Vanquis/Lowell - Urgent

[osophi]

Dear all,

I defaulted on my credit card with vanquis and have since not been able to settle. I am actually not paying and haven't since July 2016. This remained on my file until I think Dec 2017 when I realised it has been removed but then Lowell has now bought the debt. This is still not showing on Equifax and clear score. I plan to start paying with Lowell online once I submit a expenses form to say how much I can afford monthly.


1. Will doing this show on my file i.e. a whole can of worms?
2. If I don't pay or ignore Lowell where does that leave me and my credit worthiness?

[osophi]

Hello,

I should be really grateful for you help.

regards

[warwick65]

Hi

Just a couple of questions that may add context so people can advise
1) When was the card opened?
2) When was it initially defaulted?
3) Roughly how much is the balance
4) Did you pay any of that crappy ROI or whatever its called and if so have you reclaimed it

https://debtcamel.co.uk/vanquis-rop-refund/

Debt Camel

[jaguarsuk]

Hi


4) Did you pay any of that crappy ROI?

I believe Warwick means PPI, did you have Payment Protection Insurance?

[warwick65]

I believe Warwick means PPI, did you have Payment Protection Insurance?

Actually I meant ROP as referred to in the link I provided. Vanquis are supposed to be making restitution to consumers who were missed this
DebtCamel is your woman for that

[Debt Camel]

1. Will doing this show on my file i.e. a whole can of worms?
2. If I don't pay or ignore Lowell where does that leave me and my credit worthiness?

1. yes, Lowell should add a credit record for the debt. It should have the same default date as the Vanquis one did. And the Vanquis debt should show with a balance if zero.

2. oddly paying or not paying won't make any difference to your credit score, but if you don't pay you are likely to be taken to court at some point for a CCJ.

If you can answers Warwick's 4 questions we will be able to say more.