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stranger to pay me monthly instalments, safe?
Hello all,
I have a wedding dress that I am selling to a complete stranger and she has requested to pay monthly installments. Is there a safe way of doing this?
The total amount is £1,200.
Much appreciated.
I have a wedding dress that I am selling to a complete stranger and she has requested to pay monthly installments. Is there a safe way of doing this?
The total amount is £1,200.
Much appreciated.
My old materialistic lifestyle left me in debt worth £38,250.
Current debt balance £35,966 16/07/2018
Current debt balance £35,966 16/07/2018
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Comments
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dont do it..... ask her to get the money from somewhere, family friends, loans etc...
you dont know this person, and you have no gaurntee she will pay on time each month i understand you want a sale but trust me dont go down this route“People are caught up in an egotistic artificial rat race to display a false image to society. We want the biggest house, fanciest car, and we don't mind paying the sky high mortgage to put up that show. We sacrifice our biggest assets our health and time, We feel happy when we see people look up to us and see how successful we are”
Rat Race0 -
Hello all,
I have a wedding dress that I am selling to a complete stranger and she has requested to pay monthly installments. Is there a safe way of doing this?
The total amount is £1,200.
Much appreciated.
I'm not sure this is entirely the correct board, however, not there's no safe way of doing this without a lot of effort and properly drawn up loan agreements and payment schedules, and even then it could easily be defaulted.
The only way to do it would be to take the instalments and only when they are all paid, release the dress.I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
Is there a safe way of doing this?
Not really, no. In effect, you are extending credit to the other person. If the person fails to pay, you'll have an extremely tough time trying to force them. Yes, you can draw up an agreement, signed by both parties. Yes, you could ultimately take them to the small claims court. In reality, it would be an enormous headache, with no guarantee of you receiving anything. It's along the same lines as the "I lent some money to a friend" story we see on these forums time and again. My advice would be to steer clear, you don't need the hassle.0 -
Of course it isnt.0
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The short answer is no. There is no way I would accept payment in that form, from someone I did not know. Even a Standing Order can be stopped.
£1,200 is a considerable sum: think of it this way - you are, in effect, loaning that amount to someone you do not know. Can the stranger-buyer not obtain a loan? Your choice obviously, but I would definitely not accept this.I think this job really needs
a much bigger hammer.
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You could draw up a contract - you’ll find templates online - but if they don’t pay you’d have to take them to court and even then there’s no guarantee of you getting the money.
I wouldn’t do it. As ratrace says, get them to borrow from someone who actually knows them. If you’re the last option for borrowing then they’re not a good bet.0 -
Thank you all, I will decline her request.My old materialistic lifestyle left me in debt worth £38,250.
Current debt balance £35,966 16/07/20180 -
You could take something in security for the payments, a car perhaps?0
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