shop direct debt

[malky1]

Hi all,im new to all this,i ran up a debt of around £6000 with shop direct.About a year ago this was and shop direct were wanting £280 a month.i could not afford this so they put me through to shop direct financial services and they set up a payment plan of about £231 a month which was a lot better than the original figure.Shop direct had added interest of about £3000 on top of my £6000 owed.I have paid this amount for roughly about a year and was only late with one payment which has affected my credit rating,now im finding it difficult to keep up the payments.I have phoned them up to explain but they keep saying my payments are not in arrears so there is nothing they can do.A year has past now and i still owe £6000.

[miliitant]

Re: shop direct debt

did they send anything in writing when they agreed the reduced repayments

it is normal for a creditor to freeze interest, or freeze interest for a set period of time to allow you to catch up

its called an arrangement to pay

[malky1]

Re: shop direct debt

yes i had to sign an agreement which i totally regret doing,but i was confused with it all

[miliitant]

Re: shop direct debt

signing an agreement is fine, its the terms in that agreement that matter

do you still have a copy of that agreement

[malky1]

Re: shop direct debt

not sure,it was about a year ago,sorry

[malky1]

Re: shop direct debt

will try and look for it

[miliitant]

Re: shop direct debt

please do or you will need to do a subject access request on shop direct

[malky1]

Re: shop direct debt

What if i find the agreement letter,what next

[miliitant]

Re: shop direct debt

it is not the credit agreement that i am after

it is the agreement to reduce your repayments

if you find that agreements, i need to look at the terms of that agreement to advise or i am shooting in the dark

[malky1]

Re: shop direct debt

Sorry for the confusion.i ran up the debt with additions catalogue,when struggling to pay this i received statements from littlewoods to pay the lesser amount.its my credit reference agency that says shop direct.i know they are all linked.I can only remember signing something for the changeover of debt, but dont recall an agreement to reduce my payments

[miliitant]

Re: shop direct debt

we will have to ask why they are still charging interest when you are on a debt management plan

what is the apr

i bet its near 35 % apr

can you confirm as its ammo we can used

[malky1]

Re: shop direct debt

not sure again but this debt was for 3 years,so it could be near 45-50% apr

[miliitant]

Re: shop direct debt

thats what we will use

the apr will be on a statement if you have one

[malky1]

Re: shop direct debt

The £231 was to be paid over 3 years to clear it all

[malky1]

Re: shop direct debt

sorry there is no apr on statement