insurance has my money

[beerfish]

i took out a policy with an insurance company which they arranged the finnance however the policy was stopped after six months and they went bump not long after and never returned the money to the finance company or myself to pay the remainder is there anything that can be done about this ? i am paying a ballif at the min as i thought this matter was not right nobody seems to want to help

[buzby]

Not enough info. What was the policy for? Car Insurance, Payment protection?

[beerfish]

it was a car insurance company named j and m however they are not trading and took six months worth of policy with them which is 380 quid and balliffs on behalf of amber credit are taking payments from me

 

if the company went bump shouldnt they have returned the remainder to me as i canceld the 12 month policy on the sixth month

[buzby]

If the company went bust, then you lose out totally, along with any protection. If you had an accident, then you would have been liable for your own and any damage caused to third parties - so at least it wasn't as bad as that! J&M most likely were brokers than insurers, who advised you your policy had been cancelled?

 

You also mentioned Amber Credit at Bailiffs. Had you been taken to court for non payment of the car? Was it reposessed and you're having to pay the residual value to the finance company?

[beerfish]

no the insurance broker was still running while i canceled the policy but never returned the remaining six months policy i didnt want anymore cover at all and i didnt think that it was right for them to hold on to the money as only six months worth was used instead of the full twelve

 

baliffs have steped in to recover the loan taken out by the broker to cover the insurance policy which was signed by me(i think)

 

no this has not gone to court as i have agreed to pay the ballifs £10 a week i supose this is just like the farepak incident everyone looses out

[buzby]

There's a lot of things not right here. Bailiffs are officers of the court, if you've never been to court and lost, then Bailiffs are not interest in you. Are you using this term but meaning debt collection agents?

 

Now, if it is YOU who cancelled your insurance policy, did the broker say what amount the premium refund would be, or if there would be any refund? Just because you cancel a policy after 6 months doesn't mean you get back half of what you paid, and its worse if the payment is made monthly.

 

If these debt collection people are trying to recover a payment for your insurance, why are they doing this if you've already paid it and wanting a refund? It doesn't make much sense....