To think these loan companies should be shut down!

[BitGutted]

So we've had a flyer thru our door from provident loans asking us to contact our "local friendly rep" if we want a loan!!

People have had a tough year with covid but borrowing £100 for Christmas and adding about £50-70 on (interest, depending on how long it takes to pay back) is surely unlawful and taking advantage of the most vulnerable people in society and just shouldn't be allowed surely???

I'm just gobsmacked 😶 people like this can operate

I'm considering setting up a national petition to get them shut down!!

FSA never regulated them not defaulted them. Sigh.

People use them for everyday things ,not just Xmas and birthdays,it's all very well thinking these companies shouldn't exist if you are in a privileged position of having savings, access to credit cards etc ,but for some people this is not an option

I do wish Credit Unions had the backing to advertise more. They would be able to help so many people.

www.findyourcreditunion.co.uk

So many credit unions have closed. It's terrible.

They've been going years, I'm sorry but you don't have to take a loan.
If you have no other way to eat, what would you do?

BitGutted you clearly live in a comfortable bubble to afford that attitude! Campaign away you'll make lots of sharks even happier!

Round here both sharks and unregistered lenders are very much on the up, and the better ones have a whole new client base, and it's not the normal suspects.

Like or lump it, they offer better rates for reliable payers on large sums than any other deal many can access, and have a different view over what constitutes credit worthiness, and price accordingly.

People here are borrowing large amounts to bring down or pay off their Covid incurred CT and rent arrears to not face fines and bailiffs and lose their homes, not to treat their kids at Christmas!

Get rid of the Provi and all those folk after relative small amounts for Christmas presents, will be banging on any shark's door they can find.