Vanquis account sold to a debt collection agency

Hello, just wondered if anybody else has had there Vanquis Credit Card account sold to a debt collection agency without any notice?
Had a payment plan with Vanquis since Jan 2022 for the sum of £1500. Was paying £43 and as of Dec 22 I upped the payment to £100 has I could afford too. I also paid an extra £200 last month because had some free cash. My balance was then down to £434 as of June 2023. My Vanquis App wasn't working so yesterday my payment date was due so I phoned them for help. This is when they told me that my account had been sold to a debt Collection Agency. Just for the record i had  not missed a payment. 
Vanquis said there had sent a letter out but as of yet I've had nothing.
I just think they should of contacted me before doing this to revise the account.
If this as happened to anybody else how do you feel about the situation?
Thanks...

Comments

  • MorningcoffeeIV
    MorningcoffeeIV Posts: 1,946 Forumite
    First Anniversary First Post Name Dropper
    edited 29 July 2023 at 9:05AM
    Yes, it happens to others. 

    Your letter will have gone astray. It happens sometimes. Some people will feel aggrieved, some will accept that the postal system isn't always perfect.
  • fatbelly
    fatbelly Posts: 20,431 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    It's been sold to a debt buyer. Is it Lowell?
  • johnboy13
    johnboy13 Posts: 32 Forumite
    First Anniversary First Post
    Yes, it happens to others. 

    Your letter will have gone astray. It happens sometimes. Some people will feel aggrieved, some will accept that the postal system isn't always perfect.
    Yes, it happens to others. 

    Your letter will have gone astray. It happens sometimes. Some people will feel aggrieved, some will accept that the postal system isn't always perfect.
    The point is, why wasn't I notified before, the terms and conditions quotes...

    "This installment payment plan is subject to periodic reviews in order to assess your continued affordability. In addition to this review, Vanquis may decide that it is beneficial for your account to be assigned to a third party specialising in long term payment plans. In such cases, you will be contacted to advise on the assigment"

    No be contacted me about a review on my continued affordability, so how can there decide that's it beneficial. 
    On June 8th I contacted them to ask if I could remove the plan because I was no longer in tinical difficulties. They just said no and stated that once the plan had finished your account would get closed. No mentions of reviews or selling my account.
  • johnboy13
    johnboy13 Posts: 32 Forumite
    First Anniversary First Post
    fatbelly said:
    It's been sold to a debt buyer. Is it Lowell?
    No, NCO Europe...
  • johnboy13 said:
    Yes, it happens to others. 

    Your letter will have gone astray. It happens sometimes. Some people will feel aggrieved, some will accept that the postal system isn't always perfect.
    Yes, it happens to others. 

    Your letter will have gone astray. It happens sometimes. Some people will feel aggrieved, some will accept that the postal system isn't always perfect.
    The point is, why wasn't I notified before.

    Because the letter went astray.

    They sent the notification, but they don't phone everyone up to make sure they've received it.
  • nic_c
    nic_c Posts: 2,928 Forumite
    Name Dropper First Post First Anniversary
    johnboy13 said:
    Yes, it happens to others. 

    Your letter will have gone astray. It happens sometimes. Some people will feel aggrieved, some will accept that the postal system isn't always perfect.
    Yes, it happens to others. 

    Your letter will have gone astray. It happens sometimes. Some people will feel aggrieved, some will accept that the postal system isn't always perfect.
    The point is, why wasn't I notified before, the terms and conditions quotes...

    "This installment payment plan is subject to periodic reviews in order to assess your continued affordability. In addition to this review, Vanquis may decide that it is beneficial for your account to be assigned to a third party specialising in long term payment plans. In such cases, you will be contacted to advise on the assigment"

    No be contacted me about a review on my continued affordability, so how can there decide that's it beneficial. 
    On June 8th I contacted them to ask if I could remove the plan because I was no longer in tinical difficulties. They just said no and stated that once the plan had finished your account would get closed. No mentions of reviews or selling my account.
    A payment arrangement is an alternative to defaulting an account, but companies such as Vanquis will have a policy of seeing the debts on after a certain length of time. the fact you were paying probably means you were included with other paying customers in a sale that makes it more attractive to debt buyers.

    Whoever you spoke to will have been unaware of it being sold, but you can't go back to a normal account as you'd broken the original contract so that was no longer valid. As to Notice of Assignment, you probably haven't got it yet as it's often sent by the debt purchaser along side their notice.

    Save the money you normally pay and once you are contacted you might have enough to clear the debt if it's now just a few hundred pounds.
  • PaulW922
    PaulW922 Posts: 1,037 Forumite
    First Post First Anniversary Combo Breaker
    Given the amount you now owe is quite low you could work this to your advantage and offer a reduced amount for early settlement? You can usually offer a discounted amount - they may accept or come back with something higher but if you can afford to settle it’s worth a try 
  • adamp87
    adamp87 Posts: 862 Forumite
    First Anniversary First Post Name Dropper
    They’ve perhaps made a mistake here I’ve they’ve sold the account and not given you notice of default and defaulted the account but for the figure that’s by the by perhaps

    NCO will have brought the debt for pennies (probably will own it but ask another company, Arrows to chase it 

    I’d offer them a reduced amount for full and final settlement ensuring they confirm this in writing too and get the debt cleared.


  • johnboy13
    johnboy13 Posts: 32 Forumite
    First Anniversary First Post
    Thanks for your replies... I ended up paying it in full, as I didn't want partially settled on my report.
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