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Thanks the Echo/Mkmanonline have done a little reading up and have a better understanding of it now!! Says they charge 500% interest PAWOWWWWW. Has been tipped by several knowledgeable guys but trying to think will this style of lending remain as popular going forwards, I understand Mkmanonline this would of been fantastic business when you were a child her similar stories off my own grandparents, I m luck was brought up in a decent area and never come across it first hand (luckily) but can see how it could really take off again if the economy improves!!
In the 50's when my mother need to clothe us, i'm one of seven, for school or help buy present for Christmas, she would call upon the 'Provy' to supply a £5 or £10 voucher to use in Arding & Hobbs, Clapham Junction. He would come around weekly and collect a few shillings until paid off. With a limited income in those days, this form of finance would also be used by many neighbours. At my tender age of 69, i can still remember the agent . He became a family friend.
Grippa
I think PFG still do home collected credit which is essentially door stop lending. An agent will come to your home periodically and you simply pay him/her a pre-agreed amount. PFG also do credit cards - Vanquis, car finance and I think they own Satsuma which is online credit??
Please feel free to correct me guys
Thanks Echo. This is exactly what I m trying to learn what is doorstep lending??? could you explain in a fools guide basics anyone please?? You might laugh and wouldn't Blane you but Never had a lot of debt other than mortgage so don't understand how it works?? I m guessing its not people knocking on doors as the name suggests???
Yes I'm with you Grippa
If this falls back to 390 I'm buying again. Woodford absolutely didn't want to sell his holding in PFG so to me it shows the fundamentals of the company long term are robust. Pay day loan companies have gone, NSF is on a downward trend. And the need for this type of lending will never go away. Money lending will never go out of fashion IMO
Good luck you holders and it'd be good to see The Born return!
sorry sitting on the fence with PFG
Hope he comes back Barrie, everyone says don't invest on other posters opinions and I agree you shouldn't but when some people do a lot of research it help's a lot. I m sitting on the fence with PMO, won't buy for £4 + but if it drops below then might just don't fully understand this industry and not convinved that doorstep lending will still be the way people lend now with the internet changing the way retail is operating. That said although Woodfords blown up he was no fool and didn't have his largest portfolio in here for nothing!!
Maybe he’s on sabbatical but agree his input was always welcome
Wheres TheBorn these days has he sold out?? Used to enjoy his input on the page??