pslewis

Good Luck

Pete

G00ner

With HFC?

You try and find exactly how you pay or try and get a statement from these people.

I moved house and couldn't find the paperwork, but knew the date I purchased the laptop, so I made sure the full amount was settled a month early.

"We'll send all the paperwork in the post for you" twice asked, never received.

HFC website doesn't mention how to contact them if you have a loan, I had to go into PC World and get ****ty with them to get the exact details and then called HFC and settled the full amount whilst sat outside in the carpark.

Don't assume that because people buy things on the drip that they can't afford to buy them in the first place.

The finance company should have an obligation to ensure they contact the borrower in good time before the 0% option expires.

They would soon be in touch if you missed a payment.

jbryant

Sorry Tiggs I disagree. Although anyone who intends to make full payment and simply forgets to pay through whatever reasons fully deserves to be charged, the companies involved in these operations (by the majority of responses to this post and numerous appeareances on Watchdog, Which, and the like) show that they will do whatever is possible to make sure you miss your payments. No reminder letters? Nothing else gets lost in the post for me. No receipts for payments or ability to track down what you've honestly sent to them? That's all bad business and sneakyness from companies that have the ability to hide behind the retail chains that sign up with them to get a slice of the profits. I am sure many just give up and pay up.

Bottom feeders may be an incorrect term in this instance in the most popular definition. Many of the people who sign up really just can't afford the service and end up paying the horrendous interest rates. Fair enough - That's the service on offer and more fool them. I think the majority of the people on this board have probably already got the disposable income, and bought items with the full intent on pocketing a year's worth of interest on their hard earned cash before paying off in full. That's simply the sensible thing to do. The lengths the finance companies sometimes go to (or more specifically do not go to) to prevent you from doing this is scraping the barrel for that last ounce of profit, hence my calling them bottom feeders. It's just my opinion after all

Hope this helps

Joolz

Dracoro

Don't people set up DD or standing orders for this sort of thing?

Brendan Hughes

Exactly, they play the game to their advantage. Make a ****-up, and they scream. It's their oversight, and although it's mildly sneaky by the FC, it's only the FC playing the game as well.

At the end of the day, ask yourself this question. If the contract had all the same terms but didn't contain a clause saying the FC would send you a reminder, or if they told you they would not send any reminders during the period, would you still sign it? If yes - it's your fault. If not - you might be able to escape due to their breach. I think most people here wouldn't give a damn about the reminder at the time of signing. As such - their loss when they forget. Sorry.

lordharding

iTrader: (1)

The furniture shops and PC World etc want you to buy now pay later


£5 commission per salesman + warrenty £10 aprox

Good repeat buisness as a customer gets used to paying £30 a month and then will be bombarded with letters offering more loans for repeat buisness

Finance company sells your details to other lenders

They DONT send out reminders as 25-35 % of people forget to pay on time so a nice little earner for the finance company

The shop pays the finance company 7-9 % off the loan value if they pay up

The shops want finance customers as

Less cash to bank at branch level

which costs money to pay in

Keeps the sales staff happy and retains them if they can make good spivs on selling finance rather then 1% commission IF THEY HIT unachievable sales targets


wellcome to retail and finance secrets


My tip shop around

always pay by Credit card in case goods are faulty or company goes bust

and get a % free card for 9 months if you want to spread the payments

Tiggs

the companies are bottom/idiot feeders who are, themselves, utilised by the smart.

the smart take the money and pay it off, the bottom dwellers cant afford to pay it off and result in profit to the lender.......and the idiots forget to pay it off

anyone that needs a company to remind them that they will save £xx by paying on a certain day needs a slap and a calander.

Brendan Hughes

That doesn't refer to your clients then?

MattN

I did my sofa on pay in 12 months.

I got the letter saying thanks for taking the finance blah blah, and at the bottom it specifically stated they WILL NOT send a reminder when the 12 months is up.

pslewis

We are eagerly awaiting Terminator X's explaination as to what they said when he rang them ...................... because, surely, he DID ring today?????? Didn't he??

Pete

Terminator X

iTrader: (7)

That reminds me, how do you keep an idiot in suspense ...

TX.

jbryant

Now I'm totally in agreement with that set of statements
Joolz

Terminator X

iTrader: (7)

... I'll tell you tomorrow Pete.

TX.

Terminator X

iTrader: (7)

Pete?

You'll be pleased to hear that I managed to wangle my way out of it & didn't pay them a penny over the interest free amount ... ho hum!

TX.