Aqua terminated card the day my payment holiday ended

lst88

Hi all,

Took a payment holiday over Christmas after missing two payments. I was offered a payment holiday until 4 Jan, which I was happy with. I've since received a letter dated 4 Jan stating they've terminated my credit agreement and want the full balance immediately.

I've double checked all the paperwork I was sent about the payment holiday, and all the chat logs with their customer service member who offered it in the first place. At no point was it mentioned that my agreement would be terminated like this, nor was it mentioned I was apparently supposed to make a payment during the payment holiday.

Does anyone think I have a good basis for a complaint here, or should I not waste my time and just get to paying it off?

born_again

You can complain. But it may not change their mind. Might make them allow you to pay a fixed amount a month till it's cleared. But that will have a big effect on your credit.

Do you have any other credit issues that may have triggered their wanting full balance back?

lst88

born_again wrote: »

You can complain. But it may not change their mind. Might make them allow you to pay a fixed amount a month till it's cleared. But that will have a big effect on your credit.

Do you have any other credit issues that may have triggered their wanting full balance back?

Thanks for your reply.

I see. I figured they were probably not doing anything wrong, other than it being "interesting' customer service. I suppose it couldn't hurt to complain if I feel like I have the energy for it.

My credit file isn't in the best position—to be frank, I was surprised that I was approved for the card and should've known better than to accept it. Reap what you sow, I suppose.

Andy_WSM

lst88 wrote: »

I figured they were probably not doing anything wrong, other than it being "interesting' customer service.

Whilst frank comments are being made...

If it were my business I would not be busting a gut to provide good customer service to people that aren't keeping their side of an agreement - ie paying their bills on time. Certainly not the sort of customer I would spend money (which includes time & effort) trying to retain.

lst88

Andy_WSM wrote: »

Whilst frank comments are being made...

If it were my business I would not be busting a gut to provide good customer service to people that aren't keeping their side of an agreement - ie paying their bills on time. Certainly not the sort of customer I would spend money (which includes time & effort) trying to retain.

That's a fair point. I'm disappointed in the loss of credit, but—keeping it frank—it's really better that I don't have access to it.

I'm writing a letter to them on the assumption that it can't hurt to ask.

Thanks for everybody's input, it is appreciated.

18cc

I believe that if you are in credit difficulties the companies are required to help you eg freezing interest.

I don't know a lot about it but maybe someone on here can give you more info.

Good luck - I know it must be difficult for you.

[Deleted User]

Regarding the termination of the account, are they legally entitled to force you to pay more than the minimum payment each month?

It is likely to be beneficial for you to pay as much as you can, but my understanding was that you had every right to continue to pay (technically) just the minimum payment, month after month.

If paying the lot at once causes you any hardship, I'd be stressing that point - as well as the freezing of interest etc. as mentioned above, they should be helping you - and if your credit file is already bad, a few more negative markers wouldn't make a massive difference.

JonVarnas

Somerset_La_La_La wrote: »

Regarding the termination of the account, are they legally entitled to force you to pay more than the minimum payment each month?

It is likely to be beneficial for you to pay as much as you can, but my understanding was that you had every right to continue to pay (technically) just the minimum payment, month after month.

If paying the lot at once causes you any hardship, I'd be stressing that point - as well as the freezing of interest etc. as mentioned above, they should be helping you - and if your credit file is already bad, a few more negative markers wouldn't make a massive difference.

No one can force you to pay anything and if you can't pay off the full amount Aqua will eventually just sell it on to a debt collector to chase you. Personally, if I was in financial difficulties I'd just make sure my priorities were being paid and put any left over money in a rainy day account, maybe making token payments of £1 a month to unsecured creditors. Maybe.

jimbo26

Sounds like Aqua took a gamble in accepting you, and have now realised you are too high risk for them.

How much do you owe them?