The Funding Corporation PPI

[drob]

I took out car finance with the Funding Corporation and was told that i had to take out PPI. The PPI premium was £1940.75 which i pay monthly at an APR 0f 40.3%

Can anyone tell me if i am able to cancel this Insurance? I have read my terms & conditions for Information about cancelling the PPI but cannot find anything. Also do you think it is worth trying to claim all my PPI payments back??

Does anybody have a template for a letter to cancel?

Thank You In advance

[hellhasnofury]

Originally Posted by drob

I took out car finance with the Funding Corporation and was told that i had to take out PPI. The PPI premium was £1940.75 which i pay monthly at an APR 0f 40.3%

Can anyone tell me if i am able to cancel this Insurance? I have read my terms & conditions for Information about cancelling the PPI but cannot find anything. Also do you think it is worth trying to claim all my PPI payments back??

Does anybody have a template for a letter to cancel?

Thank You In advance

Hello,

Please read this sticky it is extremely useful to decide whether you feel the ppi was mis-sold to you.

PPI - Some Notes for Claimants

This is new info and equally important to read

PPI Claims

See what you think after you read these.
There are a few letter to send re canceling your ppi about the different threads.
Ask if you need help

Good luck

[nish40]

This company are shysters, you do not, by law have to take out a payment protection policy, and if you never wanted it in the first place but were told you had to have it, contact OFT. i did on a car i had with a different company, and i won hands down, as far as the funding corporation go, i have a secured loan with them, and i am currently looking at legal action regarding the charges and harrassment ive recieved. good luck

[nish40]

Hi, anyof the Moderators available to help me out online now? will be appreciated. Underneath is a copy of a letter Stephensons have sent TFC, i got the copy in the post today when i got home from work, it reads:

Dear Sirs,

We write further to our various items of correspondence in relation to this matter, in which we have requested copies of our client's credit agreement and associated documents.
We note that you have refused to provide these papers promptly and within the specified time limits given by The Consumer Credit Act.
Consequently you are now prohibited by section 77(4) of the Consumer Credit Act from enforcing the agreement.

Please can yu provide these documents by return. Failing which we will have no alternative but to apply to the County Court for disclosure of the documents. We reserve the right t produce our previous items of correspondence to the court on the issue of costs.

[nish40]

Could anyone tell me if i keep paying the account, or can i cease till further notice?

[Sparklez30]

Who are Stephensons? Did you CCA request them and have received a response that they can not yet find the contract?

If so you could theoretically stop paying them I believe but they would update your credit record accordingly and ruin your credit history so it could do more damage than good? You may be better to keep paying until you have been to court but the descision is always yours!

They however could not take you to court to enforce the contract without the relevant enforcable agreement!

[nish40]

Hi sparklez, Stephensons are the solicitors, who are dealing with alot of dodgy stuff about this firm, theyare very good, and on the ball.
My credit file has already been ruined by these goons so im not worried about that really, but it would be nice to be able to get a month or 2 free lol. hat happened inthe beginning, they were very rude and abusive to me, calling me lesser than an animal, pond life etc, and i was told see Stephensons, i did and i was only going to complain about the treatment i recieved, but when Stephensons seen the paperwork, it was so dodgy they advised me of it, and are taking action.

[Sparklez30]

Oh that makes more sense As Stepehensons are already dealing with this would they not advise you on whether you should stop payments?

I know theoretically you can stop paying without the valid CCA (especially if your credit rating is already ruined) but maybe as you already have solicitors on the case it would be wise to seek their advise?

[nish40]

Cheers Sparklez, ill ring them tomorrow and ask, i only got the letter when i got home from work. But weirdly, as i got home TFC phoned 3 times between 6 and 645 to speak to me lol, i never speakto them, so obviously they are pretty desperate as i owe them £14000 lol.

I dontobject to paying any of my debts or anything, its just these people have ripped off so many of us, and are so rude and unhelpful it leaves a bad taste in your mouth.

Back in November 2006,i had some fraudulent activity in my bank and it was frozen by Halifax for a week and could nly draw cash with lots of ID.
I told TFC as i was due to pay them, their response was "well your type of pondlife will do anything to get out of paying"

I stated i could not use my debit card and all direct debits were cancelled, and they just said they didnt care, wasn't their problem and my account would have £60 fee applied by 5pm if its not paid, from then on it has been murder.

[Sparklez30]

£60 fee thats shocking. I'm truly glad I have never had any dealings with this firm!

I don't judge - I don't know enough about your circumstances to make a judgement even if I wanted to.

All choices are your own of course it just seems to me if you already have solicitors on the case you wouldn't want to do anything that might effect your claim.

Keep us updated on your progress though and good luck

[nish40]

Originally Posted by Sparklez30

£60 fee thats shocking. I'm truly glad I have never had any dealings with this firm!

I don't judge - I don't know enough about your circumstances to make a judgement even if I wanted to.

All choices are your own of course it just seems to me if you already have solicitors on the case you wouldn't want to do anything that might effect your claim.

Keep us updated on your progress though and good luck

I will keep you all informed and thanks again Sparklez

[gillypam]

Hi yes we are with tfc for car financine and yes they are rude etc all they won,t is there and yes up to press we have got £450 in charges to pay,it says that we can,tgive the car back even after 1/2 the term as passed it says even if we went bankrupted we would still have to pay them.we have still 2 1/2years of there **** to put up with we would love to get rid of the car as they pressurde us into getting this car but are credit file as adverse on it now.so good look whos to anyone who,s taking tfc on.
gillypam

[laurab08]

Hello, i work for a company who deal with PPI and ASU claims ... i have read that some people are being charged for claiming back their payments ... we do not do this. we are NO WIN NO FEE. If anybody would like any more infomation please dont hesitate to email me ... {[edit]

[freakyleaky]

Please read the site rules Laura.

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A topic/post will be edited or deleted if it contains:

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Offering to advise members by PM or email without good reason - If it is felt that a subject is "sensitive" and would be better discussed off-forum, we ask that members contact a member of the site team BEFORE asking for contact details. This rule is in place to protect our members from claims touts, and also to ensure that any advice given is open to debate, qualification, and where necessary, correction.