Snug Sofas - not getting my sofa or a refund!

born_again

stitchmaker85 said:

This is direct from the Government Website: 

"Offering credit to consumers: the law

You must be authorised by the Financial Conduct Authority (FCA) to offer credit to consumers"

So how are DivideBuy getting around this? They are a UK registered company, I'm so confused.

https://www.which.co.uk/news/article/buy-now-pay-later-regulation-6-things-you-need-to-know-about-the-plans-aZOTN1O0VSoM

Because the regulations have not been changed as yet. Governments move very slowly

>>Unfortunately, these plans will take a while to kick in - the government says draft legislation will be published towards the end of the year, followed by secondary legislation by mid-2023, after which the FCA will run a consultation.<<

So might be looking at 2024 or 25 before anything gets passed into law.