Provident Financial secrets revealed

MRS_SPIKE

I did order from them very infrequently,and paid the account in full each time,not minimum payments,as I only ever bought the odd top or lingerie.

Morglin

Provi have been going for many years, and although they ae very exepnsive, the do make loans that banks etc., don't want to know about.

They make small loans, and they lend to those who may not be able to access bank loans.

Providing they are upfront with their charges, then it's surely up to the individual?

It's like payday loans - a rip off really, but people choose to use them or not.

I have used Provi, years ago, when the kids were small and I couldn't work full time, but once you can get cheaper finance, because you are more what banks look for, it makes sense to stop using them.

Nowadays, I would say the best way for the less well off to borrow money is through credit unions - they are always reasonable, and it encourages saving as well.

Lin

gumbumper

being a previous provident customer I have to disagree with most of aht Yellow100 has said. The company works with local offices and if you call the number on your documentation it puts you through to your local office and not a call centre in bradford. All loans have to be approved and are not pushed on to anyone, all paperwork has to be signed by the lender. I came on here to find out if Provident put PPI on to their loan repayments and if so where and how can I claim this back!? I an not keen to go to one of the PPI sites as I know I will be spammed to death with emails and calls from them forever! Can anyone help me!?

battyboimatt

I'm sorry but what alod of tosh, firstly

"The BEST way to NOT pay provident and ALL your creditors is to take out a DEBT RELIEF ORDER, which costs less than £100 to apply for, this will WIPE AWAY ALL your debts inc providents"

" DO NOT PROVIDE ANY INFORMATION ON A MORTGAGE, CARS, PENSIONS.........etc you have, as they will use this to object the DEBT RELIEF ORDER - saying this customer has money to pay for insurance for a car, car tax, petrol, has a mortgage, so he has money to pay usSO DON'T TELL THEM AND ALL YOUR DEBTS WILL BE WIPED CLEAR IN 6 MONTHS"

Please a debt relief order is a form of insolvancy, not as bad as bankrupty but it still affects you for 6 years and dealt with with such so you have to declare a house, penisons etc and im sorry but

the debtor’s total gross assets must not exceed £300(this includes houses so homeowners will not be eligible)

the debtor’s disposable income, following deduction of normal household expenses, must not exceed £50 per month;

So im sorry but unless you owe less than 15'000 dont own your home, and you disposable income frollowing decedctions cant be more then £50

Please think before taking out a DRO it will effect you, yes your debts will be wiped out, but it will have a lasting effect


Also "take out a £1000 loan, then 2 weeks later go bankrupt and tell them when you signed for the loan, you didnt realise you financial circumstances would change and you would be bankrupt"

I'm sorry the offical receiver wouldnt buy this and Im sure a BRO would be issued and your length of time restricted increased.

This OP surley knows nothing of DRO or Bankruptcy, dont listen

theendisnigh4paydaysnprov

I've looked at some discussions here about Provident and Pay day lenders. I'm sure these companies activities will be under more scrutiny this year and their rates of interest will be brought under control.

AVOID these companies, they do lend to people in financial difficulty and it's very easy to lie to them, they don't really question you too deeply because they want to lend you the money or they don't make a profit, or an income. And in the case of Provident, it's all down to the doorstep seller, they can HELP you get a loan!

Simply avoid them, they only make a profit from people in debt or who have been in debt. THEY MAKE PROFIT and that's the only reason they exist.

In the case of Provident, well, I'd rather get a payday loan and enter into a repayment plan with them if I got into difficulty. They're easier to deal with that Provident. And you don't have to have the embarrassment of everyone knowing your business which becomes evident to people when they see the Provi' Lady on your doorstep every Monday!

If you have Financial woes ask the CAB for help, your Electricity Company and your Gas Company are unlikely to cut you off if you seek help. You MAY be evicted from your Home if you don't pay your rent but nor do the council or the Government want to see you on the street. So ASK for help, If you're in trouble, TELL PEOPLE.

Don't get loans for anything unless YOU KNOW you can pay it back. Loans from anyone, no matter who, are only a source of misery. It may look payable today, but what if you loose your Job!

I think high interest loans from Payday and Provident are socially unacceptable, and if I knew someone who made their money this way then they would quickly become my number one enemy.

Look up the word "Carpetbagger", you'll find these companies are a modern version of that. And should be treated the same way.

Even owning your own home and having a mortgage creates a risk situation for anyone who doesn't have a trade or profession, a certified profession. People outside of that group have more security in rented social housing, which the government doesn't want. The CONSERVATIVE government that is.

If you own your own home and you get into difficulty, say a 3 bed house, rent it out and move into a smaller rented house in a lower priced location until your circumstances change. With 70 people applying for a job and ageism in the society, e.g. over 50's it could be a long time before you get a job, and they may mean the loss off your home and debt. I was unemployed at 55 for 4 years and now I work for a 3rd of my previous income. My sister at 54 has now been unemployed for a year, she can buy her own home but without an income she can't pay the bills! So she will take in a lodger, it's not that bad, I've had one or two to help me pay the bills.

And DEBT destroys lives unless you have a full proof way of getting out of it. If you're in debt, ask people for help. It's better to owe 20 people £10, than it is to owe Provident £200 plus interest. You can pay them back their £20 week by week. People wont miss £10 too much, but Provident will chase you and make you pay double.


Thank you!!!

Apples2

theendisnigh4paydaysnprov wrote: »

THEY MAKE PROFIT and that's the only reason they exist.

You'll be surprised how many other businesses have the same goal, vultures..

Clive_Woody

Apples2 wrote: »

You'll be surprised how many other businesses have the same goal, vultures..

For goodness sake keep it down. If Martin Lewis finds out we are all going to be out of jobs....

[Deleted User]

gumbumper wrote: »

being a previous provident customer I have to disagree with most of aht Yellow100 has said. The company works with local offices and if you call the number on your documentation it puts you through to your local office and not a call centre in bradford. All loans have to be approved and are not pushed on to anyone, all paperwork has to be signed by the lender. I came on here to find out if Provident put PPI on to their loan repayments and if so where and how can I claim this back!? I an not keen to go to one of the PPI sites as I know I will be spammed to death with emails and calls from them forever! Can anyone help me!?

I appreciate you may have found out by now but no ppi wasn't applicable to provident finance, they were on a no & reject list where I worked once, I enjoyed my time there until people wised up, (I think I am being generous) shame how many can see the logic in not using a Claims Management Co. but only to pay over the top for the services of one of the worst type of lender!

You can tell the wheat from the chaff by this sentence, rest of it up to you if you chose the service offered "This company is regulated by the Ministry of Justice in respect of regulated claims management activities" if you don't hear this there is a good chance you are dealing with no more then a spammer as you rightly put!

Tixy

If this thread could just go a few more months between being revived each time there would be a chance of it being permanently closed.

Brought back today from page 116......

pleasedelete

Provident was started in 1880- not sure how that makes them carpet baggers.