Creation Finanace-Massive arrears.Please help.

[sharonavon]

We bought a leather sofa from Land Of Leather which was £1697 and i had to repayed by 29th December 2005.

We never got any other letters from them reminding us to pay and when i checked again after christmas we realised we were a day late.On the 30th December we payed the £1697.By then they already had huge interest charges on for just being a day late.

We cancelled the dirct debit with them not knowing how much money they would take from our bank.

We sent a letter off to them and never heard anything more until around May time of this year saying that our account was in arrears.

After many letters,phone calls both at home and at work we wrote a letter to say stop harrasing us and any contact to be made through letters.

Today i have received a letter saying my account is £339.92 in arrears and the settlement for my account is £1827.79 which is valid until 2nd August 2007.That is double what we paid for the sofa!!!

Surely these charges cannot be right!!

 

Any help would be gratefully received.

[cougar25]

ah the saga continues.

 

This company have been doing this for some time.

 

i missed the deadline also and paid nearly 3 times what the sofa cost.

i didnt recieve any letters and the finance agreement is enough to win you over in court.

 

i might be wrong but i havent heard of a single person yet who has found a loophole in the law to prevent this happening.

 

My advice, continue paying and try to come to an agreement on the arrears,.. people have lost their house over this as they try to secure the debt on your mortgage!!

 

hope this helps

Hopefully somebody can shed some light on the law regarding these type of agreements, and hopefully somebody will make a law against it:-|