Better than winning the lottery for Brighthouse

[Conniff]

A mum-of-six has hit out at a rent-to-own company after the cooker she bought from them broke down – and she had to wait four weeks for it to be fixed.

 

Tracy Stevenson, 40, of Briery Way, Adeyfield, Hemel Hempstead took out a payment plan for the new Beko induction cooker from Brighthouse in the town centre at £11.82 a week.

 

Over the next three years, the cooker – worth £666 – will set the family back £1,843.92, which is an APR representative of 69.9 per cent.

 

More ...

 

Just look at those rip-off interest rates. She paid £1,178 more than she needed, she could have taken her family on holiday or fed them steak with that.

 

Stop being proud and get your goods in a second-hand or charity shop and use that until you have saved up enough to buy a new one.

 

You can bet your life the boss of Brighthouse hasn't got a cheap Beko in his house and doesn't live on chicken nuggets.

Edited August 2, 2015 by Conniff

[obiter dictum]

I think a bit of honesty is needed with this.

 

Most of the clients probably have not got the educational knowledge to understand APR and what they will be paying back. They are probably on benefits and minimum wage as well. That is not an excuse to exploit them though

 

The average person who use this company are already credit blacklisted or fail to meet main stream lending criteria. The likes of companies such as BH exploit this. The same goes for Provident, Wonga, welcome finance etc

 

What is needed is legislation stopping any loan shark rates above say 50% APR %

[Conniff]

All agreements show the cost of the item and the total amount to be paid, not enough attention is paid to that.

 

I agree legislation but education is also needed.

[SabreSheep]

Too many the thought of getting a new appliance or gadget now despite paying a high whack is more preferential than saving and/or the inability to get credit at reasonable rates.

[GrumpyToSayTheLeast]

A mum-of-six has hit out at a rent-to-own company after the cooker she bought from them broke down – and she had to wait four weeks for it to be fixed.

 

Tracy Stevenson, 40, of Briery Way, Adeyfield, Hemel Hempstead took out a payment plan for the new Beko induction cooker from Brighthouse in the town centre at £11.82 a week.

 

Over the next three years, the cooker – worth £666 – will set the family back £1,843.92, which is an APR representative of 69.9 per cent.

 

More ...

 

Just look at those rip-off interest rates. She paid £1,178 more than she needed, she could have taken her family on holiday or fed them steak with that.

 

Stop being proud and get your goods in a second-hand or charity shop and use that until you have saved up enough to buy a new one.

 

You can bet your life the boss of Brighthouse hasn't got a cheap Beko in his house and doesn't live on chicken nuggets.

 

Proud???? Have you ever been in a position where you cant afford a £1 for milk?

Ever not been able to put £5 gas in?

It's got edited all to do with being proud, its got to do with not having savings as living on the bread line, not having a normal credit line, not having friends and family to help out.

There is no way some of these families can afford £200 for a second hand cooker or even fifty pound to get a clapped out old rusty one.

That is a very silly out of touch comment by you there. Sometimes, all these families can do is take out a credit line with bright house or similar and just hope to make the weekly payments.

 

Yes, there are other ways, bit for some, the other way is just not an option. Sometimes its get sucked into bright house or go without.

Edited August 2, 2015 by Conniff
remove swearing

[GrumpyToSayTheLeast]

Too many the thought of getting a new appliance or gadget now despite paying a high whack is more preferential than saving and/or the inability to get credit at reasonable rates.

 

Yes, I agree, to an extent, but as I have written in my last post, sometimes there is no other option.

[Conniff]

Proud???? Have you ever been in a position where you cant afford a £1 for milk?

Ever not been able to put £5 gas in?

It's got edited all to do with being proud, its got to do with not having savings as living on the bread line, not having a normal credit line, not having friends and family to help out.

There is no way some of these families can afford £200 for a second hand cooker or even fifty pound to get a clapped out old rusty one.

That is a very silly out of touch comment by you there. Sometimes, all these families can do is take out a credit line with bright house or similar and just hope to make the weekly payments.

 

Yes, there are other ways, bit for some, the other way is just not an option. Sometimes its get sucked into bright house or go without.

 

Do you think I am on this consumer help site because I'm a millionaire - get real, I've been there, done that and got the T-shirt, so climb down of your high horse.

Edited August 2, 2015 by Conniff

[SabreSheep]

Yes, I agree, to an extent, but as I have written in my last post, sometimes there is no other option.

 

I agree which was covered by "/or the inability to get credit at reasonable rates."

[Sparks_]

Brighthouse and other weekly pay shops are raking it in because of the removal or difficulty to get budget loans off the DHSS

[GrumpyToSayTheLeast]

Do you think I am on this consumer help site because I'm a millionaire - get real, I've been there, done that and got the T-shirt, so climb down of your high horse.

 

What high horse? If you "have the tshirt", why do you assume that these folk can just go and buy a second hand cooker. I think you will find that is YOU on the high horse.

[GrumpyToSayTheLeast]

I agree which was covered by "/or the inability to get credit at reasonable rates."

 

My point was that you say its just because they want, and they could save. They could save. They could save the £6 a week for 12 months and then go and by a cooker. But what do they do in the meantime? Sometimes there is NO option but to visit a legal loan shark like this.

[fkofilee]

Folks, chill... We have been down this route before... We have loads of threads on BAYV, Caversham Finance and PH...

The end of the story is that not enough is being done to explain to people why they shouldnt be using these companies.

[SabreSheep]

I fully support the idea of increasing awareness of Credit Unions that might help people from falling victim to these loan sharks

[Mr.P]

I fully support the idea of increasing awareness of Credit Unions that might help people from falling victim to these loan sharks

 

So what can we do to get the message across ?

[citizenB]

So what can we do to get the message across ?

 

Now that is a very good question. CAG has promoted the Credit Unions via the Newsletter - dedicated threads and on threads where people are complaining about these BAYV companies AND still people will not seek help from their credit unions. !!

[fkofilee]

I have an idea, Let me draft it and ill come back...CitB can you message me?

[Conniff]

If you can't afford a pound for milk or 5 for gas, then you can't afford 12 per week finance. What's the point of having a cooker if you can't afford to buy anything to cook.

[marcus6]

My point was that you say its just because they want, and they could save. They could save. They could save the £6 a week for 12 months and then go and by a cooker. But what do they do in the meantime? Sometimes there is NO option but to visit a legal loan shark like this.

 

wow take a time out will you!!

 

I use to be with BH and i have made do with out them, for the past 3 years, you can pick up 2nd hand items for 40.00 to 60.00 and for most that are with BH thats about how much they pay to them each week, so they could go and get a 2nd hand cooker within 1 or 2 weeks, you don't always need a cooker to eat?

[fkofilee]

If Brighthouse vastly changed their ways and reduced their prices considerably, would your thoughts on them change?

[sillygirl1]

A reduction in their horrendous prices would help many of their potential and current customers.

 

They seem to add on at least half as much again to the price of an item and add in all the extras to make it seem a good deal - when it isnt.

 

I've had excellent items from our local freecycle group - that is another option open to some people, there are always cookers going on our local one.

 

The trouble is people are lulled into a sense of security and acceptance by these companies and can't get out of the cycle when they are in it.

[obiter dictum]

I agree Sillygirl

 

Most of us have fell for the Payday loan run around in our past

 

Once you are in it, then it is very hard to get out of the endless cycle

[citizenB]

I have just read the article that was linked - it was slow in loading when coniff first posted this thread.

 

 

Tracy, whose two older children live elsewhere, says she usually cooks chicken nuggets, pizza and pies for children Blake, 19, Brandon, 18, Brooklyn, 15, Kirstin, 12, and five-year-old Mackenzie when the oven is working.

 

 

Tracy, whose husband David, 42, is unable to work because of disability, said: “It’s not on. I have kids with special needs – Blake has ADHD and Brandon has Asperger’s, so we shouldn’t have been left for that long without a cooker.

 

Some of the comments are quite beastly, however I can understand why they were made.

 

One of the children apparently has ADHD and the above menus are cooked when the oven is working. TBH, that is not cooking it is heating up !! And, why on earth would you feed a child with behavioural problems such dreadful foodstuffs ?

[estellyn]

It would also be nice to see 'layaway' plans available, either as a government backed scheme with a minimal fee, or on offer by stores that sell essential home items. Although it doesn't help in times of emergency, it is useful for some to have that money locked away for the new item, regular smaller payments, and not having to go into debt.

 

I agree about the second hand and freecycle items, these are an excellent resource - apart from a bed we already had, my husband and I kitted out our first unfurnished rented home together with second hand goods for about £150 (14 years ago). You used to be able to get some good second hand stuff from the age concern furniture shops, but their prices have increased.

 

Budgeting loans are still available to those on income based benefits, but in my experience, too many people will use them for a 'nice christmas', rather than what they should be used for, and when something breaks down, don't have that avenue available to them as they're still paying off the last loan.

[ericsbrother]

When my MiL died we offered a chaity that recycles furniture her belongings and they rejected most of them, even though they give them away because apparently those people living in poverty in Dorset need a large flat screen telly and not a mere 28" JVC with separate Freeview box. They were also hard pushed to accept an almost new washing machine and bed (had been used with mattress cover so spotless), the former because they would have to offer the recipient a guarantee even though it would be donated to them and the bed because it was used.

When I married some 35 years ago we had a secondhand bed that belonged to my grandparents when they got married and didnt have a telly for 2 years and then a valve driven B&W set.

I do think that sometimes people do look a gift horse in the mouth and make everyone else in the same predicament a laughing stock (story above) and sometimes the rules forced upon well-meaning people and charities are too sureal to be believeable but they, like all sterotypes exist.

[Conniff]

When my MiL died we offered a chaity that recycles furniture her belongings and they rejected most of them, even though they give them away because apparently those people living in poverty in Dorset need a large flat screen telly and not a mere 28" JVC with separate Freeview box. They were also hard pushed to accept an almost new washing machine and bed (had been used with mattress cover so spotless), the former because they would have to offer the recipient a guarantee even though it would be donated to them and the bed because it was used.

When I married some 35 years ago we had a secondhand bed that belonged to my grandparents when they got married and didnt have a telly for 2 years and then a valve driven B&W set.

I do think that sometimes people do look a gift horse in the mouth and make everyone else in the same predicament a laughing stock (story above) and sometimes the rules forced upon well-meaning people and charities are too sureal to be believeable but they, like all sterotypes exist.

 

A lot of charities are set up because someone has seen a gap where they can make big profits for very little outlay and not much work. It's time those applying for charitable status were looked at closer and the ticket not just handed to them because they asked.