Provident reclaim interest

rippedoffandmad

Hi has anyone had any information from provident after using their portal for reclaiming interest from loans taken out and classed as unaffordable 
I have about £5000 in total of fully repaid loans.
 I was on ESA benefit only at the time and struggling financially when I took out the first loan and the agent and manager were aware of my health problems (prescribed morphine nd many other medications which didn’t contribute to a fully conscious decision making state) and financial situation and was allowed to dig myself into a large financial hole by taking out further loans to consolidate each time which fortunately I did get assistance From my parents and paid it all off.
I have pursued via this site to reclaim much of the interest due to the loans unaffordability at the time and they have emailed me an offer of between £192-£290 
I am unsure as how to now proceed and say no and push for a larger amount 
any advice would be gratefully recieved as I’m not fantastic with money however I manage with what little I have as I’m disabled and on ESA still and PIP benefits and morphine still and whatever I receive from them will definitely help to prepare me for my energy bills 
many thanks 🙂

AmberDepp

Provident doesn't have the money for you to take it further, they're paying 4.2557 pence in the pound of the debt owed to you which is roughly correct.

If you refuse the offer you'll just get what they're supposed to pay you, which is exactly what they've already offered you.

[Deleted User]

rippedoffandmad said:

Hi has anyone had any information from provident after using their portal for reclaiming interest from loans taken out and classed as unaffordable 
I have about £5000 in total of fully repaid loans.
 I was on ESA benefit only at the time and struggling financially when I took out the first loan and the agent and manager were aware of my health problems (prescribed morphine nd many other medications which didn’t contribute to a fully conscious decision making state) and financial situation and was allowed to dig myself into a large financial hole by taking out further loans to consolidate each time which fortunately I did get assistance From my parents and paid it all off.
I have pursued via this site to reclaim much of the interest due to the loans unaffordability at the time and they have emailed me an offer of between £192-£290 
I am unsure as how to now proceed and say no and push for a larger amount 
any advice would be gratefully recieved as I’m not fantastic with money however I manage with what little I have as I’m disabled and on ESA still and PIP benefits and morphine still and whatever I receive from them will definitely help to prepare me for my energy bills 
many thanks 🙂

There is no negotiation on this refund, you do not get to say no and hope they come back with a new offer - their repayment is as above, very small amount in the pound as part of the settlement process, take the money and use it wisely

rippedoffandmad

Many thanks for taking the time to answer , I will just accept that offer in at least they have admitted faults with their procedures . It certainly was a very hard learning curve which has kept me well away from any borrowing since …it will help with energy bills though 🙂

WastedJoker

For anyone who went through this process and ended up having to deal with a debt management company (PRA, Wescott etc) make sure you contact them to check that a. the debt has been cleared and b. whether you are due a refund for any overpayment