Yes Car Credit PPI can anybody help

[happyalf]

I am coming to the end of my contract with Direct Auto Finance, I bought a Car from yes Car Credit in 2004 and now have 3 final payments to them so the end of March is my ast Payment.

I missed 1 payment through the whole process and suffered for that with charges and endless telephone hassle.

 

I was not told that the PPI was optional and that i had to have the PPI to sec ure the Car.

I have been paying #150.47 a month over 42 months.

 

Has anybody had success claiming back the PPI,Do i wait until have made my final Payment or do i just go ahead now.

What is the Process i should start with.

Any advice would be very helpful ths money would pretty much clear my outstanding Debt.

Mnay thanks Happyalf

[alanfromderby]

Have a good read through the stickies at the top of the PPI forum - it may take a couple of days, but you will learn all you need to know.

[happyalf]

Thank you for your reply i intend to do this,I am reading the Stickies as advised.

So would anybody say it would be better to wait until i have made my last payment March or just go for it Now.

 

Hope to keep posting and also hope others will join me on this i can't be the Only person that was Sold the PPI.

 

So if anybody who has already done it please join in here so we can share info.

 

Looking forward to this Thanks everybody.........

[alanfromderby]

To be perfectly honest, it will probably take that long to be in a position to take the matter further. For instance, if you need to do a DSAR they have 40 days to comply - even if you have all the paperwork to hand now you will have to give them 28 days to respond to your demands for repayment.

 

I would start the process and be ready to issue an action the day after you have finished paying - of course that is just my opinion.

[happyalf]

Hi thank you yes i do have the paperwork am i right in thinking that the amount to claim is everything that comes under,

 

" Additional Optional Non Cancellable Insurances"

 

Also the Interest in this Section.

 

I have not been able to find anybody who has Won with DAF there must be lots .

 

Thank you again Regards Happyalf.........

[alanfromderby]

We had this problem early on with bank charge claims - many people started to claim at the same time, but it took about three months before the numbers of "won" cases started to really get going.

 

Am I right in thinking that this is a fixed term loan with all the interest front-loaded at the beginning?

 

If so, then you are claiming the PPI and the interest - you then add 8% simple interest on that amount from the date of the agreement to today. You can calculate that by using the bank charge spreadsheet which is in the Bank Template Library.