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Can Vanquis freeze my account?

(11 Posts)
Surfskatefamily Mon 17-Dec-18 09:53:35

Iv worked as a debt advisor in the past. You can contact and explain circumstances. They will ask you how much you can afford to pay. They will put your account into an arrangement which freezes it. Stops any more interest. It does show as in arrangement on your credit file. It will show as this until cleared where it will revert to settled. With most creditors you'll want to be a year clear of that for prime credit.

FrazzyAndFrumpled Mon 17-Dec-18 09:50:59

Great news smile

Maisey93 Mon 17-Dec-18 09:48:23

Just an update ladies. They have frozen it for 6 months where I will be able to review it and agreed to a payment plan of £30 per month which is just about what I can afford with frozen interest. Such a relief! x

OP’s posts: |
dementedpixie Sat 15-Dec-18 20:16:43

Their website says they can freeze it for up to 24 months but a monthly fee is added to the balance. See above link

You can freeze your account for up to 24 months if you experience certain life events. We have two plans.

The Full Plan is for people who are in full, part-time or temporary employment or self-employment.

The Standard Plan is for people who are homemakers, students, retired or not in employment.

You must tell us as soon as possible if your employment status changes so that we can make sure you’re on the right Plan.

billybagpuss Sat 15-Dec-18 20:14:28

They may agree to reduce the payments, may even be prepared to freeze interest but I doubt they will agree to a freeze on payments for several months. They need to know the debt is being reduced however small. Be prepared to offer something in the way of an amount that you can realistically afford.

Have you done an up to date list of your regular payments and income. If you have those figures to hand ie non negotiable payments like rent and council tax and then an allowance for food and baby then debts you will be in a better position to speak to them.

Good luck

dementedpixie Sat 15-Dec-18 20:12:20

Freeze - looks like you can freeze it but it will cost you about £30 A month and you need to call to activate it

Rosesareredvoiletsareblue Sat 15-Dec-18 20:09:42

I know my mum managed to get them to freeze interest on her vanquis card for I think 3/4 months but they couldn't not take a monthly payment so instead froze the interest and set up a monthly payment plan for an amount she could afford (lower than what the minimum payment would have been). This was a few years ago though, I think she's upped the payments since but it's still a set amount every month. Definitely get in touch with them first, they'll be more willing to help that way then if you miss any payments and try to sort it after the fact.

Maisey93 Sat 15-Dec-18 20:04:22

Planning to call the first thing Monday morning was just wondering if anyone had successfully had their account frozen by Vanquis before? I haven’t missed any payments yet.

OP’s posts: |
dementedpixie Sat 15-Dec-18 20:03:41

Best to speak to them. No-one here can tell you what they will or will not do

billybagpuss Sat 15-Dec-18 20:02:15

You need to get in touch, your credit rating will be much better if you take the initiative and call them rather than them having to chase you and take remedial action because they don't know whats going on.

Maisey93 Sat 15-Dec-18 19:59:59

Hi Ladies,

Hoping someone might know something about this? I’m 7 months pregnant and self employed. Due to the kind of work I do I have had to stop working now completely. I can claim Maternity Allowance which should start soon but I have £2500 on a Vanquis and I just can not afford the monthly payments until I start working again.

Might be worth saying I plan on/have to going back to work from when baby is 3 months old.

Does anyone know if Vanquis could freeze my account until I start working again?


OP’s posts: |

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