Representative 535% APR.
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Proposal for the payment of compensation claims through a scheme of arrangement
A legal process called a scheme of arrangement (the “Scheme”) is being proposed for the purpose of assessing and paying compensation claims against Provident Personal Credit Limited ("PPC") (which traded under the brand names Provident, Glo and Satsuma) and Greenwood Personal Credit Limited ("Greenwood") for unaffordable lending. The Scheme would cover customers to whom loans were given by Provident, Glo, Satsuma or Greenwood, or who may have guaranteed a loan from Glo, between 6 April 2007 and 17 December 2020.
If you received a loan from PPC, or guaranteed a loan from Glo, between 6 April 2007 and 17 December 2020, you can visit Provident Scheme of Arrangement website where you will be able to view more information about the Scheme and next steps if you think you may have a claim. It is important that customers take the necessary action if they believe they may have a claim as failing to do so may result in customers not receiving compensation.
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