Provendent.......New ploy to get more money from us.

WRINKLES

chanz4 wrote: »

Provident have bought the debts from dca's, they are not breaking any laws as they are offering an intrest free refinance plan and you can decline it.

I am not so sure as you are that they have bought these debts , we shall see when the op comes back with more info , I have seen on MSE some time ago Provident offering to give a loan to pay a statute barred debt being chased by Mackenzie Hall .

neverlearn

Hiya,

Thanks for the input. I have my questions wrote down ready to ask on Monday, so I will post as soon as collector has been. At least it will be information for anyone else to read. I have never come across this before. Wonder if its a new thing ?

:money:

barbiedoll

That's shocking! :eek:
I knew Provident were a bunch of shysters but checking out your old debts and offering you a loan to pay them off! :mad::mad:

They are actually being very clever if you think about it. It is against the OFT guidelines for creditors to encourage debtors to borrow more money to pay off outstanding debts but as Provident aren't one of your (problem) debtors, they can lend you the money with a clear conscience. If you dig deep enough, you may find that one or more of your payday loans are from a company that are affiliated with Provident anyway, that may be how they know about them.

Tell her to take a hike and that you don't want or need any further overpriced loans from her company. Tell her that you are quite capable of dealing with your debts yourself and that it is against OFT guidelines for her to offer you more credit if she knows that you have financial difficulties. Also tell her that your other debts are absolutely none of her or her company's business and that you have taken legal advice regarding a possible breach of the Data Protection Act. That should put her off! (There probably hasn't been, but I bet she won't know that!)

I doubt very much that the refinance option is "interest free" as chanz4 seems to think it is? Provident charge HUGE amounts of interest all of their products, I can't see them suddenly offering the OP an interest-free loan to pay off her debts!

FOURCANDLES_2

The guy i was helping with his debts a few years ago had a letter from provident offering to pay the debts etc and he pay them all the money on an interest free loan, however he had to contact them in order for this to take place so he just binned the letter, all debts now are statue barred. Original poster just refuse to discuss the debts and pay your loan off and then get rid of these guys they are very bad news and I am sure will keep you debt ridden for life.

catchooky

Hi there I work for provident as a clerk and we deal with these all the time, at the risk of sounding like im promoting them, it genuinely is a good idea (wish theyd buy my debt lol) they give u a discount so u dont actually pay the full amount of what you owe and the weekly is generally a great deal less than the normal payments.

It is an interest free loan but it is on a debt you already have and i would imagine would be paying anyway, unfortunately as a menber of staff im not eligible

xx

catchooky

and neverlearn you can call your local office (the number should be on the back of your payment book) and the clerks or the managers can take payment via a debit or credit card - just let them know if you want the payment to go towards any of your loans in a specific way and they'll put that through for you - but call your agent to let them know not to call and that you're payin via phone. If you call the head office number the payments take longer to go through as they have to get forwarded onto the local office to get processed from there which takes longer. xx



barbie yes they are interest free we are instructed to confirm this in writing in the payment cards - we have to write in the apr and this def goes in at 0% - we call these fresh starts and each customer is issued with a new customer number just for these loans
xx

neverlearn

Barbiedoll, fourcandles and catchooky,Thank You for reading and replying.

Such conflicting information. Which is of course is bound to happen as there are many sides to a story and we all have different opinions and ways of dealing with stuff.

I value all your opinions and support.

What niggles at the back of my mind and I have mentioned this in my on going diary.

Although I am sure these debt are 6 yrs and older, there for statute barred. They are still debts I have ran up and not paid.

Can i truly say I am debt free, if i have monies owing that I have not paid. I am sure there will be people who will advise, why pay money you don't have to ?

Its just that I will always know i have debt I have not paid back but got off with.

Really at a crossroads and don't know what to do now ?

Have provident bought my debt for a lot less and then asking me for the full amount ? that way they profit and it looks like they giving me a interest free loan, for instance.

They buy my debt for, lets say £50, then charge me £150 on a £200, they gain £100 and I save £50.

But which ever it is, they are my debts to pay BUT

I hate the though of being ripped off, if they were honest and explained all up front, that would be a different matter.

!!!!!! All comes back to me.......Just makes the resolve stronger......When i become debt free......I am bl**dy staying that way

:money:

catchooky

hmmmmm couldnt possibly advise on statute barred etc as i dont know sorry!xx

chanz4

I think they bought them for 10p in the pound, and as you say thats the way they they claim its 0%. Someone I work with is a rep for them, thats how I know

WRINKLES

:eek:

catchooky wrote: »

Hi there I work for provident as a clerk and we deal with these all the time, at the risk of sounding like im promoting them, it genuinely is a good idea (wish theyd buy my debt lol) they give u a discount so u dont actually pay the full amount of what you owe and the weekly is generally a great deal less than the normal payments.

It is an interest free loan but it is on a debt you already have and i would imagine would be paying anyway, unfortunately as a menber of staff im not eligible
xx[/QUOTE You make it sound as if Provident are now a caring charitable philanthropic company , when in fact they are uncaring devious moneylenders , they care about squeezing as much money as they can from the financially illiterate , they have formed links with DCA s , who have thousands of statute barred debts on their books and little chance of collecting on them , so why not let the friendly Provident agent talk them into paying up on debts that can not be enforced through the courts .