Jump to content
billie.skeggs

INsurence Finance. easonable time to pay ??

style="text-align:center;"> Please note that this topic has not had any new posts for the last 3643 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi guys im new here but have read many a thread in the past. some good advice here. Question i have si this. I recieved a call from my insurence company saying my first installmet had bounced so the contract for finance is now null and void and i would have to start a new mandate which includes a nice big deposit. here is where my problem lies. my initial deposit of £300 was paid on the 30th july. i recieve the creit agreement form to sign a week later stating they would be taking my first installment on the 13th august (14 days later) with this agreement i added a letter to change the DD date to the 27th of august as no funds would be available till then during to being paid 4 weekly. and come today i receve a call saying the agreement has been cancelled and upon recevial of the default notice (recorded delivery) i will have 7 days to pay the out standing balance or start a new mandate which includes a £260 opening deposit. at this rate im going to be stuck in a vicious circle and skinted just to have my car insured which i require for commuting. what i want to know under the CAA (credit agreement act) what is classed as a resonale time for first installment, as for my self who is payed 4 weekly i am not able to pay such a high amount in a 2 week period after my pay day thanks

Share this post


Link to post
Share on other sites

What do you mean 'I added a letter'? When you signed teh agreement di you alter the DD date, or did you write back when they wrote yo u? A little clearer on that please.

Share this post


Link to post
Share on other sites

Sorry. The cover letter stated the DD date of the 13th AUG the CA to be signed stated the 13 AUG when i returned the signed CA, i included a letter asking for the date to be changed to the 27th AUG as this is where funds would be available. My main question was if there was a minimum period required between deposit and first instalment. and would have i been better to alter then CA rather then then send an accompanying letter. (CA= Credit Agreement)

Share this post


Link to post
Share on other sites

Ok. So you signed on 30 July, they wanted to take first instalment on 13 August, you asked them in writing to change that to 27 and they took money on 13th anyway, unpaid due to insufficient funds. All correct so far?

 

Unless I am mistaken, they need to give you 15 days notice of taking money. They gave you 14. I may be wrong on that and stand to be corrected.

 

In any event, why was the payment date not a month after the deposit? Did they reply to your letter? Did you send the letter with the CA? If so and they have the CA they cannot say they didn't receive your letter!

Share this post


Link to post
Share on other sites
Ok. So you signed on 30 July, they wanted to take first instalment on 13 August, you asked them in writing to change that to 27 and they took money on 13th anyway, unpaid due to insufficient funds. All correct so far?

 

Unless I am mistaken, they need to give you 15 days notice of taking money. They gave you 14. I may be wrong on that and stand to be corrected.

 

In any event, why was the payment date not a month after the deposit? Did they reply to your letter? Did you send the letter with the CA? If so and they have the CA they cannot say they didn't receive your letter!

 

Written Letter was sent with the CA no letter of refusal or acceptance. inital deposit was paid on the 30th july approx a week later letter asking for signed CA came which was sent on the 10/11th.. (IIRC) so the agreement wouldn't have arrived in time of asked payment date. (2nd class pre paid envelope) its not a fact of not wanting to pay, just a bit more flexability of payment. after all £410 is more then half my current wage and cant afford all that in 1 pay period (4 weeks) i dont know what rules there are for the CCA for resonable time required to ask for pay.

Share this post


Link to post
Share on other sites

First thing I would do is ring and speak to the customer services manager. Be polite but make it quite clear that you are very unhappy thaty they ignored your letter and that they appear to be wanting to keep your substantial deposit and then ask for another one! I would suggest that they simply move the DD date to the one you asked for or refund your deposit and you will go elsewhere. If they refuse to budge ask them for the details for the FSA and tell them you will making a formal complaint to them.

Share this post


Link to post
Share on other sites

after spekaing to them and the finance service.. seems to have crossed wires.

 

Insurence company say the finance co set the rules and first installment is due 14days after the deposit.

 

finance company say itys the insurance co that set the rules so out of their hand.

 

i have till the 25th to pay the full amount or start a new agreement (meaning new deposit ) or insurence will be cancelled.

 

not sure what to do.. after all i have paid the initial deposot which in theory covers approx a month and a half of the policy..

 

doing my head in never had this mouch trouble with insurence. have spoke to the back to get a loan/finance plan.. however they say they may be able to offer me a credit card (although not what i want ) may just make ends meet :S

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...