Leave a legacy.

Pay your way

By: jody23011 | 09-03-2019 01:09

allow bad credited wannabe customers the chance to still buy a new or used phone from giffgaff by paying upfront for what they are wanting to purchase from you but can't due to bad or no credit history

But not only buy upfront but be allowed to make whatever payment they can afford that week or month as long as they understand what the cost is of the purchase and that the full price agreed is paid in full within the time given ie ( customer has 6 months to pay full purchase agreed or they for fit any money's already made if full balance is not met by time agreed upon the credit agreement made ) or 12 month agreements for newer or more expensive handsets

Obviously within the agreement there will be no interest added or charges if they miss payment .they just plain and simply pay in full within agreed time or lose purchase and all money already paid if not completed / paid in full within time set or agreed by customer

n/a

Comments

by: karenyates
on: 20-05-2019 08:42

Its a nice idea but can you imagine the terrible reviews giffgaff would get when someone who'd paid say 80% off a phone,then couldn't afford the rest.????

They would forfeit all that money, I can hear the scandal now.????

by: rocco58
on: 20-05-2019 10:48

Yes but your not going to let it go if you have paid all that money

by: espuelita
on: 20-05-2019 08:29

Wouldn't be beneficial in the longer term as far as improving credit score were concerned.

As others have said, there are better ways to go about this if you have a low credit score, and need to consider affordability.

by: persco
on: 20-05-2019 06:21

as others have said, not sure how this would help members. Giffgaff of course will take your money but that isn’t the way for those with poor or bad credit. There are many other ways of improving credit score like biting your tongue and getting a cheaper pay as you go phone and using the money that would have gone on to monthly brand new expensive phone to paying off the debt a member owes to help improve their score.

The long term effect of above is far reaching than getting one into more debt.

by: chand311
on: 20-05-2019 06:06

Could be great if implementation is possible.

by: sheilamm
on: 20-05-2019 04:13

not sure this would be a benefit for giffgaff

by: tokyobuta
on: 19-05-2019 19:36

Sounds very risky to the lender ... would have to have high interest rates, so maybe not a good idea.

by: pwincess2k13
on: 19-05-2019 13:49

Note for me sorry.

by: firoze
on: 19-05-2019 11:28

This is an issue for the third-party loan operator (i.e. Ratesetter in this instance).

I think what you're getting at is allowing people with bad credit ratings to buy handsets upfront. I have no problem with that, but if they want to use credit in any form, then that has to be subject to whatever means of approval that third-party outfit has (bad, unfair or whatever).

I don't think your last paragraph is well thought-out from a legal perspective. If you don't charge interest and yet still own the phone until the last payment, and forgo it entirely if you miss the last payment, that opens up a legal can of worms.

by: leshin
on: 19-05-2019 08:37

Good in theory

by: cocos39
on: 19-05-2019 01:35

agree