Catalogue debt is now a bigger problem than payday loans according to debt charities. The Citizens Advice charity has recently said that it received 62,000 calls for help regarding catalogue debt in 2013, compared with 61,000 requests with people had with payday loans. The problem seems to be the have now, pay later schemes they offer and the ease of qualifying for these deals. Together with the fact that you can spread the repayments over 3-5 years, these are dormant debts that come back to bite the consumer in times of hardship.
Catalogue debt is classed as a non-priority debt, so you can address it in the same manner as payday loans and credit cards. What I mean by that, is by contacting them directly to explain your in hardship and have no means in repaying back the debt. In these situations write down all your outgoings and expenses and present to them you can’t pay gas, electricity and food at the moment, so can you go on a repyament plan of a minimum amount every month.
If you can’t pay Shop Direct then I would suggest the following
This company in particular, never gives up chasing you for the debt. Calling mobile, sending letters, contacting your work, their new tactic is tracing you on social media and messaging friends/family to embarrass you into paying. So beat them at their own game, I’ll share with you a company I used when in debt, that hates these companies as much as me, but more importantly can get rid of this debt for you before the end of the month. Check them out here
Now Catalogue companies as a whole don’t adopt the bully boy tactics of payday loans when chasing back what you owe, but obviously after a certain amount fo time they will enforce the debt collectors after you to chase the debt.
Send a letter to the company explain your situation and a date when you can commit to making the first payment back to them and ask them if you can stop paying the interest on them as well. As long as you keep to the arrangement you will find the catalogue companies are much friendlier than the payday loan companies.
Below is an example of a letter to send to them;
Name of creditor
Re: Account No…………
I regret that I am unable to maintain my current monthly payments because ……… explain your reasons.
I am writing to all my creditors requesting details of the balance outstanding on my catalogue debt and would be grateful if you would let me know how much I owe you. Once I have obtained this information, I will contact you again with a repayment plan I am confident I can keep with
At the moment I am eve finding it hard to pay the priority debts I owe
Meanwhile I would be really grateful you were prepared to hold action on my account for two months and suspend interest and other charges to prevent my indebtedness from increasing.
Shop Direct. Do not pay them back, read why here
Check them out here
Email us if you have any further questions at all.