Category Archives: Rent-to-own

Rent-to-own stores “rip people off” say MPs. We highlight the alternatives

posted by in Budgeting, Debt, Rent-to-own Leave a comment

Rent-to-own

Rent to own now, keep paying much, much later?

Have you ever bought a TV from BrightHouse or a sofa from PerfectHome? Then you might be interested by news that MPs have called for a crackdown on these kinds of stores. This comes after feedback you provided to us last year.

A cross-party group of MPs says the regulator, the Financial Conduct Authority (FCA), needs to take urgent action to stop people from being “ripped off”.

Firms like BrightHouse charge APRs of 94.7% and make customers fork out for expensive cover that can treble the price of household goods.

For example, a washing machine sold for £295 at Co-Op Electricals will cost a whopping £1,092 at BrightHouse once insurance and interest payments are added in.

Continue reading »

Tags

February’s debt news

posted by in Debt, Rent-to-own, Welfare Benefits Leave a comment

Debt news

Debt news

January, aka the ‘Monday’ of the year, is over and February is well and truly here! While it may seem like a slow start to the year for many, lots has been happening in the world of debt and personal finance.

Bankruptcy thresholds are set to increase and it might be time to break up with that old phone contract you’ve been overpaying for.

There’s good news as well: people are looking out for each other with support for unemployed job seekers, and it could be the end of rail ticket rip offs (sort of).

Continue reading »

Tags

Have you bought anything from a rent-to-own store?

posted by in Rent-to-own Leave a comment

Rent-to-own

Take part in our rent-to-own survey

We all know that sinking feeling that comes when the fridge-freezer stops working, the washing machine suddenly springs a leak or the mattress starts to sag so much that you can feel the bedsprings.

It can be hard to find the money to replace large household items, particularly if it’s an expense you weren’t planning for.

Continue reading »

Tags