Creation Finance

Just googled creation finance after writing this and found some worrying comments here:

http://forums.moneysavingexpert.com/showthread.php?t=405598

Might I recommend an area that may become newsworthy before too long.
I have availed myself of the DFS 0% credit loan.

This is actually operated by a company called Creation Finance.
I later took out car insurance with One call insurance, only to find out, again, that the “easy payments” were via Creation Finance.¬†

Undoubtedly a legitimate company, acting within the law, but in both cases, I found myself committed before I realised the extent of the commitment and the associated penalty clauses.

I do not have a problem at present as my monthly  payments are by direct debit and I do not expect to fall foul of their penalty clauses.

But it is these penalty clauses, which I believe are intended to be their main source of income.

I suspect it won’t be long before stories of hardship will begin to crop up, as unforseen circumstances will trip the trap for some.
I merely suggest that you might keep a watching brief, especially as banks etc. are being less forthcoming with loans and the money markets are looking shaky.

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