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Peter Crook, CEO Provident resigns in disgrace as £1.7billion wiped off Share Value


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Well it seems like Provident are having issues. Being investigated for irresponsible lending and losing a lot of money on shares.

 

http://www.dailymail.co.uk/news/article-4814606/800-000-families-face-crisis-sub-prime-loan-firm-tanks.html

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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At least 800,000 struggling families face crisis after sub-prime loan firm Provident Financial goes into meltdown

 

  • Shares in Provident Financial crashed 66 per cent yesterday as crisis looms
  • Drop believed to be biggest one-day fall for a blue-chip FTSE 100 firm ever
  • Peter Cook, the CEO, resigned in disgrace as £1.7billion was wiped off its value
  • Now 800,000 customers of it doorstep collection business are at risk

Hundreds of thousands of struggling families have been left in limbo by a mounting crisis at doorstep lender Provident Financial.

Shares in the business crashed by 66 per cent yesterday after bosses admitted that a software bug has made it impossible to collect debts from customers.

It is believed to be the biggest ever one-day stock price fall for a firm in the blue chip FTSE 100 index, wiping £1.7billion off its value.

 

http://www.dailymail.co.uk/news/article-4814606/800-000-families-face-crisis-sub-prime-loan-firm-tanks.html?ito=social-facebook

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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right surname too :madgrin::madgrin:

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

In a shock update to the stock market, Provident revealed it was being investigated over a potential mis-selling scandal which could ultimately cost up to £140million.

 

 

 

Why is this a shock ? CAG has known for some time that this company was involved in irresponsible lending ! It should have been investigated a couple of years ago.

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Just a query but they are being investigated for IR. I take it that if found they had then anyone who struggled with a loan can claim from them no matter how long ago

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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