Shop Direct Finance Company Ltd on My Credit Report! Answer

Are you asking, ‘why is Shop Direct Finance Company Ltd on my credit report’? Are you wondering if it’s a mistake? If so, you’re not the only person to find their credit rating downgraded because of this!

I explain who Shop Direct Finance is and why they’d hit you with a negative report on your credit history in my post. Check out the paragraphs below to find out more!

Do you have to pay Shop Direct?

You might not have to pay Shop Direct.

If you genuinely can’t afford your debt repayments then looking into whether you could have your written off might be just what you need. 

If you want to find out whether you qualify for having debt written off or payments lowered then fill out the short form below.

Who is Shop Direct?

The Shop Direct Finance Company Ltd is owned by the Barclay brothers. Their business offers credit lines to people who shop at several catalogue shops which include Argos, Littlewoods and Homebase. Shop Direct Finance recently morphed into The Very Group.

Is Shop Direct Finance a legitimate business?

Yes. Shop Direct Finance is a legitimate business and its parent company is Shop Direct Group which now goes under the name Very Group. So, although you may not recognise the name on your credit report, chances are you may have purchased something from Very, Homebase or another retailer partner.

Look what happened to one unfortunate person:

Source: Moneysavingexpert

Can you lower your repayments?

If you’re struggling to pay back your debt, then you might qualify for a debt solution.

Some solutions lower your monthly payments while others write off a portion of your debt. 

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Why Would Shop Direct Finance contact you?

Chances are you got a letter from Shop Direct Finance because you allegedly fell behind with payment. If you don’t make payments on catalogue credit, Shop Direct Finance would chase you for the money.

That said, letters you receive about missed payments could also come on Arrow Global letterhead. It’s the debt collection agency that Shop Direct Finance uses to chase debtors.

But other company names may appear on the letters you get to add to the confusion. For instance, the name of the company chasing you could be Debt Managers Ltd or Shop Direct Carval!

Whoever sends you a letter demanding payment, don’t ignore it.

First check who the money is owed to and whether the details are correct! Next, ask them to prove the debt is yours and do so in writing. Send the letter to the sender by registered post!

Can you stop Shop Direct Group from contacting you?

No. Debt collectors have the right to contact you over an unpaid debt/payment. But you can tell when and how they can contact you. Debt collection agencies must respect this request.

If they don’t and continue to call you when you asked them not to, it would be deemed as harassing behaviour. It’s against the law and you should report them to the Office of Fair Trading (OFT).

Should you ignore Shop Direct Finance?

No. Ignoring Shop Direct Finance would only make matters worse. Moreover, you could be missing out on resolving the situation so there’s a better outcome. For instance, ignoring their correspondence could result in:

• Not finding out the debt isn’t yours
• Not getting an affordable repayment plan if the creditor can prove the debt is yours
• Not having some of the debt wiped off

Then, of course, you may miss out on the fact the debt is statute-barred which means the debt collector can’t force you to pay. Plus, you won’t get issued with a County Court Judgement (CCJ) if the debt is at least 6 years old!

It’s worth noting that each time you default on a payment or ignore things, a creditor could report you to credit bureaus!

Hence, you could find Shop Direct Finance Company Ltd on your credit report.

Ignoring debt letters could lead to court action and the debt might increase so it’s harder to pay off!

What should you do when you find Shop Direct on your credit report?

First, go through your mail to see if you missed any letters from a debt collection agency about a catalogue or other debt! It happens and you may not have realised they were chasing you.

That said, if you knew about the letter but chose to ignore things, the best way forward is to contact the creditor. Try to negotiate a realistic and affordable repayment plan with them.

Whatever you do, don’t ignore letters from debt collection agencies because matters only get worse and harder to resolve! Plus, once a negative report is on your credit history, it stays there for several years.

Even when it is removed, it can take several more years to vanish 100%.

Can you dispute a negative credit report?

Yes. You have the right to dispute an entry on your credit report when it’s incorrect. First dispute the information with the relevant credit bureaus explaining why it’s wrong. You must provide proof to support the dispute.

What is the 609 loophole?

You may have heard of the 609 loophole which basically lets you correct an incorrect entry on your credit report. You have the right to dispute it by writing a letter to have the report removed.

What can Shop Direct Finance legally do?

There are things that debt collectors can legally do when they contact you. But there are things they can’t do too! For example, if you continually ignore a debt collection agency’s correspondence, a debt collector could:

• Visit you at home
• Talk to you politely and discreetly about an alleged debt
• Ask you to pay them directly

The things debt collectors cannot legally do when contacting you include:

• Visiting you at your place of work
• Discussing an alleged debt with your family, friends, neighbours, and employer which is a breach of the privacy laws
• Threaten or harass you
• Pretend they are bailiffs (Enforcement Officers) which is illegal
• Use legal jargon to confuse you
• Show you documents which appear to be court-issued when they are not!
• Seize any of the possessions or clamp your vehicle

Should you pay Shop Direct Finance?

You should only pay Shop Direct Finance when they’ve proved the debt is yours and that it’s not statute barred. So, first, ask them to prove the debt. Next, check if the debt is at least six years and that the following applies:

• You never admitted liability
• You haven’t paid anything towards the debt in the last six years
• There’s no current CCJ registered against you about the debt

Only when you’re happy the debt is yours should you fork any money over. Plus, try to negotiate an affordable repayment schedule. If you’re worried about a plan you’re being offered, seek advice from a debt charity.

Do not sign, admit or pay anything until you’ve sought professional, impartial debt advice. Debt collectors and credits must allow you the time to do this!

How do you get in touch with Shop Direct Finance?

I’ve listed the contact details for Shop Direct Finance Company Ltd (Very Group) here:

If you want to file a complaint against Shop Direct, you have to lodge one with the company before you can file a complaint with the Financial Ombudsman Service!

Lastly, Shop Direct Finance Company Ltd is on my credit report!

If you find a Shop Direct Finance Company Ltd on your credit report it means you’ve defaulted on a debt/payment. Chances are it’s a catalogue debt with a retail partner of Shop Direct.

You could dispute the report on your credit file by writing a letter proving it’s incorrect!

Thanks for reading this post. I hope the information helps sort out any issues you have with a debt and answers the question, ‘Shop Direct Finance Company Ltd on my credit report, what should I do’?

“It will only get worse” 😩

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