There are certain rights we have, and we all are unaware of them. We neither address it nor even try to look out for it but be it whatever, you need to ask for that. It can happen only when you first know consumer rights.
Even before Thomas Cook’s descent, this was on the wall, and it couldn’t make it any less startling.
Those who were on holiday or had a booking in the future felt a sense of having drifted away. People were frantic to know about their rights and also if their money or holiday was even safe?
For Thomas Cook’s customers, information was shared in the media, saying most of us must know what can be demanded and what their rights are?
Let’s know the rights and see what’s next.
Not knowing about our rights is like one can’t stand up for the same when people are disappointed about things not going well.
What are the rights even?
Let’s say the business you are dealing with goes under, but as a customer, what is that you must expect? Before we step into that, let’s know the rights in the first place.
A company can’t ignore the rights a consumer has, which comes from the law. In the UK, the companies have to meet the consumer contract regulation and customer rights act 2015.
Depending on the time you have kept the item, if the goods you ordered don’t satisfy the quality you expected and are not a fit for its made and is not as per what was described, one can claim a replacement or even a refund.
When the matter is about service, then it applies to them as well. And especially if it’s financial-related, then some extra protection and rights are counted.
As mentioned, there is protection for the financial services; what are they?
The information for this is on the website of financial conduct authorities.
The scheme of financial services compensation provides the best protection when the company’s go under.
So basically, if any banking sector fails, the firm has to compensate each account with up to £85,000. And if the same is by the firm of the investment bank, the consumers can claim the compensation saying they were negligent about their deals with you.
So no know that being regulated doesn’t assure in any way that the money is protected.
Now the question is, whom do you ask it to?
Let’s say the retailer got you the defective product; he may put it on the manufacturer and ask you to receive a refund. But it doesn’t hold good as the product brought from the retailer and not the manufacturer in the first place. So, in any case, even if you lose the receipt of purchase, then the same is proved by showing the bank statement.
What about the retailer in the sand position?
In that case, the ability of the consumer to enforce the right is affected.
If it’s a trade or, to that matter, a company, then the consumer can still take their money. The payment is done for the product but hasn’t reached you yet? Are they burglarising your gift vouchers? In return for the refund, they might have got you a defective product?
Then immediately receive the form from the receiver and complete it and furnish a receipt as a token of evidence.
Now you have to join the roster of the creditors and hope to get some money back. Let’s say you don’t receive anything back then. Only the people with payments done by credit card have hope.
What other protection do you have?
If so, pay anything you buy above £100 with a credit card payment; you have protection only if you take care of the credit responsibility.
Why a credit card? Because something you bought through it means the organization providing the card is liable with the one who sells. So in the case when the retailer fails, take the acclaim from the credit card provider.
How does this protection help? Well, so that you don’t be in debt for the product, you can’t use it.
Thomas Cook’s consumers didn’t have a travel insurance policy or Atol protection reclaimed through the credit card provider.
What happens in the case when the company that is responsible for returning your money is sold?
If the new owner took the company using the old owner’s liability, there is no chance of getting the money back. But if that is not the case, then it’s up to them to decide to honor those debts.
The chances ate more that the new owners will not honor the gift vouchers, deliveries, and even repair or refund that the old owner had to do.
So reassure yourself if you can claim that from the credit card providers if you have made the payment through it.
What happens to the warranty?
Though the retailer is sinking in the water, if the product came with the warranty, then you’ll still be able to receive it. In the case that the product is from a manufacturer, then claim for a refund from them.
Have you got the additional warranty, then worry not! A third party may provide that, so check the paperwork and see if you could still claim it.
