has anyone claimed back PPI from YCC

[koolkidz]

I bought a car from YCC in jan 2004. I couldnt meet the payments so gave the car back 12 months later. I am now paying off the huge debt left from it to Go Debt £35 per week. Which i cant afford. I have a copy off my contract with them which said i took out nearly £2000 in PPI. I remember being told that i have to have the PPI or i would not get finance. So being desperate i signed the form.

Has anyone managed to claim the PPI back from YCC, or am i wasting my time.

 

:confused::confused::confused:

[alanalana]

Hello Koolkidz,

 

Welcome to the PPI forum there a lots of folk here who will help if they can:)

 

I bought a car from YCC in jan 2004. I couldnt meet the payments so gave the car back 12 months later. I am now paying off the huge debt left from it to Go Debt £35 per week. Which i cant afford. I have a copy off my contract with them which said i took out nearly £2000 in PPI. I remember being told that i have to have the PPI or i would not get finance. So being desperate i signed the form.

Has anyone managed to claim the PPI back from YCC, or am i wasting my time.

 

Firstly let me post some information from the FSA register...link here...

 

FSA Register

 

Search conditions

 

 

FSA Firm Ref:

Firm name: yes car credit

Post code:

Match level: Best

Currently authorised:

Matches 1 to 3 of 3 records.

 

 

Search again

 

Firm namePost codePrevious/Trading As namesStatusNon-FSMA Registration

 

Direct Auto Finance Insurance Services Ltd

 

RH12 2RG Accepted Car Credit, Direct Auto Finance, Yes Car Credit No longer Authorised

 

Direct Auto Finance Ltd

 

RH12 2RG Accepted Car Credit, Yes Car Credit Appointed Representative - Former

 

Direct Auto Financial Services Limited

 

RH12 2RG Accepted Car Credit, Direct Auto Finance, Yes Car Credit

 

 

Appointed Representative - Former

 

You can check out which company it is and hit the red link on the left for more information.

 

I have a question reference your post.

 

Is Go Debt a Debt Collection Agency?

 

Was the original PPI for £2,000 taken out with yes car credit in the original agreement?

 

 

I remember being told that i have to have the PPI or i would not get finance. So being desperate i signed the form.

 

For claims before 2005 and the FSA ruling from which campaign

How to tell if you’ve been mis-sold PPI

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

 

It would appear from the FSA register that YCC were not authorised until 2005 and your loan was 2004 do not let this prevent you from putting in a claim.

 

give us some answers please and we can proceed from there.

 

aa;)

Edited October 20, 2008 by alanalana
post tidied up

[postggj]

hi koolkidtz

 

i might be able to end this for you now

 

if you have the agreement to hand, check the following

 

any deposit paid by you, was it used to pay for some of the ppi, insurances etc and not for the car.

 

ycc are well known for this and a perfect defence as it is unlawful

[alanalana]

Hello koolkidz,

 

I see Go Debt are a debt collection agency.

 

PO BOX 371

Cardiff

South Glamorgan

Cardiff

CF10 3WN

 

It would appear that Yes Car Credit (who are really hot on pressurised selling believe me from experience) have sold on the debt to a DCA namely Go Debt.

 

You can still stick here to reclaim Mis-sold PPI but have a look at this forum for the DCA issue.....

 

Debt Collection Industry

 

This may help fight of the DCA issue.

 

More advice will surely follow:)

 

aa

 

 

[John Atkinson]

It is imperative that no monies should be paid to Go Debt. This business is run illegally - outside of the rules set by dca regulations and trying to obtain monies by deception as Yes Car Credit finance agreements are no longer enforceable.

 

Car Credit Complaints

 

 

John A.

Edited October 20, 2008 by John Atkinson

[postggj]

ime still amazed dca try to collect on ycc agreements

totally agree john atkinson

[alanalana]

John,

 

It is imperative that no monies should be paid to Go Debt. This business is run illegally - outside of the rules set by dca regulations and trying to obtain monies by deception as Yes Car Credit finance agreements are no longer enforceable.

 

Can you please explain how they are no longer enforceable and which element of your link refers to this please.

 

aa

[postggj]

ill try to explain my reasoning on this

 

a lot of these micky mouse car finance agreements fail well below what is expected of the consumer credit act.

 

first thing is when you buy an item, say a car on finance, you pay a deposit. that deposit gets deducted from the price of the car leaving a total ammount payable,

 

if that deposit is used to pay for insurances,ppi, etc. it is not being used for the purpose for which it was intended. that way the finance company can screw you at the max ammount of interest on the full value of the car, extending the time to pay it off.

 

the next trick they use is the aceptance fee.

say the acceptance fee is £100

they then add that to the total ammount of credit,

therefore you are paying interest on the acceptance fee which was not part of the original credit ammount

 

this has been delt with in the high court

 

WILSON V FIRST COUNTY TRUST

 

i have used these arguments myself in court

 

ime sure someone like surfacegent would like to comment on this

[John Atkinson]

John,

 

 

 

Can you please explain how they are no longer enforceable and which element of your link refers to this please.

 

aa

 

 

There are a number of flaws within many early YCC finance agreements. Where PPI was sold to a customer the breakdown of this within the contract was written wrongly. It was only post 2005 where new contracts were drawn up that were correct.

 

YCC will not challenge any of these cases within a court environment as without doubt they will lose. In 100% of cases that has reached a court date YCC have settled out on condition of the consumer signing a confidentially agreement. The finance contract was then void and outstanding debt written off.

 

John A

[alanalana]

Hello all,

 

from postggj,

 

ill try to explain my reasoning on this

 

a lot of these micky mouse car finance agreements fail well below what is expected of the consumer credit act.

 

first thing is when you buy an item, say a car on finance, you pay a deposit. that deposit gets deducted from the price of the car leaving a total ammount payable,

 

if that deposit is used to pay for insurances,ppi, etc. it is not being used for the purpose for which it was intended. that way the finance company can screw you at the max ammount of interest on the full value of the car, extending the time to pay it off.

 

the next trick they use is the aceptance fee.

say the acceptance fee is £100

they then add that to the total ammount of credit,

therefore you are paying interest on the acceptance fee which was not part of the original credit ammount

 

this has been delt with in the high court

 

WILSON V FIRST COUNTY TRUST

 

i have used these arguments myself in court

 

ime sure someone like surfacegent would like to comment on this

 

From John A

 

There are a number of flaws within many early YCC finance agreements. Where PPI was sold to a customer the breakdown of this within the contract was written wrongly. It was only post 2005 where new contracts were drawn up that were correct.

 

YCC will not challenge any of these cases within a court environment as without doubt they will lose. In 100% of cases that has reached a court date YCC have settled out on condition of the consumer signing a confidentially agreement. The finance contract was then void and outstanding debt written off.

 

John A

 

I hand over to your greater knowledge on dealings with YCC. I am sure you will assist koolkidz to a successful outcome I will follow with interest;)

 

aa

 

Koolkidz you out there?

[koolkidz]

hi, just checked and the down payment by customer was added to the ppi bit. I am trying to paste and copy a copy of the contract for you to see. Thanks for all yr help everyone i will read through it now

[koolkidz]

hi i cant seem to paste copy of contract but am willing to email to you if it will help.

[postggj]

koolkidz

 

google photobucket

its free

deleate name,address, and account number,signature before posting

[koolkidz]

think i have put a copy of agreement on following link

 

 

"http://i425.photobucket.com/albums/pp338/KOOLKIDZ_03/AGR.jpg"

[postggj]

hi koolkidz

i see the put the 160 quid deposit on the insurances

thats a no no

 

give it a few days for some one to go over the agreement

 

i think go debt are in for a nasty surprise

when yoy get more replies, you need to be sending a letter to go debt putting the debt into dispute

that will be 35 quid in your pocket per week not go debt.

 

like i said, wait for more replies first

[koolkidz]

hi just wondered if anyon has any advice on what i should do next