Unsure on what going on!

BD10NNF · 4 Feb 2013 at 08:50

Hi people

I bought a TV from Comet about 8 months ago and I did that thing where you get the TV and pay back later. Now the deal was for me to pay it back 9 months after I got the TV.
I was told that I would get a reminder letter but so far I have received nothing :confused:

Of course Comet have gone bust and I'm wondering if my TV debt got wrote off as I know that you don't directly borrow the money from the supplier (e.g. HSBC, Santander ect).
Has anybody had a situation like this before and who should I contact to pay the money to?

Cheers

Allnamestaken · 4 Feb 2013 at 08:57

Your debt will be with the bank that the money buy now pay later was set up with. Ie my finance is with Hitachi, so if OCUK go out of business I still owe Hitachi Finance the money paid for my purchase.

You should know the bank from ur original agreement and contract signed, you can then call them for the specific account information. So all you need to find out is the bank you took the finance out with.

ince · 4 Feb 2013 at 09:05

Check your credit report

Jono8 · 4 Feb 2013 at 09:07

Would you like some carmex?

Redgie · 4 Feb 2013 at 09:36

Allnamestaken said:
Your debt will be with the bank that the money buy now pay later was set up with. Ie my finance is with Hitachi, so if OCUK go out of business I still owe Hitachi Finance the money paid for my purchase.

You should know the bank from ur original agreement and contract signed, you can then call them for the specific account information. So all you need to find out is the bank you took the finance out with.

/thread

momo56 · 4 Feb 2013 at 09:49

I remember a few cases on moneysavingexpert forums where the customers forgot to pay because they didn't receive a reminder and were chased up by debt collectors a year or so later asking for the full amount plus some silly interest rate. (not specific to comet but buy now pay later schemes in general)

So more than likely the debt isn't written off. The paranoid side of me thinks they purposely don't send the reminder letter hoping you forget within the alloted time and end up having to pay extra on the interest.

BD10NNF · 4 Feb 2013 at 10:34

Thanks all.

I will give the bank a call and pay up. Shouldn't be much more than the TV is worth I hope.