Discretionary Commission Arrangements - Compaints and refunds
As you may have read, or heard, Provident (Provident, Satsuma, Glo & Greenwood Personal Credit) are trying to enter a “Scheme of Arrangement” to limit, or cap, the amount amount they have to pay out for a complaint.
They are trying to make it sound like this is a benefit to the customer, but I do not believe it will be.
I am really sorry to have to say that they have put all cases on hold, including unresolved cases and cases at the FOS. Please see their email below.
On Provident’s web site this is what they are saying about it: https://scheme.providentpersonalcredit.com