Major help required with a buy now pay later issue

jidi19

Firstly sorry if I have posted this in the wrong section however I've had a read through and this looks like the best place for my query to go so here goes the scenario:

Purchased a sofa in May 2006 on buy now pay later 12 months 0% interest free credit

Payment date comes of 25/05/07 – cheque was posted to company and by 11/06/07 Cheque cleared

In meantime company say their credit agreement kicked in as payment wasn’t cleared till 11/06 so for 17 days inbetween they are charging me the remaining credit agreement of 29.80% interest on £1178.00 over another £1000.00 even though they banked my cheque! They then went onto charged me 2 direct debits of £73.86 for 2 months even though I was told it was a clerical error and would be sorted end of.

Having heard nothing for over 18 months I assumed the fiasco had been sorted only to find to my horror 18 months down the line a letter requesting £1622.24 payable to creation financial services!

After numerous letters to and from I’m getting no where and really do need some help or advice. Have spoke to the CAB who advise me to send further letters or go to the FSO but seem to be getting no where. In addition to this the company I had the sofa from – land of leather – went bust!

Any ideas how I go about tackling this would be very much appreciated!

Thanks in advance to listening to me rant!

TonyMMM

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Payment date comes of 25/05/07 – cheque was posted to company and by 11/06/07 Cheque cleared

[/QUOTE]

With arrangements like these it is vital that the payment is made to the company, and cleared by the payment date - when exactly did you pay, and how (post, in person etc.) .

They rely on people getting the payments in late to trigger the huge penalty/interest charges to make their money.

milliemonster

Yes exactly, the payment needed to have completely cleared by the payment date so your cheque should have been sent early May to ensure this.