Unactivated Credit Agreement

KTP2176

I need advice. 2 years and 8 months ago (Oct 2009) I purchased some flooring. Instead of paying I applied for interest free credit, which was accepted and I signed the agreement. I left the store with a reciept for the full amount and no copy of the credit agreement but thought that maybe I'd get something through the post from the credit company. No letters have ever been sent to me, and no payments have ever been taken in the 2 years and 8 months since I made the purchase and signed the credit agreement.

Yesterday I received a letter addressed to my surname only, no first name. The letter came from the flooring company - not the credit company?!?! The letter said that due to an admin error the credit agreement had never been activated. The letter asked me to contact the accounts department of the flooring company (not the credit company) to set up a new credit agreement or pay for the goods. I have a copy of my credit record which shows the search made by the credit company but there is definately nothing set up and no debt showing against my name.

Where do I stand. Do I have to pay them? I would have thought that any debt would be with the credit company, not the store as the store gave me a reciept bascially stating that the full amount had been paid. I therefore assumed that the credit company had paid the store and I owed the money to the credit company.

What should I do?

ILW

You need to pay them one way or another.

McKneff

Youve got the flooring, you have to pay them.
The flooring company that is.

We'll help more if they try to bill you for over 2 years credit like

[Deleted User]

KTP2176 wrote: »

2 years and 8 months ago (Oct 2009) I purchased some flooring....

.....Where do I stand.

You want to know where you stand on your new floor?

McKneff

Deleted_User wrote: »

You want to know where you stand on your new floor?

I wondered who would be the first to come up with it.:rotfl::rotfl:

donnap83

McKneff wrote: »

I wondered who would be the first to come up with it.:rotfl::rotfl:

:rotfl:

But seriously?! Do you have to pay them?? Yes!!!! You have the floor! Unless you want them to come and remove the floor??

Apples2

Of course you have to pay for it, you had the flooring.

I think you should consider yourself fortunate if they still allow you to repay only the money you borrowed without the added interest.

A retailer has up to 6years to recover the funds so they are well within the timescale before you can argue you no longer have to pay for it.

KingElvis

Well, at least he knows where he stands now.

Due to the lack of response from the op, I guess your answers floored him.

donnap83

KingElvis wrote: »

Well, at least he knows where he stands now.

Due to the lack of response from the op, I guess your answers floored him.

**Sniggers**

eddddy

Perhaps I'm being charitable, but I wonder if you may have missed a key point in the OP's question (or maybe I have!).

The OP assumed that he/she owes money to a finance company in relation to an interest free loan (because the OP signed all the finance forms and took the flooring home). And the OP assumed that the finance company had screwed up, because they never collected any payments.

Now the shop writes to him/her and says "actually you owe us the money, not the finance company".

Not surprisingly, the OP wants some kind of proof that this is true. Otherwise, the finance company may send a letter in a few months time saying "sorry we've forgotten to collect your payments, we'll start now".

I expect that the OP hoped that he/she had got away without paying, but now doesn't want to end up paying twice. (Maybe the OP is also wondering whether he/she can get away without paying at all, but you've all answered that question fully and frankly.)

Or am I just being niave?

Apples2

^^ Good point but to me, it appears the Furniture company never did send an agreement to the Finance Company so essentially, just gave the furniture away due to their own "admin error"

If it were the finance company who screwed up, the letter would most likely have come from the finance company.

Maybe the furniture company no longer deal with the same finance co, who knows? It would be worth clarifying but the bottom line is, the money is owed and they are perfectly entitled to claim it now.