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  • FIRST POST
    dippynina
    Vanquis PPi advice please
    • #1
    • 10th Jun 09, 10:42 PM
    Vanquis PPi advice please 10th Jun 09 at 10:42 PM
    We are struggling financially at the moment as my partner has had a downturn in work since the beginning of the year, and the situation doesn't look like improving in the immediate future. Anyway, at the beginning of the year we started using the CCCS - who have been a godsend.
    One of our creditors is Vanquis Credit Card. We owe around 600 and make a payment of 5.00 per month. I have just checked our statement and Vanquis are deducting 6.22 for 'repayment option plan' . I have looked through old paperwork and found a leaflet which states its the credit card agreement (it doesn't actually have any signatures etc on it) This 'repayment option plan' is actually PPI which we did not know we had and furthermore are still paying, ie our outstanding account is increasing by 1.22 per month!! I am unsure how to proceed with this? Obviously we will to call them and cancel it. I would have assumed under the circumstances they would have cancelled it themselves. Would we be due a refund of monies already paid?

    We also have a Capital One card, that is being paid through CCCS, and although there is no PPI on recent statements they are charging Purchase Interest at approx 15 per month so getting nowhere with paying that either!
    (sorry - I know this is PPI post, but, and please excuse my ignorance - what does that mean?)
    Thanks, any advice much appreciated!!
    If life gives you lemons, make lemonade.
Page 1
  • di3004
    • #2
    • 10th Jun 09, 10:50 PM
    • #2
    • 10th Jun 09, 10:50 PM
    We are struggling financially at the moment as my partner has had a downturn in work since the beginning of the year, and the situation doesn't look like improving in the immediate future. Anyway, at the beginning of the year we started using the CCCS - who have been a godsend.
    One of our creditors is Vanquis Credit Card. We owe around 600 and make a payment of 5.00 per month. I have just checked our statement and Vanquis are deducting 6.22 for 'repayment option plan' . I have looked through old paperwork and found a leaflet which states its the credit card agreement (it doesn't actually have any signatures etc on it) This 'repayment option plan' is actually PPI which we did not know we had and furthermore are still paying, ie our outstanding account is increasing by 1.22 per month!! I am unsure how to proceed with this? Obviously we will to call them and cancel it. I would have assumed under the circumstances they would have cancelled it themselves. Would we be due a refund of monies already paid?

    We also have a Capital One card, that is being paid through CCCS, and although there is no PPI on recent statements they are charging Purchase Interest at approx 15 per month so getting nowhere with paying that either!
    (sorry - I know this is PPI post, but, and please excuse my ignorance - what does that mean?)
    Thanks, any advice much appreciated!!
    Originally posted by dippynina

    Hello there and good one for sorting out your issues.

    I would definately try to reclaim on the PPI, not sure on the other matter with Cap one though so hopefully someone else can advise you on that one.

    In regards of reclaiming you can write to reclaim on the ppi with the interest etc, they have 8 weeks in full to respond.
    More info here with templates to help you though:
    http://www.moneysavingexpert.com/rec...loan-insurance
    Post all letters by recorded delivery, if they don't resolve this on the first response write back to them and keep on until you receive the final response, they should confirm the details of the financial ombudsman service (FOS), you can go to these if your not satisfied with the outcome.

    Going back to the purchased interest on Cap one, just a suggestion but if you were not unaware of this until recently, write to ask what this involves and if your not happy about this then complain, again they have 8 weeks and its another matter you can take to the FOS if they don't resolve in your favour in returning your money.

    You never know if successful it could all help to towards what you owe, good luck and ask for further help when required.
    The one and only "Dizzy Di"
  • dippynina
    • #3
    • 10th Jun 09, 10:57 PM
    • #3
    • 10th Jun 09, 10:57 PM
    Hello there and good one for sorting out your issues.

    I would definately try to reclaim on the PPI, not sure on the other matter with Cap one though so hopefully someone else can advise you on that one.

    In regards of reclaiming you can write to reclaim on the ppi with the interest etc, they have 8 weeks in full to respond.
    More info here with templates to help you though:
    http://www.moneysavingexpert.com/rec...loan-insurance
    Post all letters by recorded delivery, if they don't resolve this on the first response write back to them and keep on until you receive the final response, they should confirm the details of the financial ombudsman service (FOS), you can go to these if your not satisfied with the outcome.

    Going back to the purchased interest on Cap one, just a suggestion but if you were not unaware of this until recently, write to ask what this involves and if your not happy about this then complain, again they have 8 weeks and its another matter you can take to the FOS if they don't resolve in your favour in returning your money.

    You never know if successful it could all help to towards what you owe, good luck and ask for further help when required.
    Originally posted by di3004
    Di3004, I would just like to say thank you again for your advice. I have posted other questions previously, as in the middle of reclaiming PPI from a couple of other companies (although unsuccessful so far!!) You have been a star!!
    If life gives you lemons, make lemonade.
  • di3004
    • #4
    • 10th Jun 09, 11:02 PM
    • #4
    • 10th Jun 09, 11:02 PM
    Di3004, I would just like to say thank you again for your advice. I have posted other questions previously, as in the middle of reclaiming PPI from a couple of other companies (although unsuccessful so far!!) You have been a star!!
    Originally posted by dippynina
    Your very welcome hunni

    Keep on at them is best.
    I wish you all the luck in the world and I'm sure some success will come out of this.XX
    The one and only "Dizzy Di"
  • fayei
    • #5
    • 2nd Nov 09, 7:13 PM
    • #5
    • 2nd Nov 09, 7:13 PM
    Hii,,

    I sent off a letter requesting a list of charges from Vanquis along with a 10 chq (on the 19/10/2009).... i recieved a letter a few days later saying they would look into my request, they also sent the chq back!!!

    today...2/11/09..i received a full offer of 156.00 which is the total amount - int.

    HOWEVER.....i have a problem, i also sent off a request for my PPI to be refunded. On my statements im clearly paying ppi and the total is around 70.......

    Vanquis say.........further to the above (my offer of charges) please note that Vanquis do not sell any type of payment protection insurance against any of our credit card products...........

    I sent in a standard letter from this site regarding my ppi, are they dis-regardingmy claim or what......im not following???

    any suggestions???

    thanks
  • bettykitten_69
    • #6
    • 5th Nov 09, 7:56 PM
    • #6
    • 5th Nov 09, 7:56 PM
    I have had the same response, it is PPI they are selling but not calling it PPI, they call it something else - repayment option plan

    I have simply sent a letter stating same thing, mis-sold !!
  • BankStaff
    • #7
    • 9th Dec 11, 10:55 PM
    • #7
    • 9th Dec 11, 10:55 PM
    What address are you using to send your ppi complaint to Vanquis. Cannot find a complaint department address for them and they are uber unhelpful over the phone
  • psmith507
    • #8
    • 23rd Feb 12, 12:41 PM
    • #8
    • 23rd Feb 12, 12:41 PM
    i'm having issues with Vanquis currently, they claim that their 'Repayment Option Plan' isn't actually insurance but just an option that allowqs you to 'freeze' your account if you become unemployed.

    is this legal?
  • psmith507
    • #9
    • 23rd Feb 12, 12:46 PM
    • #9
    • 23rd Feb 12, 12:46 PM
    hi

    is there any way in which i can get my credit card company, vanquis in my case, to close my account and accept regular repayments to clear the balance.

    the reason i ask is that i was made redundant with no notice, i dont have documentation stating my redundancy due to company folding. as such vanquis wont activate the repayment option plan which in itself turns out to be just a means to freeze my account for 3 months.

    in essence if i cant get the account closed and them to accept monthly reduced payments i will never be out of debt with them unless i get another job which at the moment isnt looking promising.

    any help appreciated
  • amersall
    i'm having issues with Vanquis currently, they claim that their 'Repayment Option Plan' isn't actually insurance but just an option that allowqs you to 'freeze' your account if you become unemployed.

    is this legal?
    Originally posted by psmith507
    It is not illegal.
    If you had ways of paying this card if you were unemployed,then you may have been mis sold this,look here for reasons for mis sell

    http://www.moneysavingexpert.com/rec...nsurance#step2
    If any/all apply to you then put a claim in.

  • amersall
    hi

    is there any way in which i can get my credit card company, vanquis in my case, to close my account and accept regular repayments to clear the balance.

    the reason i ask is that i was made redundant with no notice, i dont have documentation stating my redundancy due to company folding. as such vanquis wont activate the repayment option plan which in itself turns out to be just a means to freeze my account for 3 months.

    in essence if i cant get the account closed and them to accept monthly reduced payments i will never be out of debt with them unless i get another job which at the moment isnt looking promising.

    any help appreciated
    Originally posted by psmith507
    If the company folded you need to contact the firm who are dealing with the assets of this company,they will give you proof of the redundancy,you have paid this insurance to Vanquis and should make use of this.

  • u_o_me
    Hi,

    I recently called Aqua (no letter required!) and complained about the mis-selling of PPI to me back in 2005 when I applied for the card.

    Within 2 weeks they have sent me a letter apologising and offering me 1148.26! Great result! I've always been a PPI reclaim sceptic but this was easy!

    Now my next conquest which I am hoping for some help with:

    I have had my Vanquis card since 2005 too. I started with a 250 limit but now this is at 2500 and I still have 100 to use, so not overlimit and shouldn't be anytime soon.

    Firstly, I have asked them about ROP which is their version of PPI as I understand it. They have stopped this now and have filed my complaint for resolution within 56 days.
    Has anyone had any joy claiming from Vanquis recently (in the last year or so?)?
    I await their next letter and will update as soon as I get anything.

    Secondly, I always keep up with my monthly payments and haven't used the card (I binned it years ago) for a long time, but every month my charges seem higher than the last and I don't understand why I'm not making inroads on the balance. Currently, I am paying around 125 p/m.
    Is there anything I can do about this? Or any info I can request to see why I am paying such amounts monthly and am still no closer to paying the balance off? Or can I ask them to freeze interest, if so, on what grounds?

    Any help on the latter would be greatly appreciated
  • -taff
    Secondly, I always keep up with my monthly payments and haven't used the card (I binned it years ago) for a long time, but every month my charges seem higher than the last and I don't understand why I'm not making inroads on the balance. Currently, I am paying around 125 p/m.
    Is there anything I can do about this?
    Originally posted by u_o_me
    Have you checked your staements to see why? Are you only paying the minimum? If you are, the interest each month will keep pushing the minimum up.
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