Published on July 26th, 2016 | by FinanceLoophole0
Can’t Pay La Redoute Catalogue Debt
La Redoute is famous for bringing French Style to the UK in the form of its large French based mail order fashion catalogue, The company now has more than 10 million active customers across 26 countries. Having French style can however be a bit of a burden if it also comes along with catalogue debt when you discover that you are unable to pay your La Redoute catalogue bills on time.
Problems Paying La Redoute Style Account
Most of the problems people come to us with are related to the La Redoute Style Account. La Redoute now have 300,000 customers using this credit account. The Style Account is a credit account which is available subject to acceptance to UK residents aged 18+ and comes with a high interest rate of 34.9% APR. With a Style credit account payments are due 21 days after the statement date. Of course if you have a change in your personal circumstances you may not be able to pay back the full amount each time (with a 5% of outstanding debt minimum payment it’s too tempting not to) which can lead to a spiral of missed payments, late payment fees and interest rate charges being applied to your account.
The smallest monthly payment will be the greater of :-
- 5% of your outstanding balance or
- Interest, insurance and administration charges on the current statement plus 1% of your remaining outstanding balance.
Style Account Example: cash price and amount of credit: £300, Representative 34.9% APR variable. When you apply for a Style Account La Redoute will conduct a credit search with credit reference agencies.
La Redoute Catalogue Credit Problems
Catalogue companies like Le Redoute offer shoppers the opportunity to spread the cost of items such as clothes, household appliances and furniture over a period by offering them credit. The privilege of not having to pay upfront can be expensive depending on how long it takes you to pay back the original purchase. La Redoute shoppers pay 34.9 per cent – while not being the highest rate of interest among the online catalogue shops it does still posses significant hurdles to Le Redoute customers trying to pay off their catalogue debts.
There are a lot of things you can do to stop yourself getting into problems with catalogue debt – prime among these is to watch what you are spending closely. Make sure you stick to your budget and don’t get sucked into debt by special offers. It is very tempting to buy lots of great stuff – and indeed many of the companies urge you to do it by offering credit where you only need to pay off the smallest amount each month. While you only need to pay the least they will charge you for the service by putting interest onto your outstanding bill. Have no doubt about it – you will have to pay the full amount off at some time in the future, and with interest running at 34.9% the longer you leave it them more it will cost you.
People come to us to saying that they are making much more than the minimum payments but their outstanding bill is not going down – in fact the bill is getting larger!
What Should I Do If I Cant Pay My La Redoute Bill?
The first thing to remember is don’t panic or do something you regret. You are not alone – we can help you to get out of your La Redoute debt quickly if you follow a few simple steps.
- Contact your creditors to who you owe money and let them know you cannot make a payment – before you miss the payment
- Stop using all credit facilities. This will make sure that your debts are not being added to.
- Draw up a budget to see where all of you money is going – prioritise payments for things like rent, mortgage, food, bills. Cut out luxuries until your debt are cleared.
- Look to see if you can increase your income to pay debts Perhaps rent out a room, do a part time job, get more hours at work.
Once you have done some simple things yourself you may want to look for extra help if you have multiple debts or the amount is getting too much for you to handle. If you have a simple debt problem then the free services offered by the CAB or other debt charities may well be able to help.
If you have complex debt issues then you are likely to be better off using a debt management service and not one of the free services as they will manage you account more effectively than a free service can. With your La Redoute debts being manged for you will find almost instantly that the burden of debt will fall away. We have had good reports about the debt management services offered by BrightDebt – just fill in this form with your details and they will get back to you.
What Happens If I Cant Pay My La Redoute Bill?
Unfortunately when it comes to chasing debt La Redoute are not very stylish. They will chase you relentlessly even for the smallest of sums, and they are quite rapid at selling your debt to a debt collection company.
They will also add late payment fees if you miss a payment of £12 for each missed payment.
Should you fail at any time to keep your Le Redoute account in accordance with their terms they are likely to charge you any costs they incur to get the money back – this will not exceed £12.00 for the following: send a reminder letter or other communication, bounced ‘refer to drawer’ cheques and other failed payments, and transfer your account to a debt collection department or agency. Before they refer you to a debt collection company they will send you a default notice which will demand full repayment of the outstanding balance on your account.
You can see that the charges can soon add up once you start missing repayments with La Redoute. This can often make a difficult situation even more uncomfortable as you see your debt increasing to a stage you can find difficult to pay off. The main thing you need to do is to seek help before the situation get s out of hand and before your debt gets sold onto a debt collection company.
Making A Complaint About La Redoute
In the fist instance it is always a good idea to make your complaint directly to La Redoute – to let them put the problem right.
Put your complaint in writing and send it to:
The Complaints Team
LRUK (Retail) Limited
2 Holdsworth Street
Tel: 033 0303 0199 – 9am-5pm Monday-Friday.
If you still can’t get anywhere you can get to them on twitter. Just follow the company on twitter at
@LaRedouteUK – compose a well worded tweet telling them how rubbish you have found them follow with the hastag #customerservice – others are likely to retweeted – not something most companies like.
If you have a problem with a La Redoute Style Account you need to call their customer care team on 0330 303 0199. Their lines are open Monday to Friday 8am-9pm and Saturday 9am – 4.30pm.
If you are not entirely happy with how they handled your complaint or the result, you can complain to the Financial Ombudsman Service. The Financial Ombudsman Service can be contacted at;
Financial Ombudsman Service
London E14 9SR
telephone on 0800 023 4567 or 0300 123 9123
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