Vanquis debt help need

sjtomkinson

Hi All,

Could really do with some help. I owe £3,000 to Vanquis, I know what your thinking and stupid me has used the total credit limit and I just can't afford the minimum payments anymore that basically are about £150 a month and it basically only pays the interest. I called and explained but they said they can't help ive got to pay the minimum each month.

Does anyone have any suggestions? I really don't want to default and understands its my fault but i really do want to pay it off

themull1

Vanquis will pass your debt onto their debt collection agency, if you wait, they will offer 30% off the debt, and then 50%, arrange to reply then.

sjtomkinson

Will this default me or just be passed to the debt collection agency?

TastyTeeth

Default without a doubt if passed to a debt collection agency

amyloofoo

sjtomkinson wrote: »

Hi All,

Could really do with some help. I owe £3,000 to Vanquis, I know what your thinking and stupid me has used the total credit limit and I just can't afford the minimum payments anymore that basically are about £150 a month and it basically only pays the interest. I called and explained but they said they can't help ive got to pay the minimum each month.

Does anyone have any suggestions? I really don't want to default and understands its my fault but i really do want to pay it off

I contacted Vanquis directly when I ran into problems and they were very helpful in offering reduced payments. I also sent them the 'credit card fees' letter from this site, and they agreed to refund all fees ever paid on my account on the condition that I either closed the account when it was repaid, or switched to a card with a higher interest rate which never accrued fees (I chose the former ). If you're wanting to not have a default then try contacting them directly, although if you do set up lower repayments then they will register an 'arrangement to pay' marker on your account.