Should I own up?!

noidea_4

Hi all

I find myself in a strange and rather happy situation and I would appreciate any guidance about how to go forward with this.

In May I purchased a new computer package from PC world (worth about £800) and took out an interest free finance package to pay for it, with a view to settling the debt within the interest free period.

When I bought it there were some minor problems with the PC being out of stock and PC World having teething problems with their own computer system. I didn't think much of it at the time.

However, I noticed recently that there had been no payments taken from my account, nor indeed had I recieved any notification or correspondance from the finance company HFC.

I phoned HFC and explained the situation and the fact that I had expected to start paying money by now, but I was told by a cheerful young lady that they had a record of my details, but PC World had not yet requested any payment from them. She said this was quite normal and I shouldn't worry about it.

That was nearly a month ago. I'm not sure what to do now, as I think the teething problems PC World were having may have inadvertently gifted me a free computer (I have not had any communications on the matter, other than those I have instigated myself). Really I would like any opinions as to what I should do, or if anyone has had any similar experiences. It's very tempting to keep hush and pocket the £800, but I can't help but feel that this may catch up with me when I least expect it. It has after all been nearly 4 months since I bought the blessed thing.

Anyone? ???

trafalgar_2

Be very careful that it doesn't "catch you up" at a time when you can't complete inside the interest-free period :-/

noidea_4

Hello

this is what I'm confused about, I would argue that since I have not made any initial payments, the interest free period or indeed the finance package hasn't actually begun?

misty

I had the same thing happen to me a few years ago. I bought a PC from BYTE who were within Office World. When I bought it there were 3 options Buy Now and pay it all off in 9 months. Buy now and start paying in 3 months with interest or Buy now and start paying in 9 months at a higher rate of interest. I chose the second. When the 3 months were up, no money was taken. I phoned the credit company and they said they hadn't received any info and I wasn't in the system. Phoned BYTE, they took my details and they said everything gets sent off toghether every week etc. Few months passed still nothing, phoned all again was told the same. I kept the money to one side in case they suddenly wanted it. The 9 months date came and thought I hope they don't try and charge the higher rate again, checked paperwork noticed they had all my bank details etc but no strart date to take money. Phoned them all again- don't worry few problems with paperwork will all get sorted. few months later they went bust! I'd suggest keeping the money to one side and keep in contact with them, take names of who you spoke to and then you've covered yourself.

Finishrich

Not a surprise then that they went bust ;D

misty

No. I got talking to someone one day and I mentioned it to him and a something similar happened to his brother-in-law, so I wasn't the only one.

trafalgar_2

Hello

this is what I'm confused about, I would argue that since I have not made any initial payments, the interest free period or indeed the finance package hasn't actually begun?

But I beleive the paper-work you sign will actually state on what date the period finishes................say 12 months from signing.................therefore it will be running all the time regardless of whether a payment has been made :-/

If you have the full amount anyway......don't worry but if you don't and they ask for it say 6 months in can you afford to catch up ???

You really don't want to end up paying interest on top

COS

Hi all

I find myself in a strange and rather happy situation and I would appreciate any guidance about how to go forward with this.

In May I purchased a new computer package from PC world (worth about £800) and took out an interest free finance package to pay for it, with a view to settling the debt within the interest free period.

When I bought it there were some minor problems with the PC being out of stock and PC World having teething problems with their own computer system.  I didn't think much of it at the time.

However, I noticed recently that there had been no payments taken from my account, nor indeed had I recieved any notification or correspondance from the finance company HFC.  

I phoned HFC and explained the situation and the fact that I had expected to start paying money by now, but I was told by a cheerful young lady that they had a record of my details, but PC World had not yet requested any payment from them.  She said this was quite normal and I shouldn't worry about it.

That was nearly a month ago.  I'm not sure what to do now, as I think the teething problems PC World were having may have inadvertently gifted me a free computer (I have not had any communications on the matter, other than those I have instigated myself).  Really I would like any opinions as to what I should do, or if anyone has had any similar experiences.  It's very tempting to keep hush and pocket the £800, but I can't help but feel that this may catch up with me when I least expect it.  It has after all been nearly 4 months since I bought the blessed thing.

Anyone? ???

If they say they have no record of this transaction ask them to put it in writing same with HFC.

trafalgar_2

Hi COS
I don't think it says anywhere that they have no record.................or have I missed something ???

Dan29

Hi COS
I don't think it says anywhere that they have no record.................or have I missed something ???

No, I think noidea said the opposite, that the finance company did have a record of his/her details.

I've had interest-free deals where they've taken an amount every month during the interest-free period, but also some where they took nothing and I had to remember to send a cheque for the full amount before the crucial date when it got switched to a high-interest loan. Are you sure it's not one of those arrangements?

COS

Sorry an oversight :-[