We are closing Provident Personal Credit 

We’ve made the decision to close Provident Personal Credit (PPC) on 31st December 2021. If you have a balance outstanding with PPC, we’ll be clearing it on that date.

Over the years, we’ve been proud to help people who needed a loan.  However, the tough economic situation meant that Provident stopped lending earlier this year and now we’re closing altogether.

There is nothing you need to do.  You can stop making payments on your outstanding loans owed to PPC and if your payments are taken by the Continuous Payment Authority (CPA), we will stop these for you. Any payments made after 31st December 2021 will be paid back to you.

If you’re in arrears or didn’t pay your loan within the time we agreed when you got your loan, we’ll update your file with our Credit Reference Agency to show the balance as zero and partially settled.

What to do if you need help

If you’re struggling with money there is help and support available to you. We’ve popped some links below that you might find helpful.

Financial difficulties

Personal difficulties

Are you looking for a loan?

We have stopped new lending but there may be other options for you;

1. Credit Unions are community savings and loans providers. They can offer affordable loans to people within their local area. Credit Unions are often able to lend to people whose circumstances might mean they struggle to get a loan from other lenders. They often have branches as well as phone and online support. There are hundreds of Credit Unions across the UK. To find one in your area and to see if you are eligible to join visit https://www.findyourcreditunion.co.uk/
2. Community Development Finance Institutions (or CDFIs)are community lenders that offer affordable and flexible loans alongside free access to advice. There are a dozen CDFIs across the country. You can apply for a loan from a CDFI either online or over the phone and there are branch services available in some areas. Search for a CDFI by visiting https://www.findingfinance.org.uk/. Please note that search results appear in alphabetical order.

Credit Unions and CDFIs also offer loans at specific times such as Christmas, for school uniforms and for other one off expenses.

Payment of compensation claims through a scheme of arrangement

A legal process called a scheme of arrangement (the “Scheme”) is currently in place for the purpose of assessing and paying compensation claims for unaffordable lending against PPC (which traded under the brand names Provident, Glo and Satsuma) and Greenwood Personal Credit Limited ("Greenwood"). Following approval by creditors, the Scheme was approved by the English court on 30th July.

If you received a loan from PPC or Greenwood, or guaranteed a loan from Glo, between 6 April 2007 and 17 December 2020, you can visit the Scheme website {https://scheme.providentpersonalcredit.com} where you will be able to view more information about the Scheme and next steps if you think you may have a claim.  The deadline for submitting a claim for unaffordable lending in the Scheme is 28th February 2022.

IMPORTANT: The best way for you to make a claim is directly with Provident via our Claims Portal which can be accessed via this link {https://scheme.providentpersonalcredit.com/Claims.html}. Making a claim via a third party, such as a Claims Management Company , could potentially incur additional costs and result in you not receiving the full dividend to be paid in the Scheme. We have made the process really straight forward, and you will not need to have access to any of your loan details in order to make a claim directly with Provident. Should you need assistance in completing your claim form our contact centre team will be happy to help. They are available on 0800 056 8936.