Very Intrest..

LJI1976

Hi am after a little advice .

My sister has accumulated around 3k I debt over 2 year, 2 credit cards £500, argos card £450, studio £350, and Very at a whopping £1650! :eek: and shes basically paying the interest off shes says.

I have offered to borrow her the money to pay everything off but the Very.... I've took over all her accounts and shes is going to send me £100 per fortnight to:pay the very account off and me it will just take over 1 year... I am going to pay the 100 a fortnight towards the Very then to me.

What I am trying to figure out is how much her account per month while we are trying to pay it off.

She has a few BNPL which I understand have to be paid before the date or she'll get hit with a huge chunk of interest.

She has 3 BNPL June 200, August 300, November 300 so as long as we make sure they are paid shell avoid intrest... And when I was looking at her account it says under her latest payment that she paid around the minimum 70 and that the intrest was BNPL intrest 24.16.

So am guessing that interest will go down as we pay the remaining balance and the BNPL before they kick In?

Thanks.

hadahardyear

hiya if they're paid within the BNPL you will avoid the interest
it usually gives you that so you know what the interest will be if its not paid off

[Deleted User]

Never lend money to family or friends, just read the horror stories on here from those who have.
3K of debt isn't that bad depending of course on her income, if she is struggling to repay she can always try and get them to agree a payment plan.

ukp

Be careful with very. If you do not pay off 100% of the BNPL item, then you will be charged the full interest from the day the BNPL item was purchased.

For example, if the BNPL item was £1000 and you paid off £950, you will still be charged the full interest for £1000

So make sure you have paid off 100% of the BNPL