Hi All

New here but any advice would be gratefully received,

We went to DFS last Wednesday, found 2 sofas we liked, sat down with the salesman and completed a credit application etc signed the credit agreement and went home and were happily waiting for our sofas to be delivered, that was until today, when my partner received a call from DFS saying there was a problem with the finance, he offered us two alternatives, either have a family member or friend fill in a new application that we would pay, or to pay a deposit and the outstanding balance when the sofa are delivered, we have just checked and as far a we can see, we have a signed credit agreement with DFS, and having the sofas on finance was the only way we could afford them.

The salesman has already ordered the sofas and has indicated to my partner that we are still liable to pay for them even though he now say's the finance is not possible, does anyone have any idea where we stand ?

Many thanks in advance for any help.

Evo

Evo4UK:

My understanding is that if the purchase was subject to finance, which has now been rejected, the whole order/agreement is cancelled. DFS cannot enforce.

I would suggest that you call consumer direct and they will give you details of the legislation that applies. http://www.consumerdirect.gov.uk/

Huckster

huckster is correct, wherevever a finance deal collapses for any reason... or where any party withdraws before the agreement is accepted and concluded, then the whole sale falls through, without penalty or further obligation on any of the parties involved.

Remind DFS of the fact that since credit has been declined, you have no further legal obligation to proceed with the intended purchase that was subject to a (three party) finance agreement

Remember credit is not guaranteed or a right of any individual, it is always subject to approval and acceptance. !

Hi Huckster,

Thanks for that, am waiting for a call back from consumerdirect !!

Evo

Hi Conmankiller,

My partner has spoken to DFS again this PM and their salesman is still insiting that it is a binding contract, even though the finance did apparently not go through !

I thought they had done a credit check etc while we were waiting and everything was fine, as he completed everything then disappeared for 10 mins and then came back with the credit agreement/DD mandate and insurance forms for us to sign !!

Still waiting for consumer direct to get back to me !!

Evo