Provident Personal Credit - 177% APR !

dodgy_gooner

I knew Provident charged high interest rates but this just about takes the biscuit. This product seems like a Credit Card but the money is loaded onto the card and you can then only spend it Argos, the example given shows you borrow £300 and then pay £9/week for 55 weeks at an APR of 177% surely this cannot be legal can it ?

Apparent applying is easy as they will send an agent round to handle your application so there is no complicated application to fill in, the agent then calls each week to collect the payment.

Has anyone else received the letter ? I have it here and will scan in anyone is interested.

pavlovs_dog

im so fed up of them sending me junk mail despite my having repeatedly asked to be removed from their mailing list that ive started writing really !!!!!y messages on the back of the letter, and sending it back to them in their own pre-paid envelope... often adding other CC companies junk mail to push the envelope weight over the cost of the pre-paid envelope


:rotfl: :rotfl:

Cumbrian_Male

Are the mail shots personally addressed or just to the occupier or royal mail delivered un-addressed?

If unaddressed then you can opt out of the scheme with royal mail. This stops all unaddressed junk mail.

pavlovs_dog

personally addressed worst luck!

Zed42

Cumbrian_Male wrote:

If unaddressed then you can opt out of the scheme with royal mail. This stops all unaddressed junk mail.

Sorry to butt in here - but how do you opt out? I'm registered with the MPS, but this doesn't stop the Royal Mail delivery service of "for the homeowner" mailshots.

Cheers in advance.

Cumbrian_Male

Have a look at the thread How to get rid of junk mail and see post 13 by penyffordd for the contact details at royal mail. Use the media address as the other one bounced back when I tried. Please thank pennyffordd as it was their tip not mine I knew nothing about it till I saw it.:j

Cumbrian_Male

pavlovs_dog wrote:

personally addressed worst luck!

Mailing Preference Service registration then.

Or Just write to

Customer Services
Provident Personal Credit
Colonnade
Sunbridge Road
Bradford
West Yorkshire
BD1 2LQ

ask to be removed from the mailing list.

Or alternately ring 0800 096 6064 to get the call centre (M-F 8am - 8pm Sat 8.30am - 5pm) again ask to be removed from the mailing list.

pavlovs_dog

Cumbrian_Male wrote:

Mailing Preference Service registration then.

Or Just write to

Customer Services
Provident Personal Credit
Colonnade
Sunbridge Road
Bradford
West Yorkshire
BD1 2LQ

ask to be removed from the mailing list.

Or alternately ring 0800 096 6064 to get the call centre (M-F 8am - 8pm Sat 8.30am - 5pm) again ask to be removed from the mailing list.

as i said earlier in post 2, i have repeatedly contacted them and asked to be removed, and still they send me their junk

Cumbrian_Male

pavlovs_dog wrote:

as i said earlier in post 2, i have repeatedly contacted them and asked to be removed, and still they send me their junk

In which case you need to write in with a section 11 of the DPA 1998 request that they stop using your information to send you direct marketing material.

I can get the name of who you should address it to, or just send it to " The Company Secretary"

Section 11 DPA 1998 info pdf from Information Commissioners website.

Warriorsith

My partner borrowed £1k from them and has to repay £1650, that's a rediculas amount and on that leaves me seething!! But I guess she knew the amount repay prior to signing, then they gave her the money there and then. The guy who did it all has in fact been really nice everytime he comes round but thats probably due to been able to repay it and not missed a repayment.

DO NOT GO WITH THIS COMPANY!!

mummyyummy_2

[/B]I know they do have high interest rates, but how many posts have we all seen on this site from ppl who have "bad credit" and are desperate for loans but cannot get them elsewhere. You also have the convenience of having someone come round your house every week-at a time you sort out with them-to collect your payments. This also stops any "unfair bank charges" because there is no chance of any direct debit being returned unpaid from the bank when you dont have enough money to cover them and not many banks/lenders are willing to lend you such small amounts anyway..they do some sort of credit check on you, because my friend was refused by them for £100 of vouchers and if ur unemployed you can only get £150 max..there is no hidden interest on the money you borrow-you know upfront what u r paying..even if you miss payments nothing else gets added to your balance -unlike all other companies...if you add that onto your balance owing from other "reputable" companies i bet the total amounts wouldnt be that different from provident and if you are having problems they are more than willing to except reduced payments...i know all this because i have been with them for years now....i get vouchers off the for christmas...i think its something like get £50 of vouchers, pay back £62...at about £3 per week for about 20 weeks and like i said ive been in situation where i couldnt pay quite a few times and it was never a problem as long as you make a "token" payment my agent said...think i took over a year to pay it back with no more added interest except the £12 initial interest...

not many banks are that reasonable and like i said we are not all lucky enough to be in the position where we can get a loan just like that from a bank etc so pls dont look down on us that do get from these companies...i and many of my friends find them a godsend....before you sceptics start saying "if you actually saved that £3 every week over the year you would have x amount in savings", its not always that easy as we all know ppl in our situation dont always find it easy to save, you might want to treat you child etc, but if you know you have to have that £3 every week for a bill, you do put it away..

i know many of you totally disagree, but just look at what ive said before you totally slate them