Mail Order Catalogue Debt Advice
Mail order catalogues have been around in one form or another for a number of years. While many offer interest free shopping so you can pay for your purchases over a longer period, there are pitfalls that you need to look out for.
Some of the dangers of getting hooked on buying from mail order catalogues are given below;
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Controlling your spending – If you’ve got a few different catalogues at home and buy from them frequently, you may not be keeping track of what you’re actually spending. Even if the items are interest free, you’ll still have to pay for them at some stage and when you get your monthly statements through the post, you may well realise you can’t afford the repayments.
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Additional services – Every year we give debt advice to countless people who’ve taken out a loan or credit card from one of these mail order companies. The information they send you can sound tempting and offer incentives and discounts, but the interest rates associated with these products are usually very high which means you could end up struggling to pay back far more than the cost of your purchases.
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Funding your purchases – There are a few options open to you when funding your mail order catalogue purchases. If the company offers an interest free option then it makes sense to spread out your payments and pay by direct debit. If there’s no interest free option you don’t have the cash to buy the items outright then putting them on your credit card whether it’s with the same company or not, can lead to problems with interest and late fees further down the line.
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Are you getting the best deal? – While there’s no denying the convenience of being able to browse through a catalogue at home then make your purchases online or over the phone, you may not be getting the best deal. Using the internet to search for the cheapest price for whatever you’re buying could save you a considerable amount of money and is just as easy and accessible.
The best debt advice relating to mail order catalogues as with any purchases is to only buy if you have the money in your bank account to pay for the goods. This prudent approach can save you a lot of money and misery in the long run.
If you’re worried about any aspect of mail order catalogue debt and want to find a lasting solution, speak to one of our friendly advisors for debt advice you can trust.
If you would like more information,
ring Debtsolver now on 08000 434 336 (Free for UK residents only) or complete our
debt wizard to see if you qualify
