Scum of the earth very.com

Scottwb1

I need help! My very account was at £400 when I was working then I lost my job so I missed a couple of payments so I went online to look at my account and it has now jumped upto £900 so I rung them up. But for me to afford the repayments it is now going to cost me an extra £530 in interest over the payment period so a £400 account is now going to cost me £1430. I don't no what to do have they not got any morals.

visidigi

morals? Its a business - you bought £400 worth of goods which you have and use, but have not paid for. Its the way credit works. They rightly could question if you have morals as you havent paid for goods you've had. Its easy to throw words and slander around, but you need to be careful what you say is a) truthful b) relevent and c) not going to get you into further trouble.

when you say you missed a few payments how many exactly? There must be charges on top for the missed payments etc? You're going to need to provide a bit more detail.

Enfieldian

I take it you didn't ring them up when you lost your job and attempt to negotiate some lower payments for a while?

This is also where a payment protection policy would have come in handy.

You only have yourself to blame.

Dave101t

so you missed the payments, and its their fault? jeez....
they arent the scum of the earth...

McKneff

It's always someone elses fault, didn't you know that..............

mikey72

It's a typical apr of 39.7%,so more than doubling in a few months doesn't seem correct though.

arcon5

Fees don't just jump from £400 to £1500 overnight.

How long have you been defaulting/over what period? Do you have a breakdown of the fees

I agree with everybody that you need to take some blame here. It's not their fault you took out a credit account or stopped paying.

HOWEVER, for a debt to jump from £400 to £1500 seems outrageous on the face of it. I imagine what you have done is start incurring fees on fees and 'snowballed' as martin calls it.


You need to get yourself on to some sort of payment plan firstly, then make a formal complaint and get them to waiver a portion of these fees, as they are excessive

G51shopaholic

I have been a Very.co.uk customer for a few years. Yes the APR is high but this is made perfectly clear when you take out the account.

You should have contacted them and maybe they would have offered a solution.

Ask them for written explanation on charges to the account and see what they've added on.

Did you have any other goods on "buy now pay later"? These may now have been added because you defaulted on your account
agreement. This may explain the jump in totals.

redped

Scottwb1 wrote: »

I need help! My very account was at £400 when I was working then I lost my job so I missed a couple of payments so I went online to look at my account and it has now jumped upto £900

You missed 2 payments and it more than doubled? Yeah, right. How many was it really?

If you expand on the details (APR, number of payments missed, etc.) people may be able to check if their figures are correct.

They're only "the scum of the earth" because you obviously didn't fully read/understand the T&Cs when opening the account, as otherwise you'd realise how high the APR actually is.

Fridaycat

If the OP had missed two payments, they would have been charged £12 x 2 non payment fee, plus probably £12 for a contact fee for a phone call or letter sent (if they are not answering their phone.) There will also be some interest charged. But in NO WAY would £400 jump up to £900 for two missed payments.

You must have missed much more than 2 payments and in that time, not only would it have been sensible for you to call in and arrange a reduced payment plan due to your unfortunate circumstances, but you must have also ignored the attempts by very to contact you. So, I'm sorry, but it sounds to me like you've put your head in the sand, ignored the problem, and therefore it's just got worse and worse. That is no-one's fault but yours.

arcon5

I can't think of any way of fees getting to this level. I would say 3 missed payments until debt collectors -- so about £36 late payment fees + £36 monthly interet = £470... then debt collector fee, £40? £510... + additional fees over the month.

Following by perhaps £40/visit from field agents...

Even having gone to court, I cannot figure out for the life of my how it would jump to this level..............


:huh: :huh: