Very catalogue debt

arun91912

Hi people

I'm not sure if this is in the right place; this is my first post so do forgive me.

So here we go..

I am in debt to Very about £2400 up to now but will rise with their interest etc.. I have been with them a number of years now. I have only missed 1 payment (06.09.19) because I am struggling a little financially. I rang them on Friday and I have spoken to them today. I have come to an agreement with them today to pay £50 a month for October and November. But they will still add interest. They said if I pay more then the agreed amount the agreement automatically ends.

Now, at the end of the conversation the person told me I can't shop until the balance is cleared and even after that Very will look at my situation again and if they're not happy they will not let me use the service again.

I just wanted to know has anyone here had the same problem with Very. The last time I had payment problems with them was about 3-4 years ago but at that time I don't remember them saying they will review my circumstances and even on Friday I was told I can continue to shop once I have caught up with payments. Basically, 2 people have told me different information.

Rant over; I guess my question really is.. Can Very shut my account down just like that? I only missed one payment in however many years. Before this, I made all my payments ON TIME and PAID MORE then they have requested. It just seems a little unfair that they could do that over a temporary problem. I haven't avoided them and I have kept them informed of my situation.

Thank you

Carrot007

Yes, however if the balance is more than 2 months wages (and you have other debts) you would probably be better off defaulting.


Very are not a nice company to deal with. Even if you pay in full and never get interest.

TriggerHappy

Very and not Very nice to deal with as the moment they get a hint of an unmanageable debt then they turn into proper so and so's...

Clear it off as fast as you can and never return is my opinion

arun91912

I don’t want to default because I don’t want to harm my credit rating anymore then I already have. Also, want to keep it good for the future.

Yep they are horrible. I thought they might understand but the ‘review’ has kind of bugged me out.

I’m tempted to call them up again tomorrow to clarify the situation or just cancel the ‘agreement’ altogether if that is possible. And make the payments as I would normally. Would that be possible?

sourcrates

Very can close your account at any time and ask for the balance to be repaid.
Those are standard terms of most kinds of credit agreement, you know, the terms and conditions no one ever reads.

Basically they can do whatever it says they can do in the agreement.

arun91912

Looks like I’m stuffed then. But thank you all

EssexHebridean

This is actually remarkably simple.

You are in debt. Stop buying stuff.

Tackle the problem, clear the debt, then your money becomes your own to spend as you want again. (Ideally in a "cleared every month in full, and only making spends you have budgeted and saved for in advance" basis).

View Very's refusal to let you shop as an advantage - take a moral stance on it if that helps but either way stop adding to your debt!

Karonher

I agree with what others have said about Very being unhelpful but in this case I think they are doing the right thing. So many people come on here and want to sue for irresponsible lending yet here Very are making sure that does not happen by preventing future purchasing at present.

This is the second time you have had problems with them so they are letting you know in advance that they might not risk there being a third.

anna_1977

your credit record with them will be shafted if you've made an arrangement to pay - they mark the file with those markers and will do until balance in clear - definitely default or pay in full ASAP