Very.co.uk account closed with debt left too pay, do I have too pay?

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  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
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    nic_c wrote: »
    The OP could pay now, or keep quiet and hope they get away with it. Assuming they are out of the interest free option and been charged at 39.9% APR we can wait for another post in a year or two saying they never realised it would double the price. Not sure if they also charge fees for recovery letters. T&C include so maybe a post once their credit file has been trashed??

    It doesn't take a lot to trash your credit file, but 6 years to fix it is a very long time, especially if you're trying to get a mortgage or a decent credit card a few years down the line and the only credit card you can get is one with a massive interest rate. The gain from not paying may be short term, but the pain it causes lingers for a loooong time.
  • nic_c
    nic_c Posts: 2,928 Forumite
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    POPPYOSCAR wrote: »
    Never having had one of these accounts myself, how do they work?

    If payments are not made would they not write chasing up payment?
    Usually, but they often quickly outsource to debt collectors and then sell on the debt. It's the reason apr is high because a lot of delinquent accounts that get sold on. It may be that the OP's account is closed as it's been sold on already.
  • swhite91
    swhite91 Posts: 10 Forumite
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    i was just about to ask, have you been paying the minimum payments? if not it will have been sold on by now to a debt collection agency and you will have a default on your credit files, i would have a look, surely you should have recieved letters about late payments etc?
    LBM 1st March 2017
    Debt at LBM £7500 😭
    Current Debt Total £6227.50
    "Didn't learn the first time, hopefully second time lucky!"
  • sourcrates
    sourcrates Posts: 28,887 Ambassador
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    Ladies and gents, although I love to read all this friendly banter between one another, can we try and keep the thread on track ?

    Thank you.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • sourcrates
    sourcrates Posts: 28,887 Ambassador
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    edited 10 March 2017 at 11:36PM
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    SourD wrote: »
    Sorry if this is in the wrong section, this is my first post.

    I purchased a PC via Buy Now Pay Later last June, having tried too access the account recently too find out which day specifically it needed too be paid by, I noticed the account is no longer in existence.

    How do I go about this, am I still liable too pay?

    Thanks,
    SD

    Yes is the short answer.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • connor08
    connor08 Posts: 92 Forumite
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    SourD wrote: »
    Sorry if this is in the wrong section, this is my first post.

    I purchased a PC via Buy Now Pay Later last June, having tried too access the account recently too find out which day specifically it needed too be paid by, I noticed the account is no longer in existence.

    How do I go about this, am I still liable too pay?

    Thanks,
    SD
    have you contacted very to discuss your account and if they still sending you letters if you don't pay it they can take your account to a debt collector and damage your credit rating in the process for something that they have done if your unhappy you can stil take them to the financial ombudsman once you have a final decision from them but you have to complain to the business first .
    hope I have helped
  • nic_c
    nic_c Posts: 2,928 Forumite
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    Not sure if the OP will be back as we didn't give them the reply they wanted.
  • SourD
    SourD Posts: 5 Forumite
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    Yes all payments have been kept up with over my other accounts with there head company, just this one has no history currently, they won't bother with it until June if I was too leave it. I will call them on Monday and ask them what I owe them.

    thanks for all replies.

    SourD
  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
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    SourD wrote: »
    Yes all payments have been kept up with over my other accounts with there head company, just this one has no history currently, they won't bother with it until June if I was too leave it. I will call them on Monday and ask them what I owe them.

    thanks for all replies.

    SourD

    Good plan, I'm sure they will be happy to help.

    BTW, the site's called 'MoneySavingExpert' because it's here to try to stop people from getting messed up financially, and to give support to those who are struggling with debt. It isn't here so that folk can pass on tips to others who just want to avoid paying their debts. Hope this helps!
  • VillageIdiot
    VillageIdiot Posts: 18 Forumite
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    SourD – please keep us informed about how you get on.

    I too have seen the “Very” adverts for computers, including their offer of 10% off, if you take out their credit card, and then their BNPL (Buy Now Pay Later) offer.

    Their T&Cs are well explained, and seem reasonable. (If you have about an hour to spare to wade through them!). Clause 6.12 explains where you stand.

    Very.co.uk is part of Shop Direct Group, one of the largest on-line retailers in the uk. (Wikipedia if you want to delve.)

    Just my two-pennyworth – pay them what you still owe them, to be sure to avoid any 39.9% APR, (Which to be fair, they do spell out in huge capital letters.) They have seen it all before, and operate in a field where they need to be geared for many customers defaulting.

    Has anyone else bought a computer, or similar, from Very.co.uk using their credit card and the 10%-off offer? Any comments?
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