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Hi everyone,
Could do with a bit of advice fairly quickly as am in the beginning of negotiations with creation finance.
Basically,i got suckered with one of those buy now pay later deals and they 'never got' my cheque of full payment by the no interest date - and nowthey want to charge a ridiculous amount. We bought a TV and warranty totalling £1688, but they told us that we had to have PPI should it go into the credit period, so we agreed. So now 3 weeks after the special payment date, they say that to pay it all off we can ay £3300roughly which is apparently the TV, warranty, PPI and a years interest on each.
I certainly understand that as I didnt send the cheque recorded its my responsibility and I agree to paying a years interest, but what I dont want to pay for is the PPI and interest which adds another £850 as I know now that it was missold, but they wont budge at all. What should I do, they say I must pay this by 2/2/2008 or it reverts to £4500 or so. Should I pay the lot and then try to claim back the PPI back later?
This sounds to me like a very strange agreement, and potentially one that could contain unfair contract terms. However, with the urgency and potential for a costly mistake, I would advise that you ring Trading Standards tomorrow and seek advice from them.
Alan, Derby, UK.
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Thanks alan, I'll ring them now. I did visit CAB this morning, but they seemed to know less anout PPI than I did. They think they're not commiting any illegality by making PPI compulsary, and advised that I'm not in a position to renegotiate whatever charges crappy creation seem to think they can apply. The advice given was to pay up whatever they ask and try to get back anything unfairly applied by contacting FSA, which is probably what I'll have to do, being as they've given me two weeks to pay this 'special one off payment penalty rate' - before it becomes an even higher amount. I've written to 'creative with the rates' using adapted templates from the forum, asking for PPI documents illustrating why it is compulsary, that they state in they're letter that it is compulsary, that a proper contract be sent and that they freeze the account (guarantee they wont do that) I just know tht they wont send any of it back before that payment is due.
Worst thing is this is the first real HP type thing we've ever had - we dont even have credit cards!!
recorded delivery is still no guarantee ,the courts issuing summons use standard 1st class .recorded delivery is sent the same way as normal post ,it,s just that the postie has to get a signature.if it was me i would stick to my guns re-issue another cheque.only have contact with them by letter never by phone.these people are relying on you to give them what they want.the trouble with these type of arrangements you can never leave it till the last minute to pay .if they take you to court ,you have ok it,s only a cheque stub,however if the funds were available in your account the judge could see that you were able to make this payment and it is in your best interest to do so .hth
Thanks Lilal, Its nice to have someone think exactly the same thing as me - that was my argument - I may only have the cheque stub - but I did hav the money in the bank and so clearly was able to pay - why would I wait 3 weeks to ring up and pay when I know I'll get ripped off!! They're so awful though, I've given up arguing - you're right - all correspondance will be by post now, and I will keep at them. Though the advice i've had from FSA, trading standards etc tell me to pay up and fight after
PPI to pay or not to pay - please help
date - and nowthey want to charge a ridiculous amount. We bought a TV and warranty totalling £1688, but they told us that we had to have PPI
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.if they take you to court ,you have ok it,s only a cheque stub,however if the funds were available in your account the judge could see that you were able to make this payment and it is in your best 
.hth