Junk Mail

[John S]

Third letter in 2 weeks from Provident Personal Credit with a "fantastic" offer of £500 loans at 117% interest APR.

They provide a post paid reply envelope, I wonder how long it will take for them to start taking people off their mailing lists if everyone posted them back the blank form and envelope. Will give it a try and keep you posted

[Annie]

£500 loans at 117% interest APR.

Jesus, Mary and Joseph!!!!!!

[John S]

£500 loans at 117% interest APR.

Jesus, Mary and Joseph!!!!!!!1

Yep - here's their website http://www.cash--loan.co.uk/ borrow £300 over a year pay back nearly £495.

Sad part is for people with no credit rating there are few options.

[Annie]

Yes there is, it is called "Get a job!""

[Beachcomber]

Third letter in 2 weeks from Provident Personal Credit with a "fantastic" offer of £500 loans at 117% interest APR.

They provide a post paid reply envelope, I wonder how long it will take for them to start taking people off their mailing lists if everyone posted them back the blank form and envelope. Will give it a try and keep you posted

You could always take it a step further and sellotape the reply paid envelope to an old housebrick before putting it in the postbox.

[EMDEE]

Is this not the kind of company that credit unions are meant to combat?

[daftdog]

Third letter in 2 weeks from Provident Personal Credit with a "fantastic" offer of £500 loans at 117% interest APR.

They provide a post paid reply envelope, I wonder how long it will take for them to start taking people off their mailing lists if everyone posted them back the blank form and envelope. Will give it a try and keep you posted

I get these letters every few weeks or so and have noticed the change in the way they are now presented. Before the actual APR rate was well hidden, but since near the start of the year, they have displayed it more prominently (i think legislation came in requiring this from all lenders)

I will now post them back as you suggested, as i usually just toss them in the bin (usually unopened as i recognise the bloody envelopes now).

[Mary G]

Alternatively, you can register with the Mail Preference Service - http://www.mpsonline.org.uk/mpsr/ - and get your address registered so that you don’t receive any junk mail in future. It works, except for the leaflets and similar stuff that arrives with no address. To stop that, ring the Royal Mail opt-out help-line: 0845 7905 950.

Also worth using are the Telephone Preference Service - http://www.tpsonline.org.uk/tps/ (stopping within a month all these offers of cheap double glazing); and the Fax one - http://www.fpsonline.org.uk/fps/ (eliminating the offers of cheap stationery, which you do then need because of all the unwanted faxesthe printed on your paper ...).

If lots of people do this it can – ultimately – cut down on all that unnecessary printing … good for the environment, etc, etc. You won't be interrupted in the middle of your tea with that annoying call. And you don’t need to lick these envelopes to send them back!

[John S]

Is this not the kind of company that credit unions are meant to combat?

No, EMDEE credit unions are meant to serve the interest of their members, who are their savers and borrowers. C U's are foremost co-operative financial services businesses, not social services. However because they are run by and exist for the benefit of members, they don't try to fleece them or draw them into unmanageable debt. Which is why they are popular with the social exclusion agenda in combating illegal moneylenders.
The cost of the services provided by Provident Personal Finance, maybe considered by some as immoral, but they are not illegal.

[Annie]

If Credit Unions "serve their members" properly, then they give them good rates on loans, etc. Thereby COMBATING the competition and enabling their members to make better investment choices rather than electing to use stupid scams like this one.

[John S]

If Credit Unions "serve their members" properly, then they give them good rates on loans, etc. Thereby COMBATING the competition and enabling their members to make better investment choices rather than electing to use stupid scams like this one.

The APR on loans given by credit unions in the UK is set by the Financial Services Authority at a maximum of 12.68%APR calculated on a declining balance. (Borrow £300 over a year and pay back about £322).

I Take your point Annie, what I was trying to emphasise was that the financial services of a CU are provided on a sound business footing, not as some kind of charitable service. Money on lone is not grant funding but savings belonging to members, therefore first priority for any CU is the security of members interests.

Off thread a bit, sorry.

[EMDEE]

Is this not the kind of company that credit unions are meant to combat?

No, EMDEE credit unions are meant to serve the interest of their members, who are their savers and borrowers. C U's are foremost co-operative financial services businesses, not social services. However because they are run by and exist for the benefit of members, they don't try to fleece them or draw them into unmanageable debt. Which is why they are popular with the social exclusion agenda in combating illegal moneylenders.

That is exactly what I meant.

Being legal does not mean that a company is providing a worthwhile service. The whole ethos and business practices of companies like the Provident mean that they are preying on vunerability.

[big tony]

shoot the bastards i say!!!!

or failing that, next time you wipe your arse don't flush, stick it in the prepaid envelope and post it back!!!

apologies to wullie d, but postmen are used to handling shites on a daily basis

just noticed it lets you say bastards but won't let you say shite, maybe i should have written she ite?

[Bobbie En Tejas]

You said mince just fine, tony. Its ass you couldn't say

Woops.. i guess you could!