Vanquis credit card repayment option plan question (Their version of PPI)

[hayleyg23]

When i took out my Vanquis card i was in full time employment and i do vaguely remember the advisor talking about the repayment option plan so i don't really have an issue with this.

What i have an issue with is in July last year i was diagnosed with a chronic illness and as such had to leave my job. Since then i have been on benefits. When i became unemployed, i wrote to vanquis outlining my situation and asking to go on a repayment plan to which they agreed to at around £7 a month.

However, i have been paying this regularly by standing order, but i am shocked to log into my online account to find the balance has increased from around £300 to around £400?? They have been regularly adding charges on to my account, even though i have been on a payment plan! surely this is what the 'repayment option plan' is designed for, to stop them doing this when you become unemployed due to a disability??

They are fully aware of my situation and i sent evidence etc. What can i do about this? I have sent a Subject access request to them and i plan to reclaim the unfair charges on grounds of hardship and the fact i am on a repayment plan!

I wanted to know whether i can claim back any repayment option plan fees because quite simply it has not done what i paid for in the first place.

Any advice greatly appreciated
Hayley

[Bill-K]

Re: Vanquis credit card repayment option plan question (Their version of PPI)

Hi Hayley, and welcome to you.

I'm not sure, but it looks to me as though you have not actually claimed via your PPI - or 'Repayment Option plan.' This would normally entail you filling in a form or questionnaire about your claim. They would then evaluate this, and - hopefully - pay your card repayments from this.

What you seem to have done is get Vanquis to agree to reduced payments due to hardship - and this means you will not have had the benefit of your PPI. I'm sure Vanquis will argue that you failed to submit a formal claim under your PPI policy - but whoever advised you should have asked you the right questions. They don't seem to have done this. Try and get transcripts or recordings of telephone convo's - that would help.

The bottom line is - as far as I can see - that you made your position clear to them, and they failed to properly advise you of your options. You may now need to quietly gather the evidence you need. Play the innocent, and do not let them know you are 'on their case.'

[hayleyg23]

Re: Vanquis credit card repayment option plan question (Their version of PPI)

Great thank you, yes i made them fully aware. This was all done via written communication. So if i have the appropriate evidence then what are my next options?

Many thanks
Hayley

[Bill-K]

Re: Vanquis credit card repayment option plan question (Their version of PPI)

That depends on what evidence you have, I guess. If you were badly advised when you told Vanquis of your situation, then you may be able to claim under the PPI policy, and have the account put back to the way it should have been if you were able to claim under the PPI. This would probably negate all the charges made, along with a lot of the interest. Alternatively, you might want to consider just completely reclaiming all the PPI you have paid, as it appears to have been mis-sold. Whichever of these two options would give the best result. A third option might be to claim under the PPI policy first, and if that is enough to pay off the balance, then reclaim the PPI as well. This option would be worth considering IF the amount needed to clear the balance is less than the total PPI you could have reclaimed - if you see what I mean ? !!!

Another option, depending on what evidence you have, is that you appear to have been given the impression that account interest would be frozen, when it actually wasn't. If you have evidence that shows you were misled by the advisor, then this would be another avenue to pursue. You certainly seem to have been badly advised, in any event.