Can I Cancel My Optional Service Cover? - Yes You Can!!

[plumberjon]

Yes you can! Wow I'm starting to sound like Barack Obama!!

 

Optional means just what it says on the tin.

 

If you are buying new, then the majority of the service issues you are likely to come across during the reasonable life of a product, are covered under the Sales of Goods Act 1973, but as these items are being bought on a Hire Purchase agreement, a slightly different act is used, the Supply of Goods (Implied terms) Act 1973.

 

Therefore, the OSC at BH is just a way of making them, an awful lot more money than you or anyone can afford.

 

You just need to point blank refuse to sign for it during a new agreement sign-up. Or, if you already have it, you simply need to write to them asking to have it removed. Their own Terms & Conditions say you can do this, and it should be actioned in no more than 7 days.

 

Damage Liability Cover is a little different, but it too can be removed in just 7 days. They do insist on this if you don't have you're on household contents insurance, though it's a bit of a hot potato, as no-one has yet seen anywhere, that you actually have to prove it.

 

But it's prudent to have the insurance, and make sure that your insurer covers items that are subject to HP agreements in your home that are not owned by you, but that you are responsible for.

 

The letter below is to write to ask to remove OSC:

 

Item Description/Account Number XXXXXXXXXXXXXXXX

 

Dear Sir

 

I am writing to give the required 7 days notice, as detailed in my agreement(s) that I wish to cancel all "optional" service cover on the above product(s). To simplify matters, I have today (date) presented a copy of this letter to the store manager of Brighthouse (Branch), which has been duly acknowledged, so 7 days notice shall commence at the date of this letter.

 

As stated in my agreement:

 

“Your Obligations: Optional Service Cover

Section C (b) The service cover premium is renewable each time your regular instalment is due under the agreement. If the premium is not paid Service Cover will lapse.

 

Section H (3) This policy shall continue in force until you give seven days notice…”

 

I shall, therefore, be making my next payment on (day) at Brighthouse (branch). This payment will not include "optional" service cover.

 

I understand that I may be required to sign a revised agreement. I will only do this on the firm understanding that all payments made previously on this agreement are reflected in any revised agreement. I do not waive any of my rights under the Consumer Credit Act 1974 regarding, in particular, “early settlement” and “repossession” as set out in section J of the original agreement.

 

Kind Regards

You

 

Copy and paste this into Word and fill in your details, remember it is necessary to do this for each agreement, don't lump them all onto one letter.

 

Now, sometimes it is necessary for BH to cancel your agreement and start it again, if this is the case also make sure that you complete the following letter to make sure that you retain your rights from the previous agreement:

 

Original agreement number XXXXXXXXXXXXXXXX

 

New Agreement number XXXXXXXXXXXXXXXX

 

Date

 

Updated agreement to reflect Account Re-Set

 

IMPORTANT Payments made previously on this agreement (XX payments to date representing XX of the total amount payable) are to be reflected, and form part of, any revised agreement.

 

All rights under the Consumer Credit Act 1974 regarding, in particular, “early settlement” and “repossession” as set out in section J of the original agreement remain intact and continue uninterrupted into any revised agreement.

 

Signed - YOU

(Print name)

 

Signed - Store Manager (for and on behalf of Caversham Finance trading as BrightHouse)

(print name)

Edited January 18, 2009 by plumberjon
got the terminology wrong, sorry!!

[clemma]

To cancel the Damage Liability Cover use the same letter as the OSC one - just change the wording. You will need to prove you have house insurance though, before you can cancel.