Buy As You View

janiewai

I stupidly got a TV from this company 22 months ago on a 3 year HP agreement, its a 37" HD TV with stand and the cost was £2,112 yes I know you can buy them for £350 thats why I am stupid!

Anyway we have never been in arrears and it says on the credit agreement after I have paid half I can hand the TV back, in January I am due to get some money from a pension fund and I rang the company and said could they please take the TV back in January as I have paid half, oh no you havent the woman said, I replied I must have its over 3 years and I have done 22 months already in January/February thats 24 months, she asked if I wanted a settlement figure and thats just come in the post and I still owe £1,692 and my settlement figure is £1,231 so I have been paying £145 every 8 weeks for almost 2 years for nothing! There is no way that figure will be paid off in Feb 2010 when the agreement is supposed to end, I called them and she said its correct and its interest thats added. To be honest I dont trust nthe collectors as lots have been sacked for fraud, I know to the pound whats in my box when they empty it and tell them so.

I have decided that they can just come and reposess the TV I dont care, I know someone who only paid 2 months on theirs and that was 18 months ago and no-ones been near since!

Beware fo this company dont be stupid like me!

pinkshoes

Have you asked them for a full breakdown of the actual TV price, and finance agreement? What % rate was the interest at?

If the TV was £2112, and you've been paying £145 every 8 weeks, then that would be a total of £2827 over 3 years, so an % rate of around 35%!!! (So of your £145 payment, £37 of this was interest). You must've signed something agreeing to this? Check your paper work!

The settlement figure... if you've done 22 months, then you only have 14 months remaining, so the interest for those 14 months is around £275. The only thing I can think of is that the % rate you agreed to is MUCH higher, and you agreed to pay a huge lump sum in the last month!?!?!

Ask them to see the signed paperwork, and take this along to the CAB, who will no doubt advise you to contact trading standards.

DO NOT agree anything with this company at the moment!

janiewai

I have the paperwork in front of me now

Amount of credit £1349.98 Term 156 weeks
Total amount payable £2212.08 APR 40.20%

Interest £812
Arrangenebt fee £50
Total charge for credit £862
Warrenty £240

Each 8 weeks they take £145 from my box religiously I didnt say I would pay a large lump sum at the end

Its a right royal rip off, it says they can repossess the TVunles I have paid £737.36 if I have paid more they have to get a court order

h4zel

OMG ...........why would you pay £145 a month for a TV?!!!!!!!!!!!!!

janiewai

h4zel wrote: »

OMG ...........why would you pay £145 a month for a TV?!!!!!!!!!!!!!

145 every 2 months its cos I couldnt get credit, my old TV blew up and thats the only place I could get one and stupidly enough I did, wont ever go down that route again, even that brighthouse are cheaper than BAYV

kitschkitty

janiewai wrote: »

145 every 2 months its cos I couldnt get credit, my old TV blew up and thats the only place I could get one and stupidly enough I did, wont ever go down that route again, even that brighthouse are cheaper than BAYV

use freecycle - you might not get a 37" HD TV but you'll be watching a TV for free* without all this hassle!!!! heck then you can save up for a few months/ till you afford something better and not miss out on your fave TV shows!


*Well OK so there's the licence fee but you know what I mean!

janiewai

I am telling them to come and pick it up and see what happens, looking on the net a lot of people are disatisfied with the service etc, never again will I do this

Butlers1982

145 every 2 months its cos I couldnt get credit,

That explains the high APR then

To be honest I dont trust nthe collectors as lots have been sacked for fraud,

how do you know or is that what youve heard on the grapevine. . .

janiewai

I get a different collector each time apart from the same one 3 times running and when I ask where they are its always oh they were fiddling

pinkshoes

janiewai wrote: »

I am telling them to come and pick it up and see what happens, looking on the net a lot of people are disatisfied with the service etc, never again will I do this

Don't get them to come and pick it up until you've sorted out what you ACTUALLY owe, and they've broken it down for you!

SO:

£1349 TV
£812 Interest
£50 arrangement fee
£240 warranty

TOTAL = £2451 (so £15.71 a week in total)

Firstly, this equates to £125.69 every 8 weeks, so why have you been paying £145?

Secondly, if you’ve paid for 22 months, you have 14 months (60.666) weeks to go. The interest portion of this remaining 14 months is 60.666 * (812/156) = £315.77.

Where have they got their settlement fee from???

janiewai

I wish I knew, I copied it all from my original documentation and got the settlement fee today, they say I still owe £1,666!

I rang and the woman says its all correct, dont know why they take £145 but they have done since I got it the whole thing stinks

The person I was talking about before is actually my son, he got his TV first and only paid 8 weeks, then he took the box off! At times I am ashamed of him but anyway only 2 people have knocked and they havent heard from BAYV since, just reading some stuff on the net, one guy took his box off and told them to collect and they took the TV and wrote the amount owing off, tyou could get 5 TV's for what you are paying and its not even a good make