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Original poster

Anyone ever used PROVIDENT for a loan or shopping vouchers ??

46 replies

Nutcracker · 29/11/2004 14:32

Just wondering as i am struggling yet again and don't think i am gonna be able to manage this month what with 2 birthdays and xmas presies still to buy.

Have had a quick look on their website and they seem o.k but don't really know anyone who has used them.

They say the payment amount remains the same throughout the entire period you pay it off, which is what i was most worried about.

Any opinions, experiances |???

OP posts:
northstar · 29/11/2004 14:50

ooooh might be sticking my neck out here but my friend works for a monetary advice and budgeting service, and her (personal)view of them is very low. Maybe try to talk to exististing clients?

Aimsmum · 29/11/2004 14:51

Message withdrawn

spacemonkey · 29/11/2004 14:53

That is a ridiculously high level of interest. Don't do it!

joash · 29/11/2004 14:53

I have trained debt advice workers and I would definately say - don't touch these with a barge-pole. Whose birthdays are they?

joash · 29/11/2004 15:00

If you talk to people that you generally buy pressies for and explain that because money is a little tight you're just concentrating on your child/children this year - they should be adult enough to understand.

spacemonkey · 29/11/2004 15:03

I am completely broke at the moment and have told my kids they're not getting any presents from me this year. I know it sounds mean, but there's no way I'm getting myself even further in debt to buy non essential items like presents! Really, I wouldn't touch a company like that, it will only make any existing financial problems worse

joash · 29/11/2004 15:09

When DD was small, DH was on strike and had been for some weeks when Xmas arrived. We explained the situation to her as simply as possible and said that when daddy went back to work we'd buy her a special pressie. We just got her a colouring book and some crayons for xmas (she had pressies from other people) then when he went back to work about three months later we bought her a little trike that she wanted.

Kids are very resilient and love getting somehting after the event when everyone else is getting nothing.

joash · 29/11/2004 15:10

Sorry posted before I'd finished.

What I'm saying, is that you can always get your own children something when you're a little more well-off and you'll feel much better than if you were in debt.

spacemonkey · 29/11/2004 15:11

I don't think it does kids any harm at all to understand that sometimes there isn't enough money. Actually some of the best times I have had with the kids is when we've been broke and have made that much extra effort to make our own fun rather than buy it IYKWIM

spacemonkey · 29/11/2004 15:14

sorry, if that sounded all holier than thou it wasn't meant that way at all just realised it might have come across as really pompous!

joash · 29/11/2004 15:15

You can still make christmas special. Bake with them, play daft games - mine liked to see who could build the biggest tower with newspaper and sellotape. Or hide sweets (or something suitable around the house) and play 'hot and cold' when hunting for them. theres loads that you could do to make it a family time rather than a pressie time.

Original poster
Nutcracker · 29/11/2004 16:11

Only prob is that Dd2's birthday is on the 12th and Dd1's was last month and i can hardly not give Dd2 anything when dd2 had a bike etc.

Am desperatly trying to think of other ways of getting the money but no good so far.

I need it for bills too, not just pressies.

OP posts:
spacemonkey · 29/11/2004 16:15

Totally understand the problem nutty, but the problem will probably just escalate if you are having to borrow money for bills from a lender like that. Could you ask a relative to help out on the birthday pressie and go to CAB maybe for some advice about covering your bills?

Original poster
Nutcracker · 29/11/2004 16:17

Hmmm can't really ask any relatives as they are pretty much broke too.

Have already re whotsitted a few bills to make the payments smaller.

God i do it every bloody year, why do i never learn.

Seriously considering moving the kids birthdays around the year

OP posts:
spacemonkey · 29/11/2004 16:18

How old will dd2 be and what does she want for her birthday?

joash · 29/11/2004 16:22

Totally agree with spacemonkey -things will only get worse, if you keep borrowing to make ends meet. I appreciate that relatives are also short of cash - what about asking them all to chip in a couple of quid and buying one big pressie from you all?

tiredemma · 29/11/2004 16:23

can i just say no nutty to provident- IME they are vultures- my mom and dad had them for as long as i can remember growing up and they never seemed to be clearing the debts, they constantly offer more money and more vouchers.
my dad only payed them off last year and they first had a provident loan when i was 6.
they dont offer a solution they just add to a problem

karenanne · 29/11/2004 16:23

i know a friend who has used these in the past.they do charge quite high interest but if youre badly in need of money theyre are worse places to go.she was quitehappy with them,she knew what she was taking on and as she paid it weekly it didnt seem that bad.i do know that with new clients they only let you borrow £300 first time ,although dont know if thats changed,as i say it was a while ago she used them.so if you need more than that then id not bother.hope thats helped

Original poster
Nutcracker · 29/11/2004 16:28

I think it said 500 on the site Karenanne.

She wants a bike, cos dd1 had one and i can't very well not get it, am going to order it on monday. Other than that she already has some Dora doll she asked for and that is it.

Should of said though that before i even get to Dd2's birthday, i have Ds's on the 6th.

Really should learn to have self control between march and april

OP posts:
crunchie · 29/11/2004 16:35

Nutty you can say no. A bike is really expensive. Seriuosly how old is she? Has she already got a bike she has grown out of? I have already told my girls they'll get a bike at 4, another at 7 or 8 and a grown up one at 13, and that's it. If you have to get one look at Sterling House they are £39.99 which is really good for what you get. Or look at Car boot sales.

Please don't go down the loan route, you will never manage to save enough to pay it off.

Original poster
Nutcracker · 29/11/2004 16:37

I can't not let her have it when she has seen dd1 have hers.

Neither of them had ever had bikes before cos we lived in a flat. I am getting it from sterling house, thats where i got Dd1's from.

OP posts:
Original poster
Nutcracker · 29/11/2004 16:37

Sorry, forgot to say, she will be 5.

OP posts:
crunchie · 29/11/2004 17:03

OK fair enough. I do understand the problem.

I still would avoid the loan route, if you can. Also if you get the whole £500 in case, you will spend it all and then struggle to repay it.

What about the other stuff, can you go car booting for Christmas presents? Can you avoid buying for the adults this year. I realise it is a struggle but can you get a slightly larger overdraft (if you have a bank account) or go to your bank for a very small loan. They would be far cheaper if you HAVE to borrow some cash.

misdee · 29/11/2004 17:19

for next year, (i would avoid provident as well tbh) look into Park or soemthing. they do high street vouchers in their catalaogues. one year i saved £300 with a park agent at work and got the full £300 in vouchers. think it was about 15 a week i paid her. it made xmas so much easier.

Original poster
Nutcracker · 29/11/2004 17:21

Have already tried the bank as i already have a overdraft and loan with them but they said no.

I'll try and exhaust all other avenues before i consider this any further.

Thanks all

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