Managing your Loans account

 

Vanquis is working to support our customers as the economy and country are affected by Coronavirus (COVID-19).

Vanquis Loan Payment Freeze

If you’ve been affected by coronavirus you may be able to use a Vanquis Loan payment freeze and won’t need to make your usual payments for up to three months. You won’t pay any additional interest during the freeze, the total amount you will have to pay under your Agreement will remain unchanged. We'll make sure the payment freeze isn’t treated as a missed payment by credit reference agencies.

 

If you’ve missed your most recent payment because you’ve been affected by coronavirus you’ll still be able to apply for a Vanquis payment freeze. We’ll count your missed payment as one of the three frozen payments.

 

Is a payment freeze the best option for me?

A payment freeze is only suitable if your financial situation has been temporarily affected as a result of coronavirus. It is not intended to be used if you are experiencing longer term financial difficulty or if this is unrelated to coronavirus.

 

To help you decide if this is the right option for you may wish to use the Money Navigator Tool or obtain free independent advice from the Money Advice Service. You can also find helpful information on the FCA ‘Dealing with financial difficulties during the coronavirus pandemic’.

 

You can apply for a payment freeze up to the 31st October 2020. You can do this by TEXT or PHONE using the details below.

 

For further information see our FAQs at the bottom of this page.

 

What happens at the end of the payment freeze?

  • We’ll be in touch again before your payment freeze ends to remind you that you’ll need to make your normal contractual monthly payments again.
  • Your Continuous Payment Arrangement (CPA) may have been cancelled when you applied for a payment freeze. You may need to call us to set up a new one on 0333 003 5803*

We're here to help

If you have previously had a payment freeze and this is coming to an end or ended and you still need further assistance please contact us using the details shown below.

 

If you are experiencing financial difficulty because of coronavirus

If your payment is due in the next 7 days and you’re concerned that you may not be able to pay, please either TEXT or PHONE using the details below.

 

Need to contact us?

 

Please only contact us if your enquiry is urgent, alternatively if you do need to contact us please use the TEXT option if you can.

 

TEXT: you can send an SMS to 07860 031 011 and we will get back to you as soon as we can. If you send an SMS please include your date of birth (DD/MM/YYYY) so we know it’s you.

 

PHONE: 0333 003 5804*

 

Due to the coronavirus pandemic we’ve fewer colleagues than usual to take your call and we have had to adjust our telephony opening times.

 

TEXT: You can TEXT us during these hours: Monday to Friday, including Bank Holidays: 8am to 8pm, Saturday: 9am to 5pm.

 

PHONE: Monday to Friday: 9am to 5pm, closed weekends and Bank Holidays.

 

How can I make my monthly loan payment?

In this challenging time, we want to help you as quickly as possible. Our phone lines are busier than usual, so we recommend making your monthly loan payment by bank transfer instead.

To do this, you need:

  1. Our sortcode: 56-00-36
  2. Our account number: 38788713
  3. Your Loan ID (a 12-digit reference number)

 

I don't know my loan reference number

Don’t worry, you can still find your Loan ID in one of the following ways:

  • Search your email inbox for “Vanquis Loans”. Your initial email from us includes your Loan ID
  • Check any letters received from Vanquis Loans. Your Loan ID is located near the letter header.
  • To receive your Loan ID by SMS, please text:
  • Your "REF ID" and
  • Your date of birth (DD/MM/YYYY)

to 07860 031 011. We will reply with your 12-digit Loan ID.

 

*Lines are open 9am - 5pm Monday to Friday, closed on Saturday and Sunday. Calls to 01 and 03 numbers from UK landlines and mobiles are normally included in free plan minutes if available; otherwise calls to 03 numbers cost the same as calls to 01/02 prefix numbers.

 

 

COVID-19 Loans FAQs

What is a Vanquis loan payment freeze & am I eligible?

If you’re experiencing temporary financial difficulty as a result of Coronavirus, you can ask for a payment freeze. If we give you this payment freeze, you won’t need to make the usual payments to your card for up to 3 months. If you've got a missed payment on your account, we'll count that as one of the three frozen payments.

Is a payment freeze the best option for me?

A payment freeze is only suitable if your financial situation has been temporarily affected as a result of coronavirus. It is not intended to be used if you are experiencing longer term financial difficulty or if this is unrelated to coronavirus.

 

To help you decide if this is the right option for you may wish to use the Money Navigator Tool or obtain free independent advice from the Money Advice Service. You can also find helpful information on the FCA ‘Dealing with financial difficulties during the coronavirus pandemic’.

How do I request a Payment Freeze?

You can:

  • TEXT -Please text us your Date of Birth (DD/MM/YYYY) and a brief summary of your circumstances to 07860 031 011 and our support teams will be in contact shortly after.
  • CALL -0333 003 5804* - please be aware that our call wait times might be much longer than normal.

We will write to you at your address to confirm when you payment freeze has been set up.

Will I get charged interest during the payment freeze?

You will not be required to pay any additional interest during the freeze. The total amount you will have to pay under your Agreement will remain unchanged.

Will a Payment Freeze impact my credit score?

The payment freeze won‘t be reported to credit reference agencies. However, lenders may take into account other information on your credit file when making future lending decisions including, for example, information provided on credit applications or bank account information.

Can I still make payments while I am on a payment freeze?

Yes, if you can afford to, you can still make payments (of any amount) at any time during the payment freeze. If you notify us of your intention to make payments prior to making them they will help reduce the amount of interest you’re charged.

I have an automatic method of payment set up, do I have to do anything?

If you have an automatic payment set up such as a Continuous Payment Arrangement (CPA) or Standing Order here is what to do:

  • CPA:If you pay by CPA, there is no need to cancel it, we will simply resume collecting your payments once the freeze period is over, you don’t need to do anything.
  • Standing Order:If you pay by Standing Order, you will need to contact your bank to cancel your payments.

How will I know when the payment freeze period is coming to an end?

We’ll be in touch again before your payment freeze ends to remind you when you’ll need to make your contractual monthly payments again.

What happens if I still can’t make my payments after the payment freeze period has ended?

If your circumstances change during the payment freeze period, please contact us to see what options we have available to support you.

 

If you are still experiencing financial difficulty at the end of the payment freeze then there are other options we can look into to provide you further support. Vanquis can offer additional arrangements to help support the management of your account but this will be reflected on your credit file. Please contact us to see what options we have available to you.