Mis-sold credit agreement?

justlenny

Hi Guys,

I'm wondering if somebody could help me please! This is a wonderful board with lots of information, but I can't seem to find anything specific to what I'm experiencing.

A few weeks ago i decided to treat myself to a new TV... Long story short, I was about to purchase, but was offered a 0% finance deal which equated to a 'buy now pay in 10 months'. Naturally, I jumped on the offer to have the flexibility to defer the payment by 10 months and keep the cash in the bank, whilst improving my credit rating.
I pass over a few details to the store clerk for the finance application, get a call from Barclays confirming if I am who I say I am, pay a deposit and walk out of the store with a shiny new TV to put in my front room!

About a week ago I received an email from Barclays with a login, showing my 'credit agreement' of the loan, which is significantly different to how the clerk described it.. I then start to think back and realise that I never actually saw any credit agreement, or even signed any piece of pape. I was so excited to get home with the TV that I overlooked the normal processes.

The differences in the agreement consist of no deferred payment, (requirement for monthly payments), paying off early costs (he said there was no fee, but it states £30), and significant APR differences to what the clerk sold... I wasn't planning on letting it get to interest stage, but still.

What can I look into to understand my rights on this matter? Should I be complaining to Barclays or the store regarding the discrepancies in what was sold and what's currently in the agreement? What's the stance considering I haven't signed anything?

Any assistance would be extremely helpful. The company in question is a large audio/visual company who frequently compete with JL..

Thanks in advance.

Lenny

tonycottee

Did you sign anything in store? If so, what does that say?

DCFC79

You will be waiting a long time for anyone else but you to see you credit rating, lenders see your credit file.

justlenny

Nope, nothing signed at all. No paperwork other than a receipt came home with me that day.

The electronic agreement (PDF) has a blank space where it says 'Customer Signature'.

fwor

justlenny wrote: »

Should I be complaining to Barclays or the store regarding the discrepancies in what was sold and what's currently in the agreement?

If you look at this logically, Barclays cannot be responsible for any discrepancies, as there was no Barclays representative in the shop when the item was sold to you. Any misrepresentation will have been done by the shop sales staff, so you need to speak to them about it.

tonycottee

justlenny wrote: »

Nope, nothing signed at all. No paperwork other than a receipt came home with me that day.

The electronic agreement (PDF) has a blank space where it says 'Customer Signature'.

Sorry, I missed that in your original post. As fwor says, I would go back to the store. As they didn't get you to sign anything or give you the chance to look at the T&C's I can't see how this is enforceable.

PeacefulWaters

Is this one of those rubbish Currys deals where you pay an extra payment (fee) and they claim zero interest but have to quote an APR?

-taff

take the agreement back to the store, make a complaint and either ask for the terms and conditions you thought you originally agreed to, or take the tv back.

SeanG79

Did you perhaps sign the agreement electronically while you were in store? Barclays would not normally activate the agreement without a signature on the agreement (electronic/wet).

foxy-stoat

Settle the finance within the 14 day cooling off period and enjoy your new TV, or take it back to the shop and go elsewhere....next time read everything before agreeing to buy so you understand the terms and conditions.

YorkshireBoy

PeacefulWaters wrote: »

Is this one of those rubbish Currys deals where you pay an extra payment (fee) and they claim zero interest but have to quote an APR?

Richer Sounds?...

http://www.richersounds.com/information/bnpl