183.2% APR PROVIDENT Personal Credit

bouncingball

:mad: :mad: :mad: :mad: :mad: :mad: Have just recieved a mailing asking me if I want a cash loan. I cannot believe the apr of 183.2%....is this the highest rate ever found on this site???

The company/loan shark is Provident Personal Credit, details can be found here at www.provident.co.uk

Surely these people must be exposed for what they are.....LOAN SHARKS!!!!

I would be interested to know if anyone has found a higher rate as this is shocking and prompted me to post here.

PWR

CHR15

Bargain compared to this one:

Depending on the loan term, typical APRs will range from 1351.7% to 9889.3%.

http://www.quickquid.co.uk/fee-schedule.html

tom188

small loans and doorstep collectors = expensive, this is particularly the case with short term loans.

the apr is really not a particularly useful comparator.

however they can help out people who need to borrow money to replace their broken fridge if they cant get credit elsewhere.

adea

Provident are not loan sharks
As tom188 points out "the apr is really not a particularly useful comparator"
with provident there are no arrangement fees,no late fees and no added/hidden charges and they provide a line of credit that can be a lifeline for those who cannot get credit elsewhere.
Also, no matter how long a person takes in repaying the loan back, the amount they signed up for is the amount they pay back.
They are one of the few companies that will come and collect the money from your doorstep.