Your Loan FAQs Answered

We receive lots of questions from customers, on a wide range of topics, from Doorstep and Guarantor Loans, to Car Finance and Catalogue Claims. To help more customers by empowering them with information, we wanted to feature our top Frequently Asked Questions from this month. This months FAQ feature answers to your Provident, Morses Club and Irresponsible Lending Questions.

Is Morses Club part of Provident?

No, Morses Club is not part of Provident, but a different Doorstep Lender. Provident owns sub brands Greenwoods Loans, offering doorstep cash loans of £100 to £1,000, in addition to Glo and Satsuma. Morses Club own sub brandsDot Dot Loans, offering long and short term loans to customers and U Account, an online current account provider.

Provident are Looking to Introduce a Scheme of Arrangement

Can I get a refund from Provident?

Provident is looking to introduce a Scheme of Arrangement to manage the amount it pays to customers in compensation.

If you have already made a claim to Provident for a mis-sold loan, or are a current Provident customer, they will be getting in touch with you via email or letter about this scheme. A copy of this letter, can be found on the Provident website here.

If you have not yet made a claim to Provident for a mis-sold loan, you still can, however, Provident will not be working on any new claims, until they know the outcome of the scheme. If the scheme is approved, you will have to resubmit a claim under this scheme.

For more information about Provident’s Scheme of Arrangement, please visit this page.

Can I claim for Irresponsible Lending?

Yes, If your lender did not make the necessary checks before they gave you the loan, this could be irresponsible lending. It is a lenders responsibly to ensure that people can afford the loan, and not struggle to make the loan payments. If you have found yourself in this situation, this is where we can help. Start your Claim Today!

Start your Claim against Irresponsible Lending Today!

Can I claim back interest on a loan?

Yes, you can claim back the interest paid on a loan, if it is found that the lender of the loan has given the borrower the loan irresponsibly. This is known as a loan claim or loan refund.

Everyone who has taken out a Payday Loan, Guarantor Loan or Doorstep Loan, and/or a financial product can reclaim the interest paid on the loan, if it was lent irresponsibly and/or it was found to be unaffordable.

Do Morses Club do credit checks?

Morses Club carry out both credit and affordability checks on every applicant, as should all lenders of any type of loan or financial product.

If your lender did not make the necessary checks before they gave you the loan, this could be irresponsible lending. It is a lenders responsibly to ensure that people can afford the loan, and not struggle to make the loan payments. If you have found yourself in this situation, this is where we can help.

Is Shopacheck part of Provident?

No, Shopacheck is not part of Provident, but Morses Club. On the 1st March 2015, Morses Club merged with Shopacheck Financial Services Ltd to become one of the largest home collected credit providers in the UK. Morses Club has now

Is Provident going bust?

The simple answer is not yet, but it’s possible. Provident Financial wants to introduce a scheme to limit compensation paid to customers who were mis-sold loans, in a move similar to guarantor lender, Amigo Loans.

Provident are looking to introduce a “scheme of arrangement” to deal with a flood of complaints from customers who have been mis-sold loans. The scheme would reduce the amount it would have to pay to customers to settle their complaints.

For the 4.3 million current or former customers, who could potentially make a refund claim, Provident will be contacting them via email or letter, explaining the scheme and outlining the key dates.

Customers are able to vote on the scheme in July 2021. The court will then consider whether to approve the scheme or not.

If the scheme is approved, it would ensure that all customer complaints would receive something, however, the £50 million pot of the company’s money, put aside for the scheme, would not be enough to satisfty all claims in full.

If the scheme is not approved, it is likely that Provident (and sub brands Glo, Satsuma and Greenwood) would be placed into administration or liquidation.

Provident is looking to introduce a Scheme of Arrangement

Is Provident paying compensation?

Provident is looking to introduce a Scheme of Arrangement to manage the amount it pays to customers in compensation.

If you have already made a claim to Provident for a mis-sold loan, or are a current Provident customer, they will be getting in touch with you via email or letter about this scheme. A copy of this letter, can be found on the Provident website here.

If you have not yet made a claim to Provident for a mis-sold loan, you still can, however, Provident will not be working on any new claims, until they know the outcome of the scheme. If the scheme is approved, you will have to resubmit a claim under this scheme. For more information about Provident’s Scheme of Arrangement, please visit this page.

What happens if I don’t pay Provident?

If you have taken out a loan with Provident, and are struggling to afford the repayments you need to get in touch with them or your agent to discuss your situation.

However, if you feel that you cannot afford the loan due to irresponsible lending and they did not make the necessary checks before they gave you the loan, then you could claim against the loan. It is a lenders responsibly to ensure that people can afford the loan, and not struggle to make the loan payments. If you have found yourself in this situation, this is where we can help. Claim today!

Can you claim back late payment fees?

Yes, you can claim back late payment fees if your provider has charged an excessive amount for penalty fees for missed payments or going over your credit limit. You can reclaim fees higher than £12 from the past six years in England and Wales or the past five years in Scotland. Submit your claim today!

Have you experienced Irresponsible Lending?

What is classed as irresponsible lending?

Many people have experienced Irresponsible Lending but do not realise it. It is sometimes not clear that Irresponsible Lending has occurred. We have seen so many situations of Irresponsible lending that we have put together a list of the most common examples of this situation, to help people discover whether they have experienced this circumstance. Do any of these statements sound familiar?

  • Unclear Fees?
    When you took out the loan, where the charges and associated fees completely clear to you? You should know what fees will be charged before you take out the loan.
  • Unpayable?
    Were your monthly payments for the loan so large that you were unable to pay for your essential bills, for example like your mortgage, food bills? No loan should leave you unable to pay your essential bills.
  • Supported Borrowing?
    Did your lender encourage you to take out additional loans, even though it was clear that you could not afford to pay the first loan back? A lender should not encourage you to borrow more if you cannot afford it.
  • Rolling Over Loans?
    Did you have to take out another loan just so you could pay the initial one back? Your lender should have checked that you could afford the first loan and the monthly payments.
  • Automatic Payments?
    Did you lender take automatic payments from your account, causing financial difficulties and leaving you unable to pay for essential items? Your lender should be clear about when payments will be taken and how.
  • Bigger Borrowing?
    Did your lender entice you to borrow more than you planned for with an offer that was bespoke you? Your lender should have looked at your financial situation and lent what you were requesting and what you could afford.
  • Correct information?
    When you took out the loan, did you provide the correct information of your financial situation including other debts. Your lender should have checked that the loan

If you have found yourself in this situation, this is where we can help.

Our mission is to highlight the irresponsibility and injustice of some services, in particular mis-sold loans and mortgages, and give people the chance to correct this unfairness. We are not a claims management company but we work closely with our partners, who are CMCs, to help our customers receive loan refunds for a variety of mis-sold loans including Guarantor Loans, Payday Loans (short term) and Doorstep Loans, in addition to other services such as PPI and PCP Refunds, Marriage Tax Allowance and Mis-sold Mortgages.


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