Provident Writes Off Debts of Irish Customers as Business Shuts

Provident Financial Plc has written off the debts of its borrowers in Ireland, an unprecedented move by the money lender as it winds down its business in the country.

The British firm, founded in 1880 to offer doorstep loans, has informed consumers in Ireland that it has stopped collecting payments as of June 28 and therefore any remaining customer loans are now paid off, a company spokesman said in an emailed response to questions.

Credit records for customers are being updated accordingly and its business in Ireland will close on July 1. The firm will continue to collect debts in ...