Information for customers on Provident Personal Credit Limited’s scheme of arrangement and complaints to the ombudsman service.
We are aware that Provident Personal Credit Limited’s (“Provident”) proposed scheme of arrangement with its creditors (which includes customers of Provident, Glo, Satsuma and Greenwood) for complaints about unaffordable lending has now been sanctioned by the court.
Where there is a creditor and court-approved scheme like this one, consumers will be able to make a claim for redress directly through the scheme. So it wouldn’t be appropriate for us to consider complaints further. We’ll be writing out to consumers to explain the next steps.
The only exceptions to this are complaints which are about unaffordable lending on or after 18 December 2020, or complaints which aren’t about unaffordable lending. Because these are not covered by the scheme we are continuing to progress them as normal. All other complaints should be referred directly to Provident for consideration under the scheme.
More information can be found on Provident’s website.
We are aware that Provident Personal Credit Limited (“Provident”) is proposing a scheme of arrangement with its creditors (which includes customers of Provident, Glo, Satsuma and Greenwood) for complaints about unaffordable lending.
If it’s approved by creditors and the court, customers with complaints will be able to make a claim for redress directly through the scheme; but if it’s not approved, we understand from the firm’s proposals that it would need to begin insolvency proceedings.
In these circumstances, we’re not progressing complaints further at this stage or taking on any new complaints affected by the scheme. We’ll be contacting consumers who already have complaints with us to let them know the next steps.
More information can be found on Provident’s website.
10 February 2025
Baroness Manzoor CBE, Chairman of the Financial Ombudsman Service, is stepping down after successfully serving two terms of office when her current term expires on 1 August 2025.
7 February 2025
The Financial Ombudsman Service has announced that it will be proceeding with a proposal to charge professional representatives to refer a case to its service.
6 February 2025
The Financial Ombudsman Service announces that Abby Thomas, who joined in October 2022 as Chief Executive and Chief Ombudsman, is stepping down.
