... Yet another Very Customer

[bluespiderman]

Sorry, another thread for Very !!

 

I'm worried about a debt we have with them, my wife has approx £4000 owing and the APR is just under 40%, so in just over 2 years it will have doubled and in just over 4 years time it will have increased to £16,000. Due to changes in circumstances I've now written the initial letter to Very offering £50 p/m which is about all we can afford at the moment, and asked for the interest to be frozen - I'm not convinced they will do this (it strikes me that the type of company to charge 40% APR will not be sympathetic). One thing I've read is that a CCJ will normally mean that the interest is frozen (i need to check the credit agreement to make sure there are no clauses around applying interest after a judgement is made).

 

In this case it feels like a CCJ would actually be beneficial - is there any way we can force this into court ? we have a mortgage with limited equity, so worried that the APR will snowball if this isn't dealt with and overtake the small amount of equity that we do have, we would even welcome a charging order on the house if it means that the interest is frozen and we can pay off the debt with realistic monthly payments

 

If anyone has any experience of how Very react to offers of reduced payments, etc, it would be greatly appreciated

[Jojogfb]

Despite the fact i'm having issues with the PPI on very and littlewoods (same company) - they really are good with payment plans.

Phone them, cry if you must (or ask your wife, sob like a baby haha) , and ask them to freeze it and let you pay little and often. They have let me do it twice as i have got into difficulties before

[pjc71]

Despite the fact i'm having issues with the PPI on very and littlewoods (same company) - they really are good with payment plans.

Phone them, cry if you must (or ask your wife, sob like a baby haha) , and ask them to freeze it and let you pay little and often. They have let me do it twice as i have got into difficulties before

 

god you was lucky ive tried dealing with very for over 14 months about reduced repayments and they will not budge and advice to the op do not ring them they will tie you up and get you to take out a plan which you cant afford pay what you can and just deal by post..

[Old Cogger]

god you was lucky ive tried dealing with very for over 14 months about reduced repayments and they will not budge and advice to the op do not ring them they will tie you up and get you to take out a plan which you cant afford pay what you can and just deal by post..

 

 

same here they are ignorant?

[pjc71]

same here they are ignorant?

 

got a letter from them today ive got a £4000+ balance and ive already told them im on carers allowance the letter states i must pay £2500 by 5th april lol facking idiots

[grannygoggins]

Im going through similar but they have agreed to my paying a limited amount monthly and frozen the interest charge. I am claiming missold PPI and the fee for late payment,I agree with the others dont phone I took the advice on here of only dealing by letter between you.

[babydoll0141917]

I told shop direct I will pay £20a month for 6 months..I told them I will contact them at the end of the 6mth period to let them know if my situation changes..they excepted my offer..Pay what you can afford ,,set up a Standing ~Order....Ive been told that shop direct never take ppl to court ..they would look very stupid to go court anyway if you are making regular payments that you can afford

[Old Cogger]

I offered very £20.00 per month and made a payment, they ignored the freezing etc and just did not bother accepting, so told them in e-mail that it is no use sending 3£20.00 to be eaten up in charges, = no response, then a statement lot later stating agreed payments of £44.00 have not been met? oh! yes what agreement?

[babydoll0141917]

They have frozen my intrest..I will pay them £20 for life if I can afford it..If not they will get less..If they sell it on then I will ask for a CCA request ..If they sell it on IMHO their must be something wrong with the paper work

[bluespiderman]

We did try one phone call, but the best they will offer is to stop the penalty charges the call was ended. I've had zero response to the letters offering £50 pm if they agree to freeze interest.

 

Its the interest that worries me, it's in my wife's name but the mortgage is in our joint names, i am concerned that in 5 years time (when the £4k debt has become >£21k) they will try to get a charging order or similar and try to force a sale on the house.

 

I wouldn't mind if anyone can cast their eye over the agreement uploaded here http://www.pdfhost.net/index.php?Action=Download&File=00b0642078c3d23434dedd7c1352a373

 

I can't see anything re adding contractual interest following a judgment, does this confirm that if it's goes down the CCJ route it will not be possible for Shop Direct to carry on adding the high level interest ?