Daylight Robbery

***Mr D*** · 05-03-2007, 15:11

Went into brighthouse the other day for a nosy as you do and all I can say is what a bad place IMO.

To give an example of why I feel it is so bad.

A second hand (Or reconditioned as they like to put it) Lap Top.

Cash sale in full £630 (Ish)

On Credit - £790.00 Ish (Apr 29.9% APR). 100 weeks @ £7.90 ish.

Now you have to take there compulsary cover? Have to? Compulsary? that supprised me, but never mind, now that is an additional weekly cost of (IIRC) £4.80 for one of them and £1.20 for the other (Insurance and service cover).

So it now becomes £13.90 Per week over 100 Weeks = £1390.00.

Now the Lap top in question when Googled is worth £315.00 BRAND NEW.

DAYLIGHT ROBBERY.

The Credit Scheme required NO Credit Check and this makes credit available to people who MAY not be able to afford it.

This is probably why the Credit is so high, I mean if 1 Pays up good, they can afford 2-3 defaults.

This IMO is No better (INFACT WORSE) than Provident & Co.

All I can say if someone buys something from there they are either MAD or want the item VERY MUCH.

panther · 05-03-2007, 15:16

its always been the same, the poor pay more, and end up in more debt, because they couldnt afford to buy with cash in the first place!

I looked in there the other day, and walked away, the APR is way too high

flashy · 05-03-2007, 15:16

ive never ever had anything on credit and never ever would, i went in there just before xmas with my mate (she had to pay for something) and i saw my phone in there, it cost me £55 brand new from argos and they had it in there for £125 (thats what you would eventually pay) i was gobsmacked, see they scam people for money because they know some people cant afford to pay outright for some things, its just the same as that provident place, your paying nearly double by the time you've finished......... my motto is, if you cant afford it, save up ................robbing gets

Kitkat · 05-03-2007, 15:34

It seem old fashioned but "if you can't afford it - don't buy it" springs to mind!
People just want everything NOW and don't seem to mind what it costs they don't want to save up for anything anymore, its so easy to get into debt, firms like these are too tempting, some people just don't read the "small print" and thats what these firms are counting on.

magpie · 05-03-2007, 16:51

They have been on tv loads of times... it is total rip off: is there not some credit union thing at the new era where you can save with them and then take out a loan: low interest not the lowest but better than shops and companies you have mentioned:

grego · 05-03-2007, 16:55

Thats such a rip off, it should be illegal to make so much money in that way.

accymel · 05-03-2007, 16:59

I thought they did new stuff not second hand gee talk about prey on the poor folk

its definately a rip off i thought door sharks were bad

shillelagh · 05-03-2007, 17:10

Quote:

Originally Posted by magpie

They have been on tv loads of times... it is total rip off: is there not some credit union thing at the new era where you can save with them and then take out a loan: low interest not the lowest but better than shops and companies you have mentioned:

The credit union is called HHH Credit Union (meaning Haslingden, Helmshore and Hyndburn). To be a member of the credit union you have to live or work in Haslingden, Helmshore or Hyndburn. They have savings accounts, holiday/xmas accounts, junior accounts and loans. Loans are 1% APR a month on the falling amount. We dont have a website its out of date and being done up at the minute. Telephone number for any more details 01706 215082 and ask for either Bill or Dawn to give you more details.

LancYorkYankee · 05-03-2007, 17:33

Quote:

Originally Posted by panther

its always been the same, the poor pay more, and end up in more debt, because they couldnt afford to buy with cash in the first place!

I looked in there the other day, and walked away, the APR is way too high

This brings up an interesting question. Are the poor poor due to getting into debt?

In the US, I believe that many folks are "poor" due to lack of financial education, lack of common sense, poor (meaning not good) role models, and the pure inability to adhere to delayed gratification.

Brian

chav1 · 06-03-2007, 00:18

legal loan sharks , govenment is supposed to be stopping these scumbags taking advantage of the poorer folk but they sure are dragging their heels about it

Ianto.W. · 06-03-2007, 01:09

They run a high risk business and their telephone bill's and 'snatch' back costs must be high, they do require proof of identity, the only dealings I have had with them is using the shop to service utillity cards. They used to phone us up on a regular basis as a certain person used our phone number as a way to get a mobile phone off them, it was back and forward lke a yo-yo untill the yo-yo buyer got more mobile than they did, I must stress this was without my knowledge at the time, the only good thing about this business I can say in their favour is that the staff at the Accrington branch are very nice and friendly, and they are providing jobs at a price. Even lower down the scale in my opinion are Cash Generators, have a look at their prices for second hand goods, and compare it with what they offer you for goods you want to generate cash on. It is a sad reflection on todays society when these are the only ways for some people to have a few 'essential' luxuries, or raise a few bob.

cherokee · 06-03-2007, 01:22

Ive seen the bright house ads and had their leaflets/mags through the letterbox its scandulous what they ,re ripping folk off with... unfortunately i also know people who have dealings with them and they really hound you if you miss at least one payment..... sorry my motto is if ya want it then save for it , it will still be there at a less if not cheaper cost when you,ve got the brass...

I was in a position once where i had to get something on credit and i struggled like hell so for me never again ...if i cant afford it and i really want it then i,ll save... its much cheaper.. these scumbags just make the poor much poorer by putting temptation in their face and yes it should be stopped....

Ianto.W. · 06-03-2007, 01:23

Quote:

Originally Posted by panther

its always been the same, the poor pay more, and end up in more debt, because they couldnt afford to buy with cash in the first place!

I looked in there the other day, and walked away, the APR is way too high

Have a look at catalogue company total costs, and compare them, they use friends and family to gather their customers, who may feel obliged to purchase something to save face.

moonshiner · 06-03-2007, 11:41

My sister bought a flat screen tv and stand from bright house, about £1200 or so she thought it turns out the total is more like £2500, she missed one payment at christmas and they started to get heavy handed
now they are never off the phone telling her she can order what she wants (two faced toe rags)

panther · 06-03-2007, 11:46

£2500 for a telly?, bloodyhell