Provident Personal Credit Charges?

stressedoutstudent

Hello!
So after having not got any sense out of the actual company concerned I thought maybe you guys might be able to help me out.
Here's a bit of background: A couple of years ago I got a loan with Provident. I stupidly borrowed £500 to fund me through a difficult time about two years ago with the intention of paying it back out of my next loan. I realised rather quickly how much of a mistake it was, the interest on the loan ended up being over £300 as you can imagine and not long after I took the loan out I knew I'd struggle paying it back in a lump sum so I decided to pay it off fortnightly, safe in the knowledge no further interest would be accrued. Everything was fine and I was even exceeding my payments some weeks with the help of a part time job.
About a year or so after I took the loan out, my agent was sacked due to discrepencies with payment books. Luckily, mine was barely affected (as far as I know) and my agent was replaced. Then I lost my job.
I now owe little over £100 and needless to say I am struggling to make repayments. My new agent will say things like "Whatever you don't pay will be taken out of my wages" and I recieved a text from her today saying in no uncertain terms that if I do not meet repayments this week I will be "charged" by the company. I know they cannot charge me so I can only gather she takes me for some kind of fool. So I called Provident this morning and was told that they can charge me even though I have been paying what I can whenever I can afford it and despite having told my agent on numerous occasions the reason for my payment reduction. Obviously I argued my point: it even states on thier website that they do not make additional charges! The gentleman I spoke to went silent for a few seconds before informing me that the manager will be in touch within the next couple of days.
My question is, has anybody had a similar experience with Provient and how was it resolved? Although I know they are in the wrong I am still anxious of where I stand with this, after all I owe them money even if it is only £100.
Any input would be greatly appreciated, I just want to pay off my loan and be done with them! :mad:

CHR15

Seriously, for the sake of £100 can you not flog the TV, games console or something?

I can't believe anyone couldn't muster £100 in this situation. get armed up and go down Cash converters this afternoon.

RichGold

stressedoutstudent wrote: »

Although I know they are in the wrong I am still anxious of where I stand with this, after all I owe them money even if it is only £100.

So let me get this straight, You owe them money and aren't making repayments but they are in the wrong for trying to get their money back out of you, and also for having the sheer audacity to levy charges against you for none payment. Is that about right?

stressedoutstudent

Woah, hang on a sec. That's not it at all.
As a company I know they do not charge. I arranged a lower repayment with my agent and everything was fine, she said "pay whatever you can, when you can as long as you're paying it off", which I am. Now all of a sudden out of the blue she has requested more money from me and threatened me with charges. Obviously having read other posts on this forum about Provident I am aware that by trying to get me to up my payments she is probably trying to up her wages, I imagine lots of people are behind which is affecting her income. The point is I was told one thing when I informed them about my job loss, now for some reason thier circumstances have changed. £100 might not be a lot of money to you but at the moment but it is to me. All I wanted to know is if anybody else has been told they could be charged for not paying a specific amount on one isolated payment date?

stressedoutstudent

RichGold wrote: »

So let me get this straight, You owe them money and aren't making repayments but they are in the wrong for trying to get their money back out of you, and also for having the sheer audacity to levy charges against you for none payment. Is that about right?

Sorry, where did I say I'm not making repayments? I said I'm not meeting them, as in I'm not paying what I originally was: my payments have been reduced by my agent. I have read posts on here about people who are paying £1 a week and people who stop paying after paying back what they borrowed. I am not saying that they are in the wrong for retrieving the money I owe RichGold. I got a loan from them. Although I'm struggling I am paying every time I am due, I obviously missed a couple of payments when I lost my job which could not be helped and placed me in arrears.

dealer_wins

All this stress over £100. Like others have said just sell something, get rid of the loan, and try never borrow again.

SnowTiger

stressedoutstudent wrote: »

Woah, hang on a sec. That's not it at all.
As a company I know they do not charge

Yep, there isn't a fee for paying late. It ever states this on their website. http://www.providentpersonalcredit.com/loans/:

No late payment fees

And http://www.providentpersonalcredit.com/loans/cash-loans/:

• Manageable and fixed weekly repayments
• No hidden charges or arrangement fees

Can't really blame them for trying it on though.

stressedoutstudent

I have done that to get where I am with the loan today. And don't worry, I'll never get a loan from them again.
The problem I have is not with the sum of £100, that's niether here nor there really. As I've already said I am paying it back, the repayments suit me fine but I don't understand the charges.

From the Provident website:


"Are there any extra charges?

• Unlike many high street banks and credit card companies, we do not charge for missed payments or overdraft facilities.
  
  At Provident we pride ourselves on being friendly and straightforward, and on having no extra charges, even if you miss a payment."
  
  
  

The text I recieved from the agent this morning stated that unless I make a payment of £XX this week (which is above and beyond what I agreed with them) I will be charged by the company. I cannot possibly afford this so according to the agent I will now be charged extra, which I know is wrong.

SnowTiger

stressedoutstudent wrote: »

The text I recieved from the agent this morning stated that unless I make a payment of £XX this week (which is above and beyond what I agreed with them) I will be charged by the company. I cannot possibly afford this so according to the agent I will now be charged extra, which I know is wrong.

It sounds like she's blowing hot air, unless there's anything in your agreement with Provident that allows them to impose charges.

Kj123_2

Just tell the agent to get lost, don't be bullied by them.

Pay what you can afford to pay and continue to do so. You already know they can not charge you any more, so you'll soon be down to nothing.

Good Luck

stressedoutstudent

@SnowTiger
Sorry, I've just posted exactly the same as you!
But yes, that's what I thought. This agent also calls out of the blue on unscheduled days to ask if I can make additional payments (otherwise her "wages will be down").
I can't believe how much of an idiot they must take me for though!