Please help! RE: Section 75

dingdongavoncalling

We've made a large purchase towards building a home, with the deposit on credit card (would all have been on credit card if we had enough of a limit)

The company has gone bust. The total was over £30,000. Martin Lewis's advices this means section 75 does not apply and to use a chargeback, we can't do that as the invoice was paid via BACS, can anyone advice please, worried sick!

MorningcoffeeIV

You could potentially try a chargeback for the amount put on the card.

dingdongavoncalling

MorningcoffeeIV said:

You could potentially try a chargeback for the amount put on the card.

Thanks for your reply, unfortunately it's a savings account not a card  

born_again

Well you can chargeback the deposit. Sadly the rest is a case of join the rest of the creditors.

eskbanker

Hopefully an agreed staging of payments will mean that plenty of work has already been completed, i.e. you're not literally looking at a potential loss of £30K+?  Are there other companies able to step in to finish it off?

MorningcoffeeIV

dingdongavoncalling said:

MorningcoffeeIV said:

You could potentially try a chargeback for the amount put on the card.

Thanks for your reply, unfortunately it's a savings account not a card  

You said you used a credit card for the deposit.

Was that not true?

dingdongavoncalling

MorningcoffeeIV said:

dingdongavoncalling said:

MorningcoffeeIV said:

You could potentially try a chargeback for the amount put on the card.

Thanks for your reply, unfortunately it's a savings account not a card  

You said you used a credit card for the deposit.

Was that not true?

Yes that's true, that's for the £4k deposit. Not the rest of the balance.

dingdongavoncalling

eskbanker said:

Hopefully an agreed staging of payments will mean that plenty of work has already been completed, i.e. you're not literally looking at a potential loss of £30K+?  Are there other companies able to step in to finish it off?

It is a potential loss of that amount as it is for goods, not a service 😔

MorningcoffeeIV

dingdongavoncalling said:

MorningcoffeeIV said:

dingdongavoncalling said:

MorningcoffeeIV said:

You could potentially try a chargeback for the amount put on the card.

Thanks for your reply, unfortunately it's a savings account not a card  

You said you used a credit card for the deposit.

Was that not true?

Yes that's true, that's for the £4k deposit. Not the rest of the balance.

So that's your chargeback opportunity.

dingdongavoncalling

MorningcoffeeIV said:

dingdongavoncalling said:

MorningcoffeeIV said:

dingdongavoncalling said:

MorningcoffeeIV said:

You could potentially try a chargeback for the amount put on the card.

Thanks for your reply, unfortunately it's a savings account not a card  

You said you used a credit card for the deposit.

Was that not true?

Yes that's true, that's for the £4k deposit. Not the rest of the balance.

So that's your chargeback opportunity.

That's great, but a very small amount of the total (only the deposit).  

Nebulous2

What kind of large purchase? 

A single item over £30k, or individual items with different prices?

What you bought and what your invoice says could make a difference.