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Storecards - what happens?

jellygirl_2
Posts: 491 Forumite
Hi All:)
Anyone know what the OR does with stuff bought on storecards - i have one with Argos - balance around 700 - would stuff bought on it be reclaimed by the store?
Anyone know what the OR does with stuff bought on storecards - i have one with Argos - balance around 700 - would stuff bought on it be reclaimed by the store?
:j Goodbye debt - Hello sanity! :j
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Hi jellygirl, it cannot be reclaimed by the store, it is unsecured debt. I have a bit of the same worry though with a catalogue account but I am pretty certain they can't reclaim it. If it was an asset worth reclaiming, then the OR would have first claim on it anyway to sell to put the proceeds towards all the creditors. It should be fine, don't worry. and the OR is usually only interested in assets worth over £1000 from what I have read on here.BSC #215/No.1 Jan 09 Club0
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do argos/next, etc, do Rolex and Cartier?Now we all know how it felt to play in the band on the Titanic...0
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It cannot be reclaimed. You own the stuff bought from Argos and most store cards and catalogues - its all unsecured debt.
Now, somewhere like Brighthouse (boo... hiss...) is different as they own the stuff - you are paying on HP and technically they could reclaim.0 -
It cannot be reclaimed. You own the stuff bought from Argos and most store cards and catalogues - its all unsecured debt.
Now, somewhere like Brighthouse (boo... hiss...) is different as they own the stuff - you are paying on HP and technically they could reclaim.
Thanks - didnt think theyd want my fireplace back anyhow:)
thanks for clearing that one up:T:j Goodbye debt - Hello sanity! :j0 -
I think you'll find that the debt is owned by someone else other than the store that the card is with?0
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Make sure it is a store card and not on HP. Queen recently had to pay her OR for her computer that he wanted to take from her.
:j :j
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fiveyearplan wrote: »Make sure it is a store card and not on HP. Queen recently had to pay her OR for her computer that he wanted to take from her.
Thanks - its just a bog standard Argos storecard which can be used to purchase anything from their stores so I think going on what youre saying it should be ok.:j Goodbye debt - Hello sanity! :j0 -
Yep, should be fine.
:j :j
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