i wish to remain annonimous

i am just posting this to warn you all or the current operating proceedures by this company, if you dont know already but Provi and Greenwoods are the same company, i am a regular poster on her so am doing this on the quiet, i will only post this an the return to my usual id. they both operate out of the same office

Provident and Greenwoods are currently going after old debts, older than 6 yrs, some are 10+ years, this is unlawful and up to now is not going along with it, what they are doing is simply renewing the paperwork calling it a fresh start loan agreement, where the customer doesnt actually get any money just a rehash of the old loan, but if the customer agrees they owe the money and after so long in a panic they sign papers agreeing to the fresh start, but here's the catch, if you owe provi, they send a greenwoods agent to collect stating they have been passed the debt to collect and viceversa, thus using an in house debt collecting system.

so if you know you owe these companies money, just cos they dont call for years that dont mean they have forgotten.

if you owe these companies money and are struggling to pay, you have a few options, firsly talk to your agent, they will accept lower regular payments, just talk to them. if you cant even manage that and have not paid in weeks and are worried they are going to take you to court, dont worry! they will only take you to court after 20 weeks of none payment, but even if you pay 1 payment after even 19 weeks, then they have to start the waiting game again, the 20 week period starts again. also, any paperwork you sign for these companies MUST MUST be done infront of the agent, otherwise the loan is unlawful and can be challenged, also take a look at the payment book, does it correspond to the agreement, sometimes the agent cocks up the percentages etc and that also that there are no mistakes on the paperwork as the agents are under a lot of pressure to sell loans, (thats what they call it, selling loans).

oh and they now impact on your credit file, until recently about 2 years ago they didnt bother with credit checks, they do now tho.

Why do people work as an agent for a company like this, well cos they pay well, very well indeed, which is part of the reason the interest rates are astronomical, dont get me wrong, while there are aspects of these companies that do annoy me, i believe there is a place in our society for them, if the government reigned in a tighter control on them then they would cease to exsist as every one gets a cut from your loan and they wouldnt be able to pay any one, eg, some one borrows 100 over 33 weeks, they pay back 163.00 ish, out of the 63 interest, the agent gets a cut, the agents manager gets a cut, the agents managers manager gets a cut, and believe me when i say that leaves about 10 profit for the company them selves, take them out of the equasion ( which would be financial suicide for the government) then what have you left, the banks wont lend to high risk customers, you are left with the loan sharks etc, who would you rather lend off, what also companies like thes have going for them, if if you borrow money and miss a payment, there is no penalties unlike a banks high rates, the agent will just smile and arrange to call the next week.

also if you have an agent who is nasty or rude, remember that they have a manager and if that agent is a bad one that impacts the percentage the agents manager gets, which he wont be happy about.

any way i just thought i would give some inside info incase you need it, if this helps you then great, if not please dont pm me as i wont respond.

hi i was searching today for some info on greenwoods and came across your post, thank you so much, i have been having huge trouble with my local branch, long story but have sent them several letters all by recorded, one via the agent several months ago, and a complaint to head office and emailed the head office and i still have not had ONE reply, get the standard letters sent to me but nothing in reply to my letters, i even hand delivered one a few weeks ago with a cheque inside, which has not been cashed, after having read your post re the twenty week before court action, i believe that is why they have not cashed the cheque!! its been 17 weeks since my last payment!! so im going to use the barcoded letter to pay at a paypoint tomorrow!! and have resent the hand delivered letter by recorded delivery, just wanted to say thanks as that 20 week rule you put may just have saved us from going to court!! thank you so much, we are really struggling at the moment, i have a serious illness and husband was made redundant in January and they still wont reply to my letters asking for help, they will get £5 every so often!!

This is very disturbing.

Of course many are aware that Provident and Greenwood are one and the same.

Thanks for heads up on this.

This is very disturbing.

Of course many are aware that Provident and Greenwood are one and the same.

Thanks for heads up on this.

it def is disturbing, we have quite a few debts and with help from this website and payplan have agreed repayment plans with all but greenwoods, yes they are the same, in our area greenwoods and provident share the same postal address, cannot believe that they will not reply to any of our letters, does anyone have their sort code and account number as i have asked on each letter to pay by standing order but no reply, do not want the agent to call so not sure apart from paypoint how else to pay them.

Will move the thread into "Other Institutions"-this is the forum for Greenwood and Provident issues-so will likely be of interest to others there.