Looking for some advise about bad finance

fishyone_2

Hello all,
This is my first post so go easy! I am looking for some advise, feel so angry by what has happened with my credit that I need/ want to do something about it.
I bought some furniture 2 years ago, on a buy now pay in 12 months deal. Creation finance took on the finance and were in possession of my bank account details. After 14/15 months I realised no money was still being taken from my account which I though was odd, when I finally managed to get in contact they said I had defaulted on payments and the debt had been passed to a company called IQOR. This company seemed reasonable and said they'd had a lot of problems with creation, they could see my details were on record but had no idea why a direct debit was not set up. Long story short, they then set up a VISA account and so the payments were guarnateed against the card, this was fine for 3 months..... until the money just stopped being taken.
In the last week I have had another letter this time from West Mids debt collection working on behalf of creation saying Im in arrears. How can this be? Can my account keep being passed around wthout me being informed, and their payment being stopped?
I have now paid the account off on credit card, but desperately want any bad credit cleared from my name, what can I do?

Curr946

Well the first stop out be to get a copy of your credit file and add a notice of dispute to the defaulted entry, then write a complaint directly to creation regarding the first issue, at the same time write to IQOR regarding the sale of your account and cancelling your payment arrangement. I would then write to West Mids to advise them of the issues so that they are aware incase they plan to add there own registered default/settled account.

Few points, i know 3 companies have owned the debt but the last owner is the registered/legal data controller for that account, so fight hard to have creation completely remove the default from your account under the grounds they are not the legal data controller and fight hard with West Mids to request they do not even register the account on your credit file. - How long was the account with West Mids? if you paid quickly they may not even bother considering registering a default.

Good luck

- PS this is no way guaranteed to work, and im no expert. Just pulling on personal experiences.

fishyone_2

Thanks for the response. I received the letter from west mids this week, but only sorted post yesterday afternoon.... too late to call. I can't believe this debt keeps being passed around but the earliest I ever seem to hear of it is when I'm in arrears...... How am I ever to know who to pay!!

chanz4

And you have never had any letters from creation at all.......

fishyone_2

No letters at all.

Peelerfart

I can sympathise with the OP, Creation are not a firm I would choose to use again.

9 Months 0% from Curry's for a dishwasher and stuff.If I don't pay after 9 months 24.9%,but if I do they'll hit me with an "Admin fee" of £25.

I'll pay of course and yes it's been interest free but its still cost me £25.

fozmcfc

Peelerfart wrote: »

I can sympathise with the OP, Creation are not a firm I would choose to use again.

9 Months 0% from Curry's for a dishwasher and stuff.If I don't pay after 9 months 24.9%,but if I do they'll hit me with an "Admin fee" of £25.

I'll pay of course and yes it's been interest free but its still cost me £25.

Seems to be common, with most 0% finance deals from shops. A set up fee or a fee upon settlement, or indeed a fee upon settlement, plus a fee for using a certain method, for making that settlement.

My agreement with V12 finance should now be finished after my last payment last month. But I just have a feeling having received nothing to say, all paid up, it won't be that straight forward.

0% CC for purchases are the best way now for interest free.

chanz4

Think companys are now charging as they are making no money, they used to get goods cheaper from the retailer to compensate which they dont as much now.

Adam_Runnalls

I recently purchased a dining room suite from Furniture Village (on Boxing Day). The retail assistant informed me that the final settlement "Admin charges" are now prohibited by law.

On a more negative point, I am currently fighting a debate with Creation Finance over a "buy-now-pay-later" deal for which they didnt send a reminder letter. The result, £275 of interest applied to my account despite having the cash available. Their employees all contradict each other on whether letters should be sent.

Either way, i have phoned up proactively to pay off the balance (in the absence of a letter) but was informed i had missed the interest free date. This seems morally wrong to not send out reminders surely?

Anyone had a similar issue?

iolanthe07

It is not in their interest to send a reminder. If you take out this sort of deal, you need to make sure that you're organised enough to pay on time without being reminded (put it in a diary or something). Taking advantage of people with busy lives and poor memories is how these sort of companies make their money.

DCFC79

Adam_Runnalls wrote: »

I recently purchased a dining room suite from Furniture Village (on Boxing Day). The retail assistant informed me that the final settlement "Admin charges" are now prohibited by law.

On a more negative point, I am currently fighting a debate with Creation Finance over a "buy-now-pay-later" deal for which they didnt send a reminder letter. The result, £275 of interest applied to my account despite having the cash available. Their employees all contradict each other on whether letters should be sent.

Either way, i have phoned up proactively to pay off the balance (in the absence of a letter) but was informed i had missed the interest free date. This seems morally wrong to not send out reminders surely?

Anyone had a similar issue?

You shouldnt be relying on them to send you a letter, you should note when the interest free date ended