TV purchase from Perfect Home Store

A question about : TV purchase from Perfect Home Store

HI, I wondered if anyone could advise me as to my rights and if I actually have any.

The situation is thus...

In November 2010 I took out a payment plan with them to purchase a Panasonic TV model tx-p42s20b

The Payments being Ј15.05 a week

I have always paid on time and am not in arrears however recently I have been living on an extreme budget, so last week I caught up with 3 weeks payments I owed but then this week I was unable to pay the Ј15.05 I owe so the shop have been phoning and contacting me saying they will take action if I do not pay....

My dad has said that they cannot take the TV they have to go to court and then the judge would probably say the TV belongs to me anyway as I have paid in total Ј1565 to date and the actual retail value of the TV when it was on sale 2 years ago (nowhere stocks that model now) was around Ј750

If this is so and looking at this myself I am thinking I do not want to be paying Perfect Home Store all this money anymore considering I have to make these payments of Ј15.05 weekly for AROUND ANOTHER 18 MONTHS!!! I am not sure exactly when the contract ends but the actual overall cost of the TV is extortionate if I have to continue to pay for that length of time further.

DO i actually have any legal standing to say I am not paying anymore and would the fact I have already paid so much ensure the TV is my property? and not liable to be confiscated??

Please advise...

Thank You

Best answers:

• I would say you have no legal standing at all to be honest.
  You signed a contract at the outset to say that you would pay this. That is the legal side of it.
  You haven't got a leg to stand on I'm afraid.
  You may end up in court for non payment, you will end up with a county court judgement and then your credit will be trashed for years.
• Ј15.05 weekly for another 18 months is over Ј1100 - might be better to let them take the TV back and stop paying. Do you need this tv that much?
  Ј15.05 weekly vs sub Ј200 tv from tesco?
• As others said dont think you can get out of this. You paid a lot for a tv
  If you said you still owe 18months @ Ј15.05 a week thats 72 weeks @ Ј15.05 = Ј1083
  Plus 104 payments Nov 2010 to Nov 2012 = Ј1565 + Ј1083 = Ј2648 for a tv
  TV now can be had for Ј629 fair enough thats today prices probably costs more 2 years ago
  https://www.soundandvision.co.uk/tv/p...inch-plasma-tv
• Send it back, asda have a smallish tv for Ј69. Better than nothing and wont be costing you the earth in the long run
• Welcome to the forums ThursdayB
  The CAB representatives do not post at weekends. In the week, they aim to respond within two working days, so you should get an official CAB response in the next couple of days.
  Hope this helps
  Dx
• Hi ThursdayB, thank you for your query regarding Perfect Home TV
  You need to first check that this is a hire purchase agreement regulated by the Consumer Credit Act which it is likely to be and I will presume it is for the basis of the following advice. If you have paid 1/3 of the agreement Perfect Homes cannot repossess the goods without a Return of Goods order from the court and when it goes to court you will have an opportunity to make an offer of repayment and possibly a Time Order which can change the amount you pay each month and the interest charged on the agreement but I would suggest you seek specialist advice if you plan to do this. You may also be able to reduce the cost by cancelling any warranties or insurance on the item but you would need to check the contract carefully before doing that.
  Under the Consumer Credit Act you have the right to return the goods at any time before the last payment is due as long as you have not been issued with a termination notice for missed payments and as long as you have paid 50% of the agreement and the goods are in reasonable condition you do not have to pay anything more. This may be a good option if your financial difficulties are likely to be long term and the amount you still have to pay exceeds the cost of replacing the goods but you will have lost the payments you have made to date (although you could see this a a rental charge for the time you have had the TV). If you are going to do this I would suggest you put the request to voluntary termination in writing, send recorded delivery and keep a copy. You can find template letters on www.nationaldebtline.org.uk and you can find more information at www.adviceguide.org.uk. You can find your local Citizens Advice Bureau at www.citizensadvice.org.uk
  Hope this is of assistance