Company gone into Administration after Purchase

alxx_b

Hi Guys

I hope I've got the right forum!

Basically we signed up for Solar Panels and agreed to pay by finance.

Unfortunately, the company we signed up with for the panels went into administration two days after the fitting.

It seems that the company that they worked with to offer the finance now won't give us the loan to cover the cost of the panels, as the panels company has gone bust.

Can the Administrators chase us for this payment?

I thought that if we signed up for finance and now the finance company is refusing the loan due to no fault of ours, it would be a matter between the Administrators and the Finance Company?

As it is, I have an invoice from the panels company with 'Paid in Full' stamped on it?

Any ideas?

MataNui

Is anyone chasing you at the moment? How did you find out the finance company didnt pay?

The finance company wouldnt want anything to do with this company (if they hadnt paid already). The company going bust would mean your guarantee is worthless and the finance company would be 100% on the hook if there was a problem. Thats why they pulled out.

I would say the contract is between the finance company and the installers but it does seem a bit of a difficult one.

alxx_b

No one is chasing us.

The only reason I found out they weren't going to take the loan on (I had assumed it was already set up and payments were due to begin) was because I was chasing the solar company for a rebate I was due -
They fitted less panels than agreed in contract, and said instead of changing the loan agreement, they would just give us a rebate, along with a new contract, neither of which arrived.

I've emailed the solar company a few times and chased by phone, but no response.

I was just worried in case the Administrators came chasing, but if my contract is null and void because they couldn't fit what was agreed, the amount agreed in the loan application I signed would be incorrect now anyways.

The guarantee for the panels is with HIES (I checked when we signed up in case the company went bust as it's a 25 year guarantee - I just didnt expect the company to go bust so quick!!)

molerat

What finance paperwork have you got ? Quite often the loan is signed by yourself and the salesperson "for and on behalf of" which will make it binding. Just keep putting the payments away in an account and wait and see what happens. The only problem you may have is if something goes wrong and there is no finance company to be "joint and severally liable". You may be lucky enough to have a solar installation for free or you could ask the administrators to come and take them away and make good which they would be liable for doing correctly, an option I doubt they would choose as the cost would outweigh the benefit.

bris

The administrators will have a claim against you, their job is to get as money as they can in from debtors to pay creditors.


They have an obligation to their creditors to chase you for payment. Your contract isn't null and void as you have had the system fitted but you are in a good position to negotiate a good settlement from the administrators..

alxx_b

I'll have another read of the paperwork when I get home.

I have been emailing the loan people and they basically said:

" Good morning

I can confirm we cannot open your loan account as we effectively have no on to pay it to.

The liquidator once appointed for Solarlec may make contact with you directly regarding the system, I do not imagine Solarlec will be pursuing you as they are no longer trading."

I'll just wait and see. We signed up on the basis of a certain level of payments over a certain period, so I hope if they chase us they will accept the same payments (or just don't chase us!!)

shaun_from_Africa

Did you by any chance pay a deposit for the work before the finance agreement was set up? and if so, was this payment made on a credit card?

alxx_b

shaun_from_Africa wrote: »

Did you by any chance pay a deposit for the work before the finance agreement was set up? and if so, was this payment made on a credit card?

Yes to deposit (£500) but on a debit card?

bod1467

I'm guessing the angle shaun was looking at was ... if you'd paid the deposit by credit card then the credit card provider would inherit the liability for the performance (warranty etc.) of the contract.

As you paid it by debit card then that angle can't be pursued.

cattie

alxx_b wrote: »

Yes to deposit (£500) but on a debit card?

About a year or so ago I paid for something via debit card to a company who went into administration just a couple of days after I made payment! I was able to do a charge back with the help of my bank, so it's worth you looking into doing this to see if you can get your deposit back.

molerat

cattie wrote: »

About a year or so ago I paid for something via debit card to a company who went into administration just a couple of days after I made payment! I was able to do a charge back with the help of my bank, so it's worth you looking into doing this to see if you can get your deposit back.

Getting money back is not what the op wants, they already have (most of) the goods / service.