Think I've been missold credit? what are my rights?

hihip2004

Hi All,

I made a purchase from Currys a few days back for an item just over £100.  When in store I asked for a buy now pay later scheme and I'm convinced that the lady had put me on a 12 month plan and said If I pay within the first 6 months I have no interest to pay.  I was *not* asked to sign any document, all they did is text message me a number that was required for security purposes.

A few days later I have checked my currys plan account and whilst it "is" on a 12 month deal, they have started charging me interest immediately which isn't what I had agreed with the staff member?? I'm sure if I get told one thing but then get given another that's classed as mis-selling?

Where do I stand with this, and what would be the best way forward to ask them to resolve it? Thanks

HeinzVarieties

You were not missold, at worst someone made a mistake.

Go back to the store and ask them why you were put in an interest charging account rather than a BNPL one.

born_again

Go back to store & ask them.

It would seem odd that after a few days you have interest showing. Are you sure that this is not the amount of interest you would have to pay, if you did not pay off in full after 6 months?

https://www.currys.co.uk/gbuk/help-and-services/ways-to-pay/flexible-credit-4-commercial.html?tab=4

With Buy Now Pay Later, you can defer your repayment for the specified Buy Now Pay Later period. You will still be asked to select a repayment term of between 12 and 36 months at point of sale. If you choose to pay the full credit amount by the end of your Buy Now Pay Later period, you will pay no interest on your purchase. Should you choose not to pay the full credit amount by the end of your Buy Now pay Later period, any outstanding balance left to pay will be added to your standard Your Plan account balance and incur interest from the date of purchase at 24.9% APR representative (variable). This will then be charged in accordance to the repayment term you selected at point of sale.

hihip2004

to clarify, when I log in - the purchase is NOT showing a Buy now pay later account (as I had asked for) - it's showing as a 12 month credit agreement at 24.9% APR with 0 deferred months interest. .

Brie

then it's a case of pointing out their error and getting them to correct it.  If necessary complaining and returning the item.

Aylesbury_Duck

Ask them to change it to the plan agreed.

Ergates

Yes, you weren't "miss-sold" credit as you specifically requested it.   What they've done is mess up the credit agreement - someone pressed the wrong button.  They should agree to fix it and, assuming they do, reimburse you for any interest already charged.

cx6

Actually, I think they have been mis-sold credit. One can assume a wrong button was pressed, but in the absence of any facts on this the OP's story suggests they were told one thing and sold a different thing - which is the very definition of mis-selling.

emmajones1976

cx6 said:

Actually, I think they have been mis-sold credit. One can assume a wrong button was pressed, but in the absence of any facts on this the OP's story suggests they were told one thing and sold a different thing - which is the very definition of mis-selling.

In all likelihood this is just someone pressing the wrong button, no need to make it into something it clearly isnt.

Ergates

cx6 said:

Actually, I think they have been mis-sold credit. One can assume a wrong button was pressed, but in the absence of any facts on this the OP's story suggests they were told one thing and sold a different thing - which is the very definition of mis-selling.

"Mis-selling" refers to the practice of misleading the customer to sell them something they don't need/can't use.  For instance if the staff member had (somehow) persuaded the OP they were better off with the interest bearing credit, or if they'd told the OP they weren't eligible for the interest free option (even though they were).

It is not generally used to describe cases like this - saying you'll set someone up with interest free credit then signing them up to an entirely different thing is *definitely* a problem, and needs to be resolved, but it's not mis-selling.

cx6

Misselling is a sales practice in which a product or service is deliberately misrepresented or a customer is misled about its suitability.

deliberately misrepresented = saying zero % interest when it is 26.9 or whatever

agree it could be a wrong key pressed but until that is established then it is mis-selling