Circuit City Financing Question

Discussion in 'Buying Tips and Advice' started by arthursiew, Nov 27, 2008.

  1. arthursiew macrumors 6502

    arthursiew

    Joined:
    Sep 13, 2008
    Location:
    SF Bay Area
    #1
    I asked the question about the Best Buy Financing around two weeks ago and now I have one simple question that I need an answer for.
    I used the Circuit City Financing Program (no interest until 2011) on a 40" flat panel and I'm aware that CC filed for Bankruptcy Protection. IF CC goes bankrupt within the months I'm in the no interest program and completely shuts down... what will happen to me? Do I have to pay CC completely when they fall or what?

    Thanks!
     
  2. Semiopaque macrumors regular

    Joined:
    Oct 7, 2008
    #2
    Read your contract on the no interest which I believe is through Chase. You really owe them money, not CC.
     
  3. timeconsumer macrumors 65816

    timeconsumer

    Joined:
    Aug 1, 2008
    Location:
    PNW
    #3
    That is correct. Circuit City finances through Chase. So if CC does close, of course you have to pay...
     
  4. slimasian macrumors newbie

    Joined:
    Mar 11, 2009
    #4
    I see this is an older topic, but I figured I'd chime in

    Arthur -- Chase extended you the promotional financing. Despite CC having gone bankrupt, you are not obligated to pay the remaining balance of your credit line all at once. If you look at your statement, there should be a line for Promotional Financing. It tells you when the promotion ends (i.e. mine is for 1/2011) as well as how much has been deferred thus far.

    This was a question on my mind as well, having bought a 50" Plasma last year via Circuit City/Chase financing.

    So, in short, pay it off before the promotional period and you should be fine -- and no, you won't have to pay it all at once now.

    Now, if Chase goes belly-up, then it's a different story...
     
  5. wako macrumors 65816

    Joined:
    Jun 6, 2005
    #5
    thanks for reviving an almost 4 month old thread... please dont dumpster dive just for the sake of posting :(
     
  6. miles01110 macrumors Core

    miles01110

    Joined:
    Jul 24, 2006
    Location:
    The Ivory Tower (I'm not coming down)
    #6
    Considering it just officially went out of business a few days ago, I think this is relevant.
     
  7. Shaun.P macrumors 68000

    Shaun.P

    Joined:
    Jul 14, 2003
    Location:
    Omicron Persei 8
    #7
    Hypocrite?
     

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