Areas of Law / Consumer Law

A year ago we bought a £600 colour TV set on credit, but the store has now closed down. So far we’’ve paid off £160 to their agents, will our payments be affected by the firm going into receivership?

Probably not. Most firms make arrangements with independent finance companies to provide their customers with credit facilities, so if this was the case you should continue your monthly payments in the normal way. In the unlikely event that the store ran its own scheme you will still owe the money to the receiver. Incidentally a finance company providing such credit is in law the seller, so where a shop goes into receivership action can be taken equally against the finance company if the product proves defective in any way.

What our clients say about our lawyers

Thanks for supporting me with advice on this matter. I will definitely recommend you to others who may require your expertise.

Satisfied Client


Read More

About Us

Leading legal advisors, problem solvers – all round good guys! We’re firm believers in a practical, no nonsense approach to law. Forget the jargon, we like to keep it simple – why complicate matters? No stress, no worry, just straightforward solutions to your legal issues. Free legal advice at your fingertips, from the experts to your inbox.

Free-Legal-Advice.co.uk is owned and operated by Farleys Solicitors LLP, a member of The Law Society and is regulated in the practice of law by the Solicitors Regulation Authority, Registration No: 484687. Any advice given on this site or in response to any question is only applicable to the law of England and Wales.

Privacy Policy | Terms