my Vanquis hell!!!!

lala0802

hi everyone, i need advice big time!!!!! i have got myself in a loop and cant get out, for the last few yrs i have been chasing my tail when it comes to my debts. my ex partner lost his job 5 yrs ago and things went down hill from there. long and short of it i have a vanquis card with £2000 debt on it. the boys dad cant give me money as he is out of work again, everything i have it allocated to just surviving, im at a place now where i :money:either save £100 a month or pay it off the card but most of that is interest then somethiung crops up and i have no savings. vicious cycle. i have applied for their repayment option plan but its not great. have to apply every 3 months for it to be frozena and then i pay £30 a month just for the privilidge. im literally at my wits ends. my credit rating it non exsistent. can someone please please tell me do i have any rights in terms of just paying £40 a month for next 10 yrs interest free to clear the debt????!!!!!!!:mad::mad::mad::mad:

FireWyrm

lala0802 wrote: »

can someone please please tell me do i have any rights in terms of just paying £40 a month for next 10 yrs interest free to clear the debt????!!!!!!!:mad::mad::mad::mad:

You sound like you are in a vicious cycle and that is terrible, but with regard to the above, I'm afraid it isnt good news. You have no rights at all in this matter. You can request that interest is frozen, but there is nothing you can do to compel them to comply with that request. Indeed, the less reputable the lender, the less willing they are to be reasonable is the general rule of thumb. Your only option is negotiation and if that doesnt work, either increase your income, or decrease your outgoings in an effort to find more money to pay it off.

eskbanker

As above, if you're unable to convince Vanquis then you need to approach this in other ways. Read through http://www.moneysavingexpert.com/loans/debt-help-plan, which starts with the 'increase income or decrease outgoings' principle but also gives guidance on further options such as debt management plans, etc.