Can i reclaim catalogue interest charges?

BlueFlower

Hi

I am with a catalogue call Very ( used to be called additions)... and they have been charging me £56 interest a month!! and £12 for each letter. I can only afford £50 a month to pay them.
I spoke to the catalogue a few months ago, about this and asked them to freeze the interest for 6 months, but they said they wouldnt and i would have to pay £96 a month to be interest free, which i simply cant afford.

This is a joke! They now send me non-stop letters from NDR Money.

Is there any way of reclaiming these charges?

Thanks

[Deleted User]

I think you need to be very clear on what you are wanting here, interest and charges are very different. If you have agreed to pay interest there is not much you can do, if you cannot pay I would ask them for an arrangement to pay, remember this will show on your credit report and you may not get credit whilst this is in place. Once you have requested this and can manage the monthly payments, remember this will not stop interest but may reduce interest. I would then ask them to consider refunding charges and fees because of your financial hardship.
HTH but if you need anything further just let me know.

gemigemfr

I emailed very catalogue regarding charges and fees I would like to reclaim.their reply was, "unfortunately I am unable to help you as your account has been passed to our collection team".they also added "I can confirm that any fees added to your account would be in accordance to the terms and conditions you agreed to when you opened your account".I don't know where I stand now?does anybody have any advice pls?thanks in advance

helenmcneill_2

I have the same problem with Very (Additions)

Magically my account went from £4000 to about over £6000 since September last year - they will not stop the interest - although i wouldnt mind finding out a bit more. My APR went from 34% at the beginning and changed to 44.4% early last year!!

If you find out anything else - please let me know!

geministar2008

how did you guys go with very??? I ask as i am having some issues with them!

debtfree2010

Hi,
I am in the same position with Very :mad:
My debt was £3000, I wrote to them sent income and expenditure sheet, they agreed to £30 per month....that was last year, since then my debt according to this mornings statement is now £5000 :eek:
I am in two minds to stop paying them (NDR Money) in the hope they pass me over to an outside agency where the interest will finally stop!

kazakastan

hi, i know this is an old post, but i,m having the same problems with them at present, how did you get on, were you able to reclaim and get money back? thanks

NubianStar

Wow,
This is a really old post but the thread still running I hope. I set up an account with Very in April last year. I bought a £500 laptop to which I paid £200 upfront. From owing £300 in April I find that I have paid £600. Meaning I paid a total of over £800 for my laptop. Although i have paid off the item, my account is now in debt due to ridiculous 'debt phone' charges and they continue to add interest on the charges!?? I'm totally at a loss and don't know what to do. How do I stop the interest and cancel the charges that are an excess of £200? Any help or guidance regarding legislation would be much appreciated. I don't understand how what they are doing is legal???
Thanks

Lucyb953

Hi all not sure how anyone got on with very complaints and this is an old thread! But i came across a website called debt camel and you can claim back interest from payday loans if you had numerous loans and kept reborrowing if you can prove the loans were unaffordable. There is now a new thread on this website regarding catalogues with ridiclous credit limit increases! If they were unaffordable you maybe able to claim back the interest you have paid. I just sent off a complaint to very yesterday and already have a complaint against quick quid which is now with the FOCs. Will let you know how i het on but you should check the website out!

[Deleted User]

That seems less than likely.

antrobus

Lucyb953 wrote: »

Hi all not sure how anyone got on with very complaints and this is an old thread! But i came across a website called debt camel and you can claim back interest from payday loans if you had numerous loans and kept reborrowing if you can prove the loans were unaffordable. There is now a new thread on this website regarding catalogues with ridiclous credit limit increases! ....

This one?
http://debtcamel.co.uk/refunds-catalogue-credit-card/

As they say, "Not many people have made these complaints yet", so there are no reports of any successes.

The FOS have this to say on the subject.
http://www.financial-ombudsman.org.uk/publications/technical_notes/financial-hardship-unaffordable-lending.htm

Lucyb953 wrote: »

..If they were unaffordable you maybe able to claim back the interest you have paid. I just sent off a complaint to very yesterday.......

And did you make it clear what sort of complaint you have, and explain why the account repayments were unaffordable for you?