Finance Company administrarive error

grantmcw

I am looking for a little advice from some of you. I bought a laptop a couple of months a go & opted to pay for it over a year on finance. This last week however I received a letter from the shop explaining that due to an administrative error, the finance compnay have been unable to process the credit application.

I am understandably more than willing to help them with this, however I am concerned that they have all other details of mine i.e name, home address and even the agreement number. This makes me a little suspicious of the letter?

I am willing to aid where possible but also do not feel i should lie down for them,since two months of my 12 month plan has now passedthe agreement should therefore start from the date this issue is resolved.

Could anyone please advise me of the best way to deal with this problem as well as where i stand with regards compensation/repayment terms?

Anihilator

Why didnt you query no payments?

Fundamental to all finance agreements is that its the borrowers responsibility to ensure payments are made. I would imagine that they will reschedule the missing two payments over the remaining 10 months.

DVardysShadow

grantmcw wrote: »

I am looking for a little advice from some of you. I bought a laptop a couple of months a go & opted to pay for it over a year on finance. This last week however I received a letter from the shop explaining that due to an administrative error, the finance compnay have been unable to process the credit application.

OK, this can happen. Is this polite speak for your credit application being rejected?

grantmcw wrote: »

I am understandably more than willing to help them with this, however I am concerned that they have all other details of mine i.e name, home address and even the agreement number. This makes me a little suspicious of the letter?

So what exactly do you suspect? And whom? If you made the credit agreement in the shop, then naturally they will have these details.

grantmcw wrote: »

I am willing to aid where possible but also do not feel i should lie down for them,since two months of my 12 month plan has now passed the agreement should therefore start from the date this issue is resolved.

You should already have 2 months payments set aside, but other than that, I think you should still be paying over your original term.

grantmcw wrote: »

Could anyone please advise me of the best way to deal with this problem as well as where i stand with regards compensation/repayment terms?

You are a little coy about what the shop are asking you to do. Perhaps if you would clarify, you would get more useful responses