Yes Car Credit/Direct Auto Finance PPI

[doryphor]

Hi, when I took out a car loan through the new defunct Yes Car Credit 3 years ago, I was told I had to take PPI as part of the agreement. This was done in person, so no phone records remain for that exchange.

I can't see any other threads relating to Yes so I wondered what other people thought on the likelihood of being able to claim back the PPI charges, as given a choice I wouldn't have selected it.

The other thing is that, unlike credit cards where it's added on monthly dependent on your balancce, the total costs for the term of the loan were calculated and added to the total loan cost as a grand total amount to repay. How would this affect my ability to reclaim?

Many thanks for any advice!

[hellhasnofury]

Hi, when I took out a car loan through the new defunct Yes Car Credit 3 years ago, I was told I had to take PPI as part of the agreement. This was done in person, so no phone records remain for that exchange.

I can't see any other threads relating to Yes so I wondered what other people thought on the likelihood of being able to claim back the PPI charges, as given a choice I wouldn't have selected it.

The other thing is that, unlike credit cards where it's added on monthly dependent on your balancce, the total costs for the term of the loan were calculated and added to the total loan cost as a grand total amount to repay. How would this affect my ability to reclaim?

Many thanks for any advice!

 

Hello Dory

 

I don't think that it will affect anything, just start the process of reclaiming it back. If it was mis-sold it was mis-sold.

 

If iit was added as an upfront insurance premium all the better, have a read about the threads, there are many threads with up-front premiums.

 

If you need help just shout.

[doryphor]

Against all odds, I've located my copy of the agreement. Now, under the section detailing the insurances, it says 'Addition Optional Non Cancellable Insurances'. While it says that there, I was told in person that I needed to have them to take out the car loan, as is the tradition it seems. Assuming they are actually able to locate a copy of the agreement themselves (a separate issue), where does that make me stand in attempting a claim? In essence, it comes down as my word against theirs - albeit with a fine already applied to them for the same issue previously - but with documentary evidence showing I signed something that said it was optional. I distinctly remember asking the lady, 'do I have to have the insurance?', and her solemnly intoning that, yes I did. It bumped the payments from £102.65 to £141.16 per month. Over the three and a bit years of payments (less than a year to go!), that means an extra £1463.38. Which, as it happens is approximately equal to the remaining 10 months total payments (obviously those payment still include the insurance of course.)

 

I'd love to be shot of this company, but am fearful of starting down a path which will end up with them shoving the agreement in my face, and say that I signed knowing it was optional. Having had the 'fact' that it was mandatory shouted at me the whole time I was taking out the loan, I missed that part of the agreement. Only in taking it out now do i see it - but that holds no weight in a court of law, I'm sure!

[doryphor]

Having had a look at this page, Consumers to benefit from PPI refunds agreement linked from one of the other threads, I suspect my T&Cs might contain the "not apply nil refund terms in contracts with existing customers;" clause. Here is a copy of what I think may be the relevant clause in the contract:

4.2...If an Event of Default shall occur of this Agreement shall be terminated, then we shall be entitled to demand that you shall pay immediately the whole of the balance of the Insurance Instalments outstanding (whether or not otherwise accrued due) less a Statutory Rebate at the time of the payment.

 

later

 

6.6.1 If we terminate this agreement for any reason, then, in addition to your liability under clause 6.4 above, you must immediately pay the whole of the balance of the Insurance Instalments outstanding (whether or nor otherwise accrued due) less a Statutory Rebate at the time of payment.

 

In addition to these two clauses, it clearly states that the Insurances are 'Non Cancellable', which in itself simply doesn't sound right. In the same box of the 'credit agreement regulated by the consumer credit act 1974' that details the insurance costs and interest relevant to those costs, it states that, "the excerise [sic!] of your right of termination will have no effect on your obligation to pay the Insurance Instalments." In other words, I can cancel the agreement, but still have to pay the PPI.

 

The more I read this, and the more I read that FSA link above, the more I think that contrary to my previous post I may have something here. Since it appears the T&Cs contravene the FSAs agreement, I truly hope that Yes/DAF will simply cough up the PPI payments.

[hellhasnofury]

Having had a look at this page, Consumers to benefit from PPI refunds agreement linked from one of the other threads, I suspect my T&Cs might contain the "not apply nil refund terms in contracts with existing customers;" clause. Here is a copy of what I think may be the relevant clause in the contract:

4.2...If an Event of Default shall occur of this Agreement shall be terminated, then we shall be entitled to demand that you shall pay immediately the whole of the balance of the Insurance Instalments outstanding (whether or not otherwise accrued due) less a Statutory Rebate at the time of the payment.

 

later

 

6.6.1 If we terminate this agreement for any reason, then, in addition to your liability under clause 6.4 above, you must immediately pay the whole of the balance of the Insurance Instalments outstanding (whether or nor otherwise accrued due) less a Statutory Rebate at the time of payment.

 

In addition to these two clauses, it clearly states that the Insurances are 'Non Cancellable', which in itself simply doesn't sound right. In the same box of the 'credit agreement regulated by the consumer credit act 1974' that details the insurance costs and interest relevant to those costs, it states that, "the excerise [sic!] of your right of termination will have no effect on your obligation to pay the Insurance Instalments." In other words, I can cancel the agreement, but still have to pay the PPI.

 

The more I read this, and the more I read that FSA link above, the more I think that contrary to my previous post I may have something here. Since it appears the T&Cs contravene the FSAs agreement, I truly hope that Yes/DAF will simply cough up the PPI payments.

 

Hiya Doryphor,

 

Bet your eyes are sore after reading all that smallprint. LOL.

 

There are many issues regarding the mis-selling of ppi, many people ticked or didn't tick the box. Is I feel is not that relevant. They have to ensure that your are fully aware of the ppi, its exemptions etc, Whether it was suitable for your needs. If you needed it.

 

Did you ever receive the elusive ppi policy, with its terms and conditions. Not many people do. They do not even know the name of the company they would claim from, so that good start.

 

Have you sent a SAR and a CCA request to them.

 

Against all odds, you found your ca, will they??????

[doryphor]

Many thanks for the response, hellhas! I haven't yet sent a SAR, nor a CCA request. From what you say, I'm guessing I should do that first. Should they then be able to produce a CCA, then I can go ahead with the PPI claim.

If they're not able to produce a CCA within the given time limits, and all options as per that process are exhausted, I suspect I then have no legal reason to continue payments, as no agreement legally exists. Do I get previous payments back as well? Tis a nice thought, and possibly falls under the 'too good to be true' bracket. (Although, the bank charges claiming seemed too good to be true, and that happened!)

[hellhasnofury]

Many thanks for the response, hellhas! I haven't yet sent a S.A.R - (Subject Access Request), nor a CCA request. From what you say, I'm guessing I should do that first. Should they then be able to produce a CCA, then I can go ahead with the PPI claim.

If they're not able to produce a CCA within the given time limits, and all options as per that process are exhausted, I suspect I then have no legal reason to continue payments, as no agreement legally exists. Do I get previous payments back as well? Tis a nice thought, and possibly falls under the 'too good to be true' bracket. (Although, the bank charges claiming seemed too good to be true, and that happened!)

 

Hello dory,

 

To dream to dream if only

 

You may be amazed what you find out.

 

Your dispute is regarding the mis-selling of ppi and you are about to conduct investigations into this. If they cannot produce the ca, then there is more ammunition for you to get it back:D

[doryphor]

I've been reading the mammoth thread here Loan Company Cannot Supply Original Agreement and am unsure which I should do first. Given the recent fines imposed on Yes/DAF, I'm half inclined to send the letter asking for my insurance premiums to be refunded. I'd actually be better off, financially, doing that. On the other hand, I might get further faster by requesting a true copy of the agreement by sending a SAR, as after 12 working days the debt becomes unenforcable, and 30 days thereafter, an offence is committed.

I found a template for a CCA request, but not a full SAR. From what I've read (and my head is spinning a bit!) the full SAR means that I really should be getting a copy of my signature as well. Any suggestions on wording for that?

Can I even put it all in one letter, or is that too much? CCA, SAR and PPI claim.

Many thanks on this. There is such a wealth of information on this site these days!

[hellhasnofury]

I've been reading the mammoth thread here Loan Company Cannot Supply Original Agreement and am unsure which I should do first. Given the recent fines imposed on Yes/DAF, I'm half inclined to send the letter asking for my insurance premiums to be refunded. I'd actually be better off, financially, doing that. On the other hand, I might get further faster by requesting a true copy of the agreement by sending a SAR, as after 12 working days the debt becomes unenforcable, and 30 days thereafter, an offence is committed.

I found a template for a CCA request, but not a full SAR. From what I've read (and my head is spinning a bit!) the full SAR means that I really should be getting a copy of my signature as well. Any suggestions on wording for that?

Can I even put it all in one letter, or is that too much? CCA, SAR and PPI claim.

Many thanks on this. There is such a wealth of information on this site these days!

 

Hello,

 

There is a wealth of knowledge on the site and yes it does set your head of spinning.

 

My advice would be to calm down and work to a plan of action. Get all the information that you need.

 

Send the full SAR will post one below and the CA request. You will find the ca request in the general debt forum under the sticky template letters to your creditor, it is letter n that your need. Enclose your £1 and sit back and wait. Do them separately as they may go to diferent departments. Send them recorded delivery and keep the receipts, so you can go on the PO website to ensure that they receive them.

 

Once you get all the info, then you hit them with the ppi claim.

 

It can be a lengthy process, but rest assured, good things come to them who wait.

 

Here is the full SAR, amend it to your own details cost £10

 

Your address

 

Their address

 

Date

 

DATA PROTECTION ACT 1998

SUBJECT ACCESS REQUEST

 

 

Dear Sir/Madam

 

Your Name

Acount no/no'sxxxxxx

 

I understand that you currently hold details of my personal and financial information within your internal record systems with regard to personal loan accounts

Please supply me with a complete list of transaction and charges relating to my history with your organization, INCLUDING Loans, payment protection insurance and other products. Alternatively a complete set of statements for the accounts or associated accounts is acceptable. I would be grateful if you would provide the following for ALL accounts or associated accounts I have held with your organization:

-Full copies of all contracts which you believe exist or have existed between myself and your organization, including true copies of any documents you hold in support of the same.

- A complete list of all transactions or statements relating to ALL of my Loan Accounts with your organization.

-Copies of all documents which include any of my personal information including copies of any contacts or invoices, emails or computer records containing my personal information, or any records which pertain to this information.

-Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organization or third party which contains my personal or financial, or which pertains to me.

- Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorised officer of your company, confirming the dates and methods of destruction of this data.

-Full hard copy print outs of my personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations.

I enclose a cheque in the sum of £10 to cover your fee.

IF YOU UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIALTELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROCECTION.

I look forward to hearing from you in the first instance of receipt.

Yours faithfully

 

 

 

 

 

Your name, Either don't sign it, initial it or be careful to sign the letter in a way, you will know if they have copied onto a ca. Do not trust them, they will resort to underhanded tactics

 

Oh dear how cynical have I become.

[doryphor]

Thank you so much for this! Good tip about the signature, I wouldn't have thought about that!

[doryphor]

After weighing up the different options, I decided against going down the agreement route, as the information I was getting is from the agreement. Plus I stand to get more by claiming for the PPI. To that end, I sent the following letter on 3 Oct

Dear Sir/Madam,

Ref – Agreement No. xxxxxxxxx

 

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

 

I took out a £x loan at the xxx branch of Yes Car Credit for car (reg xxxx xxx) on 31 July 2004 and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. The total amount of my premiums plus interest is £xxx.

 

The reasons I believe I have been mis-sold are detailed below:

1. Your member of staff did not ask me about any previous medical conditions when the policy was sold;

2. In the Agreement, it states that I cannot cancel the policy. As the FSA has now stated ‘no refund’ terms are considered unfair I would like my original cancellation request (requested at the time of taking out the car loan) to be honoured;

3. I was not given the correct information when the policy was sold to me;

4. Your salesperson was very pushy in selling me the policy so that I felt I could not say no;

5. Your salesperson did not tell me that the policy was optional;

6. Your salesperson stated that taking out the policy was essential for me to get the associated credit;

7. I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

 

I am requesting a full refund of all my insurance payments, plus interest, which total £xxx. (This is comprised of 37 monthly payments, to date, of £xxx, as set out in section 3.0 of my Credit Agreement.) As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made. I also expect the insurance to be removed from any future payments, beginning with October 2007, such that all future payments are £xxx.

 

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

 

Yours faithfully,

 

 

Doryphor

They have sent this dated Oct 19 as a reply:

We refer to your letter dated 3 October 2007.

We have reviewed your file fully, regarding the points raised.

We reject any suggestion that the sale of the policy in question was in any way mis sold. There is significant evidence that you were aware insurance products were optional.

Your recollection of the facts in July 2004, now appear very vivid, so we have reviewed the documentation you signed, the interpretation is also clear:-

Conditional Sale Agreement

a. You signed an important legal document, in which you specifically confirmed you wanted to be 'legally bound by its terms'

b. Just above your signature there are statements in bold, which state, 'If any of the statements in the Customer's Declaration are not true, you should not sign this agreement' - you signed the agreement.

c. Given point b. above I refer you to Point 7 'Additional Insurance Protection', where the 'yes' box is ticked to the statement 'Have you received a leaflet with details of the insurance(s) you have applied for and explaining the extent of the cover?'

d. To reaffirm point c. you signed the Customer Declaration under the paragraph commencing 'I/we agree that the above statements are correct'

Handover Checklist

a. You have signed this form confrming the Finance Department had fully explained 'the additional optional insurance products'.

We wish to make it clear at the outset that your reference to FSA regulation of the general insurance industry, including promulgation of the ICOB rules, came into force on 14 January 2005. The policy to which your letter relates was sold on 31st July 2004.

You have provided no particulars of the conversations, which are alleged to have taken place.

You have the benefit of a policy which can be invoked at any time to your benefit, should you suffer accident, sickness or unemployment. You have not complained about the existence of the insurance policy before now.

In the circumstances, we consider the seven points of your argument for a refund to be wholly without merit. Your position is not supported by any evidence. We have no reason to believe that our standard procedures were not followed at the time the agreement was entered into, or that the optional nature of the insurance products was not fully explained to you. Our position is borne out by the documents signed by you.

It remains your prerogative to take whatever action you feel necessary, if you still feel pursuit of a 'claim' is warranted. We have responded to your correspondence and will now close your file. However, please not that this agreement with our Company started on 31st July 2004 and therefore, occurred before we were FSA authorised. It is our understanding that this therefore falls outside the jurisdiction of the Financial Ombudsman Service

Yours sincerely

Now, aside from being very condescending in tone, it does seem that I have no recourse. Is this reply some sort of standard response? Does what they say about the FSA authorisation hold true? I'm concerned that they have me over the proverbial barrel.

[TRIXIE]

I've had exactly the same response from them!!

 

Needless to say I'm not going to give up just yet. I'm hoping it is just a delaying tactic as per the bank charges. I'm going to do a bit more reading if I find anything I'll get back to you

[hellhasnofury]

After weighing up the different options, I decided against going down the agreement route, as the information I was getting is from the agreement. Plus I stand to get more by claiming for the PPI. To that end, I sent the following letter on 3 Oct

 

Dear Sir/Madam,

Ref – Agreement No. xxxxxxxxx

 

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

 

I took out a £x loan at the xxx branch of Yes Car Credit for car (reg xxxx xxx) on 31 July 2004 and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. The total amount of my premiums plus interest is £xxx.

 

The reasons I believe I have been mis-sold are detailed below:

 

1. Your member of staff did not ask me about any previous medical conditions when the policy was sold;

 

2. In the Agreement, it states that I cannot cancel the policy. As the FSA has now stated ‘no refund’ terms are considered unfair I would like my original cancellation request (requested at the time of taking out the car loan) to be honoured;

 

3. I was not given the correct information when the policy was sold to me;

 

4. Your salesperson was very pushy in selling me the policy so that I felt I could not say no;

 

5. Your salesperson did not tell me that the policy was optional;

 

6. Your salesperson stated that taking out the policy was essential for me to get the associated credit;

 

7. I am concerned the sales assistant that sold me the policy has no financial background and the policy was not sold in my best interests.

 

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

 

I am requesting a full refund of all my insurance payments, plus interest, which total £xxx. (This is comprised of 37 monthly payments, to date, of £xxx, as set out in section 3.0 of my Credit Agreement.) As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made. I also expect the insurance to be removed from any future payments, beginning with October 2007, such that all future payments are £xxx.

 

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

 

Yours faithfully,

 

 

 

Doryphor

 

 

They have sent this dated Oct 19 as a reply:

 

We refer to your letter dated 3 October 2007.

 

We have reviewed your file fully, regarding the points raised.

 

We reject any suggestion that the sale of the policy in question was in any way mis sold. There is significant evidence that you were aware insurance products were optional.

 

Your recollection of the facts in July 2004, now appear very vivid, so we have reviewed the documentation you signed, the interpretation is also clear:-

 

Conditional Sale Agreement

 

a. You signed an important legal document, in which you specifically confirmed you wanted to be 'legally bound by its terms'

b. Just above your signature there are statements in bold, which state, 'If any of the statements in the Customer's Declaration are not true, you should not sign this agreement' - you signed the agreement.

c. Given point b. above I refer you to Point 7 'Additional Insurance Protection', where the 'yes' box is ticked to the statement 'Have you received a leaflet with details of the insurance(s) you have applied for and explaining the extent of the cover?'

d. To reaffirm point c. you signed the Customer Declaration under the paragraph commencing 'I/we agree that the above statements are correct'

 

Handover Checklist

 

a. You have signed this form confrming the Finance Department had fully explained 'the additional optional insurance products'.

 

We wish to make it clear at the outset that your reference to FSA regulation of the general insurance industry, including promulgation of the ICOB rules, came into force on 14 January 2005. The policy to which your letter relates was sold on 31st July 2004.

 

You have provided no particulars of the conversations, which are alleged to have taken place.

 

You have the benefit of a policy which can be invoked at any time to your benefit, should you suffer accident, sickness or unemployment. You have not complained about the existence of the insurance policy before now.

 

In the circumstances, we consider the seven points of your argument for a refund to be wholly without merit. Your position is not supported by any evidence. We have no reason to believe that our standard procedures were not followed at the time the agreement was entered into, or that the optional nature of the insurance products was not fully explained to you. Our position is borne out by the documents signed by you.

 

It remains your prerogative to take whatever action you feel necessary, if you still feel pursuit of a 'claim' is warranted. We have responded to your correspondence and will now close your file. However, please not that this agreement with our Company started on 31st July 2004 and therefore, occurred before we were FSA authorised. It is our understanding that this therefore falls outside the jurisdiction of the Financial Ombudsman Service

 

Yours sincerely

 

 

 

Now, aside from being very condescending in tone, it does seem that I have no recourse. Is this reply some sort of standard response? Does what they say about the FSA authorisation hold true? I'm concerned that they have me over the proverbial barrel.

 

Hello Dory,

 

What have you done about this, Can you let us know. I have just come across this post.

 

They are very clear to let you know the claim will not be inverstigated by the fos. but the court may make them sit and listen.

[ladyvlvt]

I wrote to Direct Auto Finance and received a very prompt reply, albeit a standard reply which included items that made it more than obvious that they never actually read my first letter. I have now penned the following letter to see what the next response is. If it is not favourable I will be taking the Ombudsman route as the Ombudsman suggested to me. I do apologise if this is a long post but maybe if I am successful it will help someone else as well. Will let you know what happens. People and companies like this totally make me angry

_______________________________________________________________

We are writing in response to your letter dated 2nd April 2008 from Direct Auto Finance, with regards the insurance sold with my Car loan.

We do not feel your letter has offered a satisfactory justification that my policy was sold fairly, reasonably and within my best interests so we request that you look into our complaint again. We have included our reasons below. If we do not receive a more favorable response within 14 days we shall be taking my complaint to the Financial Ombudsman.

We believe we have been mis-sold a payment protection insurance policy and would like to request a full refund of our premiums, plus interest paid.

We took out a loan at the xxxxxxxxxxxx branch of Yes Car Credit for a car (reg xxxxxx) on 22 January 2005 and also bought a payment protection policy which would cost us an extra £3619.04 over the life of the loan.

 

The reasons we believe we have been mis-sold are detailed below:

1. It is unfair practice to force someone to take out a PPI policy as a condition of credit when the policy must be taken out with the same company as the loan is being taken with.

 

2. In the Agreement, it states that we cannot cancel the policy. As the FSA has now stated ‘no refund’ terms are considered unfair we would like our original cancellation request (requested 3 days after taking out the car loan) to be honoured. We wish to make clear from the outset that FSA regulation of the general insurance industry, including promulgation of the ICOB rules, came into force on 14 January 2005 and our loan was taken out and signed for on the 22 January 2005. According to the FSA this practice is illegal. We have been made aware that you had at that time signed up to the FSA regulations and should have known this practice was wrong.

 

3. We were not given the correct information when the policy was sold to us; Also the loan was taken out in both of our names but we were advised much later the PPI would only cover the licenced driver, even though both of us were/are responsible for the loan. According to the FSA this is illegal

 

4. On the front page of our contract it states PPI as additional optional insurance and at the time we advised we did not want but were told we could cancel within the “cooling off period of 7 days” by your salesman. When we tried to cancel within 3 days we were advised that we would lose the car and the contract would be cancelled in full. Again, this is incorrect practice.

 

5. We were not given full explanation of what PPI would and would not cover. We were not asked any medical questions upfront nor were we asked if we were employed full time or if we worked for temporary agencies, which we both did at the time. Your salesperson stated that taking out the policy was essential for us to get the associated credit but that we could cancel it after the loan was arranged within 7 days.

 

6. We are concerned the sales assistant that sold us the policy has no financial background and the policy was not sold in our best interests

 

7. We were never supplied the PPI documents or policy details.

 

We do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as we did not need this insurance and said at the time of taking the loan that we did not want it

 

We are requesting a full refund of all our insurance payments, plus interest, which total £2469.24. (This is comprised of 38 monthly payments, to date), plus the additional refund of the £200 deposit that was applied to the original amount of insurance bringing the full total to £2,669.24 as set out in section 3.0 of my Credit Agreement.) As we believe we have been deprived of this money we also expect 8% statutory interest of £213.54, the amount a court would award, to be added to the payments made. The total refund we are requesting is £2,882.78. We also expect the insurance to be removed from any future payments, beginning with May 2008, such that all future payments are £205.76. If however this is not resolved before the 28th May, 2008 when the next payment is due, all above amounts will increase by one month bringing the full amount due to us by refund to £2734.22 + £218.74 statutory interest 8% for a grand total of £2,952.96

 

If we do not receive a favourable response from you within 14 days, we will pursue this claim through the Financial Ombudsman and the courts whose advice we have already sought.

Edited May 12, 2008 by ladyvlvt

[ladyvlvt]

Possible result!!!! Not sure should take it though....any advice please.

Here is the letter I received today from one I wrote to them above. Mind you our loan will be paid off in Feb 09.

 

We have set out our position in this matter and have reponed to your revious correspondence.

 

However to clarify the following points reaised we would again, confirm as follows

1. you have provided no particulars of the conversations, which are alleged to have taken place.

2. you have only raised these issue severalyears later.

3. you signed contemporaneous documentation stating that the insurance products were optional

4. we believe that the policy has been sold fairly.

We have conducted ourselves lawfully and in a manner which complies with UK laws. The agreement was constructed in line with the relevant legisttion ffective at the time. Our process was specifically designed to give customers the option of raising any queries or concerns with different departments a system of checks and balances.

Your position is not supported by any eveidence. We have no reason to believe that our standard procedures were not followed at the time the agreement was entered into, or that the optional nature of the insurance products was not fully explained to you. Our position is borne out by the documents signed by you.

However, we are always keen to bring complaints to amtually agreeable conclusion and therefore are willing to write off your remaining balance to close the account. A completion letter will be sent to you in due course.

 

Now, i for one think i should just continue this with the FSA/Courts as I will still have paid for a policy that I never wanted and was mis sold. If they write off the remaining few months of the loan will make little difference to them as at 29.9% interest the car was paid off ages ago in principle. I feel they did wrong and at the end, although I would not have to pay the remaining 9 payments at £270 a month, I would still be better of continueing the fight. What do you think? Also, it is possible to claim back for all the £30 letters they have sent me when a payment was late etc?

 

I look forward to some guidance and help as i will need to sort a reply asap!!!