Provident (The Provvi)

I am in a bit of trouble (lot of) with The Provvi. It started with a small loan of £200, with relatively low repayments about two years ago. (I found it difficult to get credit elsewhere having been told I had 'no credit history??). I now have weekly repayments of £100 a week and cannot afford them. I am worried about how to tell them and don't want to get into a hiding behind the sofa situation. What can I do? I need to reduce these payments by at least £70 a week. Any advice would be gratefully accepted........

Comments

  • Malestrom
    Malestrom Posts: 983 Forumite
    Ok, how much do you owe at the moment? If its £100pw payment then you obviously dont still owe £200! Don't take out one of their 'rollover' loans for gawds sake, they have the worst APR in the world!
    He huihuinga taangata he pukenga whakaaro – A meeting of people; a wellspring of ideas (Maori proverb)
  • fast_track
    fast_track Posts: 78 Forumite
    This is a job for the CAB - the Provi have agreed that if they get a holding letter from the Cab they will stop calling and refer the matter back to their central management team. The CAB will then send a financial statement showing exactly what you can afford (which may be as little as £1 pcm) and then that is what you pay. The provi will do this and (unlike a lot of creditors) will not continue to harrass you once you have taken that first step. Good luck
  • jen_jen_2
    jen_jen_2 Posts: 1,032 Forumite
    completely agree with fast track you need to get a third party involved to talk to provi and help you make an offer, on the good side they are useually quite reasonable when they are contacted and will stop sending the doorstep collector round - so all those impromtu games of hide and seek will have to stop!!! ;)
    Ready to Go Go!
  • fatbelly
    fatbelly Posts: 20,455 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    The Provi get a lot of bad press but they're actually quite reasonable to deal with in this sort of situation - unlike the supposedly reputable big banks. I agree with all the above. Any other debts/arrears?
  • Xbigman
    Xbigman Posts: 3,884 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    So having lent the poor b****** £200 and driven the debt so high the repayments are £100 per week, now the debt can't be paid anymore they get recommended for good customer service.

    B i g d e a l...

    Regards



    X

    PS. Unhelpfull post I know, but someone had to say it.
    Xbigman's guide to a happy life.

    Eat properly
    Sleep properly
    Save some money
  • Penny-Pincher!!
    Penny-Pincher!! Posts: 8,325 Forumite
    Hi There

    Husband used to work for Provident years and years ago, but he never pushed bigger loans etc (probably y he only lasted there 4 months!)

    IMO the problem does not lye with the lender but the person borrowing the money. We had a loan from Provident a few years back, and they are very honest in telling you the exact APR and how much X amount loan will be each week etc. We paid it up and never borrowed again-we were black listed at the time and were very desperate.

    Although their APRS are daylight robbery, you are aware of them and is down to you to either take the loan or not. Personally, I feel they prey on people on low incomes/benefits, but i suppose loads do in one way or another. Shop-a-cheque is another one-there just as bad.

    I would contact the CAB and ask for their help. I asked hubby and he said there were a few people who only gave him £1 a week and he had to accept that.

    Good luck

    Penny-Pincher!!
    xxx
    To repeat what others have said, requires education, to challenge it,
    requires brains!
    FEB GC/DIESEL £200/4 WEEKS
  • doelani
    doelani Posts: 2,576 Forumite
    First Anniversary Combo Breaker
    I also worked for Privident for 4 years, tel your collector you cannot pay the full amount but make a token payment even if it is oly a pound of each loan you have with them. I take it if repayments are £100 there is more than one loan?

    I seen many people who could not make payments and as long as they paid something Provident accepted it. Do not try to hids the difficulties from your collector, they cannot get money from you you do not have.
    TOTAL 44 weeks lose. 6st 9.5lb :T
  • Ditto the above!! They will take any amount you can offer...... i know from experience. Just be upfront to your collector and you will be fine!

    Coffeeandfags
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