Courts Furniture Query.

Tel_4

Hi,

I had a new suite delivered in May 2004 which I had purchased from Courts furniture stores in January 2004. Courts have since gone into administration.

I took advantage of their "Buy now pay nothing for a year" offer, and paid a deposit, with the balance being due 12 months after the suite was delivered.

I completed a finance application at the time of the sale which is regulated under the consumer credit act 1974 and the lender is HFC bank.

The finance agreement contains an "option period" which expires on 5th May 2005.

If I pay for the suite in full by this date, then I pay no interest payments. If I dont, then under the terms and conditions of the agreement, I pay interest and my direct debit is activated, I pay monthly instalments and HFC then pay Courts.

My question is, as Courts are no longer trading and presumably not able to honour any guarantee given for the goods that I have purchased, am I still liable to pay the outstanding balance which amounte to £1052.00?

Any help would be appreciated.

derrick

Yes you are liable to pay as you financial contract is with the finace company,as for as any guarantees are concerned you have the same rights against the finance company as you had with the retailer,so should anything go wrong,you would contact the finance company under the consumer credit act 1974 section 75

YorkshireBoy

Tel wrote:

Hi,


If I pay for the suite in full by this date, then I pay no interest payments. If I dont, then under the terms and conditions of the agreement, I pay interest and my direct debit is activated, I pay monthly instalments and HFC then pay Courts.

I may be wrong here but, I think you'll find that HFC have already paid Courts for the suite when you purchased it, ie they "bought the debt" from Courts. This was how it worked on a similar arrangement (computer, not furniture) when I last used this promotion a few years ago.

HTH
YB

Bossyboots

You are right, that is how it works.