6 months 0% then stung for £700 on £399 loan ouch!

watchsapart

We bought a TV for £399 last Christmas from Bennetts Electrical. It came with 0% finance for 6 months. I duly sent off the cheque in May for the full balance, and to be honest thought no more.
We received a statement this week. Apparently they have been taking £31 a month. I am now on a 4 year finance deal. If I want to cancel it there is a £700 early repayment. If I keep paying its 32.4% APR. Finance is via Creation finance. Tried speaking to them on the phone, they deny receiving cheque/ I have no proof of posting, couldnt get anywhere.
I do realise I have been rather dippy in not realising cheque wasnt cashed, and not noticing the payments.
What can I do? Any advice much appreciated.

eschaton

watchsapart wrote: »

I duly sent off the cheque in May for the full balance, and to be honest thought no more.

I do realise I have been rather dippy in not realising cheque wasnt cashed, and not noticing the payments.

What can I do? Any advice much appreciated.

In future - actually pay more attention to your bank account.

You seem to be dippy as you say - maybe even thick ?

michael1983l

eschaton wrote: »

In future - actually pay more attention to your bank account.

You seem to be dippy as you say - maybe even thick ?

Yep thats right, Martin set this site up so people like you could lecture people. IDIOT

MarsdenCuckoo

Isn't the purpose of this forum to try and help the OP rather than abuse each other? :mad:

OP; sorry to hear about your demise but can't honestly see there's anything you can do about this (other than be more careful next time). Suspect this is how such companies increase their profits i.e. by offering supposedly cheap finance deals, which then turn out to be very expensive unless consumers follow the deal exactly.

eschaton

michael1983l wrote: »

Yep thats right, Martin set this site up so people like you could lecture people. IDIOT

That's right, defend the indefenendable.

I'm right into money saving - but it needs brains and common sense.

michael1983l

eschaton wrote: »

That's right, defend the indefenendable.

I'm right into money saving - but it needs brains and common sense.

Wether you were thinking it or not you have acheived nothing by saying it. If you didn't want to help out the OP you should have said nothing at all.

watchsapart

Would appreciate any advice. Fully realise I have been dippy, had a lot going on, need to keep a much closer eye on my account. Must admit a little hurt at being called thick, is that OK on this forum?

michael1983l

watchsapart wrote: »

Would appreciate any advice. Fully realise I have been dippy, had a lot going on, need to keep a much closer eye on my account. Must admit a little hurt at being called thick, is that OK on this forum?

No it's not ok and the person was out of order. Not everybody is good at handling finances and it doesn't mean you are thick because you have overlooked something. Just ignor them. I can't help you out with advice regards your problem though i'm afraid. If they never cashed the cheque then I don't think there is much you can do.

Jay_Tee

watchsapart wrote: »

Would appreciate any advice. Fully realise I have been dippy, had a lot going on, need to keep a much closer eye on my account. Must admit a little hurt at being called thick, is that OK on this forum?

I agree that the personal comments were rude, crass and totally uncalled for, and totally unsuitable for a forum where people come to ask for help.

[Deleted User]

eschaton wrote: »

That's right, defend the indefenendable.

I'm right into money saving - but it needs brains and common sense.

not to mention good manners:cool:

Rob71

watchsapart wrote: »

Would appreciate any advice. Fully realise I have been dippy, had a lot going on, need to keep a much closer eye on my account. Must admit a little hurt at being called thick, is that OK on this forum?

Not being funny (and no, I'm not about to call you thick!), but have you tried calling them up and giving them merry hell?!

You mailed them a cheque - in future do it by debit card. Any proof you mailed that cheque?

They're cowboys and notorious for selling "seconds" from JL etc (there's one near me here in sunny Norfolk) - same goes for Tribal...

Argue the toss, because quite frankly they'll take you for a ride given half a chance! Whether they cashed the cheque or not is immaterial; they're in the wrong!