I know it’s stealing….but…..

[VidalSass]

Im going to be Annihilated here……

i took out a store card to pay for a large tech purchase, interest free, over 36months. This was four months ago

I set up a direct debit straight away for the monthly payment and then cut up the card.

I checked my account and noted direct debit not come out, so I logged on to the store card account and the charge is still ‘pending’ - therefore minimum payment is 0 as the charge has not been processed by the merchant.

would I be unreasonable to just ignore it and therefore avoid the repayments? Surely it would eventually just be cancelled? Although it’s already sat there for four months….

i don’t want to call the merchant as obviously they will then just process the charge…..

im worries that eventually it would just be charged but a part of me is excited at the thought that an error may have occurred resulting in me getting free stuff. I know it’s technically stealing but it’s a huge company (probably not paying corporation tax in the uk) and I’m not exactly rolling in it

AIBU - should call the merchant to process the charge and start paying it back

NBU - technically it’s stealing but fuck the man and ride the freebie wave

It's not fraud . It's not theft. Legally.

See what happens . Be prepared to pay if they ask . If they don't ......it's their issue

I expect they will catch up with you eventually and I would set the money aside in case they do. But if you don't hear anything there's no way I would contact them. whatever people on here say, I don't believe the vast majority would do anything other than be delighted that they had possibly got a free item and be a bit jealous that this has happened to you and not them.

"Maybe don't use the card again"

This is from the original post, which you have presumably JUST READ...

"I set up a direct debit straight away for the monthly payment and then cut up the card."

Sorry, this was @liveforsummer

They are just going to charge you the full amount in 36 months.

@Isittimeformynapyet bit the card numbers etc will still be available via the account- it's rare you need a physical card these days!

I agree with what the majority are saying. Don’t do anything. It’s their mistake to fix. If they eventually contact you then start paying.

I don’t think I would even put the money aside tbh. If it’s a 36 month credit agreement and they’ve failed to process it properly, then the 36 months should start from when they eventually realise. If they do contact you then I’d just start making the monthly payments from scratch and wouldn’t backdate them, it was their mistake. Just feign innocence and say you didn’t realise the payements weren’t going out.

People on here can act all holier than thou but the truth is that the majority of people wouldn’t dare contact in a situation like this. Unless they’ve got plenty of money and if that was the case, they wouldn’t be taking out a credit agreement in the first place.

Bringing up morals is ridiculous, she’s not stealing from her own mother or her elderly neighbour!

Don't worry Op, they will charge you the full amount in 36 months. To those who think there is nothing legally wrong about this, what would you do with say a million wrongly deposited into your account? Sure it is the bank's mistake but there is a firm legal precedent that you have zero rights to the money and are liable to return it. Some very ill-considered advice is being given to OP who seems to have little sense themself.

This. If the transaction is pending I have a feeling eventually you’ll have to pay up though.

I don’t think I would even put the money aside tbh. If it’s a 36 month credit agreement and they’ve failed to process it properly, then the 36 months should start from when they eventually realise. If they do contact you then I’d just start making the monthly payments from scratch and wouldn’t backdate them, it was their mistake. Just feign innocence and say you didn’t realise the payements weren’t going out.

Like I said, this is shite advice.

How is that relevant,?

As I understand it that covers for example an insurance company not telling you they don't cover something specific or you not saying you have a serious condition to a travel insurance.

I think actually, if you present the item for purchase and the company fails to put through the sale it isnt classed as theft.

That said I'm not sure I'd be comfortable with a large purchase that could go through my credit card at any potentially inconvenient moment.

No way would I chase this up....you've given your DD details. I'd be more than happy to pay if they realised the error but I'd play stupid until then.

I dont think that this is fraud or indeed stealing.

The OP can prove that the DD was set up and on what date, she can prove that is it still active on her account. The whole point of a DD over a standing order is that it is claimed by the company taking the money, not pushed by the debtor (as in a standing order). They have the information and the means to take the payments, that they havent is NOT on the OP.

As long as the OP saves the money just in case and argues any late fees on the basis that the payments are late due to their fuck up not her refusal to pay, I think she is morally in the clear and I would certainly argue it legally too.

I’m genuinely curious, how long would people recommend saving the money for in a situation like this? Theoretically, they could contact for the money at any point during the 3 years or even afterwards if the mistake is realised.

If the OP saves every payment for 3 years, is she supposed to hold on to it, potentially forever, on the off chance they might realise? Presuming she won’t have the money to pay the cost of the item upfront without saving, otherwise she wouldn’t have taken the credit agreement.
If this is the case then she may as well contact and start making payments…

If she saves until she has the full amount the item costs then she has it there if/when they contact her. It is interest free.

After 6 years (prepared to be corrected) as long as the debt isnt acknowledged, then it cannot be legally pursued. But in that 6 years, the interest accruing is in her account, not theirs.

Cam you explain what all these "things companies sent you by mistake" were. Did you order something and receive something else? Or did companies just send you random stuff? Do you think someone else is entering your address by mistake?
What happened when you told them? Did they find out how or why you were sent things.
I'd be really concerned about random people entering my address details.

If the bank accidentally deposited a million dollars into my account and I had the choice to keep it or send it back?

like 99% of people I would keep it.
imight have the odd pang of guilt after umming and aaahing about it for a little while, but ultimately it would change my kids lives so therefore I wouldn’t feel bad about it.

would I take a million quid knowingly, in exchange for making a family homeless, no probably not. Morals aren’t black and white and anyone who thinks so has far less sense than you presume I have.

Keep putting the money aside in a easy access, high interest savings account. Once they realise they will contact you and you can pay what's owed and keep what's been made in interest.

But I can’t accrue interest on a debt that doesn’t exist surely? The debt is created when they process the charge, right? At the moment my account balance is £0

Actually I wouldnt keep £1m if it was deposited by accident because a court would find that you couldnt reasonably be expected to not notice, or think it was a payment within normal bounds (say a tax rebate), and people have ended up in serious trouble for doing just that!

But in your case, you intend/ed to pay, you are able to pay, you have set up a DD in order to pay. The fact that the DD hasnt been paid isnt because of a lack of funds on your side but a lack of claim on theirs. So although yes, it almost certainly will come to light the next time they have an audit, at least in the meantime the money will be accruing interest on your behalf and you will have it there to pay off the debt.

They mean you will be receiving interest on that money in your bank account, not interest on your debt.

Also if you do have an unexpected million $ payment the answer is always not to touch it. They always realise quick and take it back and if you've spent any they prosecute.

You misunderstand me

The card, so the debt, is interest free so you are not accruing interest on the debt. But the money you put aside for when they come for the money (which they almost certainly will) CAN accrue interest in your account. So if the item was (say) £1000 and you save in a 5% rate account, you will be £50 up at the end of it all.

Ah now there we would differ, I would never keep a million accidentally put into my bank account, for a start you know they'll want it straight back and what are you going to do, keep putting the money spent by for when they do realize? How would you live knowing they could ask for it back any day? I think you're very wrong that 99% of people wouldn't fess up to the million from the bank scenario. As to your dilemma, I wouldn't say anything tbh as their problem as they've failed to collect but I would fully agree that expect them to catch up with me one day

I was once refunded twice for a tv I returned to John Lewis. They sent me an extra £1500. I thought about it for over a week and decided to do the decent thing and tell them. They said thank you and sent me a voucher for a free coffee in their cafe. I’ve been gutted ever since.