- Original Poster
- #1
Hi all,
We install security systems in peoples homes with a minimum cost of £450
I'm looking to offer our services to more of the market specifically the people who can't afford to pay a big lump in one go.
I'm thinking of offering to install these systems for free followed by 24 low monthly payments to pay for the system including our servicing/maintenance through-out
I'm thinking of setting a new bank account up and put say £5,000 into it as an investment. The systems will be bought out of this pot and monthly payments paid back into it again.
The monthly payments will break even after 10 payments.
Now I know there is risk in people not paying etc but these systems can be shut down remotely by us etc, also the 5000 investment is an investment and will cope with some losses if any as it grows in size.
My question is, how does this work with regards to the credit consumer act? What if I just invoice the customer for the work and state payments terms of 24 £xxx monthly payments?
Thanks
We install security systems in peoples homes with a minimum cost of £450
I'm looking to offer our services to more of the market specifically the people who can't afford to pay a big lump in one go.
I'm thinking of offering to install these systems for free followed by 24 low monthly payments to pay for the system including our servicing/maintenance through-out
I'm thinking of setting a new bank account up and put say £5,000 into it as an investment. The systems will be bought out of this pot and monthly payments paid back into it again.
The monthly payments will break even after 10 payments.
Now I know there is risk in people not paying etc but these systems can be shut down remotely by us etc, also the 5000 investment is an investment and will cope with some losses if any as it grows in size.
My question is, how does this work with regards to the credit consumer act? What if I just invoice the customer for the work and state payments terms of 24 £xxx monthly payments?
Thanks
