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Possibility of Cancelling Provident Loan?

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Hi guys;


I took a provident loan for £700 on mid december. And i said i would clear the whole balance by the first friday of January.


However, the guy was supposed to call me to collect the payments but he never did and until now, i have not made any payment yet. Other day my sister called and said the guy showed up at the house twice (last 2 fridays)


However, i wanted to clear the balance by the 1st week and not pay anymore interesrt.


The other thing is that, i received a form from them in January which was posted in december for cancelling the agreement. Letter said that i needed to send it within 5 days of receiving it. So i did, bu i sent it a week ago.


Now i was wondering, because of Christmas and new year period, do i have extra time to cancel my agreement?


I want to pay back the £700 and not pay any interest as i already sent the cancellation form.

Or have i sent it too late?


Can you guys please help me with this matter?


Many Thanks...

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  • 1 month later...

Hi there again;


It has been a while since the last time i have heard from provident since i have contacted them. I explained them how i sent my cancellation letter and was waiting for a respond from them.


2 weeks ago a guy called me telling me how i have not been paying my loan back and how i was avoiding them etc!

I said, i sent them the cancellation letter and have contacted their office and waiting for a respond. i have recieved 2 letters from their office. First one was to tell me they were investigating and the second one was saying they couldnt come up with result and still investigating and would get back to me within 28 days.


When i explained this to the guy who called me, he said can you pay it off (the amount without interest on it: £700) i said YES, thinking i would have time to borrow from someone within a week or so. He said "by tomorrow" and the line cut off (i live in a bad reception area!


After the call, he didnt bother calling me back or sending me any letter to confirm anything! And few days ago, i've recieve a letter from provident telling me how i failed to keep up with their offer of clearing the balance! They said they havent recieved the letter till february (which is a lie) and even though they accepted to cancel my agreement, they now wont do it because i failed to pay £700 the next day!!!!!


Now, where am i at this? can anyone please guide me? The letter says they are giving me 8 days to respond so i need to contact them asap! I sent the cancellation letter in time, and i had the cash to clear the balance then, but i dont have it anymore! Not till April! And now they are still charging me interest! I had £700 in January to help me clear the balance but now i spent it to fix my bike which cost me £599!


Can anyone please please help me? I am lost and i am not planning to pay them a penny extra than £700. What are my rights?


Many thanks...

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Contact the OFT and Trading Standards via Consumer Direct, they are being very devious about this, clearly their record keeping is not what it should be and clearly they are trying to play games with you.


Contact your local MP and let them know the story, MPs are trying to become proactive in their approach to companies like this now.

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