We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Vanquis interest charges reclaim
Cm17
Posts: 1 Newbie
Hello there
I’m looking for some advice please re reclaiming from vanquis for interest charges, cash interest, purchase interest. I wrote to them regarding the repayment option plan which they’ve said I was never on and and they’ve sent a list of my transactions. Approx £450 worth of transactions are listed but undisclosed in the description box so I’ve asked for details and approx £1600 worth of charges have been applied which I’ve asked them to explain also. Am I entitled to any of this back? Has anyone successfully reclaimed?
Thanks, Clare
I’m looking for some advice please re reclaiming from vanquis for interest charges, cash interest, purchase interest. I wrote to them regarding the repayment option plan which they’ve said I was never on and and they’ve sent a list of my transactions. Approx £450 worth of transactions are listed but undisclosed in the description box so I’ve asked for details and approx £1600 worth of charges have been applied which I’ve asked them to explain also. Am I entitled to any of this back? Has anyone successfully reclaimed?
Thanks, Clare
0
Comments
-
No, you're not entitled to interest or fees back.
Their repayment plan isn't considered PPI, so you're unlikely to be able to successfully complain about that.0 -
Am I entitled to any of this back?
No. No entitlement exists.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Repayment Option Plan (ROP) is still being investigated by the FSA, but if you didn't have this there doesn't appear any justification for you to demand interest and charges be refunded to you.I wrote to them regarding the repayment option plan which they’ve said I was never on
Indeed, even ROP is still in use-just suspended for new customers while the regulator conducts an investigation.
https://www.moneysavingexpert.com/news/cards/2017/08/vanquis-bank-investigated-over-credit-card-repayment-offer-0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 347.8K Banking & Borrowing
- 251.9K Reduce Debt & Boost Income
- 452.2K Spending & Discounts
- 240.1K Work, Benefits & Business
- 616.2K Mortgages, Homes & Bills
- 175.3K Life & Family
- 253.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards