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A Question for Retailers


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I doubt if not claiming PPI has any bearing other than you were not persuaded to take it out anyway, I doubt if it has any credit rating value

 

Not long ago mortgages had to be repaid by a borrowers retirement age, then there was a period that interest only loans sometimes without any repayment vehicle  were being pushed in preference to repayment method. Noe there is a realisation some pensioners have stable incomes in retirement and can afford mortgages, or the reverse and borrow against the asset value of their property. Whichever is the case it always seems to benefit the lender rather than the borrower

 

The same Nigerian lady seems to think I have a long lost family member who has left me thousands !!!

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I actually think that not having claimed for PPI, as we didn’t take it out in the first place has not done us any favours. Does that mean we are a risk

 

I doubt that very much

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A bit of an Eureka Moment. Any member with a knowledge of banking, finance etc on here?

 

Could it be our actual location and not ourselves?

 

On 1st April 2015, we received a Notice to Quit with immedaite effect and at the latest before close of business at 5pm. Luckily it was only 1010am.  The landlord of our building (allegedly) had not been paying the mortgage and the building had been repossessed.

 

We moved into the new build opposite in June 2015, this cost us around £25,000, just to move and refit the new shop. On our second day in the new shop we had a visit from the Men In Black. They were in possession of a County Court Order for immediate payment of just over £14,000 for an outstanding electricity bill. My wife, Gill was adamant that she hadn't left the fridge door open on leaving the previous evening. The Men in Black retired graciously when we showed them our tenancy agreement and upon examining the electricity meter saw it was a different serial number and only had about 80 units use on it. It turned out that the National Grid had recorded the wrong meters in the new build and their exact location. We still get two bills for Water, one for the one that we have attached to the property and one for the meter that went with the old building that was demolished to make way for the new builds. Thankfully that is a £0 invoice for that meter, but we still get an invoice. Computers huh.

 

I think the above indicates we have been in two buildings with an abysmal credit rating. Would that show on Credit searches and therefore effect our Credit Rating?

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13 minutes ago, hayfield said:

I doubt if not claiming PPI has any bearing other than you were not persuaded to take it out anyway, I doubt if it has any credit rating value

 

Not long ago mortgages had to be repaid by a borrowers retirement age, then there was a period that interest only loans sometimes without any repayment vehicle  were being pushed in preference to repayment method. Noe there is a realisation some pensioners have stable incomes in retirement and can afford mortgages, or the reverse and borrow against the asset value of their property. Whichever is the case it always seems to benefit the lender rather than the borrower

 

 

 

 

The PPI thing was a bit of a joke. I had this image in my head of Arnie... as a robot...  :lol:

 

Looks like we are still on the mortgage with the early retirement age terms attached. I have to repay any borrowings on my mortgage before I reach 64. The company my mortgage was taken out with no longer offer mortgages. They now only offer insurance. But they are still willing to lend money......

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1 hour ago, Widnes Model Centre said:

 

Could it be our actual location and not ourselves?

 

Dunno mate.  You don't know what's going on. Maybe Hatton's see you as a threat? :lol:

Edited by spikey
Smiley added lest somebody take offence
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In one way others debts should have no affect on yours, as simple things like names and dates of occupation should show adverse information is for others not for you

 

Having said this it would not surprise me and I guess it may well be worth checking the information, also remember sometimes information on record can be incorrect. A bad debt could have been registered against you or the property which has nothing to do with you, but could be mistakenly be thought as yours. Good thinking

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34 minutes ago, Widnes Model Centre said:

 

She said he was her cousin on her nephews side. Can you vouch for her Colin?

I can, if you are unsure of her, I will PM my bank details to you and on receipt your thousands of pounds, I will forward the funds to her...............surely you can trust a fellow RMWebber-_-

 

Mike

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34 minutes ago, ikks said:

I can, if you are unsure of her, I will PM my bank details to you and on receipt your thousands of pounds, I will forward the funds to her...............surely you can trust a fellow RMWebber-_-

 

 

 

 

Good thinking Mike. I have forwarded by PM my bank account details, pin number and mothers maiden name as well as my inside leg measurement as the lady said she needed that. I see you are in Australia. Just in case and you will have read about this in my posts, there is a foreign currency transaction fee. Feel free to deduct this from any money you get as a thank you for your time and effort.

 

Of course I trust all RM Webbers. My wife has bought me an APT for Christmas. (Might get in trouble for that one)

 

Edited: Just to add that this post must have gone viral! I have had an email from someone who appears to be offering to give Legal Advice; 

 

Hello, i am Barrister Bright Witte, I want to discuss an important issue with you,write back to me here,for more details.

 

Is this a friend of yours @Colin_McLeod

Edited by Widnes Model Centre
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3 hours ago, Widnes Model Centre said:

A bit off topic, but may show you some of the difficulties that lie ahead possibly at the end of January 2020. Part of the £4,000 we owe is to a company based in Scandinavia. It is actually £600 ish. Our bank is making it very difficult for us to pay this amount. It is a newly formed company that is part of one of the biggest toy manufacturers/exporters/retailers certainly in Europe. As they have no Credit History as the newly formed company, the Bank believes it may be trying to obtain money from us. They are, we already have the goods !! The company is opening a Bank Account in the UK to get around this problem. But that isn't as easy for them as it used to.


As a Canadian company specializing in British model trains, I have to purchase much of my stock from the UK and Europe. I pay all my invoices by credit card in advance of shipping and pay my credit card bills promptly which gives me almost 30 days credit, and I get cash back on the card I use the most, with no interference or service charges from the bank so possibly a solution for yourself?

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Just now, Retro_man said:


As a Canadian company specializing in British model trains, I have to purchase much of my stock from the UK and Europe. I pay all my invoices by credit card in advance of shipping and pay my credit card bills promptly which gives me almost 30 days credit, and I get cash back on the card I use the most, with no interference or service charges from the bank so possibly a solution for yourself?

 

Thanks, but  tried that, even offered to pay by Paypal. They can only accept BACS Payments. I was told they don't actually have any other system that payments can be made through. Clearly it has worked for them to be such a huge company. Hopefully soon resolved when they open a UK Account. The end of January is making a lot of businesses a bit twitchy shall we say.

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46 minutes ago, Widnes Model Centre said:

 

Could it be our actual location and not ourselves

It's a long time ago now but we had some problems with our first home. There was an issue about an unpaid bill incurred by the previous owner.

Fortunately Mrs SE worked for a well respected legal firm at the time so a quick letter from them resolved our end.

Had it not been for her connections it would have bern seriously worrying/inconvenient.

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When I started my business MonBank Model Railway Centre, back in August initially we had huge issues with gaining any suppliers let alone credit from them. Every supplier we approached didn’t want to know as we are a exclusively online enterprise, thus don’t have a bricks and mortar shop obviously they’ve not heard of the little know outfit called Amazon !

 

Thankfully we did find a supplier who has been fantastic in their support, and assistance. Naturally payment was prior to goods being despatched until we proven our worth with them, payment is now on a 28 day invoice agreement.

 

I was taken aback to see the £250,000 stock level you say you have, this is why we operate a just in time policy of not carrying stock - we order items as required for our supplier.

 

After close to six months of trading I’m delighted to say we’re making a profit, covering our costs and looking forward to the future. I notice there is another general model shop in Scotland who are also online only as well, is this a tread we’ll see increase in the future ? I would assume the likes of Hattons and Rails now sell the majority of their stock through their online arm so are becoming in all but name an online retailer with a showroom attached to their warehouse, certainly that’s what Hattons appears to be now.

 

The major barrier to our growth is the likes of Bachmann, Heljan don’t directly supply us as we don’t have the shop - not a problem for us as we specialise in O Gauge anyway, but it’s still a major barrier to entry and growth.

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1 hour ago, Welsh Signaller said:

When I started my business MonBank Model Railway Centre, back in August initially we had huge issues with gaining any suppliers let alone credit from them. Every supplier we approached didn’t want to know as we are a exclusively online enterprise ...

 

I take your point, but TBH if I ran a bricks-and-mortar model shop, I'd be delighted that most major suppliers don't want to know web-only traders.

 

It's nothing new, btw.  I met exactly the same problem 43 years ago, albeit in a different line of (retail) business.

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5 hours ago, Widnes Model Centre said:

 

Thanks, but  tried that, even offered to pay by Paypal. They can only accept BACS Payments. I was told they don't actually have any other system that payments can be made through. Clearly it has worked for them to be such a huge company. Hopefully soon resolved when they open a UK Account. The end of January is making a lot of businesses a bit twitchy shall we say.

 

 

They have just made a 2% profit on the rise in Sterling on Friday !!!"

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3 hours ago, Welsh Signaller said:

When I started my business MonBank Model Railway Centre, back in August initially we had huge issues with gaining any suppliers let alone credit from them. Every supplier we approached didn’t want to know as we are a exclusively online enterprise, thus don’t have a bricks and mortar shop obviously they’ve not heard of the little know outfit called Amazon !

 

Thankfully we did find a supplier who has been fantastic in their support, and assistance. Naturally payment was prior to goods being despatched until we proven our worth with them, payment is now on a 28 day invoice agreement.

 

I was taken aback to see the £250,000 stock level you say you have, this is why we operate a just in time policy of not carrying stock - we order items as required for our supplier.

 

The major barrier to our growth is the likes of Bachmann, Heljan don’t directly supply us as we don’t have the shop - not a problem for us as we specialise in O Gauge anyway, but it’s still a major barrier to entry and growth.

 

I wish you luck. Our stock levels have been as a result of increasing them over the eight years we have been open. 

 

Am l right in thinking that you carry no stock and only order in what you have orders for? Surely you have to then pay carriage or do you wait until you have sufficient orders for a carriage paid order? As an O Gauge specialist do you not supply track? Peco account would be a must.

 

Glad it is going well for you.

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12 hours ago, Widnes Model Centre said:

 

I wish you luck. Our stock levels have been as a result of increasing them over the eight years we have been open. 

 

Am l right in thinking that you carry no stock and only order in what you have orders for? Surely you have to then pay carriage or do you wait until you have sufficient orders for a carriage paid order? As an O Gauge specialist do you not supply track? Peco account would be a must.

 

Glad it is going well for you.


Your right yes, I only order when I get an order. Luckily it seems to happen I get a flurry of orders at a time for some reason so carriage isn’t an issue - it’s quite low so one loco for example would push the total over minimum order total, wagons though are way below but people tend to order multiples.

 

Looking into next year a small shop room type set is being investigated to see if it can be paid to enable a tidy up of our supply chain thus enable a peco account.

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On 15/12/2019 at 23:05, hayfield said:

I doubt if not claiming PPI has any bearing other than you were not persuaded to take it out anyway, I doubt if it has any credit rating value

 

Not long ago mortgages had to be repaid by a borrowers retirement age, then there was a period that interest only loans sometimes without any repayment vehicle  were being pushed in preference to repayment method. Noe there is a realisation some pensioners have stable incomes in retirement and can afford mortgages, or the reverse and borrow against the asset value of their property. Whichever is the case it always seems to benefit the lender rather than the borrower

 

The same Nigerian lady seems to think I have a long lost family member who has left me thousands !!!

The Nigerian lady has only offered you thousands? I get offers of millions in US dollars and I only need to pay a few hundred to get 'clearance', from their export agents - which I read as pay the bribes!

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14 minutes ago, kevinlms said:

The Nigerian lady has only offered you thousands? I get offers of millions in US dollars and I only need to pay a few hundred to get 'clearance', from their export agents - which I read as pay the bribes!

 

And as we all know, that few hundred is the scam. ;)

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10 minutes ago, Colin_McLeod said:

 

And as we all know, that few hundred is the scam. ;)

And one that amazingly people fall for and again when the scammers claim that another expense needs to be paid!

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Had a great response to my question and plenty of information has been passed to me. All of whom had read my post on here.

 

Had no real response from the Company concerned. My orders are still "In Picking". Plenty of Credit still left. :(

 

Thanks to every one who contacted me by various means especially the member on here who was able to find out that it isn't our address that is the problem. Not sure if that is a good thing......

 

The Men in Black were back again today and removed goods from a nearby shop. I must be trustworthy they left the keys with me for safekeeping !!

 

Edited Update:

 

As of 7am, today, our credit limit has been increased to a sensible level. The company concerned are making best efforts to have our orders fullfilled and despatched. We have fingers and toes crossed.

Edited by Widnes Model Centre
Updated information.
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13 hours ago, Widnes Model Centre said:

 

Had a great response to my question and plenty of information has been passed to me. All of whom had read my post on here.

 

Had no real response from the Company concerned. My orders are still "In Picking". Plenty of Credit still left. :(

 

Thanks to every one who contacted me by various means especially the member on here who was able to find out that it isn't our address that is the problem. Not sure if that is a good thing......

 

The Men in Black were back again today and removed goods from a nearby shop. I must be trustworthy they left the keys with me for safekeeping !!

 

Edited Update:

 

As of 7am, today, our credit limit has been increased to a sensible level. The company concerned are making best efforts to have our orders fullfilled and despatched. We have fingers and toes crossed.

 

 

I guess the sales team had a chat with the bean counters

 

I hope you have a great Christmas trading period and a successful new year. Pity I live too far away plus lucky enough to have a super retailer close by. 

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