www.iva.co.uk

After making my last payment this week to my IVA i just received a letter today from Provident Personal Credit offering me a 'hassle free' cash loan of £500 to (and i quote) 'make Christmas special'.. and best of all the APR is only 272.2%! they even sent me a pretend cheque for the £500!

apparently once you sign up then a local agent visits you every week to collect your payments.. i dread to think just how long these 'manageable'payments last on £500 with that kind of skyhigh APR!

anyway it got ripped up and thrown in the bin where it belongs of course but it makes me so annoyed that these organisations can leap on people who have just finished their IVA's and attempt to lure them back into the dark hole of debt!

rant over lol

I know Provident work around my area and many people rely on the loans especially at Christmas time.

Good for you, ripping up the offer.

I've had those whilst in my iva!

Not had any myself but good on you for ripping it up x

I know this firm very well, one of several who got their claws into my Sister. When you get close to paying it off they offer you more and people mostly say yes and so get stuck in a cycle.

They would come to the door and my Sister was in for about £2000 to 3 or 4 firms. Back when I was younger and earning good money I went round with money to settle them for her and tell them to get lost and if I heard they had knocked on her door or sent her any mailings they would be in serious trouble.

My sister paid me back and has not gone back to these people thankfully. One of the firms then started hitting her with mailings even though they had received a letter from me that they acknowledged as per my request to remove her from the mailing list. So I paid their offices a visit and they do not like people showing up like that (I was quite surprised it was not a PO Box Address)and so we managed to get it sorted and she has not been bothered for 10 years by them lol.