MSE News: Provident to limit loan mis-selling payouts for 4m customers under new redress scheme

p3ncilsharpener

WoodyEU said:

p3ncilsharpener said:

WoodyEU said:

p3ncilsharpener said:

WoodyEU said:

Deleted_User said:

WoodyEU said:

They can't claim anything from me, it's statute barred, I was just wanting to know if I can still claim from them.

They don't have to claim anything from you. The debt is statute barred but it doesn't go away, so any redress is offset against your remaining debt.

Thanks for the clarification and setting me right on that, it's really appreciated.
3yrs at £20pw = £3,120 plus interest at 8%per year (if I'm right... I'm always open to correction) is still a lot better than approximately £200 plus interest.
I'm still nearly £3k better off 🤷🏻‍♂️ aren't I?
Anyway, still haven't got the answer I want which is if I can even claim, so until that has been answered...
Thanks again for clarifying the other matter, always good to learn.

From the very article linked to in this thread

You must have taken out the loan between 6 April 2007 and 17 December 2020 to be covered by the new redress scheme.

So you're out of luck.

I wasn't refering to this scheme, I was referring to the fact that I complained back in 2000 and never got a response back then, except for them acknowledging my complaints and they would be in touch once the person was back from sick leave, which they never did.
So I didn't know if I could still chase them for the monies owed to me, or not 🤷🏻‍♂️
Thanks for your reply though, I appreciate that people are taking notice of my post and getting involved. 🙏🏼

Well you've mentioned the debt being statute-barred, that applies both ways.

Thank you, that's appreciated as I didn't know that. I genuinely thought it was different for consumers with all of the ppi claims that was going back to the 90s and even 80s in some cases that I've heard about.

PPI was a special case.

[Deleted User]

WoodyEU said:

p3ncilsharpener said:

WoodyEU said:

p3ncilsharpener said:

WoodyEU said:

Deleted_User said:

WoodyEU said:

They can't claim anything from me, it's statute barred, I was just wanting to know if I can still claim from them.

They don't have to claim anything from you. The debt is statute barred but it doesn't go away, so any redress is offset against your remaining debt.

Thanks for the clarification and setting me right on that, it's really appreciated.
3yrs at £20pw = £3,120 plus interest at 8%per year (if I'm right... I'm always open to correction) is still a lot better than approximately £200 plus interest.
I'm still nearly £3k better off 🤷🏻‍♂️ aren't I?
Anyway, still haven't got the answer I want which is if I can even claim, so until that has been answered...
Thanks again for clarifying the other matter, always good to learn.

From the very article linked to in this thread

You must have taken out the loan between 6 April 2007 and 17 December 2020 to be covered by the new redress scheme.

So you're out of luck.

I wasn't refering to this scheme, I was referring to the fact that I complained back in 2000 and never got a response back then, except for them acknowledging my complaints and they would be in touch once the person was back from sick leave, which they never did.
So I didn't know if I could still chase them for the monies owed to me, or not 🤷🏻‍♂️
Thanks for your reply though, I appreciate that people are taking notice of my post and getting involved. 🙏🏼

Well you've mentioned the debt being statute-barred, that applies both ways.

Thank you, that's appreciated as I didn't know that. I genuinely thought it was different for consumers with all of the ppi claims that was going back to the 90s and even 80s in some cases that I've heard about.

PPI claims were a bit different as the regulator decided they could apply miss-selling rules retrospectively so the time bars were being waived

Happy_Kitties

I have inputted all of my details as given by Provident for a claim but my mum also had information sent to her. I rang up to say that she had died in January 2021 (very basic will,I’m next of kin, no probate, didn’t own her own property)/ and they didn’t really know what to do. Was she mis sold yes, she would take out another loan to part pay off the previous loan at one stage she had about 5 or 6 loans on the go pretending she had an income from my brother and they just accepted her word. Don’t really know what to do and neither do they!

[Deleted User]

Happy_Kitties said:

she had about 5 or 6 loans on the go pretending she had an income from my brother and they just accepted her word. 

That's normal. If they assumed that every application was fraudulent, verifying the answers to every question would take forever. 

I would quietly drop that one.

Happy_Kitties

Deleted_User said:

Happy_Kitties said:

she had about 5 or 6 loans on the go pretending she had an income from my brother and they just accepted her word. 

That's normal. Checking that everyone was telling the truth on every question on every application would take forever. 

Can I just ask would a claim still stand even though she has died. They asked for all sorts of info like probate which we didn’t need, I just had a basic will and I sent the death certificate. They weren’t sure what to do and when I asked for further clarification they still weren’t sure now she has died

ThisnotThat

Happy_Kitties said:

Deleted_User said:

Happy_Kitties said:

she had about 5 or 6 loans on the go pretending she had an income from my brother and they just accepted her word. 

That's normal. Checking that everyone was telling the truth on every question on every application would take forever. 

Can I just ask would a claim still stand even though she has died. They asked for all sorts of info like probate which we didn’t need, I just had a basic will and I sent the death certificate. They weren’t sure what to do and when I asked for further clarification they still weren’t sure now she has died

Unless she had no assets you would need probate.  Given she's not around to answer any questions and it's likely you probably needed probate I'd be inclined to drop it.

[Deleted User]

It's not a claim, but a complaint. And for a complaint, you need to have mis-selling reasons.

Given her fraudulent application, I wouldn't hold out much hope and you may not want to have the events detailed in their formal response.

Happy_Kitties

ThisnotThat said:

Happy_Kitties said:

Deleted_User said:

Happy_Kitties said:

she had about 5 or 6 loans on the go pretending she had an income from my brother and they just accepted her word. 

That's normal. Checking that everyone was telling the truth on every question on every application would take forever. 

Can I just ask would a claim still stand even though she has died. They asked for all sorts of info like probate which we didn’t need, I just had a basic will and I sent the death certificate. They weren’t sure what to do and when I asked for further clarification they still weren’t sure now she has died

Unless she had no assets you would need probate.  Given she's not around to answer any questions and it's likely you probably needed probate I'd be inclined to drop it.

She had no assets. They had her certificate and I still have a code from them for m6 mum to access the claims portal

sourcrates

This company is under a scheme of arrangement, even if all your complaints were upheld, and you were awarded redress, you would only see around 4% of that money, as the pay outs are limited.

ThisnotThat

Happy_Kitties said:

ThisnotThat said:

Happy_Kitties said:

Deleted_User said:

Happy_Kitties said:

she had about 5 or 6 loans on the go pretending she had an income from my brother and they just accepted her word. 

That's normal. Checking that everyone was telling the truth on every question on every application would take forever. 

Can I just ask would a claim still stand even though she has died. They asked for all sorts of info like probate which we didn’t need, I just had a basic will and I sent the death certificate. They weren’t sure what to do and when I asked for further clarification they still weren’t sure now she has died

Unless she had no assets you would need probate.  Given she's not around to answer any questions and it's likely you probably needed probate I'd be inclined to drop it.

She had no assets. They had her certificate and I still have a code from them for m6 mum to access the claims portal

But you have no right to access the portal with your mum's code.  It's for her use only, and even if you were the executor, they'd need a code to access it as her executor, not as her.