what does this mean please?

System

i think i must be missing something here ! you agree this debt is yours ,run up over the last few years but basically you dont want to pay any interest charges that has accrued ! studio are clear in their interest /delivery charges, i only order what i can afford to pay off all at once ,while requesting a copy of the cr agreement no doubt is a valid route if the debt is not yours it seems to be being used as an excuse to wriggle out of your responsability. as for being penalized for late payments i dont know of any company that does not do this what did you expect a bunch of flowers !

floss2

I think the OP was asking for advice on the letter they had received, not trying to "wriggle out" of paying the debt.

As MSE Martin says, Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

System

feel free to enlighten me ! did the debt suddenly appear overnight ? did the op not recieve monthly statements ? there appears to be only a small arrears ,why decide the rules op agreed when placing the 1st order are now unfair? most of my debt is via catalogues some with as much as 39.9% interest[ paid that one off last month] but i knew that from day one .while i dont recall saying it was a stupid question as far as courtesy goes i reckon whatever i said to disagree with comments so far would have been interperated this way!

Kevicho

magoogy wrote: »

make a payment of say £15 - £8 is taken for the interest, then £7 put back on in customer service

This is the part i disagree with, its totally unfair and amounts to a rip off.

The op has paid (or claimed to have) the amount borrowed, but the bill is not going down because of these extortionate fees that are being constantly added, if it was only the interest then that would be a different matter.

Also to note that these fees are compounding the interest so its not a fair reflection on the interest on the debt.

Punitive charges by definition are a profit gaining method applied in several ways such as late fees or other "service fees" which bear no resemblance to actual cost.

These practices should be stopped, but having read and heard lots of business gurus advocate these sort of charges as a profit making mesure i KNOW that these charges are not for services.

Floss

Thanke Kevicho - I knew someone would come along & explain it better than I can! I was starting to get annoyed & I couldn't get the point across so went & did some work instead of replying!

System

magoogy wrote: »

i do owe the debt

:rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes:

love to chat but i ve got a life to get on with !:o

In_Search_Of_Me

magoogy are you OK now or do you have any more questions?

Chrissy G dont worry there are pleanty of us with no life & lots of debt who will happily help magoogy so you just have a nice play with your friends in which ever playground it is you inhabit!

GettingThingsDone

Hi - I don't know if you'll return Chrissyg, but are you suggesting that it is ok to break the law?

@magoogy - have you had to pay charges, or is it just the interest rate's high?

gtd

magoogy

..........

System

break the law????
what im suggesting is that valid debts are delt with appropriately. i have catalogue debts and have never returned a credit agreement ,does that mean i can say they are not my debts ? i personaly would rather face up to my debts as down the line it will impact on not just my cr rating but my husbands and possibly my daughters.incedentally my "playground" is the responsabile adult world where i dont blame other people for my choices!