| Product: |
Other Personal Loans |
| Date: |
30/09/08 (326 review reads) |
| Rating: |
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Advantages: NONE
Disadvantages: EVERYTHING
Please stay well clear of PROVIDENT loans. I was a single mum and first took one out when my first daughter was a couple of months old. I thought it was an ok idea as I could pay it back weekly with someone coming round to my door to collect money. This was fine to begin with until they decided they wanted me to take more. One point I had the manager round to get me to take one and they put so much pressure on you that you cave in eventually. All you see is the big wad of cash they are offering and you just think of everything you can do with it. The repayments got a bit much for me but I carried on as best I could and then they just stopped coming to my door. I got a couple of letters saying that they could never get me but I phoned and said I am usually in. Yet when the manager came round he always got me! Don't think the agent could care less.
A year later I moved house and had actually completely forgotten my loan which I had to repay. By this time I was living with my partner and was 7 months pregnant. The hassle really started, I received a letter sting I owed them a lot more than I actually did but I couldn't remember the figures. I phoned them and they were awful, calling me a liar, trying to put pressure on to me so they thought I would admit to that much debt. I was in tears so many times and the stress did me no good. They claimed that they had taped phonecalls admitting that I had that much debt but when I said I wanted a copy they refused. I phoned back the next day to speak to someone to get a copy and they said they didn't record calls.
In the end I got advice from a debt company and sent them a recorded letter asking for a statement proving that I owed them that much and copies of the statement which I signed. Have they ever been back in touch? Of course they haven't!
They are a bunch of cowards at the end of the day and preying on the most vulnerable!
Summary: Really awful please stay clear
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Last comments:
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- 01/11/08 Can I just add that I have also had loans from this company. I went through the same problems and the managers can be very persuasive, to a young person you don't think about the consequences at the time until it all catches up on you. I took my loan out when I just turned 18 and managed to make the payments at first until I also caved in and took out more. They never came back to my door for payment and I have since moved house and have heard nothing from them in over 5 years but I would never go back to them...ever
On top of this - I was never given a payment book as the agent kept it. |
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- 03/10/08 In reply to the above comment. Yes I did have a payment book which they took away to update and I never received it back again this will be because the agent stopped coming to my house and when the manager did visit he never had it as said the agent had it. I never stated the interest as it will be different now as to when I took it out so it would be no use to anyone reading this review. Finally no they didn't force me to sign for the loan and I never stated this I told it exactly how it was and I caved in! |
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- 30/09/08 Whats the interest on these loans and how does it compare to the high street? I know that you are given a payment book with the loans which shows exactly how much you owe and every payment you have made so if you had kept hold of it then you could prove exactly what you owe. Sounds like you are just as much to blame as them in this situation they certainly cant force you to sign for a loan even if they do use the hard sell techniques. |
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