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What is a credit agreement?

How do I cancel a credit agreement with a fiance company?

  • I purchased furniture from a bed company and took out a financial agreement with their fiancial services. I received abysmal service overall, the furniture was sent to the invoice address not the delivery address, they took 3 days to correct this and pick it up/deliver it to correct address etc. We put up the beds both kingsize beds, and both have now broke within the space of minutes of being laid on. The poles on the beds have snapped- both beds are exactly the same and have the same fault. The credit agreement states I have to sue the bed company to get my money back and cannot cancel the agreement- can someone tell me how I stand and what I should do? I purchased the beds from the online store but the credit agreement is with one of their associated, if the creditors refuse to cancel the agreement what will happen as I am returning the goods and do not want replacements? I am going to call them tomorrow but would like to know what will happen and what my rights are on this as it is not my fault, the beds are obviously faulty. Many thanks in advance. Tom

  • Answer:

    Jan409 is nearly right. As the products were NOT fit for purpose you are entitled to every penny you spent on the products including arrangement fees or commission & interest. The agreement is legally linked to the products so as they are not fit for purpose you get everything cancelled & the seller, if they have been paid, will need to repay the finance company.

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You've got 2 different issues here 1. the beds 2. the finance agreement You need to contact them and ask for a refund on the beds, ask them to collect them as they are faulty they need to offer a full replacement or a refund as the beds are not of merchantable quality The credit agreement is a separate issue as it will be with a finance company,and as you have borrowed the cash you have no alternative but to pay it back with the refund you get from the bed company,but you still will have to pay interest because you borrowed the money to pay for them

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