Watch out for rip off Harveys Furniture loans

nic_santorini

I bought a load of furniture from Harveys 11 months ago and used their buy now pay in 12 months - interest free credit. The credit agreement was with Lloyds. I went into Harveys today to ask if I could settle the account because if I don't by the 12 month (27th April 2010) I will get charged an additional £2,500!!!! in interest:mad:. Harveys stated they have already received their money from Lloyds and have not even got a telephone number for me. I told them they were not being very helpful and the bloke turned round and said they had there money so were not interested!!!

I found a number and went through an automated message account until I got to the settlement figure and date and the date was 2ND APRIL 2010!!! I am so happy I checked it early - so have now paid it off and have avoided the £2500 interest charges.

Check your dates if you have an agreement!!!!! And as for buying any furniture from Harveys again, they have lost a customer.

swingofthings

Shouldn't you have had a credit agreement from lloyds when you took out the interest free credit last year with dates etc?

I always take advantage of interest free offers but tend to do them monthly to spread the payments and i always have agreements sent to me in the post that i check the dates on ...

anguilla

Every buy now pay later deal I do I set an appt/calendar reminder at least 1 month in advance of the end of the deal as sometimes it may say Interest Free until March 2010 but sometimes that may be 1 March so not a year! This type of practise is not illegal but is dishonest by both the bank and the store in my opinion. It's not just Harveys - they all do it - I think they get commission for everyone that fails to pay during the free period that helps their bottom line!

swingofthings

I suspect it is all covered in the terms and conditions ...

Anyway, I still think 11 months interest free credit is better then paying the whole money upfront (with a family to support it is never easier to come up with a spare grand or two) or paying extortionate loans so I am happy with the situation ...

So Harveys customer service were shoddy with you (they must have had the telephone number of lloyds - if not, then that is a customer service failing!) BUT was the furniture any good?

Personally I have had stuff from Harveys and never had a problem with it ...

CHR15

There's no end of threads on here where people have left it until the day before expiry before trying to pay it.

Anyone leaving it so late is really asking for trouble.

Why the angry face at £2,500 interest? it would have been clearly advertised before signing the form.

How would the lender make ANY profit if they offered these 0% deals for ever???