Provident claims compensation

CampingBaby

I have just received an email saying my claim has been successful and to log on to the portal and read the letter with a offer on it, I thought to myself great I will be getting some money back, to my shock the total amount is between £3.97 and £5.96, the total of the loans was £890.00. It says that 2 of the loans were affordable and 1 of them wasn't, not sure why they are saying that, they do not even give details of dates the loans were or anything.

Has anyone else been offered such a low amount? And should i accept it or decline it? If i decline it what should i do to try and get more from them?

[Deleted User]

That seems about the right figure, given the limited payout.

If you decline it, you'd need to go to FOS, but they're not going to overturn it and you may end up with nothing.

[Deleted User]

The provident refund/compensation payout is around 4-5p per £1 of compensation agreement (not the total debt)

Debt camel site says you can appeal if you think the other 2 loans were not affordable but you would need to show that - a chain of 3 is more likely that 2 and 3 were unaffordable, 3 separate loans less so

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