Very Catalogue debt

[Louise1987]

Hi I hope someone can help me or give me some advice at Christmas I brought my daughter a bike from very it cost £250, I had it on credit and I thought I could keep up with the payments but I haven't and can't im also in alot of debt with other companies and don't know what to do

[Amethyst]

Hi Louise,

Do you know what terms you bought the bike on ? Normally there's an interest free period while you make monthly / weekly payments - I think it is 7% or £5 of your balance each month to keep it from going into charges/default - so about £17.50 a month ? Is that about what they are asking for or have you already missed payments and charges are starting to make it even harder to keep up? These things can easily snowball so it is best to try and get some advice to get things workable long term before anything gets out of control - maybe a call to Stepchange or an appt with Citizens Advice would help and enable you to go through your income and expenditures and see what you realistically have available for creditors after the essentials ( rent/mortgage/water/gas/council tax/food etc ) have been paid and see if you can put a plan together with them.

Stepchange is https://www.stepchange.org/ and they have a good debt remedy tool you can use to get an idea of where things stand.
Citizens Advice have their own online tool if you'd rather go through things yourself - https://nedcab.cabmoney.org.uk/ or you can try get an appointment with your local bureau to talk things through.

There will be options, and either can talk you through them, it might just help to get everything written down and a budget sorted out if things are feeling a bit out of hand and you're not sure where you stand xx