No longer able to afford payments very

[sixoe]

Has anyone else came under this

I was able to afford then kids dad really messed me over with money

I'm due a payment I can't make
I had month payments each month I could afford to the amount of 5,000

If I miss this one month am I in debt for the entire amount of 5,000

Is there anything I can do?

Is this normal?

Do I get ahead before I miss it and apply for something like das? I think it's only in Scotland. It freezes your debt. Damages credit score a little bit it's monthly repayments minus the interest

I basically just want someone to say they've been through this too and everything will be fine.

I'm a council tenant. Will this affect my tenancy?

Is this very the catalogue? Are you making the minimum payment?

@MyGooseisTotallyLoose yes I was paying in full each time

I can't make the next payment

Can't you speak to them? They may be able to hold off the payments for a month or so.
Are you making minimum payments?

@BananaHamster yes I've always paid in full

I'll attempt asking for another month but do they do that?

You can pay it monthly op, you don't need to pay it in full each time you use it.

Can you not afford the minimum repayment? Are you saying you owe £5000 to very this month?

What is your minium payment?

So we're you paying the full payment each month or the minium suggested payment?

@TeaKitten no not in one month. In total

It's divided over 12 months. Some months being like £400 others less and more etc

I can't afford this month

It's not really for minimum payments
It's buy now pay later

Then there's take 3 which I also have. That has minimum payments.

With buy now pay later- they say how much interest each month would make.

@BusterGonad paying full of each buy now pay later and take 3

I've yet to miss a payment. But I know already I cannot afford it

@TeaKitten I think OP is saying the total amount owing is £5000, that she pays the minimum amount each month but can't afford to this month and is worried that if she misses this payment she may be liable to pay back the whole amount all at once.

You can perhaps change from paying in full to paying minimum payment for a couple of months just till you get your situation sorted. Then pay it off.

Just try not to buy anything else meanwhile.

The best thing you can do Op is contact them and tell them that you are in financial difficulties, really they should listen to you and hopefully come up with a payment plan. Do not offer an amount that you cannot afford. If its £20 then it's £20. Only offer what is affordable and doable.

@BCSurvivor yes I've been told it all becomes due with interest which obviously I couldn't afford

If it only becomes interest on this month then I'd be fine

But I've been told by others on Mumsnet it's the whole £5000 and the interest if j miss this payment.

Buy now Pay Later do you have to actually pay a minimum amount or can you pay the whole lot in 6 months and incur no interest? Double check. If you can put off paying for 6 months without incurring interest pay back the other debts and then the Buy Now Pay Later.

Are you able to get a 0% interest credit card and pay it off and then not use a catalogue until the credit cardis paid off or alternatively a low interest loan instead of defaulting.

@BusterGonad is my best option then if they say no to go through debt agencies (Scottish oens are really good)
They freeze interest and will let me say what I can afford
Dips credit score but if I can't afford this anyway it will dip it too

@Singleandproud never thought of that I will try that. I am running out of time

How quickly can I get a credit card?

Before catastrophising read through the paperwork and contact Very. It's pointless worrying about the future when you don't fully understand your situation

That is a hell of a lot to owe to a catalogue. I would contact them and see what they can do for you. But also stop buying stuff from there and reduce that debt asap.

They will probably negotiate but you can get citizens advice or stepchange to help. They won’t argue with them so much.

They won’t be able yo do anything awful like demand you pay it all at once, don’t worry. But do sort it.

How do you owe them so much? When I looked the limit was 1500

They start you at that but it is very easy to increase your limit if you use it a lot and make payments on time.

OP ring and speak to them. I'm sure they will be understanding as you won't be the first who can't make a payment at times.

I've got a £2800 limit on mine and £5000 limit on Next account.

I had this situation and they were really helpful when I called and took a reduced payment. They did freeze my account though so I couldn’t get into any further debt.

Helpful.