Vanquis Refund Historical Error

MaMpHiE2666

I have received a letter regarding an account that was closed over 10 years ago with Vanquis. It advised they had found a historical error with 'additional fees' and they were refunding them. Error amount approx £20 refund amount approx £200. The cheque has arrived (not cashed yet) I have tried calling Vanquis to get some more information as something doesn't sit right but they say they cannot discuss the account with me. Vanquis closed this account and sold it to a debt recovery company who I paid in full but it has left me wondering should it have ever been closed if the charges were incorrect and this impacted my credit score for a long time. Any advice on what to do next or has anyone else had a similar situation? Many Thanks in advance.

Hoenir

Accept the goodwill gesture and move on. You'll gain nothing further by pursuing the matter. As historical records need only be kept 6 years. 

Nasqueron

MaMpHiE2666 said:

I have received a letter regarding an account that was closed over 10 years ago with Vanquis. It advised they had found a historical error with 'additional fees' and they were refunding them. Error amount approx £20 refund amount approx £200. The cheque has arrived (not cashed yet) I have tried calling Vanquis to get some more information as something doesn't sit right but they say they cannot discuss the account with me. Vanquis closed this account and sold it to a debt recovery company who I paid in full but it has left me wondering should it have ever been closed if the charges were incorrect and this impacted my credit score for a long time. Any advice on what to do next or has anyone else had a similar situation? Many Thanks in advance.

Your credit score is not seen by or used by lenders, it's immaterial.

This is all long gone, you owed the money, you paid it back and they have now corrected a mistake. The 8% interest is the FOS approved compensation, you will not get more, just cash it and move on with this free money you weren't expecting. In a way you are lucky as they are allowed to offset compensation like this against unpaid debts, lost interest etc provided they can call back the debt from the collector (or if it was an inhouse firm)