Moneylender Provident is writing off the debts of all of its Irish borrowers because it is withdrawing from the market here.
In a statement posted on its Irish website, Provident said it had “good news” for borrowers with an outstanding balance on their loans as it “stopped receiving payments at 9:30 am on June 28”.
“Any balance remaining after this date is now refunded,” he added.
Provident, which is one of the largest pawn shops in the Irish market, said there were no further repayments to be made to loan officers or directly to the lender.
For borrowers with a loan amount of $ 500 or more, Provident said it will “update your credit report to show that your balance has been cleared.”
He added that “if your loan was less than $ 500, don’t worry because we didn’t put anything on your credit report when you took out the loan.”
The company also advises all borrowers who need to repay their loans not to make payments “to Provident, your agent, or anyone else. You can keep any money you have left over, including interests”.
The provident loan business in Ireland will close tomorrow July 1.
In May, the lender announced that it had decided to shut down its home loan division, as the Covid pandemic hit its recovery efforts.