Chair calls on administrators to ensure vulnerable customers are protected
2 Apr 2020 11:15 AM
Rachel Reeves, Chair of the Business, Energy and Industrial Strategy Committee has written to Grant Thornton, administrators of Caversham Finance Ltd in relation to the collapse of ‘rent-to-own’ business BrightHouse, to ensure that vulnerable BrightHouse customers are protected.
The correspondence calls on the administrators to rule out using bailiffs during the present coronavirus crisis and seeks guarantees that the protections provided for vulnerable customers, such as dealing fairly with customers in arrears or default, are abided by during the administration process.
Chair's comments
Rachel Reeves, Chair of the Business, Energy and Industrial Strategy Committee yesterday said:
“I know that many people, especially those on low incomes, used BrightHouse to purchase goods and appliances for their homes. I urge the administrators to do all they can to ensure vulnerable BrightHouse customers are protected, especially when many of these people may be struggling to make payments as they suffer a hit on their incomes during the coronavirus crisis.
“BrightHouse customers, as with many customers of other rent-to-own companies, already face high interest rates which hit their pocket hard. I hope that Grant Thornton as administrators will rule out any prospect of using bailiffs to seize goods during these difficult times, do all they can to ensure the protections in place for vulnerable customers are upheld, and make customers made aware of the vital support services available, such as through Citizens Advice.”
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