Very - Buy Now Pay Later problem

Acousticare

I have just had my monthly statement from Very the new name for Littlewoods Direct. They have charged me £204.70 interest on a Buy Now Pay Later account. I phoned to ask why and was told that my last statement stated that the full amount was due to avoid interest (the amount on the account was £810.14) I had ignored it and consequently have been charged interest from day one!:mad:

Looking back at my statement from last month is states in bold that "

Items You Don't Need To Pay For Now (Including BNPL)

(Available to Spend has been reduced by any items marked '*')

* Previously Stated BNPL Items £820.14 - First Payment Due Feb 2010" and in small print
"The interest opt out period on your Buy Now Pay Later item(s) is due to expire on your

next statement. The full outstanding Buy Now Pay Later cash price is £820.14. To avoid
paying interest, please contact us to pay the cash price in full before 16/01/2010.If you
choose not to pay the cash price, the full outstanding amount including interest will

appearon your next Statement."

As you can see today is 22nd Jan and I have paid the account off in full, yet I have been charged £204.70 interest for being 6 days over! What's more all my previous statement say that the 1st payment is due in Feb 2010.

Beware if you have a BNPL account with Very or anyone else for that matter, check the small print.

If anyone has any advice on how to claim my money back I'd be extremely thankful.

Anihilator

No it says first payment is due in Feb.
Credit normally always takes first payment the month after it is advanced.

Its clearly your fault and you should have read it. Only idiots borrow money without knowing the terms in detail.

missymugwump

TROLL surely
Do not feed

isplumm

Acousticare wrote: »

I have just had my monthly statement from Very the new name for Littlewoods Direct. They have charged me £204.70 interest on a Buy Now Pay Later account. I phoned to ask why and was told that my last statement stated that the full amount was due to avoid interest (the amount on the account was £810.14) I had ignored it and consequently have been charged interest from day one!:mad:

Looking back at my statement from last month is states in bold that "

Items You Don't Need To Pay For Now (Including BNPL)

(Available to Spend has been reduced by any items marked '*')

* Previously Stated BNPL Items £820.14 - First Payment Due Feb 2010" and in small print
"The interest opt out period on your Buy Now Pay Later item(s) is due to expire on your

next statement. The full outstanding Buy Now Pay Later cash price is £820.14. To avoid
paying interest, please contact us to pay the cash price in full before 16/01/2010.If you
choose not to pay the cash price, the full outstanding amount including interest will

appearon your next Statement."

As you can see today is 22nd Jan and I have paid the account off in full, yet I have been charged £204.70 interest for being 6 days over! What's more all my previous statement say that the 1st payment is due in Feb 2010.

Beware if you have a BNPL account with Very or anyone else for that matter, check the small print.

If anyone has any advice on how to claim my money back I'd be extremely thankful.

Because in these type of contracts they charge you interest from the beginning of the loan .... if you pay off the whole loan before the due date then the interest is not added .... but if you miss the payment date, that interest gets added ....

Most likely you took the loan around the 16th of the month ... if your paperwork says something different (eg. the 22nd) then you might be able to complain ...

Otherwise no hope I'm afraid.

Mark

isplumm

missymugwump wrote: »

TROLL surely
Do not feed

Why exactly do you think this is a troll post ...