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  • FIRST POST
    • Dundee vet
    • By Dundee vet 9th Aug 18, 12:39 PM
    • 1Posts
    • 0Thanks
    Dundee vet
    Homebase credit
    • #1
    • 9th Aug 18, 12:39 PM
    Homebase credit 9th Aug 18 at 12:39 PM
    We are thinking about buying a kitchen from homebase and using their interest free offer (why wouldn't you). I just wonder if anyone knows what happens IF homebase goes into administration? Would the administrator be able to call in the debt (because of small print) or would they sell the debt to a purchaser who is required to honour the trrms of the agreement?
Page 1
    • zx81
    • By zx81 9th Aug 18, 12:47 PM
    • 18,996 Posts
    • 20,237 Thanks
    zx81
    • #2
    • 9th Aug 18, 12:47 PM
    • #2
    • 9th Aug 18, 12:47 PM
    They won't call in the debt but it would pass to the administrators.

    However, you would likely get an offer for early settlement.
    • Brock_and_Roll
    • By Brock_and_Roll 9th Aug 18, 12:49 PM
    • 863 Posts
    • 865 Thanks
    Brock_and_Roll
    • #3
    • 9th Aug 18, 12:49 PM
    • #3
    • 9th Aug 18, 12:49 PM
    Homebase will not be providing the credit themselves - it will come from one of the financial providers that they work with, usually Barclays or Clydesdale - so your contract will be with them.

    Nevertheless I would be very cautious here - risk is obviously that Homebase could go belly up before kitchen installed but after signed up for the credit - of after it is finished, rendering any warranties worthless.
    • venison
    • By venison 9th Aug 18, 8:12 PM
    • 2,422 Posts
    • 2,706 Thanks
    venison
    • #4
    • 9th Aug 18, 8:12 PM
    • #4
    • 9th Aug 18, 8:12 PM
    Would be a good idea to pay a token amount on a CC even 1 to get section 75 protection.
    Former Board Guide
    • Willing2Learn
    • By Willing2Learn 9th Aug 18, 8:16 PM
    • 1,585 Posts
    • 1,205 Thanks
    Willing2Learn
    • #5
    • 9th Aug 18, 8:16 PM
    • #5
    • 9th Aug 18, 8:16 PM
    Would be a good idea to pay a token amount on a CC even 1 to get section 75 protection.
    Originally posted by venison
    I'm unsure about this. But thought I would mention it anyhow. Aren't you covered under s75 with ordinary finance? After all, it will still be a CCA agreement...I *think*...
    Last edited by Willing2Learn; 09-08-2018 at 8:22 PM. Reason: grammar
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • T-G-C
    • By T-G-C 11th Aug 18, 4:39 PM
    • 392 Posts
    • 191 Thanks
    T-G-C
    • #6
    • 11th Aug 18, 4:39 PM
    • #6
    • 11th Aug 18, 4:39 PM
    Would be a good idea to pay a token amount on a CC even 1 to get section 75 protection.
    Originally posted by venison
    Doesn't the token amount paid on the credit card have to exceed 100 to become eligible for Section 75 protection or is it the total amount of the purchase that counts?
    All advice provided is intended for guidance purposes only. For specialized debt advice, please contact either National Debtline or StepChange.
    • Willing2Learn
    • By Willing2Learn 11th Aug 18, 5:19 PM
    • 1,585 Posts
    • 1,205 Thanks
    Willing2Learn
    • #7
    • 11th Aug 18, 5:19 PM
    • #7
    • 11th Aug 18, 5:19 PM
    Doesn't the token amount paid on the credit card have to exceed 100 to become eligible for Section 75 protection or is it the total amount of the purchase that counts?
    Originally posted by T-G-C
    It is the total amount that counts. For example, just make a token deposit of 1 on the credit card, the rest by debit card and you get the full s75 protection (as long as the total cost of the item is 100 or more).
    Last edited by Willing2Learn; 11-08-2018 at 5:25 PM.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Craig1981
    • By Craig1981 12th Aug 18, 7:57 AM
    • 335 Posts
    • 155 Thanks
    Craig1981
    • #8
    • 12th Aug 18, 7:57 AM
    • #8
    • 12th Aug 18, 7:57 AM
    I'm unsure about this. But thought I would mention it anyhow. Aren't you covered under s75 with ordinary finance? After all, it will still be a CCA agreement...I *think*...
    Originally posted by Willing2Learn
    from the financial ombudsman:
    ""Section 75 only applies where goods or services are bought using types of consumer credit where arrangements are already in place between the supplier of the goods and the provider of the credit. When the consumer uses that credit to make a purchase, this creates the necessary connection between the consumer, the lender and the supplier.

    For section 75 to apply, the provider of the credit and the supplier of the goods need to be separate businesses. Occasionally we see a complaint where the supplier of the goods has itself made the loan to the consumer to buy the goods - so no claim is possible under section 75
    In some cases we see, the consumer has bought online, using a credit card on a website that uses a secure third-party payment system to process credit card payments.

    Section 75 may not always apply to transactions made this way, because this payment mechanism can break the chain of arrangements that must be in place between the consumer, the lender and the supplier.

    But there are many different types of payment mechanisms used on suppliers' websites and not all of them prevent section 75 from applying. Where there is a dispute on this point, we look at the specific payment mechanism used and decide whether section 75 applies in the particular case.""
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