Contents
Quick overview
Provident’s Scheme of Arrangement is now in operation and customers can now make a claim for a refund.
The Scheme started officially on 5 August 2021 after it was approved in court.
The Scheme was proposed because Provident could not afford to carry on paying full refunds to customers winning affordability complaints. The Financial Ombudsman was upholding 75% of complaints against Provident.
The FCA, Provident’s regulator, said it did not approve of the Scheme. But as Provident has stopped providing doorstep loans, the FCA did not object to the Scheme in court.
4 million previous Provident, Satsuma, Greenwoods and Glo customers can now make a claim to the Provident Scheme. These claims have to be made before the end of February 2022.
You may have paid your loans on time but they may still have been “unaffordable” if you had to borrow more money or refinance your loan.
Only £50million is available in the Scheme, so you won’t get a full refund. But you may still get hundreds of pounds and your credit record cleaned.
Which loans are covered by the Scheme?
More than 4 million people were given a loan by Provident that comes under the Scheme.
These loans were given between 6 April 2007 and 17 December 2020.
The loans came from four different brands:
- Provident – often called “doorstep loans” or “home credit”;
- Satsuma payday loans;
- Greenwood – another doorstep loan brand that hasn’t been used since 2014;
- Glo – a very small guarantor loan brand.
In this article, I talk about “Provident loans” for short – but it also applies to loans from the other brands.
Provident also owns the Vanquis and Moneybarn brands – these are NOT included in the Scheme. If you have an affordability complaint about them, you can still make a normal affordability complaint and get a full refund.
If your loans were “unaffordable” send a claim to the Scheme
The definition of “unaffordable”
A loan is only “affordable” if you could repay it on time and still be able to pay your other debts, bills and living expenses.
You may have paid the loan on time, but it may still have been unaffordable.
If paying Provident left you so short of money you had to borrow more or you got behind with bills then it was “unaffordable”.
If you had several loans without a break between them, then Provident should have realised you were trapped in a cycle of borrowing and that these expensive loans were not affordable. Even a single loan can be unaffordable if it is large.
How to send claim to the Scheme
If you voted on the Scheme, that will have submitted a claim and you don’t need to do anything.
If you didn’t vote, you can now make a claim. There is only a 6 month window to make any claims it ends at the end of February 20200. It’s best not to leave it until the end in case you have problems submitting a claim!
To make a claim, you first have to set up an account in the Scheme Portal.
This needs your Scheme ID number – that is on emails and letters you may have been sent. Your name has to be spelled exactly the way Provident has on their records for you, shown on the emails or letters. If you have got married, or changed your name, or they have the wrong spelling, enter it the way their records show.
For most people this will be very simple. But if weren’t sent a letter or email, or can’t find them, phone Provident on 0800 056 8936.
Also phone that number of you do know your Scheme ID but the page won’t accept it.
Once you have an account set up, you log in and submit the claim.
Did you have two accounts?
If you think you may have 2 accounts with Provident – perhaps you moved, or changed your email, or some other reason – tell Provident about this by emailing soa@provident.co.uk. If you don’t get a helpful reply in a couple of weeks, phone them up and ask.
This is very important. You want a claim submitted for both accounts. And you want both your accounts to be looked at as a single account, not 2 separate ones, as this may mean you get a larger refund.
You may be asked for “evidence”
You don’t need details of your loans to make a claim.
Provident is asking people to supply details of any CCJs or defaults. If these were in the last 6 years, they will show on your current credit reports. See How to get free credit reports for details – the statutory credit reports are often the easiest reports to download so you can send them to Provident.
If they were older than that, you may have something else which shows them – old letters, emails?
But don’t worry if you don’t have these. Provident will still consider your claim without them. If you only had a few loans, extra evidence can be useful. But if you kept taking new loans, that by itself suggests they were not affordable.
Do you have to make a claim if you have already sent in a complaint?
There are a lot of different situations here. It depends on when you made the complaint and what happened to it.
Provident has produced a flowchart that looks at the different cases. Some complaints will be automatically registered with the Scheme and some you have to submit a claim form. If you sent in a complaint after 15 March 2021 you definitely have to submit a claim to the Scheme.
I suggest that it is better to be safe than sorry here. Register an account with the portal and try to submit a claim.
Not sure if you can claim?
If you had one of these loans you can make a claim. It doesn’t matter if you paid the loan on time, if you still have a loan, if you defaulted, or if the loan was sold to a debt collector.
You can still make a new claim if you had complained before. Provident rejected too many complaints and only made low offers on others. You can complain again if your claim was rejected or you accepted a low refund or your case was at FOS.
Provident has set up a page with FAQs about the Scheme. That may answer some questions. If you have others, you can ask them in the comments at the bottom of this page.
How refunds are calculated
Is your complaint upheld?
The first stage in getting a refund is for Provident to decide whether to uphold your complaint. The steps in doing this are
- Provident will decide which loans are “unaffordable”. They will use the details of your loans and other information they have in their records, plus any evidence you have sent in. The more loans you had, the more likely it is that some loans will be unaffordable.
Often Provident will decide that the later loans were unaffordable as they should not have continued to lend to you. So if you had 7 loans, a decision may be that loans 4-7 were unaffordable.
If the first loans were very large, or you had recent CCJs, all the loans may be decided to be unaffordable. - Provident will calculate the interest paid on the unaffordable loans. The interest you paid is the difference between what you borrowed and what you paid, so if you paid £420 on a £250 loan, that is £170 in interest.
- Provident will add 8% simple interest to the total interest on the unaffordable loans to give the total redress. This is 8% per year since the interest was paid. So if your loans were in 2011, you will have about 10 years of 8% interest added. If your loans were in 2019, you will only have 2 years of 8% interest added.
- You will be told which loans were unaffordable and what the total redress is. If you think more loans were unaffordable, you can appeal this.
The appeal will go to an independent expert appointed in the Scheme, not the Financial Ombudsman. In other Schemes and Administrations, people have won appeals.
Keep an eye on your claim
When you have made a claim, you may not hear anything for months.
But it is a good idea to check back every month or so though. They may have sent you an email that you missed. You need to know so you can decide if you want to appeal.
You can log into the portal. Or look at the comments on this page and see if other people have heard anything.
How much will you be paid?
The next stage is for Provident to divide up the £50 million in the Scheme between the people who have had their complaints upheld.
You will be paid a percentage of your total redress number, not all of it.
Provident thinks people may get paid 5-10% of the calculated amount. But this will depend on how many people claim and how many loans are refunded.
This percentage calculation will be made after all complaints and appeals have been decided. It will probably be mid 2022 when you will be told how what you will get and the money will be paid.
Credit records will be cleaned
For upheld loans, any defaults or missed payments will be removed from your credit record.
In other schemes and Administrations, some people say getting rid of a default was the most important result for them. Not the cash refund!
Refunds for current loans
If you still owe a balance, if that loan is decided to be unaffordable the interest will be removed, so you only repay what you borrowed.
- Say you borrowed £1000, have repaid £600 and still owe a balance of £1200. If this loan is unaffordable, the interest will be removed so your balance will drop to £400.
- When you have already paid more than the amount you borrowed, the balance will be wiped and you will get a percentage of the interest you paid back.
If your loan was sold to a debt collector, Provident will try to buy back the loan and settle it within the Scheme. In the recent Money Shop Scheme, this was possible in most cases – there was only one difficult debt collector and I don’t think Provident used them.
UPDATE – Provident is stopping accepting loan repayments
In December Provident announced that it is no longer collecting any payments for existing loans. If you are a Provident or Satsuma customer, you should be told about this by email or letter.
Your credit record is being changed to show that the loan is partially settled or partially satisfied.
If you win a claim to the Provident Scheme, all negative marks for the unaffordable loans will be removed from your credit record. For many people this may be worth more than getting a bit of money back – so send in a claim as soon as possible if you haven’t done this already!
Provident claims – key points to remember
- Provident didn’t make good affordability checks so a lot of people should get refunds.
- The more loans, the larger they were or the worse your situation, the better your chance of getting a refund.
- You will only get a percentage of the “proper” refund, but this may still be hundreds of pounds. And your credit record will be cleaned.
- You can claim if you no longer have a loan, if Provident has cleared your loan balance or if the loan was sold to a debt collector.
- The deadline for making claims is the end of February 2022. Do it now so there is no chance of missing the deadline!
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MP says
Quick question.
If you had different accounts with Provident, for example, one with Sunny one with Provident do you have to make a claim for each one or does one claim cover all?
Thanks
Sara (Debt Camel) says
Sunny wasn’t a Provident brand – did you mean Satsuma?
MP says
Sorry, yes meant Satsuma
Sara (Debt Camel) says
One claim should cover them all. But if you think Provident may have had different email addresses or home addresses for the different lending then you need to make sure that both accounts are treated as a single one for this assessment. Were you sent info about the Scheme with two different scheme numbers on it?
kirsty jane says
Hi i havent received an email to say i can apply but have received an email to say debts being wiped as of the 31st? Does this mean im eligble to apply?
Sara (Debt Camel) says
Anyone who has borrowed from Provident or Satsuma can apply to the Scheme.
How many loans did you have from them? were they large?
The article above tells you to phone provident if you do not know your Scheme Id number as you need that to make a claim.
kirsty jane says
I managed to find scheme id and apply, thank you. I think ive had 3 one was at an old adress tho so do I need to do this one seperate? largest one was £800
Jason gore says
My debt got pass on to cap quest recovery do I need to pay
Sara (Debt Camel) says
did Capquest buy the debt? Or were they collecting on behalf of provident?
Have you made a claim to the Provident Scheme?
Jason Gore says
Not sure thing it got pass on
Sara (Debt Camel) says
Ask Capquest then
Hevs1969 says
Sara, are you aware that Provident have sent out letters (received today), stating that as of 31 Dec 2021 it is folding, and these letters state that have outstanding balances have been wiped out? I have one such letter right here! Good job I ceased making payments at the same time I lodged a claim, otherwise that would’ve been 100% monthly payments made to only received a fraction back if the claim was/is successful.
julie says
Hi All,
Just received this in my inbox
Hi Julie,
Important update about your loan
We’ve some important information about your loan(s). If you’ve an outstanding balance, we’ll be clearing it and there are no more payments to make. This is because we’ve made the decision to close Provident Personal Credit, whcih includes Satsuma, on 31st December 2021.
julie says
Over the years, we’ve been proud to help people who needed a loan, but the tough economic situation resulted in Satsuma stopping lending last year and now we’re closing altogether.
There is nothing you need to do, other than not make any more payments. If your payments are taken by Continuous Payment Authority (CPA), we’ve stopped these for you. If you pay another way, you can now stop making payments. Any payments made after 31st December 2021 will be refunded to you.
As you’re in arrears or didn’t pay your loan within the time we agreed when you got your loan, we’ll update your file with our Credit Reference Agency to show the balance as zero and partially settled.
julie says
Provident SPV Limited Scheme of Arrangement
If you make a valid claim in the Provident SPV Limited Scheme of Arrangement (the Scheme), the amount of your claim will be reduced by your outstanding debt.
If your outstanding balance is less than the amount of your valid Scheme claim, you’ll receive a payment on the difference between the two amounts. If your outstanding balance is more than your valid Scheme claim, you won’t receive a Scheme payment but the remainder of your outstanding balance will be cancelled.
There are more details on this and examples at the bottom of this email.
Sarah Louise Tansley says
Morning.
I just received an email from satsuma saying that my outstanding loan will be completely wiped and to make no more payments. Result!
Adreva says
Same email , really pleased apart from the fact Satsuma have now registered a default in Sept 2021, Four years after I last made a payment.
Phoned today and said to wait for 6-8 weeks for the credit record to update. Useless customer service it’s not the status that worries me it’s the new default that will last until 2027.
Sara (Debt Camel) says
Have you made a claim to the Scheme? If that is won, all negative information will be removed – which is better than having the default date changed to being older.
You may find it hard to get Provident to pay any attention to you saying the default date is wrong as they are concentrating on the Scheme. In a year or so you can probably get the whole record “suppressed” from your credit record, see https://debtcamel.co.uk/correct-credit-records-lender-administration/ but it is too soon to do this at the moment.
MP says
Providentpersonalcredit.com has also been updated to reflect the same message on their website.
Sarah Louise Tansley says
Sara, do you know why I can’t see or find the satsuma loan on my credit file? I was paying it off through StepChange along with a Santander credit card which is on my credit file.
Sara (Debt Camel) says
what credit report are you looking at?
Sarah Louise Tansley says
I’ve looked on the credit score one and Experian and it isn’t on either of them.
Sara (Debt Camel) says
Credit score is ClearScore? That reports on Equifax data.
Have a look at Credit Karma – that reports on TransUnion data which can be different from Experian abd Equifax data.
Sarah Louise Tansley says
Thanks for the info. I’ve just registered on credit Karma and you’re right, it’s on there. The status says delinquent. Do you know what that means?
Sara (Debt Camel) says
it means they say you have missed some payments or are in a payment arranagement but they didn’t add a default.
Have you made a claim to the Scheme? See the article above for how to do this. If you win a claim in the Scheme, then all defaults and missed payments etc are removed, so do this now!
Kayla says
Just seen satsuma and provident are stopping all payments if u still owe money on the 31st Dec and clearing balance to zero and updating credit files to zero and settled. Which is fantastic for some. Just wondering will this mean they will correct any defaults reported?
Sara (Debt Camel) says
No – but if people win a claim to the Scheme then the defaults and any missed payments for the unaffordable loans will be removed… so make a claim now if you haven’t already done this!
nats daley says
As usual thank you Sara I did’nt even know there was a scheme so good job I check your page :-)
I have a £20 payment outstanding with Satsuma I don’t bank on getting anything but just wanted to say A BIG THANK YOU for keeping us all in the loop.
Step says
Hi Sara,
I defaulted on a satsuma loan back in 2019 ans I think it was passed to moorcroft, I’ve received a letter to satsuma today stating that current loans cleared etc, but mine isn’t a current and Is still with moorcroft for collection. Would mine be wiped too or am I still expected to pay moorcroft? I have put in a claim on the system.
Im confused 😕
Thanks
Sara (Debt Camel) says
Moorcroft are collecting on behalf of Satsuma, Satsuma still owns the debt. If you check your TransUnion credit record you will see the loan is there under Satsuma/provident name.
This balance is being wiped and you don’t have to may Moorcroft anymore. If you phone Moorcroft they should confirm this – come back here if they don’t!
Val says
Hi
Genuine Letter received in post an email today Satsuma written off both my loans £210 and £1300 nothing to pay an credit file to bd updated
All I did was fill in on line portal
No evidence required
Waited the past year for portal to close but even before it has had this today
Well pleased
Says if there is money over after it’s paid off I’ll get a percentage
Pennies I expect
But such a releif to get this
So if u haven’t claimed in portal do it ! Cos it looks like they are wiping balanced before their portal even closed
Sara (Debt Camel) says
Everyone with a remaining balance is having it wiped, whether they have made a claim or not.
You may only get “pennies” if your claim is upheld now the balance has already been cleared but they will also clear the negative marks from your credit record, which will be good!
So anyone who hasn’t made a claim should do this right away. There is NO downside.
Stephanie says
Hi Sara
My provident loan was sold onto Lowell, will my debt be wiped like other people are saying or will it not be as it was sold to Lowell ? Payments are made to them monthly through my DMP with step change. Hope you can help.
Sara (Debt Camel) says
No it won’t be wiped by the recent announcement.
How many loans from Provident did you have? Have you made A claim to the Scheme?
Stephanie says
I had 2 loans with provident, ive put a claim in under the scheme. Think they will be accepted. It’s a shame it was sold on and not being wiped though.
Lorraine says
Hi
I was a provident customer for yrs
When and how long to get refunded plz
Sara (Debt Camel) says
have you made a claim to the Scheme?
Charlie says
I had an email yesterday from Satsuma saying any outstanding balances will now be cleared by the 31st December and you don’t need to make any more payments. They will put down on your credit score it’s at zero however will state it as partially settled because we haven’t cleared the loan in time. Which I don’t see as fair.
It goes on to say about this provident scheme claim which I am confused about. It says’
If you make a valid claim in the Scheme, the amount of your valid claim will be reduced by the relevant debt outstanding under your loan(s) which we’re clearing. This means that a dividend paid to you in the Scheme will be based on the amount of your valid claim left after that reduction, if any. If your outstanding debt does not eliminate your valid Scheme claim in full, you’ll receive a dividend on that part of your valid Scheme claim still remaining after the reduction. If your outstanding debt does eliminate your valid Scheme claim in full, you’ll receive no payment in the Scheme but the remainder of your outstanding debt will be cancelled.
It does say, please note: you don’t need to make anymore payments
There is more information on this in the email, but Its just too long to put it all in the comments. The question is, will my debts still be cleared and if I’ve made a claim before and what I receive is less that my balance will it still be cleared ?
Thank you
Sara (Debt Camel) says
Everyone who still owes Provident/Satsuma (it’s the same company, two different brands) money is getting this message. Your balance is being wiped. If they are taking payments by CPA, they will stop taking them. If you are paying them, you should stop.
If your claim is assessed as being less than the balance, the balance will remain cleared, you just won’t get any cash refund.
If your claim is assessed to be more than the amount they have cleared, then they take off the amount they have cleared and you will be paid a proportion of the remaining amount in cash.
There is NO downside to making a claim, you can’t lose.
And if you win, not only may you get some cash refund but any negative marks on your credit record will be removed.
I suggest you send in a claim this weekend if you haven’t already done this!
Nick says
Hi I had 2 satsuma accounts and am in a DMP with Step Change. I’ve had the emails from provident to say stop making payments. The amounts to be written off on 2 loans is £5 and approx £1700. I haven’t made any claims as I didn’t have too many loans with them. When I check credit file, the smaller loan just shows as open with a £5 balance, the other shows as delinquent and approx £1700. I don’t plan to make a claim as it will be less than the amounts still owed but wondering what will happen to the status of this £5 loan – I don’t want another default. Any suggestions please Sara.
Sara (Debt Camel) says
You can still have a claim upheld if there were only a couple of loans if the amounts were large. £1700 is definitely a large loan!
And they gave you a second loan before the previous one was paid off.
Satsuma defaults – they didn’t add them to many people’s accounts for no good reason – it looks like an error. some people are finding that a default is being added now when the payments were missed years ago.
Making a claim isn’t causing these defaults to be added – often someone only finds out about the Scheme when they have a default added and start hunting round the web to find out why.
I suggest you make a claim – if it is upheld the missed payment or arrangement to pay or default markers will all be removed.
Nick says
Thanks for the advice, I will follow up and claim
C says
Does this include loans that were passed to 3rd party collectors?
I know in the past after a successful claim they pulled the back with a different company but unsure how it works with this
Sara (Debt Camel) says
This applies where Provident/Satsuma were using a debt collector to collect a loan on their behalf – this was usually done by Moorcroft.
It does NOT apply to loans that have been sold to a debt collector – at the moment they are not being wiped.
But for those loans you can make a claim in the Scheme and those loans will be considered.
C says
Thanks for the response.
It was moorcroft I think. How would I know if it was just bejng collected by them or was actually sold to them?
Sara (Debt Camel) says
have a look at your Credit Karma report – under whose name is the loan? If it is still provident/satsuma, the loan has not been sold.
C says
I’ve checked and they both still day Provident, so I assume they will be cleared?
Sara (Debt Camel) says
yes they should. Have you had the email or letter from Provident? You can ask Moorcroft to confirm this.
C says
The letter I’ve got is from satsuma, and they still send a yearly payment statement thing which shows the payments that I pay to moorcroft.
L says
Hi just to add my experience, I stopped paying satsuma earlier this year when I lodged a claim so they transferred the loan to moorcroft. I contacted moorcroft by email to tell them I had raised a claim against satsuma for unaffordable lending and it was therefore in dispute and could they transfer it back to Satsuma,. They did this with no questions asked and sent me a letter to confirm they had sent it back.
Hope this helps .
Denise says
I hope that I am allowed to post this?
I just noticed it on my news feed.
https://www.thesun.co.uk/money/17093539/payday-loan-doorstep-lending-debts-written-off-satsuma-provident/
If it’s old news, apologies.
Seasons greetings to you all…
Sarah Greenwood says
Hi Sara
Can you confirm a few things for me not specific to Provident but to any of the payday lenders who have recently stopped trading. If someone has a debt with the original creditor in some cases the remaining balances are being wiped off and this occurs without making any claims for unaffordable lending at all but by making a claim the customer may get some compensation?
So what happens when the debt has been passed or sold onto a third party debt collection agency?
Does the balance still get wiped without the customer doing anything?
Does the customer need to make an affordability claim?
Does it depend on whether the debt has been sold or whether the debt collection agency is acting on behalf of the original creditor and how would the customer find this information out.
Sorry for all the questions
Sara (Debt Camel) says
Sorry but the answers are lender-specific.
Can you repost on the payday loan page https://debtcamel.co.uk/payday-loan-refunds/ and say who the lenders are and for each of them if your debts were sold or just being collected for the original lender.
Lauren says
Why are the Lowell debts not being wiped I have a repayment with Lowell sold to them by provident so I have to keep paying it then , are every other company being wiped except Lowell then
Sara (Debt Camel) says
Only the debts that Provident still owns are being wiped. Any sold to debt collectors such as Lowell are not.
Provident is wiping the debts it owns because they are now too much hassle to collect for the small amounts it is getting. It is a cost-cutting exercise that dramatically simplifies its operations that are winding down prior to closure.
Provident isn’t in control of the debts that were sold and they don’t require any effort from it. It can’t wipe them without it taking a lot of time and costing a lot, so it isn’t doing this.
It may feel unfair to you but this is being done for Provident’s benefit, not customers.
Have you put in a complaint to the Scheme? this will cover debts that were sold to Provident.
Paul says
Are people getting a redress under the SOA yet or will all of this be done after the end of
February? I put in my claim on the first day and have still not heard anything.
Sara (Debt Camel) says
I don’t think anyone has heard yet about whether their claim has been upheld… and that is only the first stage.
First people will be told what the decision on their claim is – which loans are upheld and which aren’t. Then they can appeal this decision. the first decision is probably just automated. So if you don’t think this is right – or you realise that you had more loans than are being accounted for – people should definitely appeal.
Only when everyone has been told and all the appeals are heard will there be a calculation of how much will be paid out.
Kate says
Hi Sara
In relation to the complaints and redress. Can customers do this if a DRO has cleared the debts already? They may have made some payments in the past but the DRO has effectively already cleared the balance – can they still submit a complaint? Also if a debt has been sold on is it still worth a complaint based on this debt no longer being enforceable as the debt no longer technically exists?
Thanks Kate
Kate
Sara (Debt Camel) says
From your address, you work in the advice sector so I will give a broader than usual response. This applies to all affordability complaints, not just the Provident Scheme.
1) if you complain to a lender where the last debt was cleared in a DRO then all the loans will be assessed for a refund. The refund will then be reduced by the amount that was written off in the DRO. So this is worth doing if the client had a lot of debts as the client may still get some cash back.
(You could argue that this set off against a debt cleared in a DRO should not happen as the debt no longer legally exists, and I would agree with you. But that is not the view the Ombudsman takes and this set off is standard practice, happening to thousands of PPI cases.)
2) if the DRO is still in progress you can complain, but if the redress may be over £2000 the DRO would be revoked.
3) all refunds for debts prior to bankruptcy go to the OR so these are not worth pursuing. In an IVA the refund will go to the IVA, and for completed IVAs the IVA firm will often (but not always) claim it.
4) if a debt has been sold on is it still worth a complaint based on this debt no longer being enforceable as the debt no longer technically exists? er good luck arguing that non-enforceability in court (unless there is a specific reason such as statute barring or inability to produce the CCA agreement). You can and should make complaints about debts that have been sold on. And if there is a CCJ from the debt collector, ask for the lender to arrange for it to be set aside.
Raerose says
Hi there, has anyone completed their claim and added the default evidence? I have tried to do this but it only allows me to enter a year, with no option to add text and write the companies name. Then I click ‘add default’ but there is no button to upload evidence/documents, so essentially all I can do is add a year and select add default.. this cant be right surely.
Raerose says
I may have answered my own question! In the end I added it to the section where it says medical history and just renamed it! All submitted now
Peter says
Hi. Me and my wife have got many loans from provident and Greenwood and satsuma. I think around 20 in total. That is since 2006 till 2020. Amounts were different but the largest I think was around £1000 or £1200 each and smallest £200 each. We moved houses a few times but I have submitted only 1 claim for each of us. Would this be enough. I have however sent an email today with all the previous addresses. Should I do anything else.
Sara (Debt Camel) says
did your email mention that you have had Greenwood, provident and Satsuma accounts?
Peter says
Hi. Thanks for the email.
No I haven’t yet. Only sent them my old addresses.
Sara (Debt Camel) says
then I suggest you send them another email explaining all your different accounts and address and asking for assurance that all the accounts will be considered together in your claim.
Irma says
Hi. Thanks again. I was just speaking with them. Been also advised that mu I’d scheme will cover all loans without need of supplying all other information.
Thank you
Nick says
Hi.
Does anybody know how long its going to take for the provident loans to be removed from your credit report.
Linda Fullbrook says
How do I make a claim there is no link to click on to download and forms?
Sara (Debt Camel) says
See the How to send claim to the Scheme section in the article above. this has to be done through their Scheme portal, so you have to start by setting up an account.
Stephen says
Total scam company scam scheme of arrangement, medical evidence bar is set so high no one can conform to it.
Sara (Debt Camel) says
would you like to explain some more?
Stephen Harrison says
I couldn’t pay and they sold the debt to Cabot Financial I am paying 15 a month and I still owe thousands. What can I do sick of these companies.
Sara (Debt Camel) says
make a claim to the Scheme as the article above says.
Apart from this debt, do you have other problem debts? Are you behind with any bills?
Stephen Harrison says
I wish Amigo would clear my balance.
As for Provident they sold the debt to Cabot Financial and I am still repaying it.
Sara (Debt Camel) says
So have you made a claim to Provident? What medical evidence do you want to supply?
What is the rest of your financial situation like – I can’t suggest anything else you can look at doing unless you say some more.
Jack says
Hi there,
Thanks for this information it is so helpful. i have submitted a claim via Provident as i had numerous loans (approximately 13) with Satsuma from 2016 -2019 and am awaiting feedback. These loans totalled to a few thousand over the years and were definitely unaffordable so hopefully i should receive some sort of refund payments. What i’m more concerned about is my Credit File. All payments were on time and never late, and all accounts were settled. Will it be difficult to remove these accounts from my credit file? And should i submit a separate email of complaint to Provident or CRA’s asking them to remove the information from my Credit file whilst my claim submission is being reviewed in the Portal or wait for that to be settled first?
Thanks
Jack
Sara (Debt Camel) says
They won’t remove anything until your claim has been resolved.
In a years time they will have given up talking to the credit reference agencies and at that point you will be able to get any remaining loans “suppressed” but it is too early to do this now.
J says
Ok thanks and noted, much appreciated
Lynne says
Just heard I’m getting £58.64 out of a possible £9K 😫
Annie says
Oh have the emails started to come through Lynne
Sara (Debt Camel) says
no, I think Lynne is reporting on a very small second payment from the Money Shop Scheme, nothing to do with Provident.
Lynne says
Yes sorry having checked again the email is from the money shop/instant cash loans. I think I provident is sunny/satsuma and there’s a few months to go yet?
Ro says
I’ve just been offered £6.20 from a £950 calculation!!!
Sara (Debt Camel) says
This for the Money Ship / ICL scheme – not Provident. It is the second much small payout from ICL. thsi is NOT an indication of the paypouts people may get from provident.
In March people who complained about QuickQuid are likely to get between 30% of 50% back – what happens with other lenders may be dreadful or great but it is no indication of what Provident borrowers may get.
Scott says
I’m getting pestered off vanquish bank fresh start over provident loans amount owing .
Should this not be wiped off now.
Sara (Debt Camel) says
you were given a loan by Vanquis to clear a debt owed to Provident? What interest rate was this loan? How long ago was it? And are the monthly payments affordable?
How many loans did you have from Provident before this one?
what is the rest of your finacial situation at the moment? Do you have other problem debts? Are you behind with any bills?
Scott says
No they must have sold/passed it to vanquis fresh start ..I had lots of provident loans from 5 years or more ago.
Looking at provident site it says payments should cease. Do I make the payments
Sara (Debt Camel) says
do you know when this happened? this is showing on your credit record as defaulted?
What are the rest of your finances like?
Stephen says
I am in the process of taking action against Vanquis, Provident and Amigo, they are all shady. Unfair lending and profiteering. I complained about the way that the provident agent was clothed but it fell on deaf ears, she flirted was overly friendly and suggestive whilst her cleavage almost in its entirety was on display. I am also not suing another well-known brand for a data breach. Never give up, they will never apologise or admit that they have done wrong. Our courts should never have allowed Provident or Amigo to arbitrate their own behaviour however the UK is now a rogue state.
Sara (Debt Camel) says
I suggest you talk to National Debtline on 0808 808 4000 about your options
Jack says
Is anyone else having trouble logging into the portal?
I enter my Scheme ID and password. It then takes me to a page asking me to change/update my password.
It then says my existing password does not meet the criteria for a new password change (lol).
So I can’t actually login in now.
Sara (Debt Camel) says
phone up and ask what is happening.
Tracy says
If provident cleared all your debt like they done to me will I still get compensation from the scheme or not
Sara (Debt Camel) says
It depends how big your refund is. If the refund should have been £1000 and they have wiped £400 of debt, they will reduce the refund to £600. It’s a fair way of doing this.