I cannot afford to pay my Very Account Debt?

Many are worrying “they can’t repay Very Catalogue Debt” and what solutions there are?

Check out our guide on all debt solutions for catalogue debts in the UK.

Enjoying your new purchases from Very is a great thing, and we all love doing it. One thing we don’t all love doing is making the payments for them!

The number of people who are seeking help to manage their Very catalogue debt is increasing.

We are able to help you manage these payments and help to remove the stress of being chased by Very. Catalogue companies will pester you if you let them and we are able to stop them from contacting you.

Can I Write Off Very Catalogue Debts

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The important thing to remember is that you are not alone with many other UK citizens having “very payment problems” in this and we are able to help.

If your credit card balance is too low and you can’t pay your Very account debt, then this guide is here to assist you.

I Can’t Pay My Very Account Debt – What Should I Do?

Your first instinct may be to panic – but try not to. It’s easier said than done, but we are here to help and get you out of any Very catalogue debt!

One of the first steps you should take when you realise that you are not able to keep up with the catalogue repayments is to take the debt quiz.

Can I Write Off My Very Catalogue

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You may be surprised at how many solutions are available, which can help you pay back any debts to catalogue companies.

The great thing about the debt quiz is that it will get a handle on your current situation, and we’ll then be able to advise you on the best options, enabling you to create an affordable debt management plan.

One thing to always remember is that many people find themselves in your situation, and are unable to make their monthly payments on their credit cards. You are definitely not alone.

We are able to provide practical debt advice that will help you to get your monthly payments under control, and enable you to relax a little more.

Do Not Pay Very Until You’ve Received Free Debt Advice from an Advisor:

The best thing you can do is to take the debt quiz.

You are under no obligations – so you don’t need to worry about being tied into anything else.

There also is no charge for completing it, so you don’t have anything to lose!

Seeking the right advice for catalogue debt could mean that up to 90% of your debt to Very will be written off.

This will, of course, depend on your current circumstances – but that’s why the debt quiz is so useful! You can learn about what you’re entitled to and how to deal with catalogue companies.

If, like many, you are finding it hard to manage debts, you really ought to speak to quality IVA companies, or a debt charity that specialises in dealing with debts. They can help you with anything from credit card debt, to council tax debt, to loans and catalogue debts.

Here are all the United Kingdom debt solutions available to you depending on where you are based:

Who Is Very?

Very is an online retailer, whose headquarters are based in Liverpool.

It was launched in July of 2009 and was part of the Shop Direct Group. This group is now known as the Very Group.

You may know Very through other names, as they’ve been affiliated with Littlewoods Direct and also Woolworths.co.uk.

Originally known as Littlewoods, a shopping catalogue, the Barclay Brothers purchased the brand in 2002.

Things changed in 2009 when Littlewoods Direct had a re-brand and became Very.co.uk.

With this, the focus also changed and became more about the online retail sector and targeting the younger market.

Very make it easy for you to purchase well-known brands. They offer lots of different methods of payment, including credit with an interest rate of 34.9% APR.

This interest rate isn’t unusual for catalogue companies, but that doesn’t stop an interest rate from being high.

Catalogue companies and debt collection agency teams will often create payment plans where the repayment will be given in minimum payments to make it suitable for everyone.

In keeping with targeting their younger market, Very uses celebrities to endorse their products, and have also sponsored numerous public events, TV shows, and music festivals.

They also often provide product placements and ‘click to buy’ items.

All of this has gone a long way to ensure that Very is a household name.

How do I Stop a Credit Card Company from Calling Me?

To stop a credit card provider from calling you, you don’t have to communicate with the debt collector, and are perfectly within your right to ask them to stop communicating.

We fully understand that debt is stressful. One of the best things you can do is to seek advice from a debt consultant.

A debt consultant will make sure that the debt collectors stop communicating with you. A letter from a consultant is all it takes, and it can really help to take some of the stress away.

Getting debt advice is from an advisor is the best way to prevent communication from the debt collectors.

This can be particularly useful if your debts are out of control and bailiffs are applying pressure on you. A debt advisor will be able to stop these companies from chasing you, so that you are able to relax and consider a payment plan.

Catalogue repayments easily get on top of a lot of people, and debt management can be difficult to manage on your own.

Help is always available so it’s never too late to take action. Complete our quick debt quiz to begin your steps towards a debt-free life.

Free Interest Rates on Catalogue Debts

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Complaining about Very Debt Collection

Even when you’ve been doing everything you can to pay off your catalogue debt, some companies can still treat you unfairly – if that’s the case, you can and should complain.

There are specific steps to take when complaining to a catalogue company, and the best place to start is by writing to them directly. This can be done at the below address:

Very, Customer Excellence, Sandringham House, Sandringham Avenue, Chelmsford, CM92 1LH

There is always the option of raising a complaint through social media channels such as Facebook or Twitter. The key thing to remember with these channels is that they are public forums – so don’t be surprised if Very wish to call you instead. This is safer for you and helps to keep your details private.

You can also call their dedicated persistent debt number (0800 092 9042) to discuss any issues you may have.

There may be a charge for calling this number, so do make sure to check their website for more details.

If you don’t require an immediate response, you can contact Very using the online form on their website and somebody will get back to you.

Finally, if you aren’t happy with how their response or their response, you can take your complaint to the Financial Ombudsman Service. However, this does need to be brought to them within 6 months of Very’s final response letter.

How do I close my Very account?

There are several ways to close your Very account down. One of the quickest ways is:

  1. Go onto the very.co.uk website.
  2. Then ‘Contact Us’ > ‘My Account’ > Chat.
  3. Once you are in the chat, ask them to cancel your account.

They will send you a removal form, asking for these details:

  • Account number
  • Full name
  • Date of birth
  • Yes/No if you are the primary account holder.
  • Postcode

When you have completed this form, your account will be closed.

How Do I clear my Very debt?

It may feel overwhelming, but you have many options to clear out your very debt. These options are great especially when you are falling behind your bills or when you find yourself unable to pay for your credit card balance or your loans. Keep in mind that you should seek free debt advice while you are considering your options to know which one will work best for you.

Debt Management Plan

A Debt Management Plan (DMP) helps you pay off your debts through an amount that is more affordable. The DMP may be the best option for you if the debts you are settling are considered non-priority debts, such as overdrafts, credit card loans, store cards, or personal loans.

In a DMP, you work with a DMP provider who mediates between you and your creditors so that you can agree to a more affordable amount. Usually, with a DMP, you have to pay at least £5 to each of your creditors but this amount may vary between your creditors and the DMP provider. You only have to pay the providers once a month and they will be the ones to forward the payments to your creditors.

Debt Relief Order

A Debt Relief Order (DRO) is the best option for you if you have few assets and a low income. The Debt Relief Order freezes the debtor’s debt for a year, after which, the debtor’s financial circumstances are reassessed. If there are no changes in the debtor’s finances, their debts are written off.

A person has to meet the qualifications to apply for a Debt Relief Order. To qualify for a DRO, you need:

  • qualifying debts that are no more than £30,000
  • you have no savings or possessions worth more than £2,000
  • you have at most £75 to spare for monthly payments after your living costs have been deducted
  • you live or work in England and Wales for the last three years

Individual Voluntary Arrangement

With an Individual Voluntary Arrangement, your debts and all their interest and charges are frozen. You pay for your debts within a set period of time at an affordable rate. Whatever amount is unpaid after the set time is then written off.

An IVA is best for people who can afford to pay a portion of their debts but not the full amount. The debtor needs to prove that they can pay for the green amount within five to six years because this is normally how long an IVA takes.

Keep in mind that an IVA is a legally binding agreement between you and the people you owe money to.

Bankruptcy

Declaring bankruptcy is a big decision that should take a lot of time to consider. Bankruptcy writes off many kinds of debts but there are types of debts that will not be included such as student loans, social fund loans, fraudulent debts, and child maintenance liabilities.

If you have any assets of considerable value, these can be assessed if they can be used to pay off your debts. However, you can still keep some of the assets that are essential for you to keep working. You can consult a debt adviser to explain the details of bankruptcy further.

Full and Final Settlement

If you have a considerable amount of money on hand or if you are expecting to receive a lump sum soon, you can ask your creditors if they would consider a full and final settlement. In a full and final settlement, you will be paying a part of your debt with the lump sum and your creditors agree to write off the rest.

The creditors may also consider receiving a monthly payment from you over an agreed period of time before writing off whatever debt is left.

Writing Off Debts

Writing off debts is only possible in extremely rare cases where the debtor will no longer have income, savings, or any assets. Creditors will also only consider writing off debts when the debtor shows that their financial circumstances will not improve in the future.

Free Debt Advice

Getting free debt advice from a professional debt advisor is the best way to properly assess your current financial situation. They can also help you study all the different debt solutions that are available to you before you choose the one that matches your needs. Along with these benefits, the debt advisor can also help you compute your budget and allocate your funds so that you can be debt-free sooner.

You can trust that the debt adviser will offer you confidential advice that will be within your means without any judgement about your current financial situation. They will also make sure that you have maximised all of the benefits and entitlements that you can avail of while making the minimum payment possible.

My Very Catalogue Debt Isn’t Going Down, why is This?

You may be making monthly payments to your catalogue debts at the minimum payment required, but this may not be the best option for you. Settling your debts at only the minimum payment is not the best practice because the minimum payment will not cover the interest of your debt.

When calculating and budgeting your payments, it is helpful to keep in mind that catalogue debts have an unusually high interest rate. Because of the interest rate, paying at only the minimum payments mean that your debts will keep on increasing instead and become a persistent debt when left unmanaged.

Can I Cancel Very Catalogue Purchases?

Most catalogue purchases can be cancelled 14 days after you have received the item. You can cancel the item when you are not satisfied with the product, when you feel like you do not need it, or when you realise that you cannot afford to pay for it.

When you want to cancel a catalogue purchase, you have to contact the catalogue company first to inform them. Then, you can return the item and pay the returning fee instead of paying for the full price of the item. Paying for the shipping fee may seem expensive, but it is the more favourable option instead of going into debt for an item you do not want or do not need.

Am I still liable for very catalogue debts?

If the catalogue company has been contacting you by writing to you, asking that you pay your catalogue debts, or if the catalogue company has a County Court judgment for the debt, then you are liable for the debts. You are also still liable if you are still paying for the catalogue debts. On the other hand, if the catalogue company has not contacted you in any way for the past six years, then you are not liable for the catalogue debts.

How can a debt adviser help me with my Very Catalogue Debt?

A debt adviser can help you deal with your debts. They can assist you in computing your budget and allocating your funds within a payment plan to pay back your debts. The debt advisers can also coach you on how to contact and communicate with your creditors to work out payment adjustments. Some debt advisors can also be the ones to negotiate with your creditors and the debt collection agency for you.

There are several things that the debt advisor may discuss with you to give you effective debt advice. First, they will discuss your income with you along with all of your expenses including household bills, your current living situation, and an outlook into your future financial circumstances. They will also discuss your creditors and the different debts you have to pay, including priority debts, any persistent debt, your credit card balance, and any existing catalogue debt. They will also ask about the catalogue companies you owe, unsecured debts, your monthly repayments, and your conversations with the debt collector.

Share all the necessary information about your debts such as the specific amount of the debt you owe to each and every creditor, the letters and conditions of each creditor, your bank statements for the last three months, and how old each of your debts are.

As much as possible, you should be open with your debt advisor so that they can also give proper debt advice and help you explore other debt solutions. You also have to be honest about the conditions of the debt, like if the debt originally belonged to a deceased parter or a spouse, or if you entered into the agreement without fully understanding the conditions of the loan.

Use: https://www.ageuk.org.uk/information-advice/money-legal/debt-savings/debt-advice/ as a source (see “How can a debt advisor help me?” heading)

Final Thoughts

The payments for Very can be steep with interest rates 34.9% APR. Whilst Very offer some attractive pay later options, it’s important to budget properly for these payments and make sure you can fulfil them.

However, as with so many people, catalogue debt is not uncommon and one of the best steps you can take to dealing with it is to seek advice as soon as possible.

Ready to take the first step to sort your very payment problems?

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FAQ's

I may not be able to pay my debts. Can I pay a minimum payment?

A credit card company will have a minimum payment amount that you need to give each month. This is the same with any catalogue company.

The minimum payment will be calculated based on what you currently own. It is usually around 1 to 3% every month, with a minimum payment amount of £5.

If you find that your payments are covering the interest and charges, but your credit card balance has not been decreasing for 18 months or more, then your debt is classed as ‘persistent debt’.

At this point, the credit card company may contact you and request that you increase your minimum payment. This is to help you get out of persistent debt.

Credit companies are also starting to change how they operate and increase the minimum payment. Again, this is to help prevent customers from persistent debt.

You can read more about persistent debt here!

One thing which is highly, highly recommended is to get a full understanding of your budget. Knowing how much you can afford to pay on your credit card and towards your catalogue debt can really help you become debt-free more quickly.

What happens if you don't pay Very debts?

Very is required by the Financial Conduct Authority to monitor all debts, in particular persistent debt.

The whole aim of this is to avoid customers getting into long term debts, or to help them get out of it.

Therefore, if you fall into persistent debt, then Very will be in touch.

If after 36 months nothing has changed, then Very will request that you have to take action to pay more than interest and charges.

Rather than having the option to pay the minimum monthly payment, Very will ask that you make an extra payment, in addition to this balance.

One thing to keep in mind is that the catalogue company will not show this additional payment on your statement, nor will it show up on your account. Therefore it is incredibly important that you read and understand any communication you receive from Very.

You do not want to miss that information!

Should you find that you aren’t able to make these additional payments every month, then Very will most likely suspend your credit account.

The knock-on effect of this is that you won’t be able to place any more orders with them.

Can bailiffs come for catalogue debt?

Yes, they can.

However, they aren’t allowed to force entry into your home – remember that!

Also, bailiffs are only allowed to come to your house between 6 am and 9 pm so be sure they only visit between these times!

A bailiff is not allowed to force entry into your home for catalogue debts, and you don’t have to let them inside.

In fact, try not to let them in, and don’t be bullied into doing so. You can try and sort the catalogue debt out over the phone or speaking through the door. Just keep them outside.

Another thing to remember is that a bailiff can come through an unlocked door so always make sure that your doors are locked.

What should I do when I have persistent debt that I can't pay?

The first thing to know is that your credit card can only be suspended if the persistent debt has gone on for at least 36 months.

A credit card company doesn’t want to suspend your card or credit account, so they only do it as a last resort.

However, if you choose to ignore them, which can be tempting (but not recommended), then you may find that your card gets suspended sooner.

As a way to prevent your catalogue debt from increasing, they may also choose to cancel your credit card if you are increasing the payments from the minimum payment.

These are all steps that are intended to prevent your catalogue debts from getting out of hand.

If you’re determined to get out of persistent debt, there are a variety of things you can do to improve your situation.

Speaking to credit card provider is a good place to start. Sometimes they are willing to suspend the interest rates and extra charges for a while.

Some people consider moving their debts to a bank or another card. If you’re considering this, then let your current provider know. They can sometimes offer you a better deal.

This may seem like an obvious step – but stop using that card. This is the simplest way to reduce the balance on it quickly. If the amount owed on it is only going down, then it means your debts will be paid off more quickly.

Another way, and possibly the best way to tackle catalogue debts, is to seek debt advice.

Debt advisors are able to find the best way for you to make the right payments and work out what your priority debts are. They can also deal with debt collectors on your behalf, and check whether you’re eligible for an IVA or similar debt relief assistance.

Struggling With Other Debts

Here are some other debt guides if you are struggling with different types of debts:

Debt Help

Speak to the debt advisor to check what debt solutions you have to help you consolidate debts into a single affordable monthly repayment.

Quick Links

Personal Debts IVA Debt Help Debt Management Personal Guarantee Debts

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