Get out of credit agreement after cooling off period

redsfan75

Hi

1st time post on here

I need advice, me and my wife bought a new sofa suite from DFS and signed up to pay monthly interest free for four years through Hitachi Capital

I have received a confirmation letter from Hitachi about the agreement giving me a right to withdraw from the deal within 14 days from the date of the letter which was 15 march

Obviously I am now outside the 14 day cooling off period and I now want to cancel the order as I fear not not being able to pay each month as our household income has reduced

Am I still able to cancel the order thus cancelling the agreement or am I now stuck?

I would like to think there is a way out of this so if anyone has any meaningful advice it is greatly appreciated

Thanks

opinions4u

I think you're getting a new settee and the debt to go with it.

Be comfy. They normally need replacing just before you make the final payment on the interest free credit.

redsfan75

are you saying i cant get out of it?

McKneff

No, you can't, it's far too far into the agreement.

Youve had the suite for what 6/8 weeks, it would be second hand now anyway, they couldnt sell it.

Youve no choice but to budget for it.

[Deleted User]

probably not,thats why they have a cooling off period,isnt it no payments for a year anyway?

redsfan75

i havent taken delivery yet, its due sometime in June and payments start 1 month after delivery

Mara69

You could always flog it (at a loss) and use the money to pay off some of the agreement.

redsfan75

so i cant get out of the agreement? why?

balmk

Depending on the terms of the agreement you may be able to settle early, but as you are outside the 14 day cooling-off period you can't cancel it altogether.

Bravehearted_2

Because you made an agreement with them?

They've probably set the wheels in motion to get it delivered. Whose going to cover that cost? Won't be much of a business if customer came in and cancelled willy nilly.

They gave you a chance to cancel but you didn't, hence signalling your ok even more.

DevCoder

redsfan75 wrote: »

so i cant get out of the agreement? why?

You might be able to get out the agreement (not much chance on that)

But, you'd still own a sofa and need to find the monies (or alternate finance) to repay.