Very - buy now pay later help!

Kizzyb01

Hi!

So I chose buy it now pay later with Very. I paid small amounts regularly, throughout the period with a balance of £126 to settle. Unfortunately I missed making this payment by 1 working day! Only to find that Very charged me £143 (which was the interest for the whole BINPL period!) I feel completely robbed! Is there anyway of appealing this and winning? It seems almost unlawful to incur such a hefty cost!!

marliepanda

Kizzyb01 wrote: »

Hi!

So I chose buy it now pay later with Very. I paid small amounts regularly, throughout the period with a balance of £126 to settle. Unfortunately I missed making this payment by 1 working day! Only to find that Very charged me £143 (which was the interest for the whole BINPL period!) I feel completely robbed! Is there anyway of appealing this and winning? It seems almost unlawful to incur such a hefty cost!!

Firstly it’s not unlawful. You had a contract with very and you broke it. 1 day, 1 week, 1 year, it doesn’t matter. You broke it.

Do not go at them saying you have been robbed and speaking of legalese, as legally they are correct.

Go to them nicely and ask for goodwill as you were one day late. Perhaps act upset that this has happened, not angry. They are far more likely to help and upset customer who was late than someone going off at them for their own mistake...

mije1983

Usually if you break the terms of the offer, you automatically move to the standard offer. If you read the Ts&Cs you agreed to at the start, you will most likely find it in there that if you break the terms of the offer, you will be moved onto a standard plan.

[Deleted User]

I'm afraid its one of those things you learn from. Happened to me. I just had to say 'never again'. Those deals are offered because a lot of people take them out thinking for sure they will pay it back in the stated time period, won't have to pay the very high interest so its a good deal. Then I bet 50% or more forget, can't be bothered etc. Then there's lots of high interest to pay.

You won't do it again or you will put the payment date into your phone with loud alarms so you don't miss it.

Not a lot you can do. I'm afraid I don't see why Very would want to renegotiate.

arcon5

Phone and ask them for some goodwill.
You think their fee structure is unlawful? But you was ok with it when you took it out?

Silvertabby

You can try, but don't be surprised if they say no. As far as Very (and similar catalogues) are concerned you are 'a very bad customer' because you took the option NOT to pay their ridiculous rates of interest. 'Good customers' don't quibble about the interest because they only look at the actual amounts they pay, and not the final total.

Missing your payment by just one day means that they can (legally if not morally) charge you the interest they felt that you should have paid in the first place.

I don't normally buy from catalogues but, some time ago, I took advantage of a full set of Dorma bedding and curtains offer from 'Smalltrees' catalogue for less than half the list price and 4 months interest free credit.

I was pleased with the goods and the offer - but then the trouble started. I received a letter saying 'great news for a great customer - reduce your £XX monthly payments to £X per week and save £X'. This meant giving up the 4 months interest free and switching to 52 weeks at a stupid rate of interest. The letter was suitably dealt with. And the next one. Then they got desperate and rang me - saying that I would be daft not to take advantage of their wonderful offer, as I would be 'saving' £X per week. Playing along, I asked how much interest I would be charged and what the APR was - and the chap actually said that I shouldn't worry about things like that, I should just look at the weekly payment!

The conversation ended with me saying that I was going on line to pay off the final 2 months of payments - interest free - and that I wanted a letter from them confirming that my account was closed.

I haven't bought anything from a catalogue since.