stranger to pay me monthly instalments, safe?

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2

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  • Robisere
    Robisere Posts: 3,237 Forumite
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    undlou wrote: »
    Thank you all, I will decline her request.

    Very wise. Let us know if the buyer comes back with the full payment? Or even does not contact you again, which would tell you all you need to know.
    I think this job really needs
    a much bigger hammer.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    First Anniversary Name Dropper First Post I've been Money Tipped!
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    As I assume you don't have a licence to offer credit, then not only shouldn't you do it BUT you can't do it.
  • robatwork
    robatwork Posts: 7,105 Forumite
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    10 monthly instalments of £120 is the way to go. Then send the dress.
  • Mcburneymandy
    Mcburneymandy Posts: 1 Newbie
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    No never put your trust in people you don't no
  • sourcrates
    sourcrates Posts: 28,938 Ambassador
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    undlou wrote: »
    Hello all,

    I have a wedding dress that I am selling to a complete stranger and she has requested to pay monthly installments. Is there a safe way of doing this?

    The total amount is £1,200.

    Much appreciated.

    :p

    Hi,

    Are you authorised and regulated by the financial conduct authority ?

    Do you hold a consumer credit licence ?

    I am guessing the answer is no to both, in which case when the customer fails to pay, you do not have a leg to stand on, and you cannot take them to court for non payment.

    Cash or no sale.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Moogles44
    Moogles44 Posts: 237 Forumite
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    I!!!8217;d keep the dress until she paid or don!!!8217;t at all. She would do better getting it on a 0 percent credit card offer
    If you don’t like a thread or post just move on by.

    Never a need to be ugly
  • System
    System Posts: 178,101 Community Admin
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    edited 15 March 2018 at 4:59AM
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    venison wrote: »
    As I assume you don't have a licence to offer credit, then not only shouldn't you do it BUT you can't do it.

    Utter rubbish. You don't need a license as a private individual selling something to someone on chuckie.
  • System
    System Posts: 178,101 Community Admin
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    sourcrates wrote: »
    Hi,

    Are you authorised and regulated by the financial conduct authority ?

    Do you hold a consumer credit licence ?

    I am guessing the answer is no to both, in which case when the customer fails to pay, you do not have a leg to stand on, and you cannot take them to court for non payment.
    You don't need a CCL to allow someone to pay for something monthly as a private sale.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Moogles44 wrote: »
    I'd keep the dress until she paid .
    robatwork wrote: »
    10 monthly instalments of £120 is the way to go.Then send the dress.


    So the OP keeps her sale on hold for 9 months (say) and then the purchaser wants her money back because she says she cant afford it now?
  • robatwork
    robatwork Posts: 7,105 Forumite
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    AnotherJoe wrote: »
    So the OP keeps her sale on hold for 9 months (say) and then the purchaser wants her money back because she says she cant afford it now?

    Then give her the money back - you've had it for 9 months. Better still draft a sale agreement that says you're entitled to keep 1 month if the contract isn't completed.

    If course we all know this is moot - the OP wanted to sell the dress now and possibly get paid in 10 months. Probably longer than the marriage will last.
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