UPDATE - in April 2022 the administrators said there was unlikely to be any money to pay any refunds to customers. See below. On 20 March 2020, BrightHouse went into administration. BrightHouse sold electrical appliances, furniture, computers and mobiles on hire purchase. Its customers made weekly payments, sometimes described as "rent-to-own". Coronavirus has meant that its 240 shops … [Read more...]
BrightHouse “close to collapse” because of increasing affordability complaints
UPDATE - BrightHouse went into administration on 20 March 2020. See BrightHouse enters administration – how does this affect customers? for details. On 29 February 2020, Sky News reported "Rent-to-own giant BrightHouse on brink of collapse". This said: there has been a "surge" of complaints which are currently costing BrightHouse more than £1million a month; management is worried … [Read more...]
A template letter to ask for a BrightHouse refund (old article)
This article was used to help people make affordability complaints to BrightHouse. Now (March 2020) BrightHouse is about to go into administration, this article is no longer relevant. You can still complain, but the process is much simpler and you can no longer go to the Financial Ombudsman. See BrightHouse administration – how does this affect customers? which says what you should do now, … [Read more...]
FCA will cap BrightHouse prices and interest from April 2019
The Financial Conduct Authority (FCA) is capping the cost of buying from BrightHouse, PerfectHome and other pay weekly shops from April 2019. This is very good news. It is not just a cap on the interest, where the FCA has imposed the same 100% cap that currently applies to payday lending. The FCA is also proposing controls over the prices of the goods the shops are allowed to charge. … [Read more...]