Have you been contacted by Aqua regarding your credit card debt with them?
Has this made you uneasy and unsure what your next steps would be?
You are in the right place.
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Learning about how credit card companies work and the rules and regulations they enforce is incredibly important when dealing with your bailiffs and debt.
Many people who have never experienced debt before, along with people that have, have no clue where to even begin.
This guide will give you all the knowledge you need to know so that you don’t slip into persistent credit card debt and can reach financial stability!
Table of Content
- 1 Why is Aqua contacting me?
- 2 Should I pay Aqua the money I owe?
- 3 Should I ignore Aqua’s letters and calls?
- 4 Aqua’s contact details
- 5 How to make a complaint about Aqua
- 6 Does Aqua send debt collectors?
- 7 FAQ's
- 8 Final thoughts
- 9 Credit Card Debt Help Information
- 10 Other Debt Solutions
Why is Aqua contacting me?
If Aqua has contacted you, this will be because you owe them money.
In this case, you are required to pay back your credit card amount and have potentially not done this.
There are other debts the company might collect. Therefore, you must keep in contact with Aqua to know exactly where you stand and what you must deal with.
How do I stop them from contacting me?
It is incredibly difficult to get Aqua to stop contacting you altogether unless you completely pay off your credit card debt.
Aqua has a legal requirement to call or send letters to those with an underlying debt with the company.
If you feel overwhelmed by the contact Aqua is giving you, you can request for them to only call at certain times of the day and on certain platforms.
If you feel intimidated, you can also contact a money advice service for free debt advice.
Keep reading to find Aqua’s contact information.
Should I pay Aqua the money I owe?
If the debt is in your name, you are liable to pay.
When you can afford your debt, you should pay the amount owed.
It is important to check that the debt is yours, though, as some cases have shown that debt collecting companies have designated the payments to the wrong names or the incorrect amount.
Proof of debt
You should always request proof of debt from Aqua to show that you actually owe money to the company and how much you do owe.
If Aqua, the credit card provider, can not or simply refuses to provide evidence to show the debt is yours and the amount needed- you will not have to pay a penny.
If they send you the documents showing proof of debt, you are legally required to pay the credit card debt.
What if I miss a payment?
When you miss a minimum repayment for your credit card, or you go over your credit limit, you will be charged a fee of £12.
Credit reference agencies are always reported to once the payment has been missed, making it incredibly difficult for you to get any credit in the future as your credit file, and credit rating will be affected negatively.
With Aqua reporting your missed payments, this will show on your credit history for a long time, which you should be aware of as it can cause a real detrimental effect on how much interest rates change for you and every other part of your credit combined.
What if I can’t afford to pay?
You are not alone if you cannot afford to pay your debt with Aqua.
Many people also face financial struggles and individual circumstances, and all need some support with coping and paying off the amount they owe.
If you are in this position, you should talk to an adviser and find some free advice to help you understand your options.
In some cases, people in a financial position like this will need a plan to escape to become debt free. Here are some of the debt management plan options that Aqua might be able to give you:
- Pause your payment- this is usually given when you are in a temporary situation limiting you from money.
- Repayment plans- making payments over a fixed period.
- IVA or Scottish Trust Deed.
These choices to paying your debt will be available to you once you discuss them with the company your circumstance. Aqua should be understanding and want to help you to get to pay.
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What if I can only afford the minimum payment?
If you can only afford to make the minimum payment, you should keep paying this.
If you can increase your payments slightly in a few months, this would be advised.
If you are in a long-term plan of only paying the minimum payments, you could exchange your debt in a balance transfer to an aqua card that charges less interest or gets a loan that charges less interest than your Aqua credit card.
One important tip would be to ensure that if you are getting a loan, check that it is not secured onto your home, as this could risk losing your home.
Another point to make- only use this loan to spend on your debt, not on random payments.
Can I get rid of my debt without paying it?
Technically, you can get rid of your debt without paying it. However, we would not recommend this at all.
This would involve the hope of your limitation period expiring before the Aqua card company. However, a debt collection agency will likely catch up to you, or Aqua will take you to court for not making any payments and potentially suing you.
Attempting to get rid of your debt this way is a massive risk.
Some people have spoken about bankruptcy as a way to get out of your debt without paying, yet this will cost you more in the long run.
Bankruptcy will create a massive downfall in your credit rating, lasting much longer than usual (normally around ten years). It will make any future lenders turn you away. Always consider substitute debt solutions first.
Being turned away from lenders can make you pay more than you would want to pay originally if you are looking at making a large payment, such as buying a house or car.
Continue reading our informative article to find out how to file a complaint against Aqua.
Should I ignore Aqua’s letters and calls?
Ignoring Aqua’s attempt to contact you would not be advised at all.
Acting as if the debt with Aqua does not exist will not improve the debt; it will only worsen it as the company will be convinced that you can not pay the debt, so they might be persuaded to take court action.
Aqua can add extra charges, fees, and interest to your debt the longer you ignore them.
They can also:
- Enforce a County Court Judgement.
- Send bailiffs to recover goods that equate to the debt.
- Apply for attachment of charging or earnings order.
Aqua’s contact details
You can contact Aqua via the following methods:
- Online – Log in to your Aqua online account.
- App – Log in to your Aqua app.
- By post – Aqua Customer Services, PO BOX 173, Sheffield, S98 1JW.
- By phone – 03332202691
Aqua are open from Monday to Friday, 9 AM to 7 PM, and on Saturdays, 9 AM to 4 PM.
How to make a complaint about Aqua
You can file a complaint about Aqua via the following methods:
- By post – Complaints Department, PO Box 700, Leeds, LS99 2BD.
- By phone – 03332202691
If you are unhappy with how Aqua handled your complaint, you can escalate your dispute to the Financial Ombudsman Service, FOS.
- By email – [email protected]
- By post – Financial Ombudsman Service, Exchange Tower, London, E14 9SR.
- By phone – 08000234567
Does Aqua send debt collectors?
You can expect to have debt collectors chasing you up on payments if you are not paying your credit card debt.
Aqua has its own debt collectors that are legitimate, being authorised and regulated by the Financial Conduct Authority (FCA) in England and Wales.
Being legitimate with both debt collectors and the company as a whole, the Payment Services Regulations shows that for the provision of the payments, Aqua is a trademark of NewDay Cards ltd.
What happens if I let my credit card go to a debt collector?
Once your credit card goes to a debt collector you should expect some hassle.
Debt collectors are known to chase payments up excessively and charge fees for each attempt to chase.
This would mean that the price of your debt would also be rising.
Will my credit score be impacted while repaying debt?
Your credit score will be impacted by your debt, however, it may not be so incredibly affected when you are in repaying it.
Keeping up with your monthly payments makes your credit score sturdy.
When late payments are made, these will stay on your credit file for around 7 years.
Can Aqua take me to court?
You can be taken to court by Aqua if you are not repaying your credit card.
When you do not pay your debts, the company can sue you.
Without paying off your credit card, you should expect to face some consequences with debt.
Debt is not an experience anybody wants to be in, so keeping on top of all your payments is exactly what you need to do to stop any stress.
With this article, we should have given you some useful tips to benefit you in the long run.
Contact a professional debt help charity for the best advice on managing your money and staying away from persistent debt.
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