Claim direct to Provident for FREE or use a UK Claims Management Company.
Submit your application details securely and a CMC expert will be in touch by email.
Start your compensation claim against Provident today. You will be charged after the refund is Paid!
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. Have you heard? You maybe able to a Provident Refund. Have you ever had a loan from Provident? If the answer is Yes, You may be able to claim a refund from Provident Home Loans.
You do not need to use a claims management company to achieve a successful refund, you can contact Provident directly, the contact information is below which should help you. If necessary after 8 weeks you can contact the FOS and make a formal complaint about Provident Home Loans and its unaffordable lending compensation . We have seen plenty of refund success in 2020 and 2021 looks set to be even better
It’s has been documented in the news where instances confirm Provident have been lending irresponsibly. Which means provident customers may be able to claim compensation directly with Provident or via a Claims Management Company. If you claim directly to the lender yourself, you will not be charged anything as you are doing the work, however, if you require the service of a professional claims management company, please be advised you are likely to pay around 30% of your refund in fee’s once the refund is claimed successfully.
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 and the lenders who offer Guarantor loans, doorstep loans have come into the spotlight recently, with the Financial Conduct Authority keeping a very close on on companies like Provident, The BBC documented that the doorstep loan provider, has to pay “almost £169m in compensation to customers’ after mis-selling a particular loan product to customers whilst paying a fine of £2million to the FCA.
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 a controversial report of Provident offering “lending bonuses” to its 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 Provident refund claim– and the Reclaim Experts can help you receive what you are owed.
Since the announcement from Provident of a proposed Scheme of Arrangement (SOA) on the 15 March 2021, we have had numerous emails and DM’s on our social media channels asking what it will mean to you, the Provident customer.
Provident have proposed an eye-watering £50 million to repay customers refunds, this letter explains the SOA provident plain to agree with it customers.
Doorstep lender Provident Financial has increased it’s efforts to keep it’s proposed “Scheme of Arrangement” by appointing a “customer advocate”, to help borrowers understand it’s proposal. The inclusion of a “customer advocate” for Providents SOA, follows the Amigo ruling, in which their SOA was refused by the high court.
An “advocate” by definition is “a person who represents another person’s interest“. In this case, Provident’s “customer advocate” is charged with helping borrowers to understand it’s Scheme of Arrangement, including the implications and negatives of the scheme, as well as answering any questions from borrowers.
Provident have also reported that it’s “scheme of arrangement will entail higher-than-expected costs” but this will be paid by the Provident Financial Group, rather than be taken from the £50 million put aside for the Scheme of Arrangment.
The FCA (Financial Conduct Authority) have reported “significant concerns” about Provident proposed Scheme of Arrangement. The Times have reported that the FCA have concerns about “the method of assessing claims and about the reduced payouts”.
Provident’s compensation Scheme of Arrangement is due to be voted upon by its customers in July. For the scheme to be granted, over ¾ of customers have to approve the scheme before any compensation from provident can be agreed. We will update our clients directly when more information becomes avalible.
As we find out more we will share our findings and update the information on a dedicated page which will offer you an overview as things progress: Provident Scheme of Arrangement (SOA)
What type of loans do Provident offer?
– Cash Loans
– Door Step Loans
Minimum age of 18 and have a contact telephone number. The 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
If any of the above statements apply to your experience with the Provident and Doorstep Loans, you could be eligible to claim compensation from Provident.
Complete the Provident Loan Refund Claim Form today!
Start your claim or get in touch with the experienced team at one of our partner CMC’s who will guide you through the process.
You could be eligible to claim compensation. Start your refund claim online and begin the process to reclaim a refund from Provident.
If you are a Provident customer, you could be eligible to claim a refund.
Please wait while we find the perfect match for your claim.
Don't worry, you're in good hands - We partner with many professional specialists who are ready to help.
We will automatically redirect you in 5 seconds.
If you are not automatically redirected, please click the button below: