Please help!!!!!!

steampowered

Kezbobs74 wrote: »

Thanks everybody for the advice. I don't claim to know anything about consumer law, hence the reason for the thread in the 1st place.

I always thought when entering into a credit agreement, you should be made aware of the terms of the agreement regarding payment, cancellation, non payment etc. I work in retail myself where customers sign up to a store card. We're not able to just presume that people have read the terms, we're to read them to the customer and ask if they're happy to proceed. My peeve is that the dress doesn't even exist yet, hasn't been ordered or started to be made so how can it be justified to keep all the money I've paid so far as there's no losses incurred by the shop. A percentage is fair enough, but all the money? I suppose it's a valuable lesson learnt on my behalf and I'm grateful for all the comments made so thank you everyone.

Hi - No worries at all, noone expects you to be an expert in consumer law!

The Consumer Credit Act and the FCA's regulations about consumer borrowing only apply to "regulated credit agreements". Buying an item by instalments is not a regulated credit agreement because you aren't borrowing money.

When a consumer takes out a store card to buy stuff, you are entering into two separate contracts. You have one contract with the finance company who provides the credit; and another contract with the shop for buying the goods. The shop gets paid immediately by the finance company; and you pay back the finance company through the card. The bit that is regulated is the credit card. The purchase from the shop is not regulated.

The terms of the contract with the shop will simply be what was agreed with the shop. For example if you agreed to buy a dress and the shop agreed to sell it to you, that is what the contract will be.