The following information is relevant for the customers of the following companies:
The following information is relevant for the customers of the following companies:
Loans sold to Debt Purchasers will have their balances reduced
Our Debt Purchasers have agreed to reduce loan balances for customers with an upheld claim against the Scheme of Arrangement, in the same way Provident has. Where appropriate, the Debt Purchasers including Lowell, Cabot, PRA, Vanquis Bank, Arvato, Grove and Moorcroft will also refund any over payments. We will advise our Debt Purchasers regarding the outcome of your claim during May 2022, so please allow them some time to amend the balance of your account.
Upheld Claim payments
Payments for upheld claims will be paid into bank accounts in July 2022. Cheques will also be posted out during July 2022. The quickest way to get your claim money is by adding your bank account details to your Portal account. You can set up or log into your account here.
Provident will not phone to ask you to add your details to your portal account.
A scheme of arrangement (the “Scheme”) has been implemented 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 covers 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.
The following timeline shows the indicative key Scheme dates and what action you need to take.
We have commenced writing and emailing to all Claimants with their Claim outcomes. All letters and emails are expected to be delivered by the 1st week of May. Please do not call us before this time if you have not received your claim status.
Our Contact Centre is very busy handling your calls. We’re working hard to get through all your calls and emails as quickly as we can.
We’ve developed a range of videos to help you understand the Scheme.