Worried about my dream kitchen deposit

Ben_Addison

Hi there, i am in the process of putting down a 50% deposit for a new kitchen, a 50% deposit being £9K. The kitchen will be fitted in 6 weeks time as there is some building work to be done prior to installation. I have been told by the kitchen supplier that if i put £100 deposit on my credit card and pay the rest of the deposit by bank transfer/bankers draft then i am protected for the full amount of the deposit if the kitchen supplier becomes bankrupt prior to supply of goods. I was hoping that someone may know about this and whether it is true. My obvious concern is that i may lose my deposit if things went pear shaped

wealdroam

Ben_Addison wrote: »

Hi there, i am in the process of putting down a 50% deposit for a new kitchen, a 50% deposit being £9K. The kitchen will be fitted in 6 weeks time as there is some building work to be done prior to installation. I have been told by the kitchen supplier that if i put £100 deposit on my credit card and pay the rest of the deposit by bank transfer/bankers draft then i am protected for the full amount of the deposit if the kitchen supplier becomes bankrupt prior to supply of goods. I was hoping that someone may know about this and whether it is true. My obvious concern is that i may lose my deposit if things went pear shaped

What you have been told is true.

Have a read of MSE's Section 75 Refunds article.

Actually, as little as £1.00 on the credit card will protect the whole deposit.

Ben_Addison

Thank you for responding. I very much appreciate your advice.:j

Hintza

Very wise to take precautions we have just completed our new build and 3 companies went bust on us, fortunately only one resulted in us being out any money and that very fortunately had been paid via CC.