Creation Finance statement

Panorama: Can't Pay, Won't Pay featured an interview with Malina Begerman who bought a £1,700 sofa a year's interest free period. She lost her job at the end of this period and failed to keep up with the full re-payments. As a result, the company requested the entire amount owed and applied for a charging order on Ms Begerman's home. Her father paid a settlement of £4,700 including charges and interest. Below is Creation Finance's statement on this case:

"We do not comment on individual customer cases, however we stress that it is vitally important that customers work with and maintain communication with their lenders at all times. It is always our preference to come to a repayment arrangement where possible, and as responsible lenders we work hard to help customers manage their debt issues. However, in circumstances where we are unable to obtain a dialogue with customers, despite all our attempts to do so, we are left with no alternative but to protect our position and only as a last resort will we look to obtain a charging order."

"At any time during the Collections process the customer can discuss the matter with us and we will seek to make an arrangement to repay the debt."