The Financial Ombudsman (FOS)вЂ™s latest statistics that are quarterly posted on 25 August 2020, highlighted an increase when you look at the wide range of complaints gotten about some forms of high expense credit. Within the duration April June 2020, brand new complaints about house credit rose by 77per cent to 1,166.
Provident could be the major loan provider in your home credit market, also called doorstep financing. When Provident published its outcomes for the 6 months closing 30 June 2020, it reported a rise in complaints during 2020 but would not provide figures. In this specific article, We glance at exactly how Provident is handling affordability complaints. When you have lent a whole lot from Provident, read A template page to inquire of for the reimbursement from Provident and think for those who have a situation to create a claim. You can find numerous of feedback below that article, to help you observe other folks are becoming on along with their complaints.
Background вЂ“ affordability complaints
The rules that are regulatorвЂ™s a lender needs to make appropriate checks that financing is affordable for the borrower. That loan is just affordable in the event that client can repay the mortgage without the need to borrow more income or get behind with regards to other bills and debts. [Read more…]