large provident debt advice needed

roxie2009

hi any advice any of you could give me would be greatly appreciated

i have had many loans with provident ( yes i know i'm stupid ) always seemed to be offering more when i needed it
i was paying them back weekly untill earlier this year when my circumstances changed and could no longer afford the payments

i have since moved adress and at the moment they dont know but i know its only a matter of time before they find me
i have gone through my finances again and again and the most i could pay them a month is £20 and that is pushing it

the amount that i owe them is around £2200 (wont put exact amount incase they see it on here) however there letters i received before moving said i owed them exactly £400 more than what my book says

can i make them take off the extra £400 that i dont owe and would they be willing to accept the £20 a month
i wouldnt mind but there deffinetely not out of pocket as ive had so many loans with them that ive probely paid that in interest a couple of times over
any advice on what i should do would be really appreciated
thankyou

Apples2

So you stopped making repayments and moved house.

Can you explain why you are surprised you owe more than your book says??

roxie2009

because when you take out the loan they put all the interest on straight away and they said nothing else can be added

vaporate

Well you ran away from your debt, interest will of course continue, that is what you signed for if you didnt pay it back.

Not going to give a long lecture though. Maybe you should write to them and state how much you're willing to pay each month.

roxie2009

hi
i havent run away from it i have every intention of paying but when i took out the loans they said no further charges including late payments can be added and thats why the charge is so high, and im pretty sure if it was interest then it wouldnt be exactly £400

CHR15

roxie2009 wrote: »

hi
i havent run away from it

You did when you stopped making repayments.

Why bother paying it back at all if you can take payments breaks whenever you like with no penalties??

roxie2009

no i didnt run away from it i have always had every intention of paying it otherwise i would be trying to avoid it now that they dont know where i am
i contacted them explaining my difficult situation they agreed to lower payments (still more than i could afford) but then my agent left and no one come to collect for a long time just before i moved they started contacting me about the debt and now im trying to find away to pay it
i came on here looking for advice not to be judged
i have payed them alot more in interest than what i owe them now so like i said there not out of pocket and im not trying to get out of it either just dont feel that i should have to pay an extra £400 with no explanation as to why
i only wanted advice on wether i could get them to take off the extra money and if they would acceot my payment offer as i am worried that when i contact them they will want the full amount straight away
so any helpfull advice would be greatly appreciated

adea

I think your best option would be to contact your local office and make an appointment to see a manager and discuss things with them.
They won't want the full amount paid straight away, if you explain your circumstances and keep to the agreed repayment that you should be able to make with the manager, then you shouldn't have to much of a problem.
When I was an agent, I had customers on my book that had taken out a 56 week loan but will still paying a couple of years past the end date!
Just be honest and things should be ok.
Oh and next time you get an agent and if they happen to leave there are a few options open to you: a)speak to the office and hassle them to send someone else b) you could ask to pay in the office or c) there is a payment line that you can call if you have a debit card.

Good luck.

roxie2009

adea wrote: »

I think your best option would be to contact your local office and make an appointment to see a manager and discuss things with them.
They won't want the full amount paid straight away, if you explain your circumstances and keep to the agreed repayment that you should be able to make with the manager, then you shouldn't have to much of a problem.
When I was an agent, I had customers on my book that had taken out a 56 week loan but will still paying a couple of years past the end date!
Just be honest and things should be ok.
Oh and next time you get an agent and if they happen to leave there are a few options open to you: a)speak to the office and hassle them to send someone else b) you could ask to pay in the office or c) there is a payment line that you can call if you have a debit card.

Good luck.

thankyou so much
i will contact them tomorow and see how it goes would probely be best if i just pay over the phone by debit card each week

Cumbrian_Male

Hi Roxie

I work for Provident.

Firstly regarding the balance discrepancy, check your book for simple subtraction errors. Easiest way is to add up all the payments entered and deduct from the total payable at the top of the page. If it is still out by £400 then I would take photo copies of the book before submitting it to be audited. No additional charges will be added by Provident, unless your account is passed to a DCA to trace your location and collect it, then the additional cost can be added by the DCA as per the terms and conditions.

Regarding payment of your outstanding balance, if you have a genuine change of circumstances the agreeing a reduced payment shouldn't be a problem. However at £20pm on a £2200 balance you are talking 110 months or 11 years 10 months.

Given the above I would suggest you need to look closely at your budget. Pop over to debt free wannabe board and post a statement of affairs. You will get help and advice to maximise your disposable income to repay your creditors. There are members from the CCCS who post and can advise on a Debt Management Program.

You may need to seek professional advice from a free debt counselling source such as CAB CCCS or National debtline. If you have other creditor particularly credit cards then the charges and interest can be crippling if you can't met your minimum payments. Most will freeze charges if you are using one of these sources and a DMP to repay your creditors.

Seek help now dealing with it will relieve the stress.

denver2009

I agree with Cumbrian Male,I was going to say the exact same thing.I have 3 provident loans out just now totalling nearly £3000 and I dont pay the full amount every week but they CANNOT add anything extra on after you've signed your agreement.Dont worry hun,I know how it feels but we're not the only people in debt and you came on here asking for advice,not to be judged by anyone.As long as you are making a payment no matter how little,Provident cannot do anything other than try to get you to pay more,and you can only pay what you can afford.

Take care hun xx