Catologue Debt

Missedtheboat_2

Hiya all..ive just found you :T

Please could anyone help?
I have a catalogue debt of £1,800, im un employed and the payments have just gone up:o
I'm fully aware that this is my fault and my debt.!
I cant afford the repayments so called them to see if they could lower the payments..Yes they said but they wanted to add £888 in interest to my already bulging bil!

so...im thinking..could i get a loan..pay them off totally and pay the loan over a longer period?
Could i get a loan..being unemployed? i can afford £50 a month im stuck..

The option the catologue people gave me was to pay what i could, wait for them to send me to a Debt collection agency and then pay them.
any help would be appreciated:j

Thanks
Missedtheboat

file_wizzard

Pay what you can afford, DO NOT get another loan just to pay this debt.

most Catalogue debts are unenforceable ( unless you are one of the few that actually signed the CCA agreement)

So you should pay what you can realistically afford

skylight

Post this on the debt board instead.

DO NOT "Rob Peter to Pay Paul". Old saying and it is SO TRUE!!!!

Put togther a SOA (Statement of Affairs) of all your income and outgoings on the debt board and they will talk you through what to do next.

Like the Wizard said, if you have not signed an agreement then the debt is unenforceable.

How did they justify £888 interest?

Missedtheboat_2

hello...thanks for your replys :-)
Im unsure how they came up with the £888 added interest..but i wasnt daft enough to take them up on the offer....
Only thing is now they have sent me a bill indluding arrears for a monthly payment of £214...yeh haha

so should i just pay them 50 this month and wait for them to send me to a debt collector? they will settle for the 50 a month payment?

enjoyincubus

You don't mind me asking which mail order company this was? I used to work for one and I have never heard them wanting to charge extra interest - sounds very dodgy if you ask me! Infact I am pretty sure this is probably illegal!

asandwhen

Write to them and ask them for the original signed credit agreement - the chances are you didnt sign one and if this is the case they are unable to enforce this debt.