Terribly sad news about BrightHouse

[BankFodder]

Quote

BrightHouse - the biggest rent-to-own operator in the UK - has collapsed, with administrators now attempting to salvage parts of the business.

Customers should continue to make the monthly payments required to keep their household goods, with administrators now acting as the collecting agent.

The company had been struggling after an influx of compensation claims for selling to people who could not repay.

Its shops were then shut owing to coronavirus restrictions on retailers.

Julie Palmer, from corporate recovery business Begbies Traynor, said: "Coronavirus was the final nail in the coffin for BrightHouse."

 

https://www.bbc.com/news/business-52090976

 

Oh dear, how sad – never mind.

I think people should start getting assurances as to how insurance on their items will be honoured if they go wrong.

Also I don't think that payments to bright house should be treated as priority debts.

 

I expect that the owners are bright house haven't done too badly out of it

[fkofilee]

They have been going a while - Im sure that the Directors were well paid... 

They arent treated as Priority Debts. However standard rules apply to late payments / CRA Markers etc

 

 

If you still have goods with them and cant pay - There isnt realistically much they can do.

[dx100uk]

opps millions of people might just forget to pay them as they quite rightly assume they've paid the true market value for the items they have already.

[brassnecked]

Hardly think the administrators are going to send bailiffs to repo all the TV's fridges sofa's etc that will have had their real value paid off already if payments are not forthcoming .  Cost more than writing them off.

[Ethel Street]

Won't the "stick" be that if you stop paying there will be default on your credit record?

[dx100uk]

you can pretty much assume that most customers already have a shot credit file as they were brighthouses customer targets from day one .

[brassnecked]

Most of it will end up with the likes of CCJ today if you don't pay Lowlifes, and other bottom feeders.

[jacko251]

I was going to go in the store this week to try and sort something out about lowering our payments as my husband  lost his job just over a week ago and we are waiting to hear about universal credit. At this moment in time, until something is sorted we actually only have £113 a week income for a family of 3.

What will happen if we just make token payments?
Is there somewhere we can write to and explain the situation, I don't want anyone turning up at the door.

[dx100uk]

4 minutes ago, jacko251 said:

What will happen if we just make token payments?

same as if you make no payments at all I expect...

[fkofilee]

They wont turn up at your door... Whos going to turn up when most of the staff have now been laid off

 

[dx100uk]

and so what if they do....

they never had any legal powers even when they were still trading...they are not bailiffs!!

 

you need to be reading a few brighthouse threads here jacko..use our search top right

[jacko251]

I don't know, I'm not clued up all on the legalities of things like this.

I was worried that the administrators had more powers or could demand the goods back.

Thank you I will have a read of the threads.