RentSmart have rung to ask what the problem is so I told them it was the price of the equipment. Suddenly they knocked it down from 350 to 215. I have now said that I only want some of the equipment and they are demanding I return the equipment to Manchester which is completely unreasonable. I have checked the agreement and it does say this in there but this was not pointed out when I hired the equipment. Basically they force you into a position of buying the equipment because it costs more to take it back to the address that they can specify. Nothing more than blackmail. I'm sure that they have to make sure that you understand all the terms and conditions though. Does anyone know? I should be able to return it to my local PC World.

I have just been doing a little more research and RentSmart state that they can offer you the computer equipment at the end of the lease at "market value". I wonder where they get their figures from? Is there anyone that has some inside information on this because clearly their "market value" does not take into account that the equipment is 4 years old - it is not as if it has been refurbished! Thanks

I thought that was part of the rental agreement that it had to be insured! If it is not legal is there something else I can throw at them?

I am currently having problems with RentSmart. I took out a hire agreement for a pc and less than 2 months later had to cease trading. I informed RentSmart just out of courtesy because I wasn't sure of the legalities and they informed me that I still had to pay the contract. I have just finished the lease and now they are asking that the equipment be returned or I pay an extortionate amount for equipment that is 4 years old! I am currently trying to find a tool to bargain with them. They have only been able to provide me with a copy of the original Agreement and state that they do not have the original themselves but there is no legal obligation for them to retain the original! I am waiting for a reply from someone in the hope that they will tell me that they have to keep the original Agreement. RentSmart are nothing more than crooks. Let us know how you get on.

As long as you can prove that the equipment is covered under your household policy you do not need to pay their insurance premium it's a complete [problem].

How have you got on? It is correct that you are personally liable for your business debts if you are a sole trader (it happened to me). What I don't understand is that there would be very little benefit in you purchasing computer equipment in this manner if you are not VAT registered. I have a problem with RentSmart so would be interested to know how you have got on. Johnny580

Is there a legal requirement for RentSmart to retain an original of the Agreement? I can't understand it. They state that they only have to keep a copy of the original, surely they should hold the original. The copy isn't even certified to state it is a copy of the original. I would be really really grateful for an answer to this question. Thanks very much people.

Hi MaxxPower It's just there's nothing in the Agreement so they can basically ask how much they want when realistically the equipment has been written off by them. They are asking far too much money for the age of the equipment on top of which I have had nothing but problems with them. When the changes in the VAT rate occurred they failed to send out a new invoice with the VAT changes so I paid the original amount. They then told me I was in arrears. I asked them for a VAT Invoice which stated the correct amount and then I would pay the remainding amount. I think it took something like 6 months for them to actually send me out a revised invoice which should have been done without asking. After one or two other hiccups and them accusing of myself and my wife lying to them, in particular, about me working out of the country I made a SAR Request and after reading the garbage in the file a few of their employees should become fictional authors because their story telling is second to none. Does anyone know if they have to retain the original AGreement or is it enough for them to say it is a copy of the original? Thanks

Can anyone tell me if RentSmart have to keep the original Agreement? Basically I have finished paying for rental agreement and they have now offered me the equipment at a ridiculous price considering it is 4 years old although there is nothing in the agreement about this and the Terms & Conditions do not form part of the entire agreement. I just want some ammunition to get them to reduce the price they are asking for the equipment after all I've probably paid double what it was worth! Thanks people.

Could anyone tell me if Rentsmart are required to keep the original credit agreement as they state there is no legal obligation for them to keep it as long as they have a copy! Is this correct?

I have now heard further from RentSmart and they say:- "The copy of the original is the only copy we hold, this is enough to show that you agreed to the terms of the agreement, along with the electronic evidence that shows when we generated the paperwork and how there has been nothing tampered with. Rentsmart is not obliged to retain the original agreement. Rentsmart is an appointed representative of a FSA authorised firm in connection with the sale of insurance products. However, the FSA are not the regulatory body in respect of hire agreements; this is the OFT. The advisor selling the equipment has an obligation to inform you that there are terms and conditions and to ensure you have the opportunity to read and are happy to agree to them. It is your obligation to ensure you understand the terms and conditions before signing the agreement. The terms and conditions and hire agreement when sent to the store are sent as one document and are to be printed off and presented to the customer in that way." Is this all correct?

Kind of, I can't disclose the details unfortunately, that is why I need to remove#### ###### and #### ###### from the thread.

I took out a hire agreement for computer equipment 4 year ago. I have made the final payment and now RentSmart are asking some ridiculous amount for me to retain the equipment. I have requested a signed Credit Agreement which they have supplied although I am not sure whether it is legally binding. There is no mention in the agreement that there is to be a final payment and when they have sent the agreement through PC World actually faxed the Credit Agreement to my home for me to sign. When they sent the Agreement through they failed to send through the Terms and Conditions. I have proof of this as the fax details are printed on the Agreement but not on the Terms and Conditions. Where do I stand with regard to the final payment and the equipment? Thanks

I wrote to CapQuest asking them to explain how they were going to institute court proceedings in view of the recent High Court Judgment. Their response was as follows:- Despite our numerous attempts to assist you to find an amicable solution to settle this account, the balance remains unpaid. Our investigations into your current financial position, based on the information we currently hole, are now complete and it is unfortunate that we find ourselves preparing a Statutory Demand under section 268(1)(a) of the Insolvency Act 1986 which will be completed on or around 22 Jun 11 which will be served upon you. If you do not apply to set aside the Statutory Demand within 18 days or otherwise deal with the demand, as set out in the appropriate notes within the demand, you could be made Bankrupt and your property and goods taken away from you. Any application to set aside the demand (Form 6.4 Schedule 4 to the Insolvency Rules 1986) should be made within 18 days from the date of service upon you and be supported by an affidavit (Form 6.5 in Schedule 4 to those Rules) stating the grounds on which the demand should be set aside. The forms may be obtained from the appropriate court when you attend to make the application. Remember: From the date of service of the Statutory Demand (a) you have only 18 days to apply to the court to have the demand set aside and (b) you have only 21 days before we may present a bankruptcy petition You can stop this by contacting us now on 0844 248 6659 Lo call Rates Apply. As one last conciliatory gesture we are offering you the opportunity to clear this account once and for all by paying a settlement of £935.19. This is subject to you accepting the offer by 22 Jun 11. This settlement can be over a time period that can be negotiated around your current circumstances. Alternative proposals will also be considered. Is this just a threat by CapQuest or will they actually follow through? Thanks

Re: Barclaycard/Mercers/Moorcroft/Calder Financial After receiving the odd letter from Capquest over the past year or so stating that they are still looking into finding a signed credit agreement, this morning I have received a letter from CapQuest enclosing a copy of Reconstituted Credit AGreement and copy of terms and conditions . CapQuest have asked me to contact them regarding how I wish to settle the account. What do I do from here? Does the recent High Court ruling change any of this and can they legally demand payment through the courts even though they cannot provide a signed credit agreement. Thanks