Vanquis ROP payments

[emmalily74]

A few months ago after checking into my finances I noticed that I had ROP added to my Vanquis account. (its quite hard to see what it is from the statement.
As with other people I didn’t know that I had this on my account, but after speaking to Vanquis over the phone I have done so since June 2012, so nearly 4 years and apparently agreed to this. (must have cost me at least £2000 just in the ROP never mind interest.
I sent them a SAR requesting all correspondence and sent my £10 cheque in. They rang me soon after to tell me that I could just have a copy of the recording for free.
I have just listened to the recording which is of them ringing me to offer me this garbage. The call is 9 minutes long.

I refused the ROP twice during the phone call saying that I couldnt affords it and after a last ditch attempt the sales person offered it to me for 1p for 3 months and I finally said yes just to get her off the phone.

Obviously I forgot to cancel and only just realised I was paying it. I have life cover that would cover me in the event of unemployment, sickness etc, which I did say in the call so I don’t want or need this ROP.
Do I have a leg to stand on or do I have to accept being robbed of over £2000 for nothing in return?

[Kati]

Re: Vanquis ROP payments

It looks like you can OPT OUT of the plan any time you want to ... so firstly I think you should do that (https://www.vanquis.co.uk/credit-car...nt-option-plan):

A Summary of the Repayment Option Plan Costs

There are two levels of Plan:

• Full Plan if you are employed (full, part-time or temporary) or self-employed.
• Standard Plan if you are not working, are retired, are a homemaker or a student.

The Full Plan is charged at £1.29 per £100 (or 1.29% per month) of the monthly outstanding balance on your statement and the Standard Plan is charged at £1.19 per £100 (or 1.19% per month). So, as your balance changes, the monthly cost changes. The Plan Charges will be charged to your account and will reduce your available credit. This means you will have less credit available for other transactions.
Since the Full and Standard Plans are different, you must tell us if your circumstances change once you’ve opted-in, so that we can make sure you are on the right Plan.
How to opt-in to the Plan

You can opt-in to the Vanquis Repayment Option Plan at any time while you have a credit card agreement with us, and you can opt-out at any time. We will offer you the opportunity to opt-in to the Plan from time to time or you can call us to opt-in.

I'm not sure about reclaiming (although IMO it seems to be a lot like PPI), so it's got to be worth a try

tagging [MENTION=55034]nemesis45[/MENTION] [MENTION=332]EXC[/MENTION] xx

[charitynjw]

Re: Vanquis ROP payments

Hi emmalily74 & welcome to LB.

Does the ROP cover your payments (actually pay them) if you are ill, etc?

If not, imho it is a different product to PPI.

Without the benefit of hearing the recording it would be difficult to ascertain whether the product has been missold/misrepresented.

[emmalily74]

Re: Vanquis ROP payments

I have opted out now over the phone. Its just so frustrating, and my fault for taking it out, and also not remembering to cancel after 3 months. But then I guess that how they gt people to sign up!
I complained, then they sent me a letter saying that:
I had understood the plan
the script was followed
All additional information relating to the plan was correct and not misleading
you accepted the plan as a feature of your account
There was no pressure on you to accept the plan

The bottom one I would disagree, on the recording I said NO twice and said that I couldnt afford it. Then she said I could have it for 1 pence. I would say that that is a pressured sale?

[charitynjw]

Re: Vanquis ROP payments

Were you informed that the charge would be increased after x months?

[nemesis45]

Re: Vanquis ROP payments

I have opted out now over the phone. Its just so frustrating, and my fault for taking it out, and also not remembering to cancel after 3 months. But then I guess that how they gt people to sign up!
I complained, then they sent me a letter saying that:
I had understood the plan
the script was followed
All additional information relating to the plan was correct and not misleading
you accepted the plan as a feature of your account
There was no pressure on you to accept the plan

The bottom one I would disagree, on the recording I said NO twice and said that I couldnt afford it. Then she said I could have it for 1 pence. I would say that that is a pressured sale?

It's certainly worth a try Vanquis does seem to have a " variable" attitude to ROP reclaims.

nem

[emmalily74]

Re: Vanquis ROP payments

I think she just said that it was for 3 months for 1p.

[charitynjw]

Re: Vanquis ROP payments

I think she just said that it was for 3 months for 1p.

And after 3 months? (They claim to be working from a script).

[emmalily74]

Re: Vanquis ROP payments

I left the disk at work, I'll have to listen again tomorrow.
I was struggling at the time, I just had a look at my bank statements from the time, lots of missed direct debits and I also ended up selling my house.
It just annoys me that I agreed to it, it took me 9 minutes to do so tho. They just wouldn't take no for an answer.........