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42 Provident doorstep loans - dismissing IRL claim?


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Hello, i have been helping a friend out who has Provident loans.

He has had for years, so I gather.

 

He has always worked but over the last year in particular is drowning with the debt, whilst paying what he can.

 

Like a idiot last summer he even took 2 loans out with Satsuma to get through

- and since defaulted on these.

Provident hasn't been defaulted to date.

 

I wrote off to Provident for him and complained about irresponsible lending as he's sure loans were paid off by taking new loans in most cases.

 

After a couple of days a letter came back dismissing he's claim and saying since 2006 he had 42 loans although they say since 20 were looked at and as most were over 3 years there's nothing to investigate.They also said they would send a full SAR.

 

I can't find a lot online regarding Provident irresponsible lending and wondering if its worth now complaining to the Ombudsman.

Edited by dx100uk
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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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  • 1 month later...

Back again...

 

Provident, came back as expected and rejected his complaint and said if your not happy you can complain to FOS....

 

Eventually he received this week all his statements.

I have looked back over the last 6 years only (I assume looking around thats all he can complain about)?

 

In the last 6 years he has had 23 loans,

4 are still active - in arrears -

and the other 19 had all been settled early to take a new loan and it looks as though the amounts of the new loans are higher each time.

He had 42 loans actually over the last 10 years.

 

Whilst i can see people have complained to the FOS

- i can't see any template letters I can amend and use?

Edited by dx100uk
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should be an example in the IRL guide

 

should be an easy win through the fos as this was refinance on refinance...

and I bet each time they took a payment within 14days too

 

just send them everything you have now

might be best to scan the lot to PDF and send them the paperwork all on a cheap penstick

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

  • 1 year later...

open

 

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

Thanks DX. 

 

Just thought I would update the thread.

 

After all this time, and out of the blue the FOS adjudicator have sent a letter with there decision and written to Provident to confirm their findings, and upheld the claim on unaffordability.

 

they have said 35 of the loans were unaffordable and should not have been issued.

They have told Provident to refund payments and 8% interest from 2011 on these.

They have given Provident 2 weeks to either accept or come back with any evidence against their ruling and forward to the ombudsman if needed.

 

This is the first we heard after the complaint was made, and no bank statements were asked for.

 

I have no idea how much the 35 loans were for, but estimate around £20,000.

And given that Provident interest rates are normally the same again - its a lot of money.

 

Has anyone else got to this stage and had the claim accepted or rejected by Provident?

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well they can't argue really 

as they've been reprimanded and fined by various authorities like the FOS/FCA etc etc so many times now, it was all but a done deal.

 

however , you are not quite reading the outcome right...

it states? Payments made + 8% from the date of each payment till today

so that's not at provi's loan int rate, and you wont get back ever what you didn't payback anyway.

but at 32 loans, that should be quite a sum.

 

have you all the statements showing the payments on the 32 they ruled on?

as you could have a very good stab at exactly what the refund will be.

of which you SHOULD do that anyway, to check they get it right.

 

so do you have that info?

 

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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All payments were upto date and loans all paid off so thats one good thing. Loans were back to 2008 - not 2011 as I thought.

 

I underatand that the actual loans paid out arent included...payment back will be the interest paid plus 8% interest?

 

So we are going to try and workout from paperwork over the weekend. What I do know loans varied between £500 and £2500. Also weekly repayments were around £100 a week for around 6/7 years so thats 5k a year.

 

 

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the matter of what interest was charged on the Loans is inconsequential .

 

As you say, the loans ran their course and were paid off in full, so the interest charged will, obviously be part of the payments paid .

however, but not in your case, should there be a balance left on a loan, be the interest or not, that would not form part of any refund.

 

so use the statint sheet above

enter EVERY payment made on each of the loans (I suggest ONE statint sheet per loan)

the spreadsheet will automatically calculate the 8% due back for you.

BUT, you MUST enter each payment on the day it was made, individually.

 

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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