Provident to wipe loans for tens of thousands of borrowers - what it means for you

MSE_Rosie

Doorstep and short-term lender Provident Personal Credit has announced that it will no longer be collecting loan repayments, as it prepares to shut down on 31st December 2021. 

Read the full story here.

Click reply below to discuss. If you haven’t already, join the forum to reply.

Own_Worst_Enermy

And?

My late Nan died on 40th birthday this year, with everyone saying she would died alone after dealing with the provi of many years We would not have provi members turn up, to claim their stake, as no funeral means this simply didn't happen ML

The Co-op burnt her alone in a simple cremation, with no one around . With no one present, Martin Lewis!  before you think you are all that!!! and can go on to berate people with no money,...
But make a mockery of them yeah in plain mse style??!!

I mean who is going to look after people who have not much money.

MSE???!!

prowla

Own_Worst_Enermy said:

And?

My late Nan died on 40th birthday this year, with everyone saying she would died alone after dealing with the provi of many years We would not have provi members turn up, to claim their stake, as no funeral means this simply didn't happen ML

The Co-op burnt her alone in a simple cremation, with no one around . With no one present, Martin Lewis!  before you think you are all that!!! and can go on to berate people with no money,...
But make a mockery of them yeah in plain mse style??!!

I mean who is going to look after people who have not much money.

MSE???!!

I don't see anything berating and mocking people who have no money?

smashinglynaive

So what does the letter actually say?

Because saying "we won't be collecting loan repayments" is a far cry from "we're wiping your debt."

If it's merely the former then there are going to be a lot of rather disgruntled people who end up getting letters from DCAs who've bought these debts chasing them for repayment when they've been lead to believe (by MSE) have been wiped.

fatbelly

Debt Camel has the full story here

https://debtcamel.co.uk/provident-scheme-claim-refund/

pickledkate

Does anyone know how this works if the debt was passed to Lowell? The provident loan was from 2009 and Lowell only started hounding me for it after 6 years had passed. So its been 12 years since the loan defaulted.

I've asked Lowell what happens now that Provident are no longer collecting payments and are doing the scheme claim refund etc. Obviously they're saying I still need to pay them.

Thank you

purple-dub

My friend has had a letter from Provident to submit a claim for compensation. 

A few years ago I got her outstanding debt written off on medical grounds, after she attempted suicide twice due to being unable to make repayments. 
However it has been eating me up ever since - the agent knew her, and knew she did not need the loan, and couldn't afford it, being housebound and living on benefits due to her disability. She took full advantage of my friend's vulnerability, and my friend lived in torment for months. She lost friends and family, because of the suicide attempts, and, had she succeeded, nobody would have known it was because of this debt. 

She's asking me if she should submit this claim, but I would like to know if there's a way the company and their former agent could be held accountable for their predatory methods? 

smashinglynaive

purple-dub said:

My friend has had a letter from Provident to submit a claim for compensation. 

A few years ago I got her outstanding debt written off on medical grounds, after she attempted suicide twice due to being unable to make repayments. 
However it has been eating me up ever since - the agent knew her, and knew she did not need the loan, and couldn't afford it, being housebound and living on benefits due to her disability. She took full advantage of my friend's vulnerability, and my friend lived in torment for months. She lost friends and family, because of the suicide attempts, and, had she succeeded, nobody would have known it was because of this debt. 

She's asking me if she should submit this claim, but I would like to know if there's a way the company and their former agent could be held accountable for their predatory methods? 

You should not submit this claim and other is no way they will be held accountable.

The company is gone, caput, and that's it.