Please help! RE: Section 75

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!
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  • MorningcoffeeIV
    MorningcoffeeIV Posts: 1,875
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    You could potentially try a chargeback for the amount put on the card.
  • 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
    born_again Posts: 13,534
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    Well you can chargeback the deposit. Sadly the rest is a case of join the rest of the creditors.
    Life in the slow lane
  • eskbanker
    eskbanker Posts: 29,799
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    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
    MorningcoffeeIV Posts: 1,875
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    edited 4 January at 10:11PM
    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?
  • 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.
  • 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
    MorningcoffeeIV Posts: 1,875
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    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.
  • 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
    Nebulous2 Posts: 5,063
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    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. 
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