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Provident Personal Credit " RIP OFF " what do you say?

june2rose
june2rose Posts: 66 Forumite
Part of the Furniture 10 Posts Combo Breaker
Has any one else received details of Provident's cash loans for just a few pounds a week offer through the post today? I wasn't wearing my glasses at the time and thought i'd read it wrong? Quote, " example: Cash loan amount £100. 55 weekly repayments of £3. Total amount payable £165. Typical 177% APR .
Surely this isn't legal or is it? It seems their targeting the unemployed, those with CCJ's, even if your renting or have a poor credit history, No problem.
Just work out how much cash you'd like and one of their friendly agents will visit you at home and stitch you up. I thought the goverment were putting in measures to curb this sort of thing from happening targeting the vunerable.
Strikes up visions of a vulture in a grey suit hovering over head waiting to pounce on the desperate and needy with no where else to turn. What can we do to prevent 177% APR being charged?
A shadowy flight into the dangerous world of a man who does not exist.

A young loner on a crusade to champion the cause of the innocent,
the helpless, the powerless, in a world of criminals who operate above the law.

Comments

  • Andybez38
    Andybez38 Posts: 1,773 Forumite
    Part of the Furniture Combo Breaker
    I also got one of their leaflets through the post the other week, with same sort of offer. I put it where it deserves to be. Straight in the bin. :D
    I came into this world with nothing and I'm gonna leave with nothing.
  • Warriorsith
    Warriorsith Posts: 441 Forumite
    Part of the Furniture 100 Posts Combo Breaker Uniform Washer
    My g/f was in a desperate situation and got a loan with them, I know shes borrowed £1k and has to repay £1650! Id stay away from them but when you've got poor credit history and no ones gonna offer better than I suppose you'd choose that option.
    "I AM THE GATEKEEPER OF MY OWN DESTINY" Nacho Libre

    'Proud To Be Dealing With My Debts' :DDFW Member No.495
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