Kays Catalogue - HELP!!!

littlepinkstars44

Ok, so i have a reduced payment plan on my account to pay £24 a month.
I got paid and got my student loan in on Friday, so i phoned up to pay my £24 to be informed that i never paid last month?!
I was pretty sure i did, but then again it's me i always forget things!
So i am told i need to pay £30 this month, so thats fine i pay £30!
So i just checked my account online there to make sure that payment went through ok, and it says the following:

Credit limit
£250.00
Available to spend
£38.69*
Minimum payment to reach us by 29/11/2008
£33.00
Minimum interest free payment to reach us by 29/11/2008
£211.31
Balance
£211.31

which is fine, then i check transaction history to make sure my payment has went through and it says:

Balance b/f from last statement
212.13
Payments we've received
07/11/08
Payment Received - Thank You 30.
Items
28/10/08 Debt Collection Letter Fee 12.00
08/11/08 Insufficient Minimum Payment Fee 12.00
08/11/08 Interest 5.18
Closing Balance
211.31

What is a debt collection letter? And an Insufficient Minimum Payment Fee?
I am so scared right now, i'm only 21! What is this all about?!
Please help!

tealady

Hi It means you did not make the minimum payment as per the agreement (ie £33) so they are charging you for it. Catalogues can be one of the most expensive ways of buying things so please always pay at least the minimum payment (or preferably more) each month or you will get stung.

littlepinkstars44

I have just checked my account online and i did make a payment last month!

15 Oct 2008POS8396 14OCT08 0000 , KAYS , NETHERTON- 24.00

RAS

OK

So ring up your bank and check the account number to which the £24 was paid, then write a formal complaint to Kay's. with a copy of the on-line account transaction report, and details of the account number into which the money was paid.

Then demand that they remove the late payment fees and compensate you for the waste of time sorting it out.

Also ensure that they remove any adverse report on your creidt record.

littlepinkstars44

oops my mistake it was Additions i never paid last month not kays!
And i wonder why at 21 i'm in so much debt, have a terrible credit rating and can never remember when my college work is due in!

LilacPixie

LPS

Get yourself a A5 diary. when bills assignmetns come in mark the date they are due into your diary. When you pay/hand in score them out.

Its the only way I can get organised

littlepinkstars44

LilacPixie wrote: »

LPS

Get yourself a A5 diary. when bills assignmetns come in mark the date they are due into your diary. When you pay/hand in score them out.

Its the only way I can get organised

thanks, i will!

tealady

Hi If you can set up a direct debit each month for the minimum payment. If you set it to be payed a few days before the due date then you won't forget. You then then make extra payments when you have some spare cash.
That's why most of my bills are on standing order or DD as I have the attention span of a house plant.

Burlesque_Babe

hi - one thig to do is really make use of online banking - check daily to see what is going out and you'll start to learn the pattern of the regular direct debits. I check my account daily just to make sure there is nothing I've forgotten about coming out.

littlepinkstars44

tealady wrote: »

Hi If you can set up a direct debit each month for the minimum payment. If you set it to be payed a few days before the due date then you won't forget. You then then make extra payments when you have some spare cash.
That's why most of my bills are on standing order or DD as I have the attention span of a house plant.

I would but i get paid a different day everymonth!

Jesthar

littlepinkstars44 wrote: »

I would but i get paid a different day everymonth!

Hi star,

That's not really what tealady meant - she suggested you set up a standing order or Direct debit for the minimum amount to be paid a few days before the payment on the catalogue is due (I'd suggest Standing Order, as YOU are in control of this). That way you KNOW both how much is going out and what it will cost you each month, and can budget accordingly. If you do this for all your debts you don't have to worry about any of them not going out on time, and you will always know how much and when they will be paid. You wouldn't BELIEVE what a difference this certainly can make to your finance planning, and you'll also not get stung with any more late fees!

If you really can't afford to do this for all your debts yet (you could go overdrawn or something) at least try doing it for some of them, preferably the priority ones and then the ones which would cost you the most if you missed them.

Burlesque Babe also has a very good point about using online banking if you can, it can really help you keep on top of things, and you can make payments and change standing orders whenever you need/want to.

~Jes