Legal option in case of supplier going bankrupt

[Neilds]

Not sure i understand this...
Assume that the invoice is 10k.... So i pay say £500 on CC and 9500 by bank transfer.. will the CC cover 10k or 500?

It will cover the full 10k. See link below for more information
https://www.moneyhelper.org.uk/en/everyday-money/credit/how-youre-protected-when-you-pay-by-card

 

[Mudball]

Company Status on Companies House clearly says
Company status: In Administration

I have a call with them in the afternoon.. lets see. Not planning to part with any monies at the moment.

 

[cunnini]

Mudball - DM me - can help a little about questions to be asking of the administration and what it means for you

 

[fundy]

Not sure i understand this...
Assume that the invoice is 10k.... So i pay say £500 on CC and 9500 by bank transfer.. will the CC cover 10k or 500?

10k

When we bought our kitchen we did £150 deposit on CC, rest of deposit by bank tfr when we got home then the rest of the balance in 2 installments by bank tfr. The deposit on the CC guarantees tyou for the whole cost

 

[moogie]

It will cover the full 10k. See link below for more information
https://www.moneyhelper.org.uk/en/everyday-money/credit/how-youre-protected-when-you-pay-by-card

That is possibly 1 of the handiest pieces of info I've ever found on the forum.
Will defenitely be bookmarking that

 

[Mudball]

10k

When we bought our kitchen we did £150 deposit on CC, rest of deposit by bank tfr when we got home then the rest of the balance in 2 installments by bank tfr. The deposit on the CC guarantees tyou for the whole cost

Was that £150 on the same invoice as the rest of the payment?

(pushing my luck here) If I pay £150 on our second deposit of 12k - which is linked to same 'client account' - does it cover the 10k paid already or the 12k on that invoice

 

[Mudball]

Mudball - DM me - can help a little about questions to be asking of the administration and what it means for you

so finally spoke to our old salesguy... As per as his story... they were all told to go home on a Friday in January and were told it is going into admin due to cashflow. They got in the adminstrators who have now sold the biz to new investors. The original owners (and Directors) are no longer part of the company. One of the new directors has kitchen experience and used to work there in some capacity. He found other investors who are into non-kitchen furniture. The investors have brought in money but are not active. They promoted their Sales Director to be the MD - and he runs it day-to-day. Apparently good cash position and looking to honour all client commitments. Wont provide a refund, but will provide a kitchen

 

[fundy]

Was that £150 on the same invoice as the rest of the payment?

(pushing my luck here) If I pay £150 on our second deposit of 12k - which is linked to same 'client account' - does it cover the 10k paid already or the 12k on that invoice

Yes was all on one invoice, I requested it that way. so they invoice me for the whole kitchen then split the payment out into 2 deposits and 2 staged payments.

I honestly dont know the answer to the second question. I expect if you had paid the £150 after the initial deposit but before the company went into liquidation then you would be fine, but diont know if the liquidation coming before you pay on the credit card changes the situation

 

[fundy]

so finally spoke to our old salesguy... As per as his story... they were all told to go home on a Friday in January and were told it is going into admin due to cashflow. They got in the adminstrators who have now sold the biz to new investors. The original owners (and Directors) are no longer part of the company. One of the new directors has kitchen experience and used to work there in some capacity. He found other investors who are into non-kitchen furniture. The investors have brought in money but are not active. They promoted their Sales Director to be the MD - and he runs it day-to-day. Apparently good cash position and looking to honour all client commitments. Wont provide a refund, but will provide a kitchen

Hopefully sounds like good news. Think you need to know far more details before paying anymore money though.

If it was me I would want to know is it exactly the same kitchen from the same suppliers as it was when you ordered and if not what changes are planned? Do they have a new timescale for when they expect your kitchen to be delivered and installed? When do they expect anymore payment from you? (I would personally would not be paying anymore until the kitchen was delivered into my possession). Are they still using the same fitters? Are the fitters employed or subcontracted?

I would probably try and get professional advice to as to your options and obligations to proceed

 

[rudebhoy]

so finally spoke to our old salesguy... As per as his story... they were all told to go home on a Friday in January and were told it is going into admin due to cashflow. They got in the adminstrators who have now sold the biz to new investors. The original owners (and Directors) are no longer part of the company. One of the new directors has kitchen experience and used to work there in some capacity. He found other investors who are into non-kitchen furniture. The investors have brought in money but are not active. They promoted their Sales Director to be the MD - and he runs it day-to-day. Apparently good cash position and looking to honour all client commitments. Wont provide a refund, but will provide a kitchen

I really hope for your sake that the new owners will honour the previous owners commitments, but have to ask why they would do that? Good for their reputation no doubt, but a very expensive and (I assume from a legal standpoint) unnecessary course of action, assuming there are other customers similarly affected.

I'd be very wary of what the sales guy has said, particularly if you've only had it verbally.

 

[3offTheTee]

Will wait for him/her/it


Unfortunately the amount was bigger than my credit card, so bank transfer. I m sitting on egg shells now

Too late now but if it happens again say you owe 10 k and only have 8k available on credit card. Pay 2k into credit card account and then pay the 10 if.

Good luck

 

[fundy]

Too late now but if it happens again say you owe 10 k and only have 8k available on credit card. Pay 2k into credit card account and then pay the 10 if.

Good luck

you dont need to, you only need to pay £100 against the total on the credit card and can pay the rest by bank tfr still

 

[cunnini]

Mudball - send me message to my inbox - complication is 'what did the new guys buy, the business, or the assets of the business' - technicalities about what they bought will change your rights....... i can give you some very specific questions which may help