Safe Style UK Administration and payments

lobric

Good afternoon,

In late 2022 I placed two orders with Safe Style UK to supple windows and doors to a property 
I was renovating.

I placed two fitting dates.

The first was in March 2023 and the second in August 2023.

I paid a deposit and then chose to buy now pay in 12mths time.

If I don't pay the balance in March 2024 and August 2024 then a finance company would take the debt on and I would start paying monthly amounts to them to pay off the outstanding debt.

All windows and doors were fitted.

Due to Safe Style UK going into administration am I obliged to pay the outstanding balance?

Keep_pedalling

Yes you are.

Hoenir

The administrators will be collecting debts due to the company in order that any excess funds can be distributed to creditors. 

Veteransaver

I would assume that the finance company would already have "financed" the cost of your work and safestyle would have received the money from them, so yes you are liable to the finance company once payments become due.
It's a form of invoice factoring that many companies use. They sell the debt (ie the invoice amount less Eg 5 or 10%) so they get the cash quickly and your liability is then to the finance company for the full invoice amount (some gyms used to do this so they could charge you the full annual charge but disguise it as a monthly payment, except that you can't cancel it a couple of months in as you've basically borrowed a whole years membership fee and now owe the the finance company the full amount)
The documentation you have when you applied should tell you who the finance company is and set out terms, interest rate, monthly payments etc
If Safestyle didn't do that (seems unlikely) then maybe stay quiet!
But I can't imagine that Safestyle effectively lent you the money themselves only to then turn it over to a finance company 6 months later? If they did then it's no surprise they went bust!
A credit check should also have been done as part of that, as you are borrowing money.

Futterfly

I have a returned deposit from safestyle dated 17/10/ 23 as I mislaid the cheque but finally found them. I tried to cash them but my bank refused the payments. I call the administrator but they said they were not responsible for the cheques. I had rebook for  another quote with safestyle but they didn’t remembering them mentioning they were another company. 

sarah1972

Futterfly said:

I have a returned deposit from safestyle dated 17/10/ 23 as I mislaid the cheque but finally found them. I tried to cash them but my bank refused the payments. I call the administrator but they said they were not responsible for the cheques. I had rebook for  another quote with safestyle but they didn’t remembering them mentioning they were another company. 

Most banks won’t accept cheques over 6 months old so it’s correct that your bank wouldn’t cash it. 

The administrator isn’t responsible for cheques that the company made before going bust so again, that is quite correct.