Shop Direct Finance (Littlewoods/Very etc) Robbing the poor

djpleasure

In recent months a few characters were sent to prison....loan sharks charging excessive interest, next in the dock should be Shop Direct Finance (Littlewoods/Very etc), we are in recession, people struggle to make ends meet, so this group up the interest rates yet again. When we first started shopping at lxdirect, interest was reasonable. We was hit with an intyerst hike recently, so stopped any further purchases, vowed to pay it off and then close account. Paying it off is extremely difficult now, direct debit is 40/9% variable, but we can only pay by internet bank transfer, so we are charged a massive 44.9%, making our purchases nearly double.

Is it not about time the government stepped in to stop these companies profitteering like this? pushing people into debt?

Is there anything people can do about this latest interest hike?
When we joined we was sent an agreement to send back.....we did not send it back signed, does this make a difference?

At the current rate we are never going to clear our debt, we end just clearing interest as opposed to balance.

yes we have learnt, avoid mail order catalogues, but seriously want out of this nightmare

tasha-debt

Hi,

When did you open the catalogue? Was it before April 2006?

clarence83_2

I have an account with Empire (also part of SDG) and I can't see how I could pay interest at all (forgive me if i am making some kind of mistake here).

All the items of clothing seem to have 20 weeks at 0% interest free. Pricier items up to 1 yr interest free etc.

It's either that or pay upfront by debit card.

When would you start paying 40% interest???

djpleasure

clarence83 wrote: »

I have an account with Empire (also part of SDG) and I can't see how I could pay interest at all (forgive me if i am making some kind of mistake here).

All the items of clothing seem to have 20 weeks at 0% interest free. Pricier items up to 1 yr interest free etc.

It's either that or pay upfront by debit card.

When would you start paying 40% interest???

letter came through today, effective from 23/10/2009

this effects flexible accounts

Ames

It's really important to know when the debt was taken out.

chigley

Get your own back - don't shop with catalogue companies......

Simples

djpleasure

chigley wrote: »

Get your own back - don't shop with catalogue companies......

Simples

agreed, but that dont help clear the debt. we have stopped any future purchases.

The debt was incurred over a couple of years, buying this and that, had the interst rate been so high, we would not have purchased

Sarah_wants_2b_debt_free

I have a catalogue account with them taken out prior to April 2006. What does this mean. I too have had a letter today from very informing me if an interest hike

nikki30

I agree with Clarence83, I shop with both Littlewoods & Empire and I never pay any interest on anything I order as I spread the payments over 20 weeks on things like clothing and 52 weeks on bigger items like Televisions and furniture.

I think that is the same with Kays, Great Universal and Choice which I believe are also part of the same company?

hariboh

Littlewoods extra/lx direct/very do charge interest there is a 3 month interest free period but once you have passed that the interest is enormous!!

A few of the other posters on here have asked when the account was opened??

The reason being if it was before April 2006 they probably dont have a true copy of a signed CCA, which makes the debt un-enforcable, which seems to be happening with me.

I wrote to them and sent the £1 cheque and they wrote back saying they dont have a signed copy of a CCA, but did send me terms and conditions:rolleyes:

The phone calls have all stopped and there is no interest on my Statement every month;)

I have sent the next letter in the process and i am awaiting a reply, if not satisfied then I will report them.

djpleasure

hariboh wrote: »

Littlewoods extra/lx direct/very do charge interest there is a 3 month interest free period but once you have passed that the interest is enormous!!

A few of the other posters on here have asked when the account was opened??

The reason being if it was before April 2006 they probably dont have a true copy of a signed CCA, which makes the debt un-enforcable, which seems to be happening with me.

I wrote to them and sent the £1 cheque and they wrote back saying they dont have a signed copy of a CCA, but did send me terms and conditions:rolleyes:

The phone calls have all stopped and there is no interest on my Statement every month;)

I have sent the next letter in the process and i am awaiting a reply, if not satisfied then I will report them.

Haribo, can you tell me more about this, as I may follow suite, explain the £1 cheque and the procedure, where to wriite etc, thanks in advance