Distance Selling Regulation combined with Credit

LozzaJones

Hi mo786uk
I can see your point although I have bought expensive items on "zero percent credit" before and the items were despatched immediately. I would be surprised if you could cancel the credit without returning the goods first... I could be wrong but otherwise this would be quite a loophole wouldn't it. Also... would this mean that if I wasn't satisfied with the goods, although I could return them under the 7 day DSR, I would be stuck with a credit agreement, as it would be too late to cancel it?

mo786uk

The 14 day cancellation period only came in February 2011.

Because the credit is often provided by a third party it would be possible to cancel the credit whilst holding onto the goods and not telling the retailer.

If you have recieved the item you have 7 days to cancel it from delivery - cancelling would cancel the credit (under the distance selling regs) - even if they had waited 14 days and you lost your cancellation period under the consumer credit legislation.