Provident Financial Share Discussion Threads

[jeannettetigger] 08/7/2020 19:29

I thought you were DiscoDave4?

[discodave45] 08/7/2020 19:25

Do you hold here?I have no need to average down.

[jeannettetigger] 08/7/2020 19:13

Disco did you manage to increase your holdings to average down?.

[discodave45] 08/7/2020 19:02

From their website:'If you're a new customer you can apply for a loan online. If you're accepted in principle a Rep will call you to finish the application'.

[discodave45] 08/7/2020 18:57

Hello, are you buying here or in already?.

[discodave45] 08/7/2020 18:52

CutYou can apply for home credit/loan on line then a rep will visit to finish off the process which will include cash payments. You keep posting false info from what I've read on the PFG website.

[1cutandrun] 08/7/2020 14:36

I know this is all bad news but lets look at the positive side. Once the reps can call again, many customers will want loans and the company can rewrite them. Plus, loads of new customers will want credit. When that will be, who knows. I can't see the reason why reps cannot collect payments from letterboxes or open windows. It only takes a phone call to arrange it.

[jeannettetigger] 08/7/2020 11:11

Disco as feared nearly 160p, are you going to use this drop to increase your holdings?.

[seagreen] 06/7/2020 20:31

Amazing how many people on ADFN come on chortling scare tactics whilst proclaiming to be an expert and comparing companies with diferent strengths of balance sheet and stating they have no position in the specific stock. The term toss pot springs to mind.....or a shorter caught with his pants down.

[discodave45] 06/7/2020 18:31

encarter Yep I second, or is it third, that!.All the best

[superiorshares] 06/7/2020 17:00

:-) Exactly what the NSF crew said FILTERED . I say filter away scoffers :-)

[encarter] 06/7/2020 13:00

I agree, heading back above 200p.

[superiorshares] 06/7/2020 07:53

Discodave45. Another scoffer :-).
You should ask all those scoffers on NSF how they are feeling :-)
As I gave my opinion when it was 12 or so it would be heading to 4p. oh they were chortling and scoffing away :-). There not scoffing now !
I didn't say it was going to £2 . I said if it got back up there I will be shorting this to 70p. I think it will be down in that direction by DEC 2021.
No I don't do the Lottery . I gamble on Tennis though.
You carry on scoffing Discodave45 . :-).
Helicopter money nothing to do with Banks . They call no shots ! . The Banks were told they were not allowed to pay dividends. They call no shots :-)
Moronic Central Banks call the shots !
I will be scoffing at you in due course Discodave45 :-)

[discodave45] 05/7/2020 16:09

Helicopter money ain't going to happen, banks wouldn't allow it and they call the shots.You say this is going to £2, that would do me!......then 70p by Dec 2021, have you got the lottery numbers as well!.All the best anyway.

[superiorshares] 05/7/2020 14:32

1cutandrun .. my old friend.. My thoughts on the whole sector moving lower appear to be transpiring . My thoughts on investing in the basket of three, still remain.
NSF some will say is a disaster, not for me because I haven't bought yet :-). Its a case of wait and see what is left after the share issue.
One thing with the Low end loan market. It totally didn't enter my head.
HELICOPTER MONEY !.
I know they did it in Hong Kong. More and more finance types on the business news are chipping on about it !. If they do implement it ?.. It will devastate this type of Loan arena.
I have no position in NSF/MCL/PFG. If PFG gets anywhere near 2 pound again ?.. The short will go on. I see PFG falling to the 70p area by Dec 2021.

[discodave45] 04/7/2020 18:11

Appreciate what you are saying but the debate was around you saying that home credit growth would suffer because of social distancing, clearly there will be an impact from a recession brought about by the pandemic but social distancing will not inhibit growth at all as the business has adapted to meet the challenges.

[1cutandrun] 04/7/2020 16:19

Home credit will be hit, but the positive side to PFG is Vanquis Bank. Other credit companies will be hit a lot harder and as you say the share price reflects the situation. We will have to wait for Q2 results, which I doubt will be good reading but everyone will be in the same boat apart from Amazon and supermarkets. Give it a year and hopefully we will all be smiling.

[1cutandrun] 04/7/2020 16:04

Thank you for the information Disco. I can see where you are coming from but I wish it was that simple. Home credit is the most complex form of credit. The reason being the involvement of a rep/agent. When you get credit online, this is called an execution-only transaction, which means no advice is given. The companies can't get accused of mis-selling. This applies to all transactions online, be it, investments, banking insurance/assurance and credit. Therefore, when an agent/rep is involved the regulations are strict. That's why they have these procedures in place, which have been approved with the FCA. Changes cannot be made unless the FCA agrees to it.

[jimsyone] 04/7/2020 11:56

Goldman Sachs - Berenberg - Peel Hunt - Liberum - Cannaccord give the top fund managers picks

[discodave45] 04/7/2020 11:11

Have checked out the PFG website and there is a lot of info (and even a video to help existing customers) on how to pay current loans during the impacts of Corona virus. They do state that home visits have stopped as a result but they do also state the following:'If you're a new customer you can apply for a loan online. If you're accepted in principle a Rep will call you to finish the application.'So no problems IMO, they may be suffering from payment deferrals/late payments but that is priced into the share price, and some!.

[discodave45] 04/7/2020 10:59

Thanks, some very useful info, but I see nothing in the procedures you mention that cannot be carried out digitally. You can get most things done online now, even passport renewals, so entering into a loan agreement or paying for your loan shouldn't be an issue if PFG have such facilities in place. Those that want to pay current loans by cash at the door can still be done easily enough I would have thought.Personally I see no issue around social distancing, all businesses are having to adapt and I see no reason that PFG can't or haven't already adapted (some research required!). That also includes legal and regulatory requirements which may also be changing to this new normal.

[1cutandrun] 03/7/2020 22:31

I should have said people can also pay by card or cheque. I'm retired from the company now and it would be interesting to know if the procedure for signing up new customers has changed. Does anyone know?

[1cutandrun] 03/7/2020 21:53

I wish you hadn't asked me that Disco, as it's a bit long winded, but will keep it brief as possible. You cannot cold call selling credit.
If a person states their neighbour wants a loan, you can call on them and say who you are and the company you represent and why you are calling. You can ask what they want but cannot discuss the ins and outs of credit, for an example how much is the interest. Then a request to call document has to be completed and signed by the customer. The company agent or staff can go back the next day (not 24 hours) and discuss credit. This document is proof enough to say it wasn't a cold call (not dated the same as the agreement). Credit can now be discussed and issued. All the documentation has to be done. Photo ID, Utility bills. Your income and expenditure to prove disposable income and affordability. All these documents now have to be seen. We don't want miss selling do we. If everything is ok an agreement can be signed and witnessed and cash handed to the new customer. This is doorstep lending. The physical handing over of cash (bank notes or coins) from one person to another. I keep hearing of digital and auto. There is no such thing, unless you have a debit or credit card and can access cash from a machine. When companies use these words they are talking about accounting, but they give you the impression there is a new magical system where cash can fly through the air and land at your feet. NSF is a prime example, a new auto system so customers can pay. Sending postal orders, cash, paying it at NSF bank or offices is not digital or auto.