Shop finance direct/very fee help

[salphy]

Hi can I have some advice please?

 

OH has a very account which is getting unmanageable due to a drop in wage and I was just wondering the best way to go about it and if there's any chance of getting the fees waived.

 

The account was opened in October 15 and first used in December 15.

 

The total purchases are 553.11 and we've made payments of 265.44 so there's 287.67 left to pay off the items ordered.

 

The current balance remaining is 420.67 which is from an additional £54.75 normal interest. £42.25 of buy now pay later interest and £36 from 3 late payment fees at £12 each.

 

We're doing our best to manage our debts without going into a DMP or anything but we can't meet the minimum payment this month without lending off family and I don't want it to carry on with more interest and missed payment fees added as its very quickly adding up and nearing the original purchase total. (In July they added £50.70 to the balance as 1 missed payment fee £12, interest £7.79 + buy now pay later interest £30.91)

 

Does anyone who's dealt with them think it's worth offering a full and final settlement to close the account?

And what amount would you suggest?

We'd have to lend it off family so the smaller the better.

 

I'm not trying to get anything for free but just trying to get on top of it now before it gets out of hand. Would £300 be acceptable?

 

Any other advice would be really appreciated.

 

I know he accepted the interest etc when he opened the account and its our fault for making the purchases but we weren't expecting the change of circumstances and are having to prioritise the mortgage etc.

 

Thanks x

[dx100uk]

Cat debts are very (pun) low priority

If you look in the dca section of the library there are numerous letters there

1st to offer a lower payment and freeze interest etc

 

Then if they don't play ball there are other letter s

 

More later

Don't use a dmp provider

Do it yourself

[salphy]

That's great I'll have a look now. Thank you

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?405-Debt-Collection