Help with vanquis / Lowell

[Rlp]

I had a credit card with vanquis which according to noddle was taken out on the 8/8/2007

 

After a few years of having this card I could no longer afford to pay the high interest and balance.

 

According to noddle I was defaulted on 31/10/2011, noddle also states the defualt amount was £487 but it now states I owe over £2500, could someone explain to me how this is?

 

What would be the best way to deal with this or what are my options?

 

Thanks to anyone who reads or responds.

[silverfox1961]

Hi

The default amount shown is the anount WITHOUT charges added. The current balance is what is owed plus the added charges. You can get these charges removed but as you have not paud the charges, you won't receive a refund.

 

You say the debt is now with Lowell. Have they bought the account? Are they acting for vanquis? This should show in the letters sent by them.

 

As this account was taken out after April 2007, they no longer have to prove that you agreed to the account (that was just for info)

 

Have you thought of a Full and Final settlement (if you can afford it)

[SabreSheep]

I would also bet there is a few years of late payment charges and overlimit charges on that account.

 

A SAR would help you evaluate these.

 

You could then try and sue for those charges back PLUS interest in restitution.

[Rlp]

Hi

The default amount shown is the anount WITHOUT charges added. The current balance is what is owed plus the added charges. You can get these charges removed but as you have not paud the charges, you won't receive a refund.

 

You say the debt is now with Lowell. Have they bought the account? Are they acting for vanquis? This should show in the letters sent by them.

 

As this account was taken out after April 2007, they no longer have to prove that you agreed to the account (that was just for info)

 

Have you thought of a Full and Final settlement (if you can afford it)

 

Lowell have the account now but I've also being chased by all the usual vanquis suspects.

How much would you say is a full and final settlement?

As my account was taken out after april 2007, is it right with me thinking it's not worth me putting in a CCA request?

 

I would also bet there is a few years of late payment charges and overlimit charges on that account.

 

A SAR would help you evaluate these.

 

You could then try and sue for those charges back PLUS interest in restitution.

 

I may look in to this, if I did this it could be possible I owe them nothing.

 

Thanks for the replies.

[silverfox1961]

With any full and final you offer a % of what the debt is without the charges. I would start at 10% with an upper figure in mind (say, 30%)

 

IF you have paid any of the charges then yes, you could get them back however if there has been no payment to the debt nor the charges then all you can hope for is removal of the charges but the debt amount stays the same.

[Rlp]

With any full and final you offer a % of what the debt is without the charges. I would start at 10% with an upper figure in mind (say, 30%)

 

IF you have paid any of the charges then yes, you could get them back however if there has been no payment to the debt nor the charges then all you can hope for is removal of the charges but the debt amount stays the same.

 

So you believe my debt amount minus all charges is possibly £487 as this was my default amount, so i should make a 10% offer of £48.70 and go from there?

 

Thanks for the help.

[mikeymack2002]

You may also want to check out if Vanquis added their Repayment Option Plan (ROP) to the account as well and check to see how much was added if you did not ask for it to be included (miss sold) the reclaim it all it may wipe out most of the balance due.

 

 

I sorted one of these out a few years ago I offered a low F&F it was accepted and the debt ended. This was after I told Lowell I would be reclaiming all of the fees and ROP as well, it worked for me maybe you will have luck too