Provident I just Can't Afford To Pay

adewolves

Me and my wife both have loans with Provident below is the breakdown of what we have with them.
Myself
1000.00 loan over 105 weeks 39 weeks paid
300.00 loan over 55 weeks 26 weeks paid
200.00 loan over 55 weeks 20 weeks paid
100.00 loan over 55 weeks 10 weeks paid
100.00 loan over 55 weeks 4 weeks paid

My wife
800.00 loan over 105 weeks 56 weeks paid
200.00 loan over 55 weeks 8 weeks paid
300.00 loan over 55 weeks 4 weeks paid

We are paying 68.00 a week on these loans and we just can't do it anymore, we have been robbing peter to pay paul for so long now its crippling us, its meant we have got behind with council tax and rent. I went to the cab they gave me a self help booklet. I wrote to Provident on Wednesday with my financial statement and offered them 20.00 a month. I just wondered what will happen now. Any advice most welcome.

jonesMUFCforever

Can you explain why you need to take these loans out with Provident.

Do I take it that your credit rating is not good and this is the reason you are using them (because nobody else will lend to you?)

It looks like you both took out a loan just a few weeks ago in the knowledge that you were struggling.I would make a full statement of affairs detailing all of your income and expenditure.

Priorotise bills that have to be paid such as your rent and council tax.
Do not take out any more loans! Go to the debt free wannabee board for more advice.
Sometimes when you see outgoings on paper you realise that some things can be lived without - savings can be made here to put towards your debt.

adewolves

What I want to know though is what is the worst Provident can do if I can't pay, as I said I've sent a financial staement to the head office and made an offer of 20.00 a month as advised by cab. Thanks for your help.

mountainofdebt

I really don't know what Prudential can do you if you don't pay but I would fully endorse what ejones999 has suggested.

What we will need from you on the Debt free Wanabee board is fully details of your income, expenditure and details of all your debts including limits, aprs, and balances.

As ejones999 said, its surprising how other people can suggest ways of reducing your expenditure without too much cutting back.

Also people will be able to check if you are in receipt of everything you are entitled to.

The other way of paying back the loans is to have a look around the house as to what you can ebay - and then throw the money raised at the debt.

This might not answer the question that you originally asked but to be honest it is the answer to the question you should have asked.

adewolves

CCJ's, bailiffs etc.. try the links in my previous post for further advice

I didn't think they could send ballifs until i missed a payment on a ccj. A ccj doesn't really worry me a Baliff does. Advise on this please.

I just want to stop worrying.

lynzpower

you need to come over to the DFW board pronto then we can all offer help there

adewolves

Will do. But sorry for being thick as well as skint what do I post on that forum?

lynzpower

just come over, introduce yourself and explain the probles you are having., Lots of us have been where you are and have loads of advice & tips.

mountainofdebt

Best to start off with a statement of affairs - FULL details of all income, outgoings and debts - the later to include aprs, amount outstanding and limits.

Look forward to seeing you over there.

joeblack066

Really worth doing an SOA on the DFW board, adewolves, as the advice that you will get on there is fantastic, and you WILL get to the stage where you can stop worrying!

BallerinaGirl

Hi there

I had a Provident loan which went on my CCCS plan. I have £1048.00 to pay, I pay them at £9.00 per month, I hope to increase my payments soon as a couple of my other debts will be paid.

So they can be reduced, alot!!