Vanquis - repayment plan help

beastra

Hi this is my first post and I wonder if snybody could offer help.

I am on sickness benefits now due to mobility and mental health issues and am unable to repay my minimum monthly payment on my Aqua and Vanquis credit cards. I do however want to pay something to show willing to pay.

Aqua had reduced my interest rate and stopped charging fees and are accepting £6 per month.

Vanquis wanted twice what I could afford but I have explained that I cannot afford that but have paid them a sum. I have asked on a number of occasions if they could accept this and stop any charges which have increased my debt by £500. I have heard nothing back.

Can anybody suggest any letters I could send or help I could seek.

Thanks in advance

crazyguy

Send this to them via recorded delivery, no guarantee that interest and charges will be frozen, and also no DMP Company can make this happen either.


Dear Sirs

Account/Agreement Number

You will be aware from my earlier letter that I am experiencing financial
difficulties due to..................................................................

I enclose a copy of my current financial statement which includes payment of
arrears to my priority creditors. I also enclose a schedule of all my secondary
debts from which you will see the available money has been apportioned on
a pro rata basis.

I ask that you will accept this offer of £...... per month and stop interest or other
charges accruing in order that the payments will begin to reduce the debt.
Please confirm your acceptance in writing and advise me how the payments
should be made.

Thank you in anticipation.


Yours faithfully

chanz4

right to the brainless twits, I spoke them for 10 minutes when accepted and thought they were less that desirable hence the shredder when the card came. Write to them or get the CAB to.

Atom

SCUMBAGS - They do not give a monkeys and they will still try get what they can outta you - if i where you i would say take it or leave it, either way it's still gonna trash your credit file.

fozmcfc

Atom wrote: »

SCUMBAGS - They do not give a monkeys and they will still try get what they can outta you - if i where you i would say take it or leave it, either way it's still gonna trash your credit file.

Why are they? The OP has got the cards and spent the money.

This must hear hundereds of sob stories a week from people who can't/don't want to pay.

Until the OP has actually provided them with evidence to back up their situation, I think they have every right to be cautious.

Afterall companies such as Vanquis actually give people with bad/no credit history a chance when others won't touch them with a barge pole.

Having said that, I have no reason to not believe the OP and hope they do find a way back to full health and back to living a nice lifestyle.

But I haven't afforded them credit and haven't had to deal with thousands of people who wish to get out of their financial commitments.

chanz4

Your correct I wouldnt say they are , but I will say they are very pushy and rude and I dont owe them a penny.

Atom

I know that but everyone at some point in life falls on hard times - we all have, i don't believe everyone just wants a way out and not pay there debts, Vanquis are the worst people to deal with in any scenario, they prey on the weak, a lot of companies will help out and agree to some form of payment plan but Vanquis, they hang up on you talk to you like sh*t and reject anything you propose to them.

It's well known they do not let a lot of balance transfers go through due to there greedy tactics - its just paints a picture to what kind of people they all are.

So screw them.

fozmcfc wrote: »

Why are they? The OP has got the cards and spent the money.

This must hear hundereds of sob stories a week from people who can't/don't want to pay.

Until the OP has actually provided them with evidence to back up their situation, I think they have every right to be cautious.

Afterall companies such as Vanquis actually give people with bad/no credit history a chance when others won't touch them with a barge pole.

Having said that, I have no reason to not believe the OP and hope they do find a way back to full health and back to living a nice lifestyle.

But I haven't afforded them credit and haven't had to deal with thousands of people who wish to get out of their financial commitments.

fozmcfc

No doubt Vanquis/Aqua etc have helped many people on the way to getting mainstream credit.

Vanquis don't prey on people, they provide people with a way of getting on the credit ladder or back on it, if people have fallen off before. It is entitely then up to the person how they choose to conduct their life financially.

If companies like them didn't exist, many people who do want to start borrowing responsibly wouldn't be able to.

As I said I wish the OP the best of luck, but as an overall picture, I don't see how people can blame Vanquis etc for the mess THEY get themselves into.

alfred64

Vanquis is a credit building card and should not be used to build debt - but too many vulnerable people are tempted to do just that.

beastra

Thank to those who have offerered assistance and to others with some positive comments.

I do want to pay this money off and yes I do accept I spent the money.

I have telephoned Vanquis today and they refused to accept my £24 instalment and said they do not deal with the account any more and have sold it to 1st credit after adding on £400 in interest and charges.

There is no notice of assignment and I am now at a loss.

Can I complain to the FOS about the treatment. How can I get the the charges removed to allow me to pay off the debt.

Any help would help me in my desperate state.

thanks

crazyguy

beastra wrote: »

Thank to those who have offerered assistance and to others with some positive comments.

I do want to pay this money off and yes I do accept I spent the money.

I have telephoned Vanquis today and they refused to accept my £24 instalment and said they do not deal with the account any more and have sold it to 1st credit after adding on £400 in interest and charges.

There is no notice of assignment and I am now at a loss.

Can I complain to the FOS about the treatment. How can I get the the charges removed to allow me to pay off the debt.

Any help would help me in my desperate state.

thanks

If you had taken notice of my post and posted the letter with an SOA you may have had a chance to get a reduced payment plan.