Provident Home Credit Refund Claims

Provident Customer refund claims, you may be able to get a refund on the interest you paid to Provident Doorstep loans.
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Founded in 1880, Provident Financial is one of the oldest companies of short term and doorstep loans. They provide personal loans of £100-£1,000, over terms of 13-52 weeks, for consumers, with the cash being delivered to your door and repayments collected weekly, also from your home.

Doorstep Loans, also known as home credit loans, are used by 1.3 million people in Britain and it’s the practice where a collector comes to your house to collect the repayments, rather than paying them through a bank or standard repayment scheme.

Like Amigo Guarantor loans, doorstep loans have come into the spotlight recently, with the Financial Conduct Authority instructing Provident, also a doorstep loan provider, to pay “almost £169m in compensation to customers’ after mis-selling a particular loan product to customers.

Other complaints about doorstep loans include people being sold a home credit loan by an agent, when they could not afford it. In 2019, there was also controversial report of Provident offering “lending bonuses” to it’s doorstep lending staff, with concerns of having “bonus payments linked to loans issued to subprime borrowers”.

If you found yourself unable to pay back the loan you took with Provident, you may be eligible for a loan refund- and the Reclaim Experts can help you receive what you are owed.

What type of loans do Provident offer?
– Cash Loans
– Door Step Loans

Eligibility Requirements:
Minimum age of 18 and have a contact telephone number.
Borrower must also agree to home visits and affordability assessment.

Loan Example:
Loan amount: £260
Loan term: 26 weeks (with weekly repayments)
Interest rate: 112% p.a.
Representative APR: 535.3%
Total cost: £405.60

Provident is registered at the following address:
Provident Personal Credit Limited.  Registered Office: No. 1 Godwin Street,
Bradford, West Yorkshire, BD1 2SU

Why could I receive a Provident Refund?

  • Was the loan affordable to you before Provident granted your application for a loan?
    Provident may have not conducted the correct affordability checks.
  • Did your loan have excessive charges combined onto it, such as high interest and charges?
    The FCA have introduced a price cap to protect borrowers from excessive charges.
  • Did you tell your lender that the loan was unaffordable but they continued anyway?
    The lender should have released that the loan was unaffordable and not given it to you. This is irresponsible lending.
  • During your application process, you may have not mentioned all of your debts.
    If this didn’t match with your credit record, Provident should have ensured to double check this.
  • When you applied for the loan, you may have not stated your correct regular income, due to be self-employed or your job history changing during this time, Provident should have looked at this and ensured you had a regular, consistent income before giving you a loan

If any of the above statements apply to your experience with the Provident and Doorstep Loans, you could be eligible to claim compensation. Start your claim or get in touch with the experienced team who will guide you through the process.
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