If the finance is secured against the asset, it belongs to the finance provider till paid for in full. If it isn’t, then it’s with the individual who took it out. Also consider that while in most cases the store may be subsidising the 0% offer, in other models the finance provider will pay the shop a commission for introducing the customer, the car industry for example is usually based on this. It’s just another way of keeping cash flow going vs invoice factoring.

Quote Originally Posted by Mr. Gen View Post
which is exactly what it is.

you will end up with a CCJ which over 25 years (your high rate mortgage payments) will cost a lot more
Given a CCJ is only on your credit file for a maximum of 7 years and lenders only check when evaluating you for new offers/lending, that isn’t really likely. It may prevent you from receiving a new discounted rate offer, but SVR is low and without enforcement or acknowledgment of the debt from the debtor it’s a bit of a non event, most just flog the debt to a 3rd party collection service and let them have a run at it, they pay penny’s on the pound and aim to make money by recovery and fees. I speak as someone who had customers who owed money and who got reasonably good at getting it back and learning how the game was played. It’s easy and cheap to avoid debt, it’s neither easy or cheap to enforce it and you have no guarantee of being able to get anything even if you do.