finance agreement for a television

lucyparker2001

problem is now sorted out

wishiwasarichgirl

lucyparker2001 wrote: »

PLEASE PLEASE CAN SOMEONE HELP ME AND TELL ME WHAT TO DO?
XXXX

pay for the TV you bought?

HardSpend

basically you want to get away without paying for the TV?:) Fair do's. You mean June 2008 right. Who did you pay the £300 to, who were you expecting to pay the £1700 to?

Diesel44

Did you not have to give them your bank details.
We had a similar interest free deal ( 12 month) when we bought our 3 piece suite, we had to give the retailer our bank details as well.
We never received any correspondance from the finance company and had to phone them to find out how to pay the balance. The retailer gave us the details of the finance company.
I don't trust these intersest free deals, ours was not due to be payed until November 2009, but we made sure we paid the balance in March 2009.
Looks like your going to be paying the interest on the balance i'm afraid.

The_Pedant

If the credit agreement was returned back to them & the store or credit agency did not chase you then, I would imagine that they are still within their rights to pursue the payment of the amount, if they never received it from any credit company, as a result of a credit agreement.

There is normally a period of 6 years for anyone to stake a claim on any due amount.

If the agreement did not go through, then I would request a letter from them, detailing the original transaction and stating that no credit agreement was processed from them. In either case, if they are calling, I would request that they put the details initially in a letter so that you can properly check the details and have their request on file.

As a gesture of goodwill, I would then expect a reasonable grace period to allow alternative arrangements to settle the amount to be made, possibly even asking them if they have any current credit facilities available (as after all, it was their mistake that led to the current situation).

That, to me would be the best for both sides, given the original error.

hundredk

lucyparker2001 wrote: »

I really hope someone out there can help me and tell me where i stand with this situation.

I bought a television from a leading retailer in june 2009 on a 9 month interest free deal, the television was £2000 and i paid a £300 deposit upfront so in 9 months time i would have to pay the remainder of the balance £1700.

The finance agreement was with a seperate company and not the retailer. I knew it ran out in March 2009 so in February i startd to wonder why i hadnt had any letters from either the retailer or the finance company to say when it had to be paid by. i managed to find a number to contact the finance company about it and when the member of staff checked it on the system they said that i had no finance agreement with them. What had happened was that the retailer had sent over my details to the finance company and there was an error on it so they had sent them back to be ammended to the retailer. The retailer never sent anything back to the finance company and they then said to me basically that ccome the end of march it will "fall off thier system" so not to do anything, which i did.

Now 2 days ago out of the blue, the retailer had called me regarding the tv. they left a message for me and i havent yet called them back. I have never recieved any letters or any correspondence from the retailer or the finance company saying i owe the money, just this call out of the blue, 7months after the agreement ended and 1 year and 4 months after i bought it

i have no ide where i stand because it was such a long time ago. Technically i know i never paid for the televison and i dont actually know if that is what they are calling about but i really need some advice on where i stand with the situation as obviously i dont have the balance sitting around to pay it off!!!

So you had the £1700 ready to pay in March 09 right? Then a finance company tell you that you have no agreement with them due to an admin error and you subsequently think you do not owe the £1700. How difficult would it have been to contact the retailer and pay up? I wounder why it is so obvious you don't have the money sitting around?:rolleyes:

lucyparker2001 wrote: »

PLEASE PLEASE CAN SOMEONE HELP ME AND TELL ME WHAT TO DO?
XXXX

When the baliffs catch up with you tell them it's not your TV, it's the stores

molerat

When I worked in retail using similar finance deals I was told by the person from our HO that managed the finance that in these situations it was up to the goodwill of the customer if they paid. That is why it was very important for the agreements to be completed 100% accurately. The finance company know the score with a non compliant agreement so they will just bounce it back to the retailer. The retailer should have contacted the op and got a corrected agreement sorted and back to the finance company by 90 days ? after the original signature date or they will void their agreement with the retailer. The customer has agreed to pay the finance company the money and not the retailer. The finance company are not interested so the retailer loses out.

Morally wrong but that is the way it will likely go. I don't remember any of these going to court. The company I worked for budgeted a fair amount each year for this scenario.