Vanquis Refused to Stop Cash Advance

[Deleted User]

Joe2015 wrote: »

They will be lucky to get anything else other than the £50 back out of me

Why would you opt for getting a default over £2?

Joe2015

zx81 I dont want the advance in the first place...

[Deleted User]

I get that, but now that you've taken it, if you don't pay the £50, plus the fees and interest, you'll end up defaulting, as well as incurring additional fees.

It's simply not worth it for 6 years of bad history.

Joe2015

Deleted_User wrote: »

I get that, but now that you've taken it, if you don't pay the £50, plus the fees and interest, you'll end up defaulting, as well as incurring additional fees.

It's simply not worth it for 6 years of bad history.

The funds will be sent back as a returned payment to them anyway as I've just had a hold put on my bank for inbound payments.

If they can't make the payment to me they can't charge me.

Johnnytwostep

Joe2015 wrote: »

zx81 I dont want the advance in the first place...

You stick it to the man, hold out until they take you to court, and still dont pay. Bring the system crashing down around them. That will show them.

[Deleted User]

Surely the smart thing here would be to find out the account (card) number, and make a payment from your own bank to theirs for £50 now, using the card number as the reference.

This should put your account £50 in credit, then the £50 advance will put it back to zero, and the balance of power in the world will be restored.

Johnnytwostep

Joe2015 wrote: »

The funds will be sent back as a returned payment to them anyway as I've just had a hold put on my bank for inbound payments.

If they can't make the payment to me they can't charge me.

good luck with that one.

grumbler

Joe2015 wrote: »

I'm not after any compo I made an honest mistake and tried to rectify it and the provider are refusing to although under law you've got 15 days to remove yourself off any credit agreement.

14 actually.
Cancel it - nobody stops you. Just pay back the money you owe (the cash advance that you requested) plus the fees and interest incurred (if any).

BTW, 14 days don't apply to "small loans of £50 or less".

Joe2015

Managed to get them to cancel the lot... Took an absolute age mind on the phone.

MisterBaxter

This is one of those times when it may best to take it on the chin and pay what they say is owed; once you've paid then lodge a complaint telling them that they are being unreasonable in not actioning your request to cancel the cash advance. Concede that you made a mistake but point out to them that you contacted them quickly enough to correct it without you having to incur additional charges.

Even if you can stop the payment being received in your account you could still end up with charges being applied and potentially more aggravation in actually dealing with the matter.

Once the £50 appears in your bank account just repay it along with the fees and an overestimate of the interest that will apply so that you are back to nil with them. For a couple of quid it's not worth damaging your credit history.

If you want to close your account do it only once you have cleared it but be certain that if this is your only card you can get another from another company.

EDIT

Was still typing when OP updated status.