Dreams/Creation finance problem!

KingElvis

Always settle these deals well before the monies becomes due.

It's shocking how many people "have the money" but try and pay it on the day etc and find out they now on thousands on what is basically crap.

Buy now pay later deals are a sticky trap for the finacially disorganised or inept.

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.

Hope this helps some people.