Finance Loan for goods that were never received

carriemsmith

I applied for finance with Omnicapital for made to measure blind for my home and 2 days after signing the terms and conditions the blinds company went into liquidation. I contacted Omnicapital stating my terms and conditions allowed me 14 days to change my mind and therefore as this was only 4 days later I would like to exercise my right to cancel the finance. To cut a long story short 12 weeks later I am now told that I didn’t actually have the right to cancel and complicated further by the fact it was an unregulated loan ( this was mentioned nowhere in T & C I signed) so not only do I have no prospect of ever receiving my blinds - confimed
by liquidators - but i am responsible for 12 monthly payments for these blind I’ll 
never receive. Any advice would be much appreciated 

Jono111

If the terms say you can cancel then give them the money back and cancel, I can't see them going any further with it.

carriemsmith

I should have pointed out I never received the loan money. I have at no point received any money or goods. Reading between the lines... the blinds company took the finance money the day before it went into liquidation!

Jono111

There is no way you can cancel it then. Unfortunately I don't think you will see any of the money again. 

SuperAllyB

If it actually says in the T&Cs that you have the right to cancel then it might be worth seeking legal advice depending on the amount involved.

bris

You start a S75 claim, the finance company paid out but you have the right to the blinds or your money back. The finance company will take the hit but thats the law.

Jono111

I don't think that works with loans, perhaps if you paid by credit card you would have had protection. I am just guessing though.

bris

Yes it works with loans, it works with any finance agreements.

I take it the money went straight to the blind company? Thats what it reads like? This wasn't a personal loan was it?

mcpitman

bris said:

Yes it works with loans, it works with any finance agreements.

I take it the money went straight to the blind company? Thats what it reads like? This wasn't a personal loan was it?

Section 75 applies to loans and finance? Thought it was only CC's.

bris

If you take out finance to buy a product that finance is subject to S75 laws. 

If you take out a personal loan then use it to buy the product then it isn't as there is no link between the personal loan and the supplier of the product. 

molerat

OP states it is unregulated finance.  Need answers to that one before S75 can be considered. Is this commercial finance ?