provident agents [TEXT DELETED BY FORUM TEAM]

joeblack066

peedoffagent wrote: »

It all depends on your quality, check with your agent.

Its always a month in advance, so I'm hoping that it won't be detrimental.

scooby088

well i know that greenwoods agents are being asked to cover vacant provident books and vice versa maybe double the loss for both agents.

ANDREW_EX_AGENT

Comment from Joe, husband of agent from Liverpool. FSA (financial services authority) need your input.

I’m sure that my wife would rather I didn’t make a comment, but i feel compelled to make clear my own train of thought and at the same time advise that you all write to the FSA about this.
The profound greed from the so called Fat Cats, somewhat apt, when i see pictures of certain directors with surnames that depict an obvious favourite hobby, something to do with eating and ‘COOKING’.
For the record, my work evolves around the logistics & financial sectors and I work personally work with at a direct level senior executives of some of the world’s largest banking and trading institutions such as the late Barings Bank, Sumitomo, Koch Industries, Barclays, Glencore Int., Goldman Sachs, Rio Tinto etc etc. the best of the best companies the world over.
In my 20+ years of working within these sectors and industries, never have I know such an appalling attack on what i view as the very foundation of a business – ITS STAFF. Bankers are very reasonable people when all considered against the people running this company.
To clarify what I mean: YOU THE AGENTS.
You people send your time, effort and money, financing the operation of Provident. How so?
Given the current scenario you:
a. Pay for fuel (which is going up in price, week on week)
b. Pay for Car Insurance (which goes up year on year)
c. Your time – do you receive an increase year on year? NO.
d. You place yourself at risk trawling the streets picking up CASH, night and day and would-be thieves know this.
So in my simple mind the question is: Has anyone in Provident really thought this through?
YES? If the answer is YES, then it’s clear to me and surely to you that these people don’t deserve your loyalty and commitment.
NO? If the answer is no then why on earth not.
Business is a hard arena and that’s a fact, but a sense of fair play must always prevail especially with those who helps us maintain our market and those who contribute the very food we place on our tables each and every day.
So what’s my point: The tactic employed by your company, it’s plain to see, in my mind, is that the agents are no longer valued and are very much viewed as subservient and certainly easily expendable.
In these hard times, one assumes the view of the company is that they can pick up another agent quite easily if you’re to leave ( as ‘Hard Times’ would have us believe) so – leave in mass and watch what happens!
Whilst the guys at the top may be wealthy and indeed may never see again a poor day, they still feel the pressure from share holders and believe me if you’re all to resign and walk away the same week – boy what pressure this would cause. This is easy for me to say as I am the main bread winner in my home and what my wife earns is for her to keep but in principle it should be understood that no one goes to work for nothing and equally when running a business everyone has to eat, else there is simply no joy for all.
Form my own personal view, I dislike your industry because it charges what I consider exorbitant interest rates and preys upon the vulnerable within our society, conversely, it offers a service with considerable risk and for that risk, it takes and makes silly margins – which responsible people seems not to consider.
So from this preface the company makes the money based upon its interest rates – right?
You make your money collecting money on behalf of the company – right?
You don’t make money out of issuing loans – right?
Who does?
PROVIDENT? – RIGHT ON THE MONEY!
So who’s customers are they? Yours as the agent or Provident’s?
The answer is in the contract.
Who makes the money and is legally bound by the contract?
You the agent?
I think not!
So to finally expound:
a. You make collections from loans issued.
b. You are paid a commission on the collection for the loans issued – Right?
The new rule now states:
a. They will deduct commission from money earned from those loans that people pay – Right?
b. BUT – they will now deduct from that commission, earned from those that have paid you, against those
loans issued to the people that haven’t paid you – Right?
Doesn’t sound ethical to me and there has to be some moral fabric to running and operating a business. by the same token, if they make deductions on this basis, then surely that money should be off-set against those loans, because you as the agent are being penalised for non payment of a loan issued to a client of Provident yet Provident take a margin from you which is in no way reflected from the loan issued.
There has to be something wrong with this and you should all write to the FSA and seek clarification.
The FSA website states the following:
If a firm is suspected of breaching our rules and regulations, the Consumer Helpline will pass the information to the relevant supervisory area of the FSA.
Call us:
You can call the Consumer Helpline Monday to Friday (excluding Bank Holidays) from 8am to 6pm:
Telephone: 0845 606 1234
Typetalk: 18001 0845 606 1234
From overseas: (+44) 20 7066 1000 (main switchboard)
We are committed to providing you with a quality service, so calls may be recorded or monitored for training purposes.
I suggest you obtain from your manager the FSA registration number of the unit under which you operate and then write a letter. Cut and paste the above explanation about how the commission is deducted from your pay for loans not paid but yet is never off-set against that loan.
To close, don’t become emotional about it, explain the issue in a shorter way than I have here and be both concise and precise.
Remember this, a business has no moral or ethical obligation (people do however, in my mind) but they must remain within the law. Look closely at these boundaries and act upon any minor infringement you find, it is this area that will create a shift in mind set from the top, not because they want to but because the law will force them to.
REGULATION RULES IN THIS MARKET.
Find the infringements and you will make them hurt in such a way you will not comprehend.
Good luck from an ethical and moral Business man.

demoralised

scooby088 wrote: »

well i know that greenwoods agents are being asked to cover vacant provident books and vice versa maybe double the loss for both agents.

well if those agents do not process a credit license they are breaking the law, I hope they realise that.You cannot work for both without one.

demoralised

scooby088 wrote: »

well i know that greenwoods agents are being asked to cover vacant provident books and vice versa maybe double the loss for both agents.

well if those agents do not have a credit licence they are breaking the law.You cannot work for both without one.Perhaps the FSA need informing if this is true.

bashtheagents

demoralised wrote: »

well if those agents do not have a credit licence they are breaking the law.You cannot work for both without one.Perhaps the FSA need informing if this is true.

Yet another mis informed agent , can collect because they can work under the Provident Financial group.

bashtheagents

19england66 wrote: »

think you are on the wrong site mate....... you need www.what a joke am i.......... oh no sorry thats for funny people

The joke is on you mate i earned 39k last year for 20 hours work a week, laughing all the way to the bank.

demoralised

bashtheagents wrote: »

Yet another mis informed agent , can collect because they can work under the Provident Financial group.

Then I was misinformed via head office still have memo stating that, and that we would have to obtain it at our own expence, if rules have change since typical to not keep us informed, someone has forgotten that we are the backbone, I agree possibly weak in places but why destroy the whole backbone.

bashtheagents

demoralised wrote: »

Then I was misinformed via head office still have memo stating that, and that we would have to obtain it at our own expence, if rules have change since typical to not keep us informed, someone has forgotten that we are the backbone, I agree possibly weak in places but why destroy the whole backbone.

Think that was back in 2009, its changed since then.

purplepunto

ANDREW_EX_AGENT wrote: »

Comment from Joe, husband of agent from Liverpool. FSA (financial services authority) need your input.

I’m sure that my wife would rather I didn’t make a comment, but i feel compelled to make clear my own train of thought and at the same time advise that you all write to the FSA about this.
The profound greed from the so called Fat Cats, somewhat apt, when i see pictures of certain directors with surnames that depict an obvious favourite hobby, something to do with eating and ‘COOKING’.
For the record, my work evolves around the logistics & financial sectors and I work personally work with at a direct level senior executives of some of the world’s largest banking and trading institutions such as the late Barings Bank, Sumitomo, Koch Industries, Barclays, Glencore Int., Goldman Sachs, Rio Tinto etc etc. the best of the best companies the world over.
In my 20+ years of working within these sectors and industries, never have I know such an appalling attack on what i view as the very foundation of a business – ITS STAFF. Bankers are very reasonable people when all considered against the people running this company.
To clarify what I mean: YOU THE AGENTS.
You people send your time, effort and money, financing the operation of Provident. How so?
Given the current scenario you:
a. Pay for fuel (which is going up in price, week on week)
b. Pay for Car Insurance (which goes up year on year)
c. Your time – do you receive an increase year on year? NO.
d. You place yourself at risk trawling the streets picking up CASH, night and day and would-be thieves know this.
So in my simple mind the question is: Has anyone in Provident really thought this through?
YES? If the answer is YES, then it’s clear to me and surely to you that these people don’t deserve your loyalty and commitment.
NO? If the answer is no then why on earth not.
Business is a hard arena and that’s a fact, but a sense of fair play must always prevail especially with those who helps us maintain our market and those who contribute the very food we place on our tables each and every day.
So what’s my point: The tactic employed by your company, it’s plain to see, in my mind, is that the agents are no longer valued and are very much viewed as subservient and certainly easily expendable.
In these hard times, one assumes the view of the company is that they can pick up another agent quite easily if you’re to leave ( as ‘Hard Times’ would have us believe) so – leave in mass and watch what happens!
Whilst the guys at the top may be wealthy and indeed may never see again a poor day, they still feel the pressure from share holders and believe me if you’re all to resign and walk away the same week – boy what pressure this would cause. This is easy for me to say as I am the main bread winner in my home and what my wife earns is for her to keep but in principle it should be understood that no one goes to work for nothing and equally when running a business everyone has to eat, else there is simply no joy for all.
Form my own personal view, I dislike your industry because it charges what I consider exorbitant interest rates and preys upon the vulnerable within our society, conversely, it offers a service with considerable risk and for that risk, it takes and makes silly margins – which responsible people seems not to consider.
So from this preface the company makes the money based upon its interest rates – right?
You make your money collecting money on behalf of the company – right?
You don’t make money out of issuing loans – right?
Who does?
PROVIDENT? – RIGHT ON THE MONEY!
So who’s customers are they? Yours as the agent or Provident’s?
The answer is in the contract.
Who makes the money and is legally bound by the contract?
You the agent?
I think not!
So to finally expound:
a. You make collections from loans issued.
b. You are paid a commission on the collection for the loans issued – Right?
The new rule now states:
a. They will deduct commission from money earned from those loans that people pay – Right?
b. BUT – they will now deduct from that commission, earned from those that have paid you, against those
loans issued to the people that haven’t paid you – Right?
Doesn’t sound ethical to me and there has to be some moral fabric to running and operating a business. by the same token, if they make deductions on this basis, then surely that money should be off-set against those loans, because you as the agent are being penalised for non payment of a loan issued to a client of Provident yet Provident take a margin from you which is in no way reflected from the loan issued.
There has to be something wrong with this and you should all write to the FSA and seek clarification.
The FSA website states the following:
If a firm is suspected of breaching our rules and regulations, the Consumer Helpline will pass the information to the relevant supervisory area of the FSA.
Call us:
You can call the Consumer Helpline Monday to Friday (excluding Bank Holidays) from 8am to 6pm:
Telephone: 0845 606 1234
Typetalk: 18001 0845 606 1234
From overseas: (+44) 20 7066 1000 (main switchboard)
We are committed to providing you with a quality service, so calls may be recorded or monitored for training purposes.
I suggest you obtain from your manager the FSA registration number of the unit under which you operate and then write a letter. Cut and paste the above explanation about how the commission is deducted from your pay for loans not paid but yet is never off-set against that loan.
To close, don’t become emotional about it, explain the issue in a shorter way than I have here and be both concise and precise.
Remember this, a business has no moral or ethical obligation (people do however, in my mind) but they must remain within the law. Look closely at these boundaries and act upon any minor infringement you find, it is this area that will create a shift in mind set from the top, not because they want to but because the law will force them to.
REGULATION RULES IN THIS MARKET.
Find the infringements and you will make them hurt in such a way you will not comprehend.
Good luck from an ethical and moral Business man.

I have read this with great interest but I have spoke to FSA and they said it isnt anything to do with them its really for people who have loans etc and have a problem with it. Also I have spoke to HMRC and they are also of the opinion of its nothing to do with them! So apart from solicitors, where do we go from here?