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WINCHESTER78
Junior Member
248 Posts |
 Posted - 27 May 2008 : 13:19:45
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I have 3 loans with Provident (high intrest door step lender) for small amounts - Do I :
*List each Loan indivally in the Statement of Affairs?
*Write an estimate of the loan amount owing as if I was make an early payment settlement today - As the only info shown in my repayment book is Where they add the intreast at the begining of the loan term then each week they take away the weekly payment.Eg £600 + £528credit charge =£1,128Starting point?
*Will I get in trouble with the OR because 2 of the loans were taken out in March, but before I thought about BR! |
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henrytc
Junior Member
United Kingdom
194 Posts |
Posted - 27 May 2008 : 13:41:10
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Hi I had loans with Provedent I just added them all up together and put them in as one due to the fact it was the same account number/same name I have had no problemsand this was in Dec 07 hope this helps.
*Write an estimate of the loan amount owing as if I was make an early payment settlement today - As the only info shown in my repayment book is Where they add the intreast at the begining of the loan term then each week they take away the weekly payment.Eg £600 + £528credit charge =£1,128Starting point?
*Will I get in trouble with the OR because 2 of the loans were taken out in March, but before I thought about BR![/font=Verdana]
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 27 May 2008 : 13:45:24
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Hi there
I would get a credit report and list them as they are listed on that - probably seperate loans, seperate amounts.
The report will give you a figure that Provident have logged as the debt.
At the end of the day the OR will contact each creditor and be advised of the details of each debt so give as much info as you can to helo them do that.
Vicki x |
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WINCHESTER78
Junior Member
248 Posts |
Posted - 27 May 2008 : 13:51:14
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provident dont report to Credit Reference Agenices.
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 27 May 2008 : 14:02:22
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It might still be worth checking whether they list the debt with credit ref agencies.
Not all companies do credit checks up front but report credit management to the credit ref agencies.
Other than that you could ring them for a figure for each loan.
The OR will look at when, why you started each debt particularly those near to you declaring yourself BR. Were they debt consolidation loans??
Vicki x |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 29 May 2008 : 09:59:24
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Hi Winchester78,
ALL unsecured borrowing needs to be individually listed in your SOA, with reasobnably accurate current balances. The OR appreciates with interest and penalty charges, the amounts quoted on the SOA are normally a bit less than the actual debt ends up, so don't be too worried. If in doubt, request the information directly from the lender.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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WINCHESTER78
Junior Member
248 Posts |
Posted - 30 May 2008 : 21:06:21
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spoke to my Provident collection lady on Wednesday to explain I was going BR she was okay with that.
Today she came around to collect from my Girlfriend.We chatted and she said that Provident gives info to the Credit Reference Agencys.I said that In the last 6 years never seen an entry on my report from them - then she back tracked and said they will be in the future!
My reply 'About Time'-if these companies didnt hand out cash as and when at such high rates alot of people on this site wouldnt be so bad off!
She Knew what I ws talking about but she did add , It wasnt the company that loses out through customers going BR ,they account for it, the Agents lose there commission!
Food For Thought |
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eamonn
Junior Member
320 Posts |
Posted - 31 May 2008 : 00:32:47
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| i have loans with providentand my collector has a new book which states early settlement figures he told he had to have it available to any customer who asks so you should be able to add settlement figures together |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 02 June 2008 : 09:58:40
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Hi all,
I recently received a letter from a doorstep lender who shall remain nameless. I almost fell off my chair when I opened the envelope and they were quoting 183.2% APR!!!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Topic |
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Provident Personal Credit
