Comet and HFC finance company

[j.wandless]

Hi

 

We had a nasty experience through Comet and were totally ripped off. We purchased a 42" plasma t.v at a cost of £1999. We bought it on 0% interest for the first 9 months - after that it went up to the usual hugely inflated interest rate that these stores charge.

 

However, we had previously purchased a digital camcorder from the same store - on the same terms - and when the interest free period was nearly up they wrote to us informing us that it was coming to an end and that the interest rate would go up if we didn't settle the balance. We assumed they would do the same with the t.v.

 

Our payments for the t.v were approximately £88 a month and the fincance company used by Comet was HFC. When I phoned up the finance company to pay off the outstanding amount - which I thougt was still in the interest free period as we received no letter from them - I was informed that the balance was £1800 (approx). Obviously I queried this and was informed that we had purchased the t.v 11 months ago. So we had paid £968 and had only cleared £200 of the balance. I was furious and asked to speak to a manager. I explained that we had received no letter but they would only reduce the balance by £100.

 

This was about a year ago - I know there's nothing I can do about it now - but just thought I would share my experience - and warn others

 

Debbie

[blacksheep1979]

Alot of these 0% interest companies don't warn you - however mates have ahd very good experiences with HFC, they are willing (at times) to remove charges just if you ask nicely - if you miss a payment then phone them up and settle the missed payment they will just take the fees straight off

[j.wandless]

Hi

 

My issue with HFC is that for a relatively cheap item ( few hundred pound for camcorder) they did write to us warning us that the 0% period was nearly finished, however, for an expensive item - £2000 - they didn't bother. If they do it for one then they should do it for all. My thinking is that they will make more money from the more expensive items - so it's in their interest not to warn people.

 

Debbie

[james23_uk]

This is nothing to do with Comet. They sell your debt onto HFC the second you buy the product.

[Rich44]

They dont sell your debt on as such its a credit plan with HFC in the first place (same result but not technically the same thing at all, sorry to be picky)

[big blue one]

even so it is comet giving the incorrect information. as they do not always write to you.

[karlshields]

i bought stuff from comet, and i got credit of a company called capital, anyone have any more info on this company???

[blacksheep1979]

If you give the full name of the company someone may be able to help

[karlshields]

the full name is GE Capital, They have transfered or sold the debt on, but would like to see how much charges they hit me for,

[veronicafleetwood]

hi i brough some items from comet. which is GE CAPITAL BANK LIMITED. can i claim my interest back off them or not i took the 12 MONTH INTEREST FREE but then my washing machine and fridge went at nearly the some time so i had to put them on my EDGE card and i am still paying them now, they are charging me 5.65 a month interest only got 150.00 to pay now but i have had one of these cards a few years ago so if anyone can advise me what to do can i get any money back of this company thanks veronica

[Bookworm]

No, you can't. It's a legitimate (albeit high) interest rate, and you had the option to pay off the debt before the interest went on.

[rkent06]

I have dealt with HFC a couple of times and i have some advice;

 

Firstly you are often taking out a plan to repay over a large amount of time such as 48 months, only 6 or 9 months of this will be interest free, the amount you are paying off is often very low each month because of this and you need to make extra payments if you want to pay it off before the interest kicks in.

 

personally i currently have an xbox brought from currys which cost around £350, the direct debit is only set up to take £12 per month which is tiny so i set up a standing order for a further £70 per month, meaning i pay off £82 a month and clear it within the 6 months. (to set up a standing order use the sort code and account number on the paper work from hfc).

 

Also I would try to get them to knock at least £19 from the cost of the goods when you buy them because this is the admin fee you will get charged when you make your final payment, not exactly interest free hey?

 

In my experience hfc is not that bad a company, you just need to be clued up as to what to pay each month and just like a credit card, dont ever just pay the minimum off each month EVER!!!.

[Chucky1973]

I am new to this, so hi.

 

I am just looking at all my finances and to be honest its a bit of a mess, I am having issues with HFC and Marbles and would like some advice, like the above i brought a camcorder and tele from Comets in 2005 and had the "loan" transfered to HFC or Benifical Finance, the total cost was about £1000, I paid off a fair wack in the year but not all as could not afford anymore, to this day I am still paying £56 a month and my balance is around £1700!! I have now stopped paying and need advice if there is anything I can do, PPI claim back or something similar. Hindsight is a wonderful thing and I would have done it different, but over the last few years money has been ok, now its tough and I need to stop paying out to companies that have had there fair share! I am in the same boat with Marbles over a 3 peice sweet purchased in Oct 2005 and although the oringinal cost was only £1100 I still owe about £2000 to them.

 

Any advice would be good.

[s12345a]

Just wanted to confirm is it definatly Comet or is it Currys. As far as i'm aware Comet deal with Santandar and in the past they dealt with GE Money. Currys however have had dealings with HFC.

[Chucky1973]

Just wanted to confirm is it definatly Comet or is it Currys. As far as i'm aware Comet deal with Santandar and in the past they dealt with GE Money. Currys however have had dealings with HFC.

 

Would Comet have dealt with Marbles? I have never brought from Currys?

[s12345a]

Would Comet have dealt with Marbles? I have never brought from Currys?

Not as far as I'm aware.