for credit.You must be stupid to take one out with them if you don't really need too bit like I did and now I can't pay it back.No one else was willing to lend though and I knew what the repayments were.more fool me.

DKLS

I once went for an interview at their HQ in Bradford, they had all the company names on plaques behind reception and there was a load of them.

What I really remember from that day was seeing the contents of the car park, I would have expected to see a fleet of vectras/mondeos etc but no the bulk of the car park was made up of premium brands and very tasty motors.

~Brock~

DKLS wrote: »

I once went for an interview at their HQ in Bradford, they had all the company names on plaques behind reception and there was a load of them.

What I really remember from that day was seeing the contents of the car park, I would have expected to see a fleet of vectras/mondeos etc but no the bulk of the car park was made up of premium brands and very tasty motors.

Nice to see a company doing well for a change then, unless of course you would prefer a communist society where we all aspire to driving a Lada !?

The word 'not for profit organisation' is used too often nowadays as an attempted acronym for a company that you can trust, whilst forgetting the other common saying that if you pay peanuts you get monkeys!

Did you get the job?

DKLS

~Brock~ wrote: »

Nice to see a company doing well for a change then, unless of course you would prefer a communist society where we all aspire to driving a Lada !?

The word 'not for profit organisation' is used too often nowadays as an attempted acronym for a company that you can trust, whilst forgetting the other common saying that if you pay peanuts you get monkeys!

Did you get the job?

I defo wouldnt like to see us all driving Ladas, and agree It is nice to see a company doing well, There should be more of an emphasis of promoting success instead of failure in this country.

I didnt get the job as half way through the interview I decided it wasnt for me, and told the panel, there was no point me being there.

evg_3

Please let me know about how the agents commissions are calculated and what percentage is taken and if there are any additional bonuses?

jennihen

I borrowed several hundred pounds from Provi last year. The terms were very clear. I knew I only neede a short-term loan and paid it back within one month. It cost me less than a 'bounced' payment letter from my bank. Used correctly lenders like Provi serve a need. Sadly it is all too often people who cannot manage their finances who believe borrowing will help them out.
I often help people sort out their bills and there is a definite pattern of Provident offering different loans to a customer once they are having difficulty with repayments (ie a new loan over a longer period bringing the weekly payments down).
They are out to make money - end of. Who isn't?

~Brock~

jennihen wrote: »

They are out to make money - end of. Who isn't?

In this day and age? Disgraceful.

The torch wielding mob'l soon 'av 'em :money:

adea

evg wrote: »

Please let me know about how the agents commissions are calculated and what percentage is taken and if there are any additional bonuses?

Agents commissions vary depending on how much money they collect and what size their round is.
No two agents will have the same money.
The only bonus an agent gets (this is from my experience) is if you reach a set target during a promotion campaign.
If you are thinking of becoming an agent, then you need to think about a few things besides the money.
You are classed as self employed so are responsible for your tax.
You get no help with fuel costs or travel expenses.
If you make a mistake in filling out a form (which is a legal document) then the company will fine you.
The hours are not great, you work Fridays and Mondays and on a Tuesday you have to bank all the money you collected.
If there is a bank holiday, then you get an extra day to collect the money.
Also, any customers you miss on Friday, you have to call at again on Monday to see if they can pay you then.
You are accountable for all the money you collect, so if there is a difference between what is written in your collection list and the amount the office adds up, if there is a shortfall, the money is deducted from your wages.
It is quite a stressful job and you are always being asked to recruit more borrowers.

If after reading all this, you decided you want to become an agent, then I wish you all the best and good luck

evg_3

Thank you for your response. I have no problem with that, but how will I earn if I got 20 clients and service them regularly? What percentage of the money and how much per month for each new customer?