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Can I Repay my DFS agreement early?
niceshoes_2
Posts: 456 Forumite
I bought a new settee in January this year and took the option to spread the payments over 36 months. I didn't defer the payments and started paying as soon as the sofa was delivered (March 07) The deal is 0%.
The total amount of the sofa was £1333 and I repay £37.06 per month.
I have the money to repay the remaining balance (£1036) now. Does anyone know if I can settle the agreement early and if so, are there any penalty clauses?
Thanks for your help
The total amount of the sofa was £1333 and I repay £37.06 per month.
I have the money to repay the remaining balance (£1036) now. Does anyone know if I can settle the agreement early and if so, are there any penalty clauses?
Thanks for your help
Nice Shoes & Expensive Designer Handbags, are my downfall!
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Comments
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hi its interest free so you might as well put the money in the bank and earn some interest and just pay the monthly amount if you are careful and dont get tempted to spend the money you have for it xx0
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Thats just it - I will spend it!
Plus I would really like to streamline the total amount of money/direct debits I spend each month!Nice Shoes & Expensive Designer Handbags, are my downfall!0 -
I'd need to see the agreement but I do know that some of these 0% deals will not allow you to pay early - they hope to gain their money by you forgetting to pay the balance and then immediatley charging interest! Can you put the money in an account and change the DD to the new account?0
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That's a good idea by peb above
You can't control everything in life....... your hair was put on your head to remind you of that
Proud to be BSC no. 1030 -
I'd need to see the agreement but I do know that some of these 0% deals will not allow you to pay early - they hope to gain their money by you forgetting to pay the balance and then immediatley charging interest! Can you put the money in an account and change the DD to the new account?
Oooooh you are so clever peb!!!I'm just a seething mass of contradictions....(it's part of my charm!)0 -
The balance of the item is spread through the 36months so it will be paid at the end of the term, so its not like I will forget and not pay the balance, thus being charged interest. Like I said, I just wanted to know if I could pay it early. I'll dig out the paperwork for the agreement and see what it says. Thanks for your help.Nice Shoes & Expensive Designer Handbags, are my downfall!0
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we requested a paying in book from the finance co and were able to make extra payments .dfs dont like telling you about book option for some reason .This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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