creation finance and dreams beds, need some advice.

lorny80

we bought a bed from dreams, on buy now pay later, 1 yr intserest free.
invoice said, 659 to pay.
and then additional admin charge to creation of 29.99

was meant to pay by 20.10. 2010

went to pay last night, and on the creation web site it said cost of goods was 610, and 688 to pay.


the end payment was right, but not the cost of product.
we didnt want to make an incorrect payment of the goods, as we have a 10 yr warranty and didnt want in invalid, if it came abut that we hadnt paid the full 659 for the bed.

we tried to call them, they 1 wouldnt talk to me, as oh had signed the doc, then we left a message as we couldnt get through and they were meant to call us back. which they didnt, we called again, then they closed.

i logged on this morning, and the 688 has gone up £203 overnight.

is there anything i can do?
we tried to make a payment, but the details were incorrect.
and in the time between signing and now, we have had no contact from them, are they not meant to send out a reminder that the interest free period is coming to an end?
any ideas?

KingElvis

Errr I have no idea why you left it until the last day or why you just didn't pay. I would've just paid it and then argued over the figures later.

Now you have gone over the interest free period you'll feel the pain and expect that debt to rocket. People think they can ignore these debts as they seem so easy but then end up with a huggggggeeeeee debt. There was an example on here a few days ago where someone had ended up paying 4k or something for a £600 telly.....madness.

You should ALWAYS pay off these interest free debts at least a week (imo) before the due date. I pay something every month and then settle the debt in the last month.

AVERY4999

Creation Finance is a member of FLA and their code of practice states that members 'should write to borrowers before the end of an interest free option period to remind them of the options available under their agreement' . Creation Finance used to do this but stopped mid 2012 for some reason (to get interest from customer ??)

The Financial Ombudsman has ruled on this practice, in favour of the customer. The case study is 75/05 in the Ombudsman News.

A friend had £500+ interest cancelled by quoting the above when he forgot to pay £750 on time (4 months late) He complained to Creation Finance and asked why the letter was not sent. He would have taken the complaint to the Ombudsman had they not cancelled and wanted to include their reply in his report to the ombudsman.

mymatestella

AVERY4999 wrote: »

Creation Finance is a member of FLA and their code of practice states that members 'should write to borrowers before the end of an interest free option period to remind them of the options available under their agreement' . Creation Finance used to do this but stopped mid 2012 for some reason (to get interest from customer ??)

Not sure if you meant mid 2011 or mid 2012 but either way you are incorrect. FLA member started issuing reminder letters for agreements taken out after December 2010. Most agreements covered by this are 12 months interest free so as of last month all customers should get a reminder letter for these agreements.

Peelerfart

I got a letter from Creation reminding me of the end of my interest fee period about two months before the end,that was last month.

Paid it off and vowed never to use them again.

Good luck OP