Franksmile bankruptcy

lcc86

Hi all,


Not sure if I am posting in the right section - please advise if not. I have been paying for invisible braces for about 6 months now through a company called Franksmile based in Germany, have 7 months left to pay. I've had no issues but a colleague at work recently told me that the company has gone bankrupt. I thought something may be wrong as I had tried to log in to my account a few times recently but had been unsuccessful.


I signed up to 0% finance and the money is taken via a company called Tabeo directly from my debit card. There is no paper loan agreement as such as they say everything was done electronically. I just want to check whether there might be any implications for my own payments because Franksmile have gone bankrupt? I've had no communication from anyone so do I just continue paying as normal until the end of my agreement or will they expect the full amount to be paid sooner in order to repay their own creditors?

davidmcn

Their bankruptcy wouldn't affect when you're meant to make your payments.

da_rule

You owe the finance company, not the company that actually supplied the braces. The finance company would have paid the supplier.

If the company has gone bankrupt then it may mean that any guarantee is now worthless and obviously any after sales support may now be gone.

unholyangel

da_rule wrote: »

You owe the finance company, not the company that actually supplied the braces. The finance company would have paid the supplier.

If the company has gone bankrupt then it may mean that any guarantee is now worthless and obviously any after sales support may now be gone.

While thats true for the retailer, its likely OP would be able to rely on section 75 to enforce those rights against the creditor.

lcc86

Yes I figured any post-purchase support is now gone but just wasn't sure if anything else was affected. More looking for reassurance that I wouldn't have to pay the rest up front. Thank you all.