Vanquis won't set up a repayment plan

Jeff_winter

Hi,
i am after some advise, I have been on a self managed DMP since november 2013.
I have recently lost a couple of hours a week and this has affected the amount I can repay my creditors. I have always been good at letting them know my circumstances change and amending any repayment as necessary.
I have 10 creditors in total some small some large but I treat them all the same. All except vanquis have accepted the lower repayment, some say they will request a fresh income and expenditure in 6 months which is fair enough.
Vanquis however, changed every line of my income and expenditure, telling me to phone my mobile phone provider to request a cheaper deal, telling me to spend less on food, telling me I dont need to save £x amount a month for a car MOT/service.
I went through all the items in detail with them and they refused to set up a repayment plan.

Has anyone else had this?

Does anyone have any thoughts on what I should do? I said what I can afford is what I can afford and that I will continue to make these payments regardless of whether they accept a lower amount or not?

Does anyone have / or had a vanquis account and know at what point they default you or refer you to a DCA?

Thanks in advance

Tixy

Just keep paying what you can afford as you have said to them.

Not sure if you have been communicating with them in writing or by phone, but if the latter I would switch to doing everything in writing only.

Have they not recorded a default on your credit file yet after over a year of reduced payments? Are you paying a lot less than the contracted minimum payment?

Jeff_winter

I have been paying reduced payments for 18 months, my previous contractual payment was £30 per month, and I have been paying £8 since then. They have not defaulted me, why credit file shows a green symbol followed an arrangement to pay

sourcrates

Jeff_winter wrote: »

Hi,
Does anyone have any thoughts on what I should do? I said what I can afford is what I can afford and that I will continue to make these payments regardless of whether they accept a lower amount or not?

Does anyone have / or had a vanquis account and know at what point they default you or refer you to a DCA?

Thanks in advance

Hi,
If there not willing to accept your offer of payment, they will probebly sell on the debt pretty quickly, which will no doubt be to your benefit, as most DCA's are more open to payment arrangements.

sheilatakeabow

How rude of them!

I have a Vanquis card and set up my self-managed DMP with them in December last year. I sent them my income and expenditure form (although I'm not paying all my creditors equally - I'm paying each of them a pro-rata amount based on my level of debt. As Vanquis is my largest debt they receive the largest some of money so maybe that's why they accepted my DMP offer?)

I began by offering them £112 which I paid for two months before realising this was a bit unrealistic and have since reduced it to £50. They accepted both with no bother whatsoever.

I would just continue paying them via standing order (do you have their details?) and let them sell it on to a DCA.

happy_bunny_2

Have all your other accounts defaulted?

That arrangement will hang around for 6 years from when the account is paid.

You could not pay til they default you, or write with a complaint about unreasonably changing your income and expenditure form when other creditors have agreed to reduced payments.