Wickes not taken payment from credit provider

born_again

Aylesbury_Duck said:

PaddyMashdown said:

Aylesbury_Duck said:

It sounds like a gamble.  Not doing anything gives you a slim chance of never paying for the kitchen but a more likely outcome is that at some point they'll want paying and you may be contractually obliged to pay interest.  If you're confident you can earn more interest on the money than they may be able to charge you, you might say nothing.

An administrative error doesn't absolve you of the debt (yet), nor does it necessarily make them unable to charge interest.  

This is good to know. You're right it does feel like a gamble. I've been saving up the money to avoid any interest on this at all, so knowing that I could be liable for interest, whether it was my fault or not, is a concern. They do usually say honesty is the best policy, so perhaps this rings true here too. 

If it's going to be a constant worry (and posting here asking about it suggests it will be) then I'd periodically chase the finance company while continuing to put the money aside.  When you get near the end of the initial interest-free period, write to them.  If they then realise their error and start the agreement, you may get another nine months interest-free but if not, you have the money to settle the debt there and then.

Given it is Wicks that have not informed finance co. Which is why they are not taking the  funds.
Then chasing Wicks would seem the best way forward.

sheramber

PaddyMashdown said:

sheramber said:

Thst agreement doesn’t mention 9 months.

it is for 48  consecutive monthly payments

It's a 57-month agreement, with 48 consecutive monthly payments 

With nothing to pay for the first 9 months

https://kitchens.wickes.co.uk/content/wickes-bespoke-kitchen-finance

Buy Now, Pay Later

• With “Buy now, pay later” your first repayment will be due 9 months after the date of your delivery or completion of your Wickes installation.

'''''''''''''''''''''''

• Repayments are spread over 48 months. (The credit agreement is for 57 months).
• The first repayment is classified as being deferred for 9 months. The deferral period is a payment holiday and is not an interest free period.

teaselMay

It's not 9 months since April yet, that's when you start paying

PaddyMashdown

So this is now concluded - clearly my call to Navuna sparked something - I received a welcome email and my account was set up with them, they have started the contract term today, so the first payment is due 9 months from today, rather than from the original delivery/installation. Obviously It had been an admin error on one of the parties' parts, and I am fortunate because this has effectively extended my pay later period by 7 months. I guess being accidentally honest by calling them in the first place has paid off

PaddyMashdown

sheramber said:

PaddyMashdown said:

sheramber said:

Thst agreement doesn’t mention 9 months.

it is for 48  consecutive monthly payments

It's a 57-month agreement, with 48 consecutive monthly payments 

With nothing to pay for the first 9 months

https://kitchens.wickes.co.uk/content/wickes-bespoke-kitchen-finance

Buy Now, Pay Later

• With “Buy now, pay later” your first repayment will be due 9 months after the date of your delivery or completion of your Wickes installation.

'''''''''''''''''''''''

• Repayments are spread over 48 months. (The credit agreement is for 57 months).
• The first repayment is classified as being deferred for 9 months. The deferral period is a payment holiday and is not an interest free period.

Okay yes my terminology was off - 9 months payment deferal, not 9 months interest-free.