very.co.uk repayments

izzieprest

Hi im at a loss with this. i stupidly used them last year to buy holiday clothes on buy now pay next year, its not next year so im paying it back. each month im paying £100+ off but the balance just keeps geting bigger not smaller.

iv contacted the, to ask why and to ask for advice and was told it was my own fault

in march i owed £600 now i owe £1030 im at a loss and im starting to get really stressed about it. i HAVE been paying i missed one payment as they didnt send me a statement but since then the interest has sorn

can anyone help with what to do? who to talk to?

iv got a savings accouint with £400 in it (not much i know but i only put £25 a month in to it) im thinking of withdrawing the money from there to pay a chunk of it off in the hopes it will reduce the debt is this advisable?

cassidy0111

izzieprest wrote: »

Hi im at a loss with this. i stupidly used them last year to buy holiday clothes on buy now pay next year, its not next year so im paying it back. each month im paying £100+ off but the balance just keeps geting bigger not smaller.

iv contacted the, to ask why and to ask for advice and was told it was my own fault

in march i owed £600 now i owe £1030 im at a loss and im starting to get really stressed about it. i HAVE been paying i missed one payment as they didnt send me a statement but since then the interest has sorn

can anyone help with what to do? who to talk to?

iv got a savings accouint with £400 in it (not much i know but i only put £25 a month in to it) im thinking of withdrawing the money from there to pay a chunk of it off in the hopes it will reduce the debt is this advisable?

I think the experts on here will probably ask for a full Statement of Affairs before they can advise. The SOA calculator can be found at the top of DFW page.

However, the interest to Very will be far higher than the interest you get on your savings.

izzieprest

where should i send the statements too?

im so angry at them it creeps up despite the repayments that they say (i pay more than the minimum too as i know that they like to rip you off)

never again hey lol. i think ill save in the future

marywooyeah

sorry to hear you are in this situation but i do think very sell the buy now pay later as a good thing when actually you end up paying loads more back. I'd be interested to know what APR you are on as that is a massive increase in the amount you owe even though you are paying more than the minimum - is there a breakdown on your statements?

izzieprest

nope i keep asking for that, and for them to explain it all coz i think its a joke but they wont give it me they just say "its there on yout my account page"

which its not.

apr is 39.4% but when i took it out it was lower,but apparently they have the right to up it when ever they want.

now tax credits have decreased stupidly too im not sure how im going to pay it (again i cnt get a job due to been 28 weeks pregnant lol and i have spent a year studying as im wanting to be a teacher)

im thinking if i pay of £400, then pay £60 a month after that it might help but when i tried to talk to very about it they just said "your account is interest pending"

they really are evil and useless

izzieprest

im going to have a huge sort out of all my clothes and put lots of stuff on ebay tonight as a way of getting some extra pennies, I feel awful as we have only just bought our first house and im now not going to be able to help with anything.

debating selling my trumpet but i adore that and dont want to get rid of it as i play regually at church

lauzt1987

I'm afraid I don't have much advice for you but I just wanted to say that I can empathise as I had a lot of problems with very last year who were chasing me for a debt I didn't owe. Their contact centre is totally useless. In the end I posted on here and very representative visited the board and finally got it sorted for me. Hopefully they will do the same for you.

I've written to watchdog about them, they really are scum.

DorsetGirl_2

Very do it so that after the interest free payment period is up they add all the interest there and then, so if you took out £600 last August and the free period has finished they will add another £275 ish in interest, then obviously if you are still making patments to are paying interest on the interest.

The best way to do it is to try and overpay as much as you can.

izzieprest

god they are mean lol

well ill cash in this savings account, to pay a big chunk of it. its just annoying coz it says "take 3 payment" which is the interest free option... yet they are adding blinking interest.

my own fault... looks like its gonna be a very boring birthday for my little girl this year lol xxxx

KingElvis

It's only interest free for limited period, once that limit is up they will pile on the interest, charges and anything else they can get away with....and then add interest to that.

Just overpay as much as you can and get shot of it.

I would advise you also stay away from companies peddaling tat like this lot.

izzieprest

yes sir:D i will in the future stupid decision to use them in the first place. we live and learn. spoke to the savings acc ppl they will release my funds for me and they will be in my account in time to pay off a big chunk this month then its just a case of trying to beat their evil interest lol xxx