Very/Shop Direct

amjack

Hello,

I'm hoping there are some MSE'ers with experience of this company. I have had an account with Very for about two-three years, initially used to purchase Christmas presents (I know, I know, not proud) and used sporadically afterwards. With interest etc and a couple of missed payment charges, the account now stands at just over £1000. I have been paying the minimum monthly payment religiously for over a year, the minimum payment usually being between £70 and £80 per month, and when I can I try to pay an extra £20 or £30 to make a dent in the debt but because of the high interest it's not making much of a difference in the overall amount. I feel like I'm trying to roll a boulder up a hill with my nose, I want to make payments and see the debt come down, not hover at roughly the same amount.

I want to write to Very to ask that they freeze the account, and in turn I will agree to pay an agreed amount per month (£80) in order to clear the debt. I was wondering if anyone here had done that and whether they had had any success or have any advice for me?

Thanks in advance.

rizla_king

I presume you have not defaulted the account yet? If not, they are unlikely to stop interest or charges, even if you ask or complain.

happy_bunny_2

From what I read on here and my dealings with shop Direct group, not a chance until you default and its sold to a Debt Collection Agency.

heatherks

You could always try ...............but in my experience they are one of the worst companies to reduce or stop interest even once you have defaulted

amjack

I haven't defaulted on the account, still making the minimum repayments at least but trying to pay a bit more each month. I guess I'll just need to keep doing that. Thanks for your help everyone.

missnb

I am currently on a DMP and ShopDirect are the only one of my creditors who have been utterly unhelpful! Barclaycard and Capital One have frozen charges, whereas ShopDirect continue to harass me with letters and demands even though they have passed my debt to NCO. They have also received £470 from me over the past two months but have acknowledged nothing in my statements - although funnily enough - haven't defaulted me yet :think:

There's nothing regret more than getting involved with this company. Hope you manage to sort it out

elsien

Is there any way you could move the debt to something with a lower interest rate? That way at least you'd see the payments having an effect.

prnapper

Although on DMP and yes having a catalogue that fell into debt quickly with late payment charges and 4 hourly debt chasing calls... i had a mistake phone call from the debt collection because it hadn't updated yet... but i had my reference number as proof of payment! they apologised and went on to charge me £15 for the call!!!!!!! my account can not afford the expensive charges and the constant harassment of 4 hourly turn around calls it was making the tensions run higher than the interest - which is pretty high let me tell you.... to remedy this i took it upon myself to update my personal details on line and replace my phone number with
(00000) 000 000
it recognises the number of digits and then the call centre cant trace you....... not ideal - but neither is £15 charge every time you answer their call.. they make a bad account worse by doing this. i think if everyone paid all they owed they could notice a real dent in their profit margin...

happy_bunny_2

prnapper wrote: »

Although on DMP and yes having a catalogue that fell into debt quickly with late payment charges and 4 hourly debt chasing calls... i had a mistake phone call from the debt collection because it hadn't updated yet... but i had my reference number as proof of payment! they apologised and went on to charge me £15 for the call!!!!!!! my account can not afford the expensive charges and the constant harassment of 4 hourly turn around calls it was making the tensions run higher than the interest - which is pretty high let me tell you.... to remedy this i took it upon myself to update my personal details on line and replace my phone number with
(00000) 000 000
it recognises the number of digits and then the call centre cant trace you....... not ideal - but neither is £15 charge every time you answer their call.. they make a bad account worse by doing this. i think if everyone paid all they owed they could notice a real dent in their profit margin...

Those charges go against OFT debt collection guidelines. Should complain then refer to FOS if needed.

Sellurgranny

I got into a bit of a pickle with Very last year, missed a payment and then was not able to catch up on myself as the minimum payments were so huge. To their credit, when i rang they were fairly helpful and said i could spread the cost over 3 months as a payment plan. They didnt freeze the interest though although i dont think I considered that they would. Anyway, having gotten myself back on track with minimum payments, Im now making paying off that particular debt my first priority. Their interest rate on the buy-now-pay-later option is 44%! Its absolutely mind boggling and I can't quite work out why I didnt even consider this at the time I said yes to BNPL. Never again.

Im snowballing my debts now, with Very being first in line to be paid off. Its a wonder how anyone manages to extricate themselves from that hideous interest rate. Daylight robbery. If you can manage to throw everything you possibly can at your Very debt as a priority and maybe keep to the minimum payments on other debts, you might be able to kiss Very goodbye. I can't wait to close that account!