Fraud

continualdiamond

Can DFS have us for fraud if we enter into a DMP before we've actually started paying back our loan with them??

We bought it on the buy now pay later scheme at 0%, due to start repaying next mth. When i mentioned this to payplan, i was told they could have us for fraud and to find out if its HP.

From what i have read, its a fixed loan agreement and it doesn't say anything about taking the sofa of us. However can they have us for fraud?

Does anyone have anymore information on stuff like this?

rayday2

From what I understand you go from when you signed the agreement they would have to prove that you knew you were struggling.

I would worry if it was maybe up to 2 months but over that you would not realise that things were so bad.

Did that makes sense?

continualdiamond

Yes it did, thanks a lot. Obviously things this time last year we were not struggling, when we were looking for a sofa. We've had the sofa year 21st aug, so thats when where due to start paying it off.

So are we okay???

rayday2

I won't say OK but look at it this way..

They take the risk with the buy now pay later deal.

How could they prove that a year ago you knew where you would be today!

They may roar a bit but common sense tells me they can't do a lot. Maybe Payplan do not really understand how long ago you actually signed the agreement.

livinginhope

From what I remember of our DFS agreement,it was hire purchase,this meant that if we didn't pay,the sofa was repossesed.Payplan advised us to pay off this before entering our DMP,which is what we did.
I wouldn't think anyone could call it fraud if you weren't havng problems when you took out the agreement,things change and circumstances change,that's just a risk DFS take!
LIH

continualdiamond

I cannot find anything that says ours is a hire purchase. It simply says fixed sum loan agreement. Would it say hire purchase if it was? I've always just had loans, so unsure what wording im looking for, for a hire purchase agreement.

biglad

i was once told by payplan a debt can only be added to a DMP if 3 payments had been paid on it. hope this helps

rayday2

continualdiamond wrote: »

I cannot find anything that says ours is a hire purchase. It simply says fixed sum loan agreement. Would it say hire purchase if it was? I've always just had loans, so unsure what wording im looking for, for a hire purchase agreement.

It could be on the back with all the small print if its hire purchase it will start talking about percentages being paid and when you can hand goods back etc, if it does not do this it is a loan.

What company is the finance with btw?

I am just curious there is no way a nearly a year ago you could say what would happen in a years time, people in a year can have divorces, babies, redundancies all sorts.