Very Group - Unaffordable debt

[JackD13]

Hi CAG team, 

 

I’ve recently seen a few advertisements requesting that i check my eligibility for a refund for unaffordable credit with the very group.

 

I am fairly certain I would be eligible but I was wondering the process involved, I couldn’t see a thread on here so thought I would start a new one!

 

cheers

[unclebulgaria67]

Have you raised a complaint with Very about them providing credit that you could not afford, due to insufficient checks on your ability to afford repayments ?

 

The advertisements are presumably from companies that are hoping to make money from the process of trying to claim money back ?  And they would take a percentage of any money refunded.

 

What are the reasons you would state in your complaint to Very ?

 

Do you have copies of all information to help you make your complaint ?

 

If you don't have enough information, the first step may be submit an SAR to Very.

[London1971]

Steer clear of any company offering this sort of service.  Tell us more about your debt here, and we may be able to help you work through this on your own.

[JackD13]

Thank you both for your reply!

 

@unclebulgaria67I haven't as of yet, I thought I'd get some advice on here first. I have just sent very my SAR so I will expect a response within a couple of weeks.

 

@London1971 

I think i could form a very strong and just complaint.

 

During my early adult life i became a very good (excuse the pun) Very customer, and throughout this time they rewarded me with a ridiculously high credit limit which wasn't relative to how much i was earning at that time and the state of my credit file.

 

I seem to remember the credit limit being in excess of £5,000 but i will be able to confirm when the SAR is returned.

 

At the same time, from 2013 - 2016 I was using payday loan services (such as QuickQuid and Wonga) in order to keep up with the repayments to Very, despite this, the credit limit kept increasing.

 

At the same time as this i was increasing my overdraft when possible and applying for credit cards in order to move money around.

 

I have confirmation emails from the payday loan firms at the time and can submit these as part of my complaint.

 

What are you thoughts?

 

Would you say this is grounds for a complaint?   

 

 

[dx100uk]

no!!

 

though you might well have reverse claims of irresponsible lending against the pdl companies!!though most have gone by the wall now as £10m's reclaimed and won.

 

 

never seen anyone with a case of irresponsible lending on a catalogue company (rolling credit - its not a loan!)

its a catalogue account.

 

those adverts are a scam, as it automatically inserts credit card or a bank name in the next advert

 

never ever use a CMC!!

 

do irl claims yourself its free!!

[JackD13]

Yeah i did investigate a claim against QuickQuid and Wonga years ago but I was too late and they are now defunct.

 

So are you saying that there is no point in pursuing a complaint/claim for irresponsible lending against Very? 

 

I am aware that it was not a loan that i was being given although it was credit, thank you for this information despite it reading like you are speaking at me rather than too me.

 

What is a CMC?

 

I am investigating doing an IRL claim, this is why i am here posting on this board to see if anyone has done this before and if it is worth doing  

[honeybee13]

CMC = Claims Management Company.

 

HB

[dx100uk]

Posts made here are designed to generally help everyone, as they stay forever. 

 

Unless you have copies of your credit report showing you had numerous defaults registered at the time of each spending limit increase, you are going to have a hard time proving IRL 

 

The rest of your evidence might not cut it alone without that. There is also the 3yrs rule they will cite, which is difficult to get around, that you reasonably knew you could claim anyway, but didn't 

 

The other thing that won't help you is taking out other credit to feed the balance, you did that not forced by very to do it 

 

You can't use bad personal financial decisions on an innocent creditor, when to all intent and purpose, you were paying them ok nor raising concerns them to then 

 

Hard rock to crack 

 

Dx

[JackD13]

Never defaulted fortunately.

 

What can i say, i was young and dumb at the time. If someone is giving you money to spend, you spend it!

 

Noted, thanks again for your input. I'll not proceed any further with a claim or complaint.