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NEXT Catalog - Irresponsible Lending

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  • NEXT Catalog - Irresponsible Lending

    This has got me absolutely fuming.

    Mrs SnV has a very small balance with the NEXT Catalog (less than 100) with a limit of a 200. She doesn't work and has been in arrears with them in the past and struggled to keep up repayments.

    This week she gets a letter from them. Because she's such a good customer (so they tell her), here's an increase of your credit limit to 3250. Unless she calls them to decline it will be automatically applied to her account in the next 28 days.

    I kid you not - a credit increase of 3k given to someone who has a history of arrears, no income, no way of paying this back. WTF?!

    This sort of thing makes my blood boil, its completely reckless and irresponsible lending - where the hell are the affordability checks or anything closely resembling them?

    I know there's the personal responsibility argument, but there's also corporate responsibility too, and this is a perfect example of a company not taking any responsibility at all but instead leading someone into debt misery.
    "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

    The consumer is that sleeping giant.!!



    I'm an Official AAD Forum Moderator and a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of allaboutDEBT Ltd. Any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - find a solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it to abuse@all-about-debt.co.uk or send a message to any of the Forum Site Team. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username or send me an email direct: saltnvinegar@all-about-debt.co.uk

  • #2
    I had a 9k credit limit on very. I wrote to them and told them I had very little income and that I didn't want it to be any higher than 2k and they reduced the credit limit. It's been about a year and it's not gone back up...... yet!

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    • #3
      They are all at it! Next have on a couple of occasions dropped my credit level to a few hundred only to increase it to 5k. All the sub prime cards whack them up complete with their 40 - 50 % Apr. Irresponsible lending to often vulnerable people. You can say no, but when there is a big expense or desperate situation you spend and regret again.
      I'm an Official AAD Forum Moderator and a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of allaboutDEBT Ltd. Any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - find a solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it to abuse@all-about-debt.co.uk or send a message to any of the Forum Site Team. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username or send me an email direct: cymruambyth@all-about-debt.co.uk

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      • #4
        I have 2 littlewoods accounts, (Empire & Kays) both opened last century, one has a limit of 10,500 the other is 10,000, I do not work and when I did I only brought in 4,000 a year,
        so I don't think they look at what income you have, only what debt they can get you into.
        As Cym said if you are desperate for something you will use it and think WTF have i done.
        I only have a small amount owing on one of them but they keep sending "offers" to buy now pay later on items over 100, intrest free if you pay in full by 12 months, otherwise twice as much as it cost you over x amount of weeks,

        another thing that is annoying is repayments are 4 weekly, most people now get paid monthly, this means that every so often you end up paying twice in one month, think it's time they changed to xxx amount per month
        I'm an Official AAD Forum Moderator and a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of allaboutDEBT Ltd. Any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - find a solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it to abuse@all-about-debt.co.uk or send a message to any of the Forum Site Team. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username or send me an email direct: nightwatch@all-about-debt.co.uk

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