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  • #1

    Vanquis

    Looking for some advice please.

    My Mrs has a Vanquis CC and is getting into arrears with the charges etc. as her income has reduced lately. She is self employed and has the Repayment Option Plan which according to the blurb means you can freeze the A/C for up to 2 yrs with no affect on credit file etc if you have suffered a reduction in weekly income of 25% or more through loss or non-renewal of contracts or work.

    She phoned and they sent out the claim form BUT this states copies of ONE of the following must be supplied:

    JSA letter
    Bank statement showing JSA or income support payments
    Letter of termination on comapny headed paper outlining termination of contract
    Letter from accountant/sub contracting company - letter to conform loss of contract.

    The problem is that she doesn't have contracts, she works on ad-hoc work that has up until now provided a steady income but there are no contracts, she's not claiming JSA etc as the work should hopefully pick up again, but in the meantime we want to pay more urgent bills like the mortgage etc so a freeze on this would be good but she can't provide the docs they want.

    Anyone else come up against this issue ?

    Thx
    Tags: advice, apr, bank, bank statements, bills, cards, cca, charges, claim, con, council, council tax, cowboys, credit, financial, fine, freeze, help, holidays, income, legal, letter, loss, mat, money, mortgage, niddy, ppi, rac, rate, repayment, salary, small, small print, statements, tax, urgent, wrong
  • #2
    Re: Vanquis

    What an absolute waste of money. Have you read the small print, the terms? You "really" think they'll give 2yrs of payment holidays and report [0]'s? They don't - they sneak out of it after a while. They're a nightmare/cowboys to be polite!!!

    --> http://www.vanquis.co.uk/credit-card...nt-option-plan

    Why not forget paying "more" into your cheaper mortgage and pay the Vanquis off first if her score matters that much. In theory if you're managing the mortgage fine then the card would take priority based on a 35% + apr.

    I'd look to clear the card - maintain the mortgage. No need to pay more.

    If I've read it wrong and you mean you'll struggle to pay the basic mortgage then of course, ignore the above!!

    Vanquis, as with other PPI products aren't really ideal especially in a SE non contractual position. I suppose you'd have to argue the loss of income but the underwriters will auto assume she's reduced her hours voluntarily and reject the claim no doubt. So it'd be best to get as much proof of income for the last 6 months to help her claim. Bank statements might be accepted. Best check with Vanquis.

    Good luck
    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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    • #3
      Re: Vanquis

      Term 20.15 is what you need to clarify -> http://www.vanquis.co.uk/upload/lega...CCI_CCA_39.pdf

      that tells you that so long as you provide evidence you'll be fine. It does not specify what evidence so statements showing the salary reduction *should* suffice!

      Good luck - let us know how you get on.
      I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

      If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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      • #4
        Re: Vanquis

        Originally posted by Never-In-Doubt View Post
        Term 20.15 is what you need to clarify -> http://www.vanquis.co.uk/upload/lega...CCI_CCA_39.pdf

        that tells you that so long as you provide evidence you'll be fine. It does not specify what evidence so statements showing the salary reduction *should* suffice!

        Good luck - let us know how you get on.
        Hi Niddy,

        Thanks for your input.

        I'd seen that but 20.15 cites "difficult financial circumstances" which is covered by 20.17.8 which is in regard to self employed and that states again "through loss or non-renewal of contracts" which takes us back to my original post about needed "proof" i.e. letters of company paper which she can't provide.

        There must be a lot of self employed people who wouldn't be able provide this i.e. before our shop went bust we didn't have "contracts" we had walk in customers

        Unfortunately we aren't in a position to pay this off, we got it to build up her credit again but income slowed at the wrong time and it's built up due to charges when it couldn't be paid off in full one month and snowballed from there. Unfortunately at the moment, we must concentrate on Mortgage and council tax arrears first which is why a freeze from this mob would be handy.

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        • #5
          Re: Vanquis

          what we usually do for our clients, is write a letter that basically says, we can confirm the above named income will be or has been reduced to X amount per month. Something along those lines. Income protection firms are happy with this, so i dont see why they wouldnt be.
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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          • #6
            Re: Vanquis

            Fed up - just ask SX to do you an appropriate letter
            I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

            If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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            • #7
              Re: Vanquis

              Originally posted by Never-In-Doubt View Post
              Fed up - just ask SX to do you an appropriate letter

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