| Viewing Single Post From: Prince V's Yes Car | |
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| PRINCEY | Feb 24 2007, 10:59 AM |
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Hi all, I have at last received all my info ( took a long fight) but now have the bits relating to my employed status, copys of id used etc. I have just written the following letter and would like some views on it before i send it. Please feel free to let me know your views good or bad. Regards Mark Request for a repayment of Payment Protection, GAP and Mechanical Breakdown Insurances Dear Sir/Madam, AGREEMENT NUMBER: xxxxxxxxxx My request I am writing to ask you to refund to me the sum of money paid for the Payment Protection Insurance, GAP Insurance and also Mechanical Breakdown Insurance that I now believe were mis-sold by an agent of Yes Car Credit. After reading and hearing many different articles concerning Payment Protection Insurance and also being an active member of YCC, it has been brought to my attention that I should have been able to purchase the car as I wished without any additional costs added to the monthly loan repayment. I wanted the smallest monthly repayment as possible due to my financial situation at the time of my visit to you. I now understand that all the insurances were entirely optional whereas your agent implied at the time of purchase that I had to take out these insurance’s to secure the car. I have included a copy of the terms and conditions for the PPI plan which have been provided to me. I quote the definition from these terms and conditions of a Contract Worker: “Contract Workers continuously Employed under a fixed term contract(s) for at least the two years immediately prior to the commencement of Unemployment, which has/have been renewed at least once in this period” I went into great detail with the salesman explaining the nature of my work and how my employment or basically self-employment worked. He knew himself because he too had worked for the same sales company in the past. Basically I was a sales person for a company who pay a commission only wage. No sells means No Income. The job I had was basically like being a contracted worker. I was instructed to tick the “no” under the self-employed part in the Income Details Section because I had a regular job within my employer so I was basically employed. This at the time seemed to make sense but I am a little wiser now and realise that I should have circled the Yes option to being self-employed. I had also explained to him that due to a broken leg in Sept 03 I had not received any income for the last 5-6 months, this was due to how my pay structure worked and this month being March 04 was my first month back at work to which I would receive any income. Referring back to the “CONTRACT WORKERS” part of the PPI which is what my employment was put under by your salesman, he knew that I was working as a contractor for 1 year 6 months (see copy of my personal details sheet enclosed) of which 5-6 months of that I was off work due to my broken leg and therefore would not have been eligible for any payments from the PPI if I could not get work or was sick. My situation was known to the person who sold me the loan; however he did not point out that the insurance was virtually useless to me so I believe that I was mis-sold that insurance. I refer you to the recent statement from the FSA in regards to loan payment protection insurance where they quote the Code of the Association of British Insurers (ABI) which requires the seller to ‘ensure as far as possible that the policy proposed is suitable to the needs and resources of the prospective policyholder’ The other insurances which were also sold to me were also taken because I was informed that without them, the loan agreement would not pass the credit checks due to my time off of work. I have a copy of my 1st original loan agreement form which was completed, where you can clearly see that I did not wish to take the extra insurances out ( see photocopy of loan agreement form which I have highlighted) but after being told that without purchasing all insurance’s meant no car, I had no choice but to change my mind. I was then made to complete a 2nd loan agreement form which you have on file because during the completion of the handover sheet, it was noticed that the insurances section had been changed from a cross to a tick and initialled. They instructed the salesman to complete the 2nd loan agreement without any changes on it. I remember the words “better to be safe than sorry” and years later I now know what was meant by that. This is clear proof that I never wanted any of the Insurances which were placed on my loan agreement and therefore shows that I was mis-sold all of them. I feel very upset about the way Yes Car Credit Staff have treated me as on the day of the sell everyone was very pleasant however I now feel that it was all fake smiles and promises. Maybe the smiles were people laughing about how they have just pulled the wool over my eyes like hundreds of people before me. Your responsibilities I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law. I consider that your repeated representations that your PPI plan along with GAP and Mechanical Breakdown Insurance was required and reasonable was deceptive and that Yes Car Credit staff deceived me into agreeing to pay them. What I require I calculate that the Payment Protection Insurance was for a sum of £1617.91 I calculate that the Mechanical Breakdown Insurance was for a sum of £650.00 I calculate that the GAP Insurance was for a sum of £350 Total = £ 2617.91 Interest added to outstanding amount £979.81 Total claimed £3597.72 My targets to resolve this matter I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets. I give you 14 days to reply to me accepting unconditionally my request in principle and letting me know a date by which I will receive payment. If you do not respond or you do not respond positively within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments. After that there will be no further communication from me and I shall issue a claim and lodge a complaint with the FSA at the expiry of the second deadline. Yours faithfully, |
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| Prince V's Yes Car · YES CAR CREDIT FORUM | |
6:57 PM Nov 27
