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Virgin Credit Card Services/Insolvency
Credit_Card_help
Posts: 1 Newbie
in Credit cards
Hi all, I would like to share some advice with you all. Firstly don't do it as you or I wouldn't be on here.
For a whole year I have been trying to pay my outstanding balance to Virgin for over 1 year. My balance was £5500. I have paid just over £3000 in 12 months and my balance remains the same!! (Shocking). After Christmas last year 2008 I ceased all purchasing on the account and desired to become debt free in 2 years. Virgin actually ammended my interest rate to 34.9% they informed me end Nov 08 that in Jan 09 the interest would be increased as it was variable. This has caused me and my family no end of hardship beyond belief - the interest has taken me over my limit on more than one occasion that. I took advice from this site and it was very good indeed, I took it and took the matter up with virgin who quote "we are unable to disclose details of your interest rate as this is confidential".
I have pursued this matter with Virgin for the last 9 months, written a letter of complaint to them but in a nutshell, it got me nowhere until today after speaking to another dept in Virgin after I have constantly called them daily, they have agreed after 9 Months to reduce my interest back to 12% which will affect my credit file for the next 5 years. I just feel that on principle I have been persecuted by them, false promises, not returning calls every day/every week. I did hound them every week to be honest. It has been such a hard slog to get them to reduce my interest back down and to make it worse they will not backdate the matter.
If you feel like you are at your wits end with everything, keep at it don't give up and doccument everything. I am going to write to the financial Ombudsman to complain and see if I can get any help with they way I have been treated and ask anyone on here if you think it may help me in this matter.
I am not over the hill yet as I have 5 years of hard graft to become debt free. I would like to make it 2 years but cant. Advice is I wish I could turn the clock back and start again etc but I can't. I would really appreciate some useful advice on the Ombudsman in this matter or anything I could do correct it. Thanks
For a whole year I have been trying to pay my outstanding balance to Virgin for over 1 year. My balance was £5500. I have paid just over £3000 in 12 months and my balance remains the same!! (Shocking). After Christmas last year 2008 I ceased all purchasing on the account and desired to become debt free in 2 years. Virgin actually ammended my interest rate to 34.9% they informed me end Nov 08 that in Jan 09 the interest would be increased as it was variable. This has caused me and my family no end of hardship beyond belief - the interest has taken me over my limit on more than one occasion that. I took advice from this site and it was very good indeed, I took it and took the matter up with virgin who quote "we are unable to disclose details of your interest rate as this is confidential".
I have pursued this matter with Virgin for the last 9 months, written a letter of complaint to them but in a nutshell, it got me nowhere until today after speaking to another dept in Virgin after I have constantly called them daily, they have agreed after 9 Months to reduce my interest back to 12% which will affect my credit file for the next 5 years. I just feel that on principle I have been persecuted by them, false promises, not returning calls every day/every week. I did hound them every week to be honest. It has been such a hard slog to get them to reduce my interest back down and to make it worse they will not backdate the matter.
If you feel like you are at your wits end with everything, keep at it don't give up and doccument everything. I am going to write to the financial Ombudsman to complain and see if I can get any help with they way I have been treated and ask anyone on here if you think it may help me in this matter.
I am not over the hill yet as I have 5 years of hard graft to become debt free. I would like to make it 2 years but cant. Advice is I wish I could turn the clock back and start again etc but I can't. I would really appreciate some useful advice on the Ombudsman in this matter or anything I could do correct it. Thanks
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