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Hi

 

I have a cc with vanquis current balance 2400.

 

I pay 60 per month interest frozen and today they called me to go over my budget and renew my payment plan for another year.

 

I asked them whether they were open to full and final settlement offers and they said they were and intimated around 1k may be enough. They did state if I ring back and it's agreed at that time I would need to make the payment that day.

 

Has anybody else had experience of this with vanquis and if so, does the repayment level look ok (circa 40%) and are there any dangers of not getting the offer in writing etc?

 

Thanks!

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Hello welcome to CAG.

 

First things first STOP discussing this over the phone with them.

 

You need to keep EVERYTHING in writing and most definitely DO NOT accept or agree to anything off them until you have reclaimed everything you can from them.

 

Your I&E is private and is for your benefit, not theirs, and you tell them what you will pay, they don't dictate what they want from you.

 

How much of that total balance is their fees/charges?

 

Have you any PPI on there?

 

When did you take this card out and how?

 

They obviously know you're in financial difficulties otherwise they wouldn't have frozen the interest, but what they haven't told you is that this is a non priority debt, and as such can attract the legal token payment of £1 a month.

 

Is the £60 a month that they have told you to pay affordable?

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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sar time me thinks!!

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hello welcome to CAG.

 

First things first STOP discussing this over the phone with them.

 

You need to keep EVERYTHING in writing and most definitely DO NOT accept or agree to anything off them until you have reclaimed everything you can from them.

 

Your I&E is private and is for your benefit, not theirs, and you tell them what you will pay, they don't dictate what they want from you.

 

How much of that total balance is their fees/charges?

 

Have you any PPI on there?

 

When did you take this card out and how?

 

They obviously know you're in financial difficulties otherwise they wouldn't have frozen the interest, but what they haven't told you is that this is a non priority debt, and as such can attract the legal token payment of £1 a month.

 

Is the £60 a month that they have told you to pay affordable?

 

Hi

 

Thanks for the welcome :)

 

The card was taken around 2009 electronically. It has no PPI, I would say the balance has about 300 in fees and charges.

 

The 60 is quite manageable I just thought I would ask the question when they rang me about full and final but I shan't be talking to them over the phone any longer!!!

 

I don't really have a problem with the element of debt that isn't interest and charges as I incurred it, but heard good things about this forum so thought I would ask the question but no real ideas of the best way forward!

 

Thanks

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id be getting those charges removed

 

 

if they are offering £1k on a £2.4k bal

somethings a miss!!

 

 

have you all the statements>

 

 

cant see how you've run up £1400 of charges in 6yrs mind!

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites
id be getting those charges removed

 

 

if they are offering £1k on a £2.4k bal

somethings a miss!!

 

 

have you all the statements>

 

 

cant see how you've run up £1400 of charges in 6yrs mind!

 

 

dx

 

This has me confused! Current balance is 2400, they have indicated they would take 1000 in a full and final settlement and the account only started having issues a year so of the 2400 balance I think about 300 is fees and interest.

 

Thanks

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blimey id bite their hand off at that.

 

 

is a puzzler though!

 

 

and that was vanquish not a dca?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

or email

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites
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