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Provident Personal Credit

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10 Reviews

Offering small, unsecured loans and other related products in the UK and Ireland.

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      19.02.2012 23:23
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      Avoid at every opportunity

      A while back I got a loan from this company on and the repayments were an amount that I was able to afford. The agent who gave me the loan arranged a time and day that would suit me for her to call each week and collect the payments. This was fine until she left the company and for a couple of weeks while they were looking for a replacement I had a manager collect payments, again this was fine. The problem arose when the new agent was in place and the day / time previously arranged didnt suit her so she refused to come eventhough this was what had been arranged when I took out the loan. She wanted to come at half past eight on a Friday night. I refused this as I failed to see how she could justify collecting my money at that time for her to be unable to get it into the office until Monday at the earliest, but more than likely the Tuesday as that was the "office" day for the company. She eventually said she could call on a Monday afternoon which was fine with me. A few months ago I moved house and I had alist of people to notify, they were on it but my priorities were doctors, family etc. Before I could even change my address with my bank and get onto the electoral role I had a hospital appointment, on this day I ammended my address with the hospital and that sam night I received a visit at my new address from the manager who had been to my old address. I found this very weird and whn I asked how he got my new address he stated an anonymous woman rang him told him I had an account and that I had moved house. This didn't sit right and although he maintained if you rang the office you would always get to speak to him ( which I tried on 7 occassions ) and never once got through to him even when I asked to speak to a manager. The end of my findings was that the new agent asigned to me works in admin at the hospitals and had gon through my records. This is now being taken further but it is something people need to be made aware of before considering them as a company they have no scruples and will resorts to whatever is necessary to get their own way. That as well as the minimum 200% interest makes them a nightmare to deal with

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        20.02.2010 15:37
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        Stay well clear

        I would severely advise anyone against a decision to get a loan with this company, they are extremely irresponsible lenders and the interests rates are shocking. I originally had a £500 loan with them about 3 years ago, after paying some of it off they then said I could borrow more at the time I was signed off from work and wasn't receiving sick pay so some extra cash would come in handy, so I borrowed another £300 from them, payments were going ok, I knew they were high but thought it was worth it as I had bad credit and no-one else would lend to me. After a while my partner lost his job and I was in between jobs, I explained to my area rep that due to our personal circumstances we could no longer afford to make the repayments, they reduced them slightly but the repayments were still to high. Now to put it into context a typical loan from a bank for the value of £1000 is averagely around £35-£40 per month, a reasonable and affordable amount, but provident expect double this amount for a £800 loan. The interest rates vary but I was told by another customer that their interest rates were about 200%. The company are able to charge these prices as you do sign an agreement etc and when you are desperate it can seem like the only way out, and it is for many people who need money quickly but you will be paying back these loans for years. You cannot say that you will be in the same job etc for the whole period and life in general throws things at you that you cannot predict. I am happy to say that I am useless with money, and that it is my own fault that my credit history is poor, but these kinds of companies exploit that. They are unreasonable, they do not seem to understand that if you do not have the money you cant pay them. It is a professional company although they have thrown their weight around on more than one occasion. I told them that I would contact them as soon as I could make a payment, which would have been within a month of the conversation and they harassed me non stop, I had to change my number and moved. I am now waiting for them to take legal action against me I would rather this happen so a court can tell them straight that I cannot meet their repayment demands. If it's a small loan you are looking for then I would say that provident may be worth investigating but make sure exactly what it is you are signing and do not be pulled in by borrowing more money from them.

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          09.02.2010 11:06
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          if noone else can help this is a legitimate loan company completely above board.

          Many people take out provident loans on the never never and without thinking about how much they are actually paying back, many moons ago I found myself upto my eyes in debt and having no option than taking out a small loan just to get through till payday i think it was somewhere around £200 as I have had a bad credit in the past I had nowhere else to go to be honest, it was arranged quickly and had the cash immediately but two days in the pocket then 6 months payments but it was a case of havent to at the time I think I paid back £320 on that loan so it was extortionate interest rates but at least you know there isnt going to be the violence and threatening behaviour you hear of with some loan companies. On the other side of the coin the collectors are always local people who are friendly and help all they can to make collections suit your lifestyle, and are happy to arrange furthur loans and offer special offers if you introduce friends, I personally am glad that part of my life is behind me but i know loads who still use provident services for bad credit loans and have no complaints apart from the interest rates of course.

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            26.10.2009 17:54
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            Great service if you are in desperate need but understand the high interest rates before you enquire

            After facing needing some money for my brothers wedding, and being turned down by my bank and an extension on my credit card i had two options, don't go to his wedding, or get a provident loan. After applying online (this is where they do your credit check) an agent called me within a couple of hours, and we arranged a meeting on the next monday. My agent came round, discussed the loan amount, the loan term, and the interest, and asked me to sign a couple of forms. She said she'll be round with the cash in 2 days and she was. I've had this loan for around 6 months now, and I actually like my agent. She's friendly, reliable chatty and always thanks me for paying on time, there will be a time where I will need to use provident again, and I will have no problems in speaking to my agent about it. Yes the interest rate is stupidly high but they always make sure you only take out what you can afford to pay back.

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              15.08.2009 12:14
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              A great and easy way to get money when your low on cash!

              We have come into a bit of a monetary issue, we need a car desperately, just a little old banger really, but at the minute we have no money to get one, even if it's only for a couple of hundred pound, but we can't get credit, and wouldn't ever get credit on a car again after the problems it caused last time, and the huge cost of just the interest on it (tell me when a car is worth £3500, why we were paying 150% interest on that and paying £9000...this is for a 3 year old Ford Fiesta, bog standard!). So, we were looking at a loan, but as I don't work, and my husbands credit history is well...better left to the imagination shall we say, we were finding it very difficult to get a small loan which wasn't going to end up costing us the earth, i.e. we wanted to lend around £500, but many loan places will only give you £1000 at least, then charge £80 a month, now this isn't too bad, and we would have been able to afford it, but it was us been greedy, we didn't need the extra £500, or even extra £700 as £300 would do us fine! Plus we were going to have to wait a good few weeks until we were properly approved and had the money there, I cannot get a loan with my bank as the account is at the moment with the "collections department" as they messed up and charged someone with no income...but didn't think to let me know about this, causing a build up of £200 charges. So for another two months or so, I can't get anything with the bank. And we were struggling wondering what we could do, when my mum advised I look at Provident. I went online, and looked through their website, after looking at the cost of the loans and what I could borrow (which was from £50-£500), I knew it was going to be the best option, just had to pass the checks...! Provident is a company who work by giving you a cash loan or something called a Provident Cash Card, which I think is like a debit card, which had money topped up onto it like a phone card, and you can pay bills etc with it, a good idea for people bad with money and if they have it on their person they will spend it! When you look at the interest you will see it is very high, you can take a loan out over 23, 31 or 50 weeks, at 50 weeks the interest is at 254.5% APR, which is high, this means when you take out a loan for £300 your paying back £10.50 a week. But you need to rememember this is a pretty short term loan, it's not even a full year that your paying back, and that is a minimum payment (as with a credit card), if you can pay it all back or pay off a big lump sum, the interest goes down alot, and you get that back, or knocked off. So say you wanted to treat the loan as a payday loan, you could do that, by taking out £100 when you had no money to buy food etc, then paying back that £100 the next week when you had been paid, probably with interest on it of around £50, but this is the most it would be! Sorry if it seems like I am rabbiting on, but this is the only way I can get across how the company works! :) When you apply for your loan online, you then get a phone call a couple of days later from an agent in your area, mine is called Paul. They ask you if your still interested, and check that all the details they have for you are correct. They then arrange for a time to come to your house to discuss this further with you, and continue with your application. I was very very nervous about this, I was embarrased for a start having a man come to my house and probably end up having to turn me down for a loan. But Paul was very helpful and friendly and came at a time which was suitable for me. He came round and asked me about the details again, checking spellings etc, then said he would do a quick check, I thought this would take days, and that he would go away and phone back a week later to tell me if i could have the loan or not, but no, he spoke into a phone, and they inputted my details into a system which automatically passed me or dismissed me. Now, I am unemployed, I don't earn anything at all each month, maybe £100 from here, Ciao and a little commission based work I do. I have bad credit history from overdrafts which haven't been paid off, and apparently a catalogue which hasn't been paid off (I checked my credit history and it said I owed it money but I don't actually know what this is!) and also as I am financially connected to my husband who probably has the lowest credit score you can get. But, I was accepted by Provident for a loan, I had asked for £250, but as I am not working and they don't do joint accounts, he could only give me £200, but thats very good, and the repayments are £7 a week for 50 weeks, or whatever extra I can afford to pay on top of that! Which I hopefully will be able to do, I plan on paying back £50 to him when we're paid as we're hopefully on a "rich" month...! Paul is coming round today, the day after he processed the loan, with the money in cash for me, all I have to do is show him some ID, birth certificates etc etc, and I have my money, and the repayments will start next week as far as I am aware, though I am going to ask him if I can pay monthly as thats how we're paid! I definitely recommend a Provident loan if you have been refused elsewhere, they're not loan sharks, they're there to stop you going to loan sharks! They're a safe way to get fast money, that is easy to repay as they take into account your earnings and what you would be able to afford. My mum and my sister have both had accounts with them, and have never had issues with them if they haven't been able to make a payment for whatever reason. Also, another thing to add, is that after 13 weeks of paying your loan off weekly, you then get offered another loan, if you want to take it you can, if you don't want another loan, that's entirely up to you of course, but the more you have paid off your loan, the higher the second loan will be. By the time my 13th week comes around, it will be coming up to Christmas, so I will be likely to take it after around 20 weeks. As long as you pay the minimum amount each week, your agent will look after you, he/she will make sure you're getting the best deal. If you do have issues paying one week, then don't be afraid to tell them that, if you want to pay monthly not weekly, tell them that too. Unlike many loan places, they're not scary, they don't patronise you, the guy I have as an agent came to my door wearing normal clothes (not a suit in site!) with a big smile on his face, he was very friendly and helpful, and we chit chatted as well as sorting out the loan business! If I can be accepted, then most people can be accepted. If I do have any problems with them I will edit this review to tell you, but as of now, they have been more than helpful, kind and polite. And thanks to them, we have a small cash loan to buy a car with which we wouldn't otherwise have had! :)

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                26.05.2009 21:31
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                A decent service, if your not moving house. Vouchers are particularly good.

                Ive been a Provident customer for around 3 Years now. Had both of their offerings, cash and voucher. They do offer a Credit Card also, but Ive never tried for it. So, the Vouchers. Spendable at some of the biggest names on the street. HMV, Farmfoods, Argos, Comet... many, many places, and a full list available from their website. Sadly, no places that sell beer. Hehe. The repayment on the vouchers are a lot cheaper than the cash. For £50 of vouchers, over 25 weeks. You pay 50% of the amount you got from them as interest. So, if you took £50 Vouchers, youd pay £75 (50% of £50 = £25) and if you took £100, youd pay £150, and so on. The 25 Week repayment option is the only one, which I have found out to my perril. The cash is a little more complex. There are more Payment options, particularly 23 and 31 on the website. Im sure the Agent you speak to to get the loan will have more details, and a possible longer repayment option. Repayments are cheap. Around the £4 a week mark for low amounts of loans. Higher ones are obviously more expensive, but a calculator is on their website. They will arrange a time and day to come around weekly or fortnightly, to collect. The Agents are people from all walks of life. In fact, chances are, there is an Agent living around your area, maybe even your street. The problem here, being that the Agents can either be very friendly, very trustworthy and very reliable, to unfriendly, lazy and not bothered. Personal experience has taught me that Provident take their loans very seriously, as a company. Recently, I received a debt letter from a collections company working on behalf of Provident about a loan outstanding from around 12 Months+ ago. Due to a change of my address, this has become a problem. After giving the new address, Provident decided to not come and continue to collect the repayments. They instead went 4 miles away to a different address, even though the address I gave them was correct. Not having a Phoneline, or having any way to contact these people other than e-mail was frustrating, because the email recipients dont respond. Im currently unsure what happens from now. Whether I pay the debt collections back or what, but this recent experience has shown me how lazy Provident and its agents can turn out to be. Up until this experience, Provident had always been very good. A change in management, and a change in agents and address has changed my whole perception on the company.

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                  04.03.2009 17:44
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                  Avoid at all costs!

                  Provident Personal Credit is a company that offers people small, unsecured loans from as little as £50 up to £500. After you have received the loan, they issue you with a payment card and you pay it back on a weekly basis, where by you have a collector come to your home. Generally people with bad credit, unemployed and low income families use this company, basically people who can not get credit else where. You can choose to take vouchers instead of money, and you can use the vouchers in many well known high street stores, if you accept the vouchers then you pay slightly less interest. It may all seem above board, although the interest rates are astonishingly high. Currently their interest rates are at a typical rate of 189.2 %. Which is way above many other lenders. I think really and truly you'd have to be desperate to use this company. I have my own personal experience with this credit company and ultimately it made my financial situation so much worse, I think if you dont understand about interest rates, which I know theres some people who dont, as I was one of them! then you should leave them well alone, or at least seek advice first. On the other hand if you dont mind paying back around £500 for a £300 loan, and you cant get credit else where then perhaps it would have its use. In my opinion I would rather go without...

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                    06.11.2008 18:43
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                    a quick way of getting cash or vouchers you need

                    we have used provident a few times in the past years. they are great for emergancies as they provide the cash really quickly. we have requested a loan and then have had it delivered a few hours later. the interest is high but that is to be expected with this type of loan. for example, if you get a loan for £300 then with 56 weekly payments of £9, the total amount you would pay back is £504 but if you pay more money each week than you have to, the interest amount goes down. provident provide cash loans and vouchers. we have used both. the vouchers have a lower interest rate and again, are usually delivered really quickly. they can be used in a wide range of shops including toys r us, woolworths, top shop, farm foods and many many more. a full list is available on the provident site. once you have chosen your loan amount, you will need to call the provident number which at the moment is 0800 409 6654. you will then be subject to a credit check and as long as you pass that, you will be contacted by your representative who will live in your area. they will then bring the cash or vouchers of your choice to your home at a time that suits you. your representative will come around every week for your payments and this will be recorded in your provident book. this shows all payments made and is important for you and provident to keep track. if you pay each week then you build up a credit history with them and will have no problems getting another loan in the future. provident are great for planned loans or emergancy loans because it is quick and easy. i also like the idea that the payments are only over 56 weeks which means you dont have a loan dragging over years.

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                      31.10.2008 20:37

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                      *i think provident has been fantastic :O)also you can avoid lot of the cost of the really high apr by simply paying over your minimum payment.ive had two loans & about to have my third.for e.g i took 1000 i overpayed the 30.00 week minimum payment & now im nearly paid off 2 months instead of a year avoiding nearly 500 pounds of interest.Since i had my son 4 4yrs what with minimum wage & bills.never be able to afford or get loan elsewhere for an operation i need.but theyve helped me so much***id recommend them :O) esp in dorset area ~++:O) i couldnt of learn to drive without my loan from provident.or boughtmy son new bed etc.Long as u budget your payment its good!

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                      12.10.2008 15:44
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                      Make sure you look at your finances before getting yourself into more debt.

                      Provident Personal Credit is part of Provident Financial PLC, which also operates Greenwood Personal Credit and Vanquis. Now if you're familiar with any of these companies, the alarm bells have probably already started ringing. Provident specializes in Home Collected Credit and has an estimated 60% of the HCC market. According to their website, Provident Personal Credit "specialises in straightforward personal credit that puts you in control. We offer small personal cash loans that can be arranged in minutes and delivered to your door in days." So far, so good. But once you've assessed the interest rates, you'll see that Provident loans are a last resort for people who struggle to get credit elsewhere. The example given on the homepage is for a £300 loan, repaid over 56 weeks at £9 a week. This means you'll end up paying back £504 which equates to a whopping 183.2% APR. Despite these phenomenal interest rates, I still found myself in a position with little choice but to take out a loan through Provident. I won't go into great detail but my now ex was an alcoholic and a womanizer who decided to give up work and leave me to pay all the bills. I struggled by as best I could, ultimately getting behind on payments and ending up under a mountain of debt which I'm still struggling to pay now. When I found I didn't have enough to cover the monthly rent, I had little option but to turn to a company like Provident. Provident does not require you to carry out credit checks in order to take out a loan. Instead, the agent who visits to sign you up will go through a simple income and expenditure with you to work out how much you can afford to pay each week, and therefore how much you can borrow. As long as you're honest, this should mean your weekly repayments are within your budget and affordable. It's also because of this added risk to Provident that you can expect to pay a lot more interest than you would at a high street bank. But let's face it, if you had an impeccable credit history, you wouldn't be borrowing from Provident in the first place. I first signed up via Rpoints as although I might have been desperate enough to take out a loan with a ludicrous APR, I wasn't stupid enough to miss out on the opportunity to earn some cashback. After filling my details on the website, I had a knock on my door a couple of days later and met the lovely Elaine. She came in and together we sat at my dining room table and filled out the paperwork. Within a few minutes, I was handed a wad of cash and we arranged an evening each week when she would visit to collect payments. In Provident's defence, although they target their loans at the poorest and most desperate people, the payment terms and interest is clearly explained and there are no hidden catches. Also, Elaine was very friendly and polite and I did enjoy our little chats each Friday evening. She always told me how I was her best customer as it would seem I was one of the few who actually paid her what I owed each week and she was very understanding if I sent her a text to say I was stuck in work and wouldn't be at home for that week's collection. When I made my first payment, I was given a payment book which was signed off each week to show my balance gradually decreasing. I chose to pay £10 a week as the extra £1 was negligible but it gave me the psychological encouragement I needed to pay my loan in less than 56 weeks. I eventually took out two loans from provident and have recently paid them both off. Although the interest rates were high, the money got me out of dire straits when I most needed some extra cash. It wasn't spent on anything frivolous, simply household bills and groceries. I have since found a fantastic way of saving money by moving into my own flat and finally getting rid of the ex. Now I've cleared my Provident loans and I'm slowly working through the debts I've amounted over the years. I actually miss seeing Elaine each week and my Provident loans did help to teach me the value of budgeting and only living off what I can afford. I'm not saying everyone should rush out and get a Provident loan, but if you're struggling financially and have no other resort, then it's a far safer option than going to a loan shark and now home collection loans appear on your credit file, it may go a little way to helping repair your credit rating.

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