NEXT DIRECTORY Debt

tallulah73

Ive run up quite a big debt with NEXT DIRECTORY, the repayments are far too much for me to afford although ive been managing to pay the minimum amount for the last 3 months but in the run up to Christmas there's no way I will be able to keep up these payments.

I am a single mum and am on benefits at the moment I have 2 children at home age 15 & 2 and a daughter at uni.

My monthly income on benefits is: £750
My debt with NEXT DIRECTORY is: £1,748
Minimum monthly payment is: £189
The service charge is £45 per month on my repayments!

I have other debts too including

Freemans £300 - min £20 per month
VERY £710 - min £30 per month
La redoute £500 - min £30 per month
barclaycard £550 - min £15 per month
capital one £220 - min £20 per month
TOPSHOP £120 - min £15 per month
H&M £300 - min £30 per month

....yes i LOVE clothes!!!

I make the minimum payments or just above on all these and have never missed a payment yet. I am left with around £60-£70 per week for food
Ive decided that enough is enough and i will no longer be buying anything on credit again once these debts are all paid off.

Does anyone have any advise regarding the debt I have with NEXT? If I was to tell them my situation is there a chance they would reduce the monthly payments?
Should I apply for ANOTHER credit card with a low APR to pay off some of my debt with NEXT?
Any advise would be much appreciated.

bottleofred

Hi tallulah,

You should probably post your full statement of affairs and then you'll get loads of tips/advice on how you can save cash, which can then go towards your debts. I do think you should contact next and think you will be able to find template letters on the consumer credit counselling service website or national debtline website for reduced monthly payments. Don't let them bully you into paying more than you can afford each month though.

Good luck

Red

tallulah73

Hi,
Thanks for your reply.
I phoned NEXT today and they we're actuallly really nice and helpful.
Ive got my repayments down to £100 per month for 6 months so I was happy with that....

THEN My landlady phoned to tell me she's putting up my rent next month be £50 per month so im back to square one!!!

Westminster

Looks like you have a bit of a catalogue issue ;-)

Have you checked here to ensure you are getting everything you are entitled to?

theoretica

I rather think your landlady needs to give you a full month's notice of rent increases, and they should be in writing. You can of course contest them, but might risk eviction.

With your clothes buying, do you have any you could sell on ebay to pay some of your debt off?

sickasachip13

I found NEXT helpful too.

Your landlady should have put this in writing.

If I were you I'd be tempted to make the next couple of payments as agreed to Next and then ring them again and explain that you do want to pay the debt back, but that your rent has gone up and you need to reduce the payments again, and could they stop the interest so that your debt doesn't increase.

Also, yes, as theoretica suggests, you've probably got some stuff for ebay!

MrsTinks

I think the problem isn't that you love clothes - you have a spending problem... sorry.

You need to get your head round addressing this and binning the catalogs and stop buying any more! I appreciate that kids needs clothes but us adults do not need that much. I have to wear very smart clothes to work and I don't spend a lot on clothes at all...

Looking at all your debts you need to think about a full DMP and address all the debts. It will !!!!!! your credit for 6 years but frankly that's probably a good thing as you will not be able to add to your clothes debt but will have to save for it before buying...

Purple_Sunshine

I can't really add much else but good luck It is very easy to end up in this situation.

heatherks

next are usually ok ..bu they want to know all you incommings and outgoings

might be better going to Cab or Cccs but they would probably include reducing payments to all your debts ...not just Next .

if you phoned Next they would probably only reduced payments for 3-6 months at a time

James26

My advise see if next can freeze interest. Pay your Topshop account then snowball your payments. Have you filled a soa

QueenB.

All the advice given should really help and a soa would mean you could get even more advice. All i wanted to add was if you love clothes so much why not put some older ones on ebay and then get some friends together for a clothes swapping party, fun and a cheap way to change your wardrobe. Plus you can find some great fashion bargains in charity shops.

Good luck with your journey:)