Everest Double Glazing in administration

Deaner

gilesco said:

born_again said:

Deaner said:

It's a near certainty that a chargeback would be blocked by the administrators, hence Section 75. 

The only reason they could use would be that they are supplying the goods. S75 is not a get out of jail free card. Your CC will go chargeback route, as they can reclaim the money, rather than payout out themselves.👍

Never known a administrator decline a chargeback on any case worked. 

The first thing a Liquidator/ administrator does is close down any deposit accounts and move those funds to their account. I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

I agree with gilesco. Chargeback is worth a try but highly unlikely to work. The administrators will be protecting the company assets for secured & priority creditors. Any amounts paid back to unsecured creditors (us) would undermine their objective & duty.

eskbanker

gilesco said:
I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

That's not how chargeback works - if there are insufficient funds then it's the company's merchant bank that's on the hook to pick up the tab.  However, the administrators are entitled to dispute the chargeback, which puts the ball back into the customer's bank's court to determine if/how to proceed....

gilesco

eskbanker said:

gilesco said:
I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

That's not how chargeback works - if there are insufficient funds then it's the company's merchant bank that's on the hook to pick up the tab.  However, the administrators are entitled to dispute the chargeback, which puts the ball back into the customer's bank's court to determine if/how to proceed....

I have done the CB route, as I used a debit card, I have also registered the debt with Re|solve. There is still a chance the order will be passed to another supplier (as manufacture of the windows should be in progress and they can't use those windows on any house other than ours).

It's a nightmare situation, don't think there is anything else I can do, for my case anyway.

gilesco

Did anyone else who has registered for the ims-docs notifications get the message:

"Document AM01 complete published on 02/05/2024 15:09:07"

Only to find that at first the document was unavailable, then dissapeared completely?

gilesco

born_again said:

gilesco said:

I'm down £23,972 paid by debit card. Only found out today, when chasing Everest up for an install date, then the ReSolve letter arrived this afternoon. Have tried the chargeback option via online form for both payments. No confirmation /response from NatWest. No NatWest phone number anywhere on their site either. Do banks still employ people at all?

https://www.natwest.com/support-centre/contact-us.html

It will take them time to look at your claim & action it. 
Remember that NW will be receiving hundreds or thousands of disputes a day. So it takes time to work through them. Never mind in terms of Everest, banks are talking to Visa/Mastercard about the situation & how they will progress it. As they are only in administration. Not fully gone bust.

Banks who had hundreds of thousands of clients used to have thousands of bank employees to service them, we seem to have eek'ed it out to 1 employee per hundred thousand...

This episode has turned me into an old grumpy man overnight!

Ectophile

Deaner said:

gilesco said:

born_again said:

Deaner said:

It's a near certainty that a chargeback would be blocked by the administrators, hence Section 75. 

The only reason they could use would be that they are supplying the goods. S75 is not a get out of jail free card. Your CC will go chargeback route, as they can reclaim the money, rather than payout out themselves.👍

Never known a administrator decline a chargeback on any case worked. 

The first thing a Liquidator/ administrator does is close down any deposit accounts and move those funds to their account. I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

I agree with gilesco. Chargeback is worth a try but highly unlikely to work. The administrators will be protecting the company assets for secured & priority creditors. Any amounts paid back to unsecured creditors (us) would undermine their objective & duty.

The administrators would have to produce a reason why the chargeback if invalid.  "We don't want to lose the money" isn't a good reason.  If the goods aren't going to be delivered, then the chargeback will succeed.

gilesco

Ectophile said:

Deaner said:

gilesco said:

born_again said:

Deaner said:

It's a near certainty that a chargeback would be blocked by the administrators, hence Section 75. 

The only reason they could use would be that they are supplying the goods. S75 is not a get out of jail free card. Your CC will go chargeback route, as they can reclaim the money, rather than payout out themselves.👍

Never known a administrator decline a chargeback on any case worked. 

The first thing a Liquidator/ administrator does is close down any deposit accounts and move those funds to their account. I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

I agree with gilesco. Chargeback is worth a try but highly unlikely to work. The administrators will be protecting the company assets for secured & priority creditors. Any amounts paid back to unsecured creditors (us) would undermine their objective & duty.

The administrators would have to produce a reason why the chargeback if invalid.  "We don't want to lose the money" isn't a good reason.  If the goods aren't going to be delivered, then the chargeback will succeed.

I admire your optimism... but after taking out a bank loan for £30k of home improvements and to find that £24k is now stuck in limbo, I can't share how ***** I feel about this. I did all the checks at the time, Which, Trustpilot etc... I'm now stuck with a 10 year home improvement loan mostly services and products I will never receive.

I could have gone with a finance deal to pay 12.9% over 7 years, but I went with the bank with a 7.9% deal over ten years hoping to pay it off early too.

Not crying, but well ****** off, sometimes their own finance deal at a higher rate may be the better option? Or would I have still ended up owing the full amount?

Aylesbury_Duck

gilesco said:

Ectophile said:

Deaner said:

gilesco said:

born_again said:

Deaner said:

It's a near certainty that a chargeback would be blocked by the administrators, hence Section 75. 

The only reason they could use would be that they are supplying the goods. S75 is not a get out of jail free card. Your CC will go chargeback route, as they can reclaim the money, rather than payout out themselves.👍

Never known a administrator decline a chargeback on any case worked. 

The first thing a Liquidator/ administrator does is close down any deposit accounts and move those funds to their account. I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

I agree with gilesco. Chargeback is worth a try but highly unlikely to work. The administrators will be protecting the company assets for secured & priority creditors. Any amounts paid back to unsecured creditors (us) would undermine their objective & duty.

The administrators would have to produce a reason why the chargeback if invalid.  "We don't want to lose the money" isn't a good reason.  If the goods aren't going to be delivered, then the chargeback will succeed.

I admire your optimism... but after taking out a bank loan for £30k of home improvements and to find that £24k is now stuck in limbo, I can't share how ***** I feel about this. I did all the checks at the time, Which, Trustpilot etc... I'm now stuck with a 10 year home improvement loan mostly services and products I will never receive.

I could have gone with a finance deal to pay 12.9% over 7 years, but I went with the bank with a 7.9% deal over ten years hoping to pay it off early too.

Not crying, but well ****** off, sometimes their own finance deal at a higher rate may be the better option? Or would I have still ended up owing the full amount?

It depends.  If the finance deal offered carried S75 protection, then the credit provider would be jointly liable.

gilesco

Aylesbury_Duck said:

gilesco said:

Ectophile said:

Deaner said:

gilesco said:

born_again said:

Deaner said:

It's a near certainty that a chargeback would be blocked by the administrators, hence Section 75. 

The only reason they could use would be that they are supplying the goods. S75 is not a get out of jail free card. Your CC will go chargeback route, as they can reclaim the money, rather than payout out themselves.👍

Never known a administrator decline a chargeback on any case worked. 

The first thing a Liquidator/ administrator does is close down any deposit accounts and move those funds to their account. I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

I agree with gilesco. Chargeback is worth a try but highly unlikely to work. The administrators will be protecting the company assets for secured & priority creditors. Any amounts paid back to unsecured creditors (us) would undermine their objective & duty.

The administrators would have to produce a reason why the chargeback if invalid.  "We don't want to lose the money" isn't a good reason.  If the goods aren't going to be delivered, then the chargeback will succeed.

I admire your optimism... but after taking out a bank loan for £30k of home improvements and to find that £24k is now stuck in limbo, I can't share how ***** I feel about this. I did all the checks at the time, Which, Trustpilot etc... I'm now stuck with a 10 year home improvement loan mostly services and products I will never receive.

I could have gone with a finance deal to pay 12.9% over 7 years, but I went with the bank with a 7.9% deal over ten years hoping to pay it off early too.

Not crying, but well ****** off, sometimes their own finance deal at a higher rate may be the better option? Or would I have still ended up owing the full amount?

It depends.  If the finance deal offered carried S75 protection, then the credit provider would be jointly liable.

It was kind of sold as in-house credit. I didn't give it too much credence with the 12.9% attached.

Deaner

Ectophile said:

Deaner said:

gilesco said:

born_again said:

Deaner said:

It's a near certainty that a chargeback would be blocked by the administrators, hence Section 75. 

The only reason they could use would be that they are supplying the goods. S75 is not a get out of jail free card. Your CC will go chargeback route, as they can reclaim the money, rather than payout out themselves.👍

Never known a administrator decline a chargeback on any case worked. 

The first thing a Liquidator/ administrator does is close down any deposit accounts and move those funds to their account. I am dubious as to whether a chargeback would be successfully done if there are no funds in the original account that was transferred to.

I agree with gilesco. Chargeback is worth a try but highly unlikely to work. The administrators will be protecting the company assets for secured & priority creditors. Any amounts paid back to unsecured creditors (us) would undermine their objective & duty.

The administrators would have to produce a reason why the chargeback if invalid.  "We don't want to lose the money" isn't a good reason.  If the goods aren't going to be delivered, then the chargeback will succeed.

Ultimately we will see, but I suspect it may well not succeed. On the basis of what you've said, you could have a situation that, where assets are significantly less than liabilities, enough unsecured creditors strip the company assets to a point where the administrators cannot even meet the company's secured creditors claims. In other words, it amounts to paying out creditors in reverse order of legal obligation. That doesn't happen. It would be a great outcome if chargeback works for everyone but it's naive to believe that it will. Very best of luck to all those who try however, it's certainly worth a go.