Moneylender Provident writes off Irish borrowers’ debts as it exits the market
DUBLIN: Moneylender Provident is writing off the debts of all its Irish customers as it exits the market in the Republic. The decision comes as the company closes its loans business in Ireland tomorrow, July 1st.
Provident Financial Group announced last month that it has decided to withdraw its doorstep lending division from the UK and Irish markets due to the devastating impact of the COVID-19 pandemic on its turnaround efforts.
Provident, one of the leading moneylenders in the Irish market, said in a statement on its website that it has stopped accepting payments and has paid off all outstanding balances due by its customers.
“We stopped collecting payments at 9.30am on 28 June 2021. Any remaining balance you have after that date is now paid off. There are no more repayments to make to your Agent or Provident. This is because our loans business closes in Ireland on 1 July,” it said.
For borrowers with a loan amount of €500 or more, the company said it will update the credit record to show that their balance has been cleared. “If your loan was less than €500, don’t worry as we didn’t put anything on your credit record when you took the loan,” it added.
The company has also made it clear that there are no further repayments to be made to loan agents or directly to the lender. “You can keep any money you were still due to repay, including the interest,” it said.
Kindly click the link below to join WhatsApp group chat to get important news and breaking news from Irish Samachar
Comments are closed.