Yes Car Credit PPI REclaim *** Resolved***

[ukdarrenfan]

I have received all the information from Direct Auto Finance for my claim with Yes Car Credit

and am about to send all the paperwork to them in respect of my claim.

 

Now from the few things I've read,

 

I'm expecting the inevitable 'NO',

so I want to be prepared for what to do next.

 

How long do they have to reply to my request?

 

When they do come back, what should I do next?

 

The loan is pre 2004,

 

so will need to go the court route rather than the FOS.

 

Thanks

[candyapple1]

Why do you say you will need to go the court route, is it because the loan was taken out previously to 2005? If so, that is not correct, FOS will investigate older claim than that.

[ukdarrenfan]

The loan started in April 2002 and I believe that they weren't regulated then.

[candyapple1]

No, but they still fall under Code of Conduct or some such, if you have a look through the forum, you will see heaps of instances where they have not only reviewed, but found in favour for cases from the early-mid 1990's.

[ukdarrenfan]

Everything I've read so far says that most people have received the standard 'no' letter, and have been told that they were not regulated by the FSA pre 2004 so cannot go to the Ombudsman for help. My loan was regulated by the Consumer Credit Act 1974.

[candyapple1]

IMS, slick, DX-does anyone want to clarify?

[dx100uk]

no set answer

 

sometimes the can

 

sometimes they wont touch it.

 

but its not an excuse to fob reclaimers off.

 

dx

[ukdarrenfan]

Well everything that I've read so far about Yes Car Credit suggests that the FOS doesn't want to know with regards to agreements that weren't regulated by the FSA,

so I'm not going to waste my time going to them.

 

I don't mind going the court route,

the few things I have read suggest they pay up before it gets that far.

 

I just want to know my next steps if that's what I plan to do.

 

How long do I give them to reply to my request for payment of PPI?

 

When they come back with their decision do I then follow it up with a letter before action?

[dx100uk]

if you used the FOS CQ [as you should regardless of your end route]

 

it states they have 8 weeks on the notes

 

dx

[ukdarrenfan]

Thanks. If they behave the same way they did when I sent the SAR request they will take every second of those 8 weeks!

[ukdarrenfan]

After reading the other thread about Yes Car Credit I've attached the relevant documents from my SAR. I believe that they took our deposit from the insurance as well. Would that change the amount that we should be claiming from them?

[dx100uk]

yes you'll have to recalc

 

have alook around i've done this a few times with daf finance threads

 

dx

[ukdarrenfan]

What do I do to re-calculate the monthly payments to find the new figure?

[ukdarrenfan]

I've just found the thread, but I want to make sure of my workings out before I do a new spreadsheet. Is it £2541.32 + 25.9% = £3199.52 divided by 48. That would give monthly payments of £66.66. Sounds about right for them...evil!

[dx100uk]

stay with the right hand ins listing figures

 

just recalc it

 

dx

[ukdarrenfan]

So did I work it out correctly?

[dx100uk]

yes

 

dx

[ukdarrenfan]

Brilliant, thanks!

[ukdarrenfan]

Is there anything in writing that I can print off that explains why the deposit should not be deducted from the insurance premium? I've looked everywhere, but can't find anything. It would be really useful to have it.Thanks

[dx100uk]

phone the OFT.

 

 

and ask i keep getting told it invalidates the whole agreement but i'm the same

 

dx

[ukdarrenfan]

I posted yesterday on another forum saying that I intended taking DAF to court with regards to my PPI claim

and had some incredibly rude person tell me that as my loan was from 2002, it was over 6 years old and therefore statute barred.

 

They then said it was pointless claiming as I wouldn't get any money back so 'get over it'.

 

I'm sure I've read somewhere that's not the case with PPI claims. Can you confirm this?

[dx100uk]

muppets..

 

there is NO time limit on PPI reclaims

see the FOSsite

 

dx

[ukdarrenfan]

Thank you. I shall have great pleasure in informing the saddo in question that that is the case!

[dx100uk]

find the bit on the FOS site then just post a link

 

dx

[ukdarrenfan]

Still searching for it but I fully intend to!