Mail Order Catalogues – Debt at Your Fingertips
Mail order catalogues are responsible for millions of people seeking debt advice as they are undoubtedly the easiest way of bringing the high street and the wolf to your front door.
The convenient option of being able to spread payments for anything from clothing through to washing machines is a strong temptation for those of us who are unable to afford to buy these goods outright. Catalogues tend to be much more expensive than the high street and many companies charge for delivery, so do shop around before opening an account.
It is also very difficult to keep a track of how much you have spent as £10 per month can seem quite reasonable, when in fact you actually owe £200 and the more you order; the higher and longer these monthly fees accrue. It is so easy to fall into debt with mail order catalogues as you can simply make a few clicks online and items are with you within 48 hours. As you are not charged for goods until a month after purchase, you can easily forget that you have not paid for them and order more items than you can comfortably afford especially with the ‘Buy Now, Pay Later’ options, it could be so easy to forget that you are in debt!
Be careful when purchasing large items from catalogues as more expensive items can be spread up to 150 weeks - these payment terms incur a lot of interest.
A mail order company should always issue you with a credit agreement which should be signed and returned. If you have never received such an agreement it will be impossible for them to take court proceedings against you if you should fall behind with payments. To check if you have signed such an agreement, request a copy in writing by Recorded Delivery so as the company have to respond rapidly to your request.
If you find yourself struggling to meet the debt repayment of a mail order catalogue, you should immediately inform the company in writing explaining your financial situation and detailing exactly how much you can afford to pay. You will not be able to order any more goods from the catalogue until your payments return to normal but it will keep you on good terms with the company.
Debt Advice News posted on 30/05/2007 14:57:53
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