Mail Order Debt

Money Advice Service

 

The UK Insolvency Debt Advice Service offers debt advice and help service in the UK to consumers with unmanageable debt. The service is confidential and non-judgemental. This new section of the site provides information on how to deal with mail order debt and the issues that can arise from the mail order sector.

Debt resulting from mail order in the UK in 2006 was over £5 billion which shows how easily mail order can lead to financial difficulties. Callers must be assured that if they contact The UK Insolvency Debt Advice Service about mail order debt then all their information will remain confidential from the mail order providers.

The team can help in just some of the following ways:

• Debt advice relating from mail order shopping.
• Debt advice for mail order debt issues.
• The advice team can help you you if you have a bad credit history, arrears or CCJ's relating to debt from mail order.
• We can help you find out more about debt management as a solution for debt from mail order.
• The money advice workers can help you find out more about IVAs as a solution for debt from mail order debt.

The public must be made aware that the mail order industry is a massive industry that carefully targets its customers by writing highly effective adverts to entice customers to buy their products. The UK public are very vulnerable to mail order debt mainly because UK residents are keen on shopping with ease.

Mail order shopping is usually arranged through a catalogue and is normally interest free, the customer paying only the price of the purchase in installments. However, goods bought in this way may be more expensive. If the goods are bought from a mail order catalogue agent, the agreement may say that it can be cancelled within 14 days of the agreement being signed and no cancellation notice

You may also have a seven day cooling off period when you buy goods or services through what is known as a distance sale. A distance sale is a sale by telephone, mail order or the Internet. Again you do not have to pay by credit to have this seven day cooling off period. Making purchases from mail order catalogues can lead to debt problems if you do not keep up with your weekly payments.

Many mail order companies allow you to spread the cost of purchase by making small weekly payments over a fixed period of time. However this is an expensive way to buy on credit as the mail order companies often charge very high interest rates. This makes the costs of borrowing on mail order very high and as a result it can lead to debt problems if you do not keep up with your payment installments.

We receive 1000s of calls each month from clients facing mail order debt. Mail order debt is unsecured debt so it is very simple to deal with. The money advice advisers are specially trained in dealing with mail order debt and as such can assist callers quickly and efficiently.

Common questions arising from mail order debt are the following:

• Long and short term credit - how can mail order debt affect my credit rating?
• How do I prevent mail order debt from affecting my dependants?
• I don't want to become bankrupt. Can I prevent mail order debt causing this?
• If I consolidate my mail order debt, would that be a wise move?
• Now that we have divorced, how do we share the mail order debt out and sort out the bank accounts?

The UK Insolvency Debt Advice Service is an established money advice provider in the UK. The service offers non-judgmental and confidential advice. Call 0800 074 6918 for advice.

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