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Hi, I'm having a bit of a nightmare here with Vanquis. My credit limit is £1500 and the minimum payment each month is over £90. Each month I am barely able to make the minimum payment and when the interest and fees are all added I end up over limit by about £80.Each month my minimum payment is rising by about 10p, this has been happening for about the last 10 months and it's really difficult to pay as I'm not employed and each month it's getting worse and worse. Can someone please help me? I don't know what to do.

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Have you informed them of this situation and you struggling to meet minimum payments? You may be able to get a freeze of interest and charges and agree a repayment plan?

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I sent them a message on their website and it says they will get back to me in 2 days

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Have you stopped using the card ?


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Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

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2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Yeah I haven't used it since February

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Sadly if you are only paying the minimum amount and charges and interest are being added each month then it is not going to reduce very quickly.

 

I think you will need to write to them and ask them to cease adding this as you are no longer able to afford these payments.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Thanks for the help I'm posting a letter in the morning

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Hi,

I'm sorry to bother everyone again but I got a letter back from Vanquis today and I need some advice please. If you could email me at: ** EDIT ** I can send you a copy of the letter because I cant post it here :-(

 

 

If anyone could advise me on what I should do now I would greatly appreciate it.

Thanks :-)

Edited by citizenB
removing private email address

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I have taken your private email address out of the post above and sent you a private message.. :)


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Letter posted below...

 

 

Meanwhile the gist of the letter is that you have offered them a a reduced amount .. we will call that figure £A.

 

They have said that it doesnt meet their minimum requirements and have demanded a sum of £X which is double the amount you have offered. Even then they are advising they will only accept sum X for 3 months.

 

Plus they are demanding that you telephone them in order to "start the arrangement".

 

Neither the amount they are demanding or the contacting of them is acceptable to you.

 

I think perhaps a letter along the lines of.

 

Dear Sir,

 

I am in receipt of your letter dated XYZ.

 

I have made you aware of my financial circumstances and made an offer which is commensurate with my financial situation and is a percentage of my disposable income. Other creditors are accepting this and I am rather dissappointed by your response.

 

I must repeat my request for you to accept my offer of £A and to cease adding interest and charges until my circumstances improve.

 

I must also insist that you cease insisting I contact you by telephone. It is my legal right to conduct my financial business in writing and in the circumstances, I feel it is also in my interests to communicate in this manner in order that I have an accurate record of communication between us.

 

Yours faithfully,

 

PRINT or sign digitally.

 

 

HTH

Edited by citizenB

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Thank you :-)

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I have an account with vanquis, and if you come into financial difficulty you can freeze the interest and payments on your account for up to a year???

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its now upto 2 years look for my post regarding Vanquis Moorcroft

http://www.consumeractiongroup.co.uk/forum/showthread.php?371916-Vanquis-and-Moorcr*p(18-Viewing)-nbsp

 

:wink:


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