Vanquis Bank

SPELLKASTER

I am asking for some advice please.

I have had my vanquis credit card for approximately 7 months.

I have made my payments on time, not defaulted, and kept within my limit.

However, since March, I lost a part of my benefit income.

Vanquis knew at the time they gave me the card about my finances.

I told them I was getting x 2 payments in a month of esa at £220 per fortnight, and £110 per week dla.

In March, I had a benefit assessment as I was transferring over from dla to pip.

The assessor failed to report what she was being told, failed to tick the correct boxes and I lost £53 per week daily care component.

I am having to appeal through a mandatory recon, so don't know if I will yet be successful.

I am sending a letter to vanquis about the problems, and offering £1 token payments until my benefit is reinstated.

I have also asked for them to stop calling and to stop sending texts as its very stressful. I am getting contacted daily.

Am I right to ask them for some breathing space as its not my fault I lost my money!?

fusionx212

SPELLKASTER wrote: »

I am asking for some advice please.

I have had my vanquis credit card for approximately 7 months.

I have made my payments on time, not defaulted, and kept within my limit.

However, since March, I lost a part of my benefit income.

Vanquis knew at the time they gave me the card about my finances.

I told them I was getting x 2 payments in a month of esa at £220 per fortnight, and £110 per week dla.

In March, I had a benefit assessment as I was transferring over from dla to pip.

The assessor failed to report what she was being told, failed to tick the correct boxes and I lost £53 per week daily care component.

I am having to appeal through a mandatory recon, so don't know if I will yet be successful.

I am sending a letter to vanquis about the problems, and offering £1 token payments until my benefit is reinstated.

I have also asked for them to stop calling and to stop sending texts as its very stressful. I am getting contacted daily.

Am I right to ask them for some breathing space as its not my fault I lost my money!?

daily care component? can I ask is it a disability payment?

you are right to contact vanquis ask them to hold all charges until you have rectified the issue.

however this will not be for ever.

they will ask for an income and outgoings breakdown also you then need to make an agreement plan, they probably will refuse a£1 pm offer depends how generous they are feeling.

in my opinion you need to make an arrangement to pay and close the account asap.

it sounds like you can't afford the credit card. arrangements to pay will also appear on your credit.. which is looked at negatively. but if you don't make your contractual payments this will also appear on your credit file and eventually be a default.

do not speak to them on the phone put everything in writing recorded post? you should also contact a third party charity like the CAB. they can assist in drafting letters and explaining your situation.

they may recommend a DRO but this is fairly extreme but if your income is very low

http://www.uswitch.com/debt-help/debt-relief-orders-dro/

https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/debt-relief-orders/

Do you qualify for a Debt Relief Order?
There are rules and restrictions that determine whether you qualify for a DRO. You can only apply for a DRO if you fulfil these criteria:

You have less than £15,000 in qualifying debts.
You have £50 or less per month available in household income after paying for your everyday needs (this includes salary, welfare benefits, pensions, as well as any rent and family contributions).
The things you own and any savings amount to less than £300 (these are your assets).
You have either no vehicle, or a vehicle worth less than £1,000 (there are special allowances for vehicles which have been adapted for disabilities).
You’re eligible to apply if you’ve had a property, run a business, or if you’ve lived in England or Wales in the last 3 years.
You haven’t had an existing Bankruptcy Order, Bankruptcy Restrictions Order or Individual Voluntary Arrangement or a Debt Relief Order in the last six years.
You won’t be eligible for a DRO if:

You’re currently bankrupt.
You have an Individual Voluntary Arrangement (IVA) or are applying for an IVA.
You’re waiting for a hearing on bankruptcy or your case hasn’t yet been dealt with (though your creditors may still agree to an application for debt relief).
You own a property (though there are some exceptions in this case).

National_Debtline

Hi Spellkaster


Yes, you're perfectly entitled to ask Vanquis for some initial breathing space while you seek some advice. This should be granted on a no-questions-asked basis, though as fusion says it is just a temporary measure.


You may want to cancel any Direct Debit for this card in the meantime to err on the side of caution.


Dennis
@natdebtline

SPELLKASTER

Thanks for the replies.

I was on an IVA which folded, so I don't want to do another form of insolvency.

I have already cancelled the dd.

Letter being sent tomorrow to notify them of change of circumstance.

I could initially afford the credit card, but I lost what was the middle rate care component of dla which was £53 per week.

I am doing a mandatory recon as the assessors report was dodgy and looks like I failed before I even got into the building!!

My mum put in a letter of complaint that the assessor did not relay what was being told to her in the assessment.

fusionx212

SPELLKASTER wrote: »

Thanks for the replies.

I was on an IVA which folded, so I don't want to do another form of insolvency.

I have already cancelled the dd.

Letter being sent tomorrow to notify them of change of circumstance.

I could initially afford the credit card, but I lost what was the middle rate care component of dla which was £53 per week.

I am doing a mandatory recon as the assessors report was dodgy and looks like I failed before I even got into the building!!

My mum put in a letter of complaint that the assessor did not relay what was being told to her in the assessment.

I understand, well put your letter but you need to make sure as soon as you get sorted you want to be clearing this card down the % interest will likely be pretty high and gathering.

annmariya

Vanquis bank is a subsidary of financial provident fund which is started in 2003. It provides the credit card under VISA for uk residents. Vanquis bank also provide fixed rate bond service, started in 2011.

Iwanttobefree

When I started my DMP, Vanquis was the kindest creditor I had.

They sent me a letter freezing all interest and charges and said to pay it off at £15.78 a month until the debt is cleared.

No 6 monthly or 12 monthly reviews.

Owed them £2906 on 2014 when they set this up, kept up payments and they haven't asked for a review etc since.

Wish all my other creditors acted like this to be honest.