Can anyone advise?, a year ago we bought a fitted bedroom from Hammonds. The sales person convinced us to take there loan agreement by telling us if we paid up within a year (no sooner) then we would have no interest to pay, or minimal interest on the balance after that year ie if we only owed £60 etc.. We overpaid each month in order to clear it off and have today received our first ever statement, which confirms interest was charged each month on the outstanding balance.
We called Barclays who we have the agreement with and they have told us we describe a buy now pay later agreement, but that wasn't what we signed up for. We have the paperwork but as usual it's a pink copy with loads of writing which no-one without a full legal knowledge could decipher. We are going to speak to Hammonds tomorrow but i'm not holding out much hope, just wondered if I have any legal standing on this being mis-sold?
We even had the money to pay the whole lot, but decided to use this and the cash for something else. There is no way we would have agreed to this, I would have got a 0% credit card, as we don't have any other cards, which is why we over paid each month. I just feel gutted, we should have finished paying this month and now are looking at another 3-4 months and an extra £650!!!