Greenwood Personal Credit Unaffordable Lending Complaints
Greenwood Personal Credit was a doorstep loan brand acquired by Provident Personal Credit in 1977 and run as a sister brand alongside the main Provident operation for several decades. Greenwood loans fell within the scope of the Provident Personal Credit Scheme of Arrangement, which closed to claims in 2022. The Provident home credit operation closed on 31 December 2021. This page explains where Greenwood complaints stand now.
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About Greenwood Personal Credit
Greenwood Personal Credit Limited was founded in 1877 by William Greenwood — a few years before Joshua Kelley Waddilove founded the main Provident business in 1880. Provident acquired Greenwood in 1977 (Greenwood’s 100th anniversary) and ran it as a sister brand under separate identity but using a similar home-collected credit model.
Greenwood’s offering was traditional doorstep lending:
- Small unsecured loans, typically £100-£500.
- Weekly cash repayments collected at the customer’s home by self-employed agents.
- Loans tailored to customers with poor credit, CCJs, or limited mainstream credit access.
- Effective APRs typically 300%+, reflecting the home-collection cost.
- A representative example from 2005: £200 over 33 weeks at £10 per week = total repayment £330 (433.4% representative APR).
The Greenwood name was eventually largely subsumed into the Provident main brand. By the time of the 2021 closure, Greenwood was operationally part of Provident’s wider home credit operation.
The Provident Scheme of Arrangement
In March 2021, Provident Financial plc launched a Scheme of Arrangement covering historic affordability redress claims for its consumer credit division. The scheme covered:
- Provident Personal Credit Limited (the main home credit business).
- Greenwood Personal Credit Limited (the same group).
- Glo loans (an online lending brand).
- Satsuma Loans (Provident’s online short-term lending operation).
Scheme features:
- Covered loans issued between 6 April 2007 and 17 December 2020.
- Approximately 4.2 million current or former customers were potentially eligible.
- £50m allocated to the scheme fund, plus £15m for scheme costs (£65m total commitment).
- Claim window of 6 months from scheme approval — closing 2022.
- Estimated payout of 4-10p in the pound on calculated claims.
- FOS uphold rate against Provident-group lending had been around 75% historically.
The scheme was approved at customer meetings and sanctioned by the High Court. Distributions ran through 2022-2023.
Closure of the consumer credit division
Provident announced in May 2021 that it was closing its consumer credit division — the home credit operation that included both Provident and Greenwood. The closure took effect on 31 December 2021. From that date:
- No new loans were issued.
- Outstanding debts at the closure date were written off — customers were not required to make further repayments.
- Continuous payment authorities were cancelled automatically.
- Any post-closure-date payments were refunded.
The wider Provident Financial plc continued operating through its other businesses (notably Vanquis Bank), which were not affected by the consumer credit division closure.
Where Greenwood complaints stand now
For Greenwood customers, the practical position depends on whether they were inside or outside the scheme:
- Customers who claimed under the Provident scheme — received a small percentage payout (4-10p in the pound). Distributions complete.
- Customers who did not claim before the deadline — generally cannot now bring affordability complaints. The scheme cut off new claims at the deadline.
- Customers with loans active at 31 December 2021 — outstanding debt was written off at closure. No further repayments due, no negative credit-file consequences arising from the closure itself.
For customers who missed the scheme deadline
The Provident scheme closed to new claims after the 6-month window. Customers who didn’t claim within that period generally cannot bring fresh affordability complaints now. Limited possible alternatives:
- Section 140A unfair relationship court claims — theoretically available but practically constrained by the scheme.
- Where the scheme included a “missed claimants” mechanism — generally narrow and requiring specific circumstances.
- Specific advice on unusual situations is sensible.
What if the lender has gone into administration?.
Common patterns in home credit complaints
For customers who did claim under the Provident scheme covering Greenwood, common issues were:
- Loans given to customers on benefits or low incomes with no realistic ability to absorb the very high effective interest cost.
- Repeat lending — multiple loans with the same agent rolling over.
- Affordability assessments based on agent observation rather than verified data.
- Vulnerability indicators visible but not factored into lending decisions.
- Top-up and refinancing patterns where the underlying inability to service the debt was not addressed.
Frequently asked questions
My Greenwood loan was from before 2007 — was it covered?
No — the Provident scheme covered loans from 6 April 2007 onwards. Pre-2007 loans were outside the scheme scope. The Financial Ombudsman’s standard time limits (six years from the loan or three from awareness) generally rule out claims about much older lending in any event.
Is Provident still operating in any form?
Yes — Provident Financial plc continues to operate, but the home credit consumer division (including Greenwood) closed on 31 December 2021. Vanquis Bank, owned by the same group, continues separately and is not affected.
Related guides
- What if the lender has gone into administration?
- Doorstep loans claims hub
- How far back can I claim?
- Section 140A and the unfair relationship test
- Do I have an unaffordable lending claim?
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