Rules for OAP's and credit

jaxxy00

I have been asked to find out for someone if it is true that when you are over 70 you cant get credit/loans/hp anymore.

They have had provident loans (no good trying to tell them) for years and always paid. Now they want to have another and have been told they are not allowed due to their age. Is this true ar just the provident dont want to lend anymore?

Cumbrian_Male

Does this person currently have a loan with Provident? If so then she should be offered credit of up to £15 per week over 31 week term. If they paid their account off more than 6 months ago then they won't be able to have another at over 70. If they paid up less than 6 months ago it will be at the discretion of the area manager.

I am a current Provident employee.

Hope this helps.

jaxxy00

Thanks Cumbrian Male. As far as i know they do have current provident loans that they are paying back. They have a lady go every Monday for the money. I will let them know what you have said. Thanks again.

The reason they are wanting one is to get a new cooker as they are having to put a broom handle against the door when the oven is on to keep the door shut and make sure things are cooked properly.

Cumbrian_Male

Maybe they are up to their limit?

icefall

They could try a Credit Union instead.

jaxxy00

Thanks everyone. I have passed the info on and she does currently have 4 provident loans on the go :eek: and is as suggested maxed which is why she cant have anymore.

beanielou

As has been sugested could try a credit union.
If they could save even a small amount each week they can then borrow three times that amount & their rates are a lot lot cheaper than the provie.

Cumbrian_Male

Do they qualify for pension credits? Is a social fund loan feasible?