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Provident - Here's a thing!


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I have a couple of outstanding loans to Provident that I have been paying a reduced weekly payment of £1.50 (should be £30).

 

I received a phone call from my local office late on Friday from the office manager saying that she would like to call on me to sign a 'new agreement' for the total balance on the accounts (a little over 1k) with reduced payments of around £7 or £8 per week ....... she went on to say that the alternative is court action.

 

Why would they need me to sign a new agreement :-?

 

They seem pretty desperate for me to do so.

I started with nothing - and now years later, I have most if it left!

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Wait for the letter to arrive.

 

No action, however unlikely that may be, can occur unless they have written to you.

 

They are probably on the rocks, or have come up short for their xmas party

 

If they do write to you, pop the letter up on here, and the advice will flow.

If my advice or input has helped, by all means tip my scales

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Depends on what sort of agreement they are offering you but usually these 'roll-ups' involve a higher rate of interest than your existing loan so be v. wary.

 

Have you ever submitted a CCA to Provident to see if the loans are actually enforcable? They need to be able to produce a CCA in the correct format & on many old loans the CCA is not available. No CCA, no legal rights to payment. It's possible that Provident have realised they don't have any enforceable agreements & want you to sign up to a new one that they can then enforce.

Any knowledge I possess or advice I proffer is based solely on my experiences in the University of Life. Please make your own assessment of legality, risks & costs before taking any action.

 

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"It's possible that Provident have realised they don't have any enforceable agreements & want you to sign up to a new one that they can then enforce".

 

Spot on foolishgirl

 

I think your suggestion is closer to reality there.

 

Tread with caution Augmented

If my advice or input has helped, by all means tip my scales

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I have a couple of outstanding loans to Provident that I have been paying a reduced weekly payment of £1.50 (should be £30).

 

I received a phone call from my local office late on Friday from the office manager saying that she would like to call on me to sign a 'new agreement' for the total balance on the accounts (a little over 1k) with reduced payments of around £7 or £8 per week ....... she went on to say that the alternative is court action.

 

Why would they need me to sign a new agreement :-?

 

They seem pretty desperate for me to do so.

 

Court action! For what exactly? You are making payments at an affordable rate and any court is only likely to maintain that and not force you to make payments you can't afford.

 

Sign nothing and tell them to 'do one'.

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It's possible that Provident have realised they don't have any enforceable agreements & want you to sign up to a new one that they can then enforce.

 

That did cross my mind to be honest - the agent that signed me up for the loans left rather suddenly!

I started with nothing - and now years later, I have most if it left!

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Court action! For what exactly? You are making payments at an affordable rate and any court is only likely to maintain that and not force you to make payments you can't afford.

 

Sign nothing and tell them to 'do one'.

 

Absolutely .... thank you!:D

I started with nothing - and now years later, I have most if it left!

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Spot on foolishgirl

 

I think your suggestion is closer to reality there.

 

Tread with caution Augmented

 

 

I was thinking of sending a CCA request on both accounts if only to see if they had lost/destroyed them - I am fairly sure they will be enforceable as the accounts are only just over 12 months old.

I started with nothing - and now years later, I have most if it left!

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I am fairly sure they will be enforceable as the accounts are only just over 12 months old.

 

In that case you have to assume the new agreement they want to make is prob. just a money spinning exercise i.e. they will increase the interest rate & the minimum repayments. Sit tight & tell them to bog off. Any court should support your existing repayment plan if that is all you can afford & Provident know it! :)

Any knowledge I possess or advice I proffer is based solely on my experiences in the University of Life. Please make your own assessment of legality, risks & costs before taking any action.

 

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sounds very fishy indeed, if they have an agreement then fine, if they don't then it's tough. Why should you help them to nail you down further than you may already be.

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You should not sign any new agreement, what is the APR on the new agreement?

 

Also have you claimed back any charges yet?

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I would NOT sign a new one either. It will only benefit them or they wouldnt bother.

 

Id also write and tell them not to visit my home again. I know provident can be quite pushy on your doorstep. Its your right to remove there right to call on you :-)

Ash.

 

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