Viewing Single Post From: Paid Off Finance But Refused To Pay Insurance

Viewing Single Post From: Paid Off Finance But Refused To Pay Insurance
FallenAngel	May 16 2007, 09:03 AM
Posts: 1 Group: Members Member #1,264 Joined: May 16, 2007	Hi All I took a car loan through YCC in MArch 2005 and like many had the insurances are mandatory for the finance to go through speech. I took the insurances begrudgingly and later found out I'd been mis sold. By then my financial circumstances has been improved so I decided to pay off the loan and wrote for the settlement figure. I was way above what I had anticipated and it was like red rag to a bull when I saw what they wanted for the mis sold insurances. On principle I decided not to pay them, and just sent a cheque for the balance owed on the car together with a letter stating I'd been mis sold the insurances and was not going to pay for them. The cheque was cashed and I got a nice letter acknowledging it. Months later I got a letter from DAF/YCC saying I was not mis sold, and that the insurances were part of the contract and would remain so. As the insurances were not paid off the contract was still in force and they were charging interest on it as if I'd never paid the car balance off. i.e. the same amount of interest per month should I still have had Ł7k outstanding with them. I have spoke to them about this on many occassions and now I need a new car - I cannot trade this one in even though I have paid for it and I am being hammered for interest. The contract still shows as live on my credit rating and I am still getting calls trying to recover the Ł600 insurances. When I challenge the operator they say they will go away and look into it but noone ever comes back to me. Can anyone tell me what I should do about this? Fallen Angel


Paid Off Finance But Refused To Pay Insurance · YES CAR CREDIT FORUM