Representative 535% APR.
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.
Over the years, we’ve been proud to help people who need a loan and can’t get one elsewhere. However, the tough economic situation has resulted in us making the difficult decision to stop lending.
As of 10th May 2021, we won’t issue any new loans. This includes new loans to existing customers. To find out more read our FAQs.
We’re focused on looking after existing customers and their loans. We’re still here to help.
If you’ve already got a loan with us, it’s important that you continue to repay your current loan(s). Keeping up with your payments will have a positive impact on your credit score. We understand it’s a difficult time due to Covid-19, so speak to our contact centre if you can’t make a payment. They can be reached on 0800 694 0004.
We have stopped new lending but there may be other options for you;
Credit Unions and CDFIs also offer loans at specific times such as Christmas, for school uniforms and for other one off expenses.