Provident - irresponsible lending?

CakeCrusader

My family lived on the breadline, my dad didn't work, he was an alcoholic and I suspect he had undiagnosed depression. Ever since I can remember he was stuck in a cycle of borrowing money from Provident. I know that he should have been more responsible, but he'd almost finish paying one loan and they would give him another one, they didn't do any income checks at all, and they kept doing this right up until he died. 30+ years of loans while there was little food in the cupboards as there wasn't a great deal of benefits left by the time he'd paid the Provy lady, so their lending affected us all. The loans didn't last very long as the majority of it went towards paying off the previous loan and the interest rates were massive.



He passed away years ago, but I'm still angered by this as my dad was vulnerable, is there any way that I can get this looked into or make a complaint?



Many thanks!

[Deleted User]

The executor of his estate could make a complaint, but the complaint reasons would need to be factual.

Some of your details seem vague - such as he would finish paying off a loan and take another, but also that he used the next loan to pay off the rest. You would need to stick to what you were sure of and can evidence.

Years after his death, I would let it go.

Kentish_Dave

I’m sorry that your father failed so badly to provide the love and stability that he should have but you cannot blame a company with whom he did business for that.

Even if you could, money is no compensation for how your father neglected his responsibilities. You may be better off seeking counseling and taking care of your own family through holding down a good job and being there for them than chasing compo, which rather risks continuing a problematic cycle down the generations.

Willing2Learn

CakeCrusader wrote: »

… He passed away years ago, but I'm still angered by this as my dad was vulnerable...

Deleted_User wrote: »

Years after his death, I would let it go.

Just to echo this comment. It cannot be helpful emotionally, to carry this anger with you for all theses years. Instead of the anger, cherish the good memories you have of your father...I am sure there were plenty of good times too...

CakeCrusader

I have a job, thanks, and I'm not chasing compo! I'm sure this has happened to other families and it's still happening, I just don't think they should be allowed to get away with it. Their business model is to offer money to people who can't get a loan elsewhere and they make sure the loan is never paid off. Once a client gets anywhere near to paying a loan off, they offer another loan and use a chunk of the new loan to clear the previous loan. It's a continuous cycle.



My dad was a depressed alcoholic so good memories are a bit thin on the ground. Nothing to do with debts though, although I'm sure they didn't help his mental state.

boo_star

CakeCrusader wrote: »

I have a job, thanks, and I'm not chasing compo! I'm sure this has happened to other families and it's still happening, I just don't think they should be allowed to get away with it. Their business model is to offer money to people who can't get a loan elsewhere and they make sure the loan is never paid off. Once a client gets anywhere near to paying a loan off, they offer another loan and use a chunk of the new loan to clear the previous loan. It's a continuous cycle.

Offering a loan isn't "making sure" it's never paid off. The borrower can just say no. They're not peddling physically addictive substances here.

Jono111

The trouble is if he was really an alcoholic he would have found the money one way or another.
If you accept he was going to drink no matter what then those loans may have stopped him ending up on the streets.

Woolco

Hi. This Provident Financial is a terrible business. My mum was forever in their debt. I think in the 70's and 80's they were a bit more mainstream but today I feel they need looking at by Government.

I remember having to hide behind the sofa and keep quiet on a Friday evening when the Provvy women came to collect the weekly payment as my mum didn't have the money to pay her so she would not open the door.

Once, near Christmastime, she said Brittish Home Stores was having an "evening" where the store would be open only to Provident customers. She offered my mum a card and all she had to do was buy whatever she wanted and show the card. It was basically a high interest loan and no doubt BHS was giving Provident a bung.

My mum said she did not want it. But the agent said she would leave it with her anyhow. Well my mum did then go to the store and run the credit limit up. Only to be paying this off for years.

I don't like Provident at all. At one point they also donated large amounts of money to the Conservative Party.

Sorry to hear about your situation, but the only advice I can offer is try and keep Provident in the past and move forward.

[Deleted User]

The moto should be let the Provi in, never get rid, if you can't afford them!!. My hard as nails Nan used to have this lot on the go plus a legal loan shark. (If I said the town you'd get it)
I was pretty glad very recently a short term lender declined (totally get the reasons)(I was in work but understand to risky for them).(they were proved right anyhow) so something must be working. Your Dad will have played a part in making good for those who go on to make an honest application.

Though watching my cat die the way it did in the early hours (quite prolonged as I wouldn't have had the funds to pay to put to sleep as it is I'm just being charged the cremation) I would have done anything and no amount of money can bring her back. (I also learnt what a rotten, rotten job vets can have) when I started out to the vets with an alive cat it was £225 + VAT emergency call now it's £110 as should I be lucky it died in my arms.

I'm quite glad c!#*&y job said do one now as it meant I got extra time with her leading up to the end. I just didn't know it. She came into my life when I was on anti D's and went out same way.

I also used to think "treating customers fairly" meant one thing - but actually it means several so don't torchure yourself.

dealer_wins

This "was I mis-sold" nonsense is getting ridiculous.

What next, obese people suing McDonalds etc for serving them burgers too many times in a year!

CakeCrusader

dealer_wins wrote: »

This "was I mis-sold" nonsense is getting ridiculous.

What next, obese people suing McDonalds etc for serving them burgers too many times in a year!

Thank you so much for taking my question seriously, your response was very 'helpful'!