Buy Now Pay Later -VERY CATOLOGUE

TimeLord1

https://forums.moneysavingexpert.com/discussion/comment/81859406#Comment_81859406

Do they still send an actual catalogue? I Remember the Littlewoods stores and Kay's catalogue all disappeared in the 80's well near me. Argos seemed to have that market monopoly sewn up back then.

jazzedup55

https://forums.moneysavingexpert.com/discussion/comment/81858854#Comment_81858854

I have used very many a times for BNPL and always have paid in full before term matures,this year the statements as usual have been the minimum payable,but like i posted i have been preoccupied with dealing with a death which somewhat fizzles your mind.And now to deal with this unexpected paymen crept up without them even hinting it was coming to an end,means it was always a ploy! who the hell charges over 56% interest without telling you or forewarning you like credit cards do?

jazzedup55

https://forums.moneysavingexpert.com/discussion/comment/81858850#Comment_81858850

off course i have a year ago,but sometimes people miss things,hence credit cards give out warnings months in advance that a balance transfer/money transfer is coming to an end and that you can act.They have not communicated in the hope that people will forget,thats MY POINT.

Ayr_Rage

Are you saying you never got monthly statements or notification when you took out the agreement of the amount of interest payable if you did not follow the terms of the BNPL contract?

eskbanker

who the hell charges over 56% interest without telling you or forewarning you like credit cards do?

The answer, as already explained above, is unregulated businesses/products, which distinguishes them from regulated ones like credit cards.

debsy42

Very are extremely clear when you buy something on BNPL about when the balance needs to be paid so that you don't pay interest. We bought a fridge/freezer from them on BNPL and immediately made a note in the calendar to clear the balance at least a month before. We do also get a monthly statement as a reminder.

It's easy to forget and I do sympathise but not any fault of Very at all.

jazzedup55

https://forums.moneysavingexpert.com/discussion/comment/81860133#Comment_81860133

The monthly reminder just says pay monthly payment IT DOES NOT SAY YOUR BNPL IS COMING TO AN END.You have to actively find that.

Jami74

https://forums.moneysavingexpert.com/discussion/comment/81860071#Comment_81860071

Why don't you contact them, explain about missing it due to a death and ask if they could reduce the interest if you pay immediately? Don't know if it would work but they might take pity especially if you've been a good customer previously.

oldernonethewiser

https://forums.moneysavingexpert.com/discussion/comment/81860082#Comment_81860082

It appears that you were sent all the relevant paperwork and unfortunately failed to take note of important details.

As suggested, ask them nicely, explain the situation and hope for something positive from them, even though Very have done nothing wrong.

born_again

https://forums.moneysavingexpert.com/discussion/comment/81860363#Comment_81860363

https://forums.moneysavingexpert.com/discussion/comment/81858929#Comment_81858929

As that poster states. You need to check the statements online. NOT just the email, which is just to remind you to make payments if due. Email would not contain any finance details for security reasons. As well as being a generic reminder to check your account 🤷‍♀️

All my CC send a email once a month when a new statement is generated. None of these have any other £££ details, other than to logon & check the statement.