CYD UK Ltd / CYD Insurance Services Ltd

[Prism]

Hi everybody, my first post!

I found this forum whilst browsing money saving expert.

My claim management company is the above who are known as CYD Insurance Services Ltd and their latest trading name is Refresh Financial Solutions.

I paid them £500 and my mother paid them £2000 with the promise that they would buy our debts off us and clear our credit files. This was in June 2009. They then wrote to us stating that they would no longer buy our debts off us but the outcome would remain the same - debt free with clean credit file.

It was all very tempting and we got hooked in. They efficiently answered their phones everytime a debt collection agency got in touch until March 2010 when everything went dead and no phones were answered.

I have lodged a complaint with the ministry of justice who are frankly useless. I have also sent a recorded delivery letter asking for a refund as they are breaching their contract by not completing their service. I asked for a response within 7 days which I have not received. It has now been nearly a month!

During this interim period of sending the claim management company a letter, the Ministry of Justice have cancelled their authority to trade. They are still shown as active on companies house but have changed their registered address. I first thought that the new address was the liquidators but a google search revealed that they are trading under a new name at a new address selling different types of products!

What should I do next?

Should I stick in a letter to the new registered address? When I sent my letter, I sent it to the old address which was the valid one at the time on companies house. My letter has come back stating that the addressee has gone away and my mother's letter has not yet come back. Or, should I take them to a county court as I stated in my letter for breach of contract?

Any help is appreciated and I hope this thread assists people who are in a similar situation due this company.

For everybodies information, my stupididty of using this company has lead me to receive two CCJ's as the company went bust at the same time as my court proceedings which I did not respond to as they said they would on my behalf! I am fighting these judgements but will save that for another thread.

Many thanks

Prism

[TUTTSI]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Hi Prism

Wecome to Legal Beagles.

I found earlier this week that CYD has had their authorisation cancelled earlier this week. http://www.legalbeagles.info/forums/...ad.php?t=17680

If you have paid by credit card within the last 6 months you may still have some recourse. here is a link with some very helpfull advice
http://www.legalbeagles.info/forums/...ad.php?t=22309

Tuttsi

[Prism]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Hi Prism

Wecome to Legal Beagles.

I found earlier this week that CYD has had their authorisation cancelled earlier this week. http://www.legalbeagles.info/forums/...ad.php?t=17680

If you have paid by credit card within the last 6 months you may still have some recourse. here is a link with some very helpfull advice
http://www.legalbeagles.info/forums/...ad.php?t=22309

Tuttsi

Cheers Tuttsi for the welcome and info,

Unfortunately I paid by debit card about a year ago and my bank have not been very understanding so figure that court is my only option?

[TUTTSI]

Re: CYD UK Ltd / CYD Insurance Services Ltd

You may be too late for the court route as their authorisation was cancelled.

In any event read the link I have already given you as there may well be a way for your bank to refund you and also get in touch with the MOJ.

Out of interest when did you pay and your mother pay the sums of money to them?

Did they cold call you?

Did they offer you the world?

As the MOJ appear NOT to be proactive and helping the consumers and as they are a government body can I suggest a very strong letter to your MP and the Prime Minister with your concerns. FYI, the MOJ charge companies for their authorisation and then they charge that company another fee based on thier profits.

I get really upset when I hear cases like yours where you have been taken for a mug and no support from the very governement body (MOJ) who do nothing to help.

You may have to put this down to experience but you should do all you can to see what help you can glean from our government that lets this happen.

Tuttsi

Cheers Tuttsi for the welcome and info,

Unfortunately I paid by debit card about a year ago and my bank have not been very understanding so figure that court is my only option?

[Prism]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Hi Tuttsi,

Thanks again for your reply.

I know that the Moj have cancelled their authority but does that mean it is too late to take them to a county court for breach of contract? I mean they are still trading albeit selling different financial products but the same limited company and registration number.

We paid the claims management company in Jun 2009 and used a debit card.

They offered the world by buying our debts off us and clearing our credit files! Yes I was a mug and should have seen it coming but was desperate.

They initially cold called me and I signed up on the phone, which was a big mistake.

I shall lobby my local mp in due course but need to focus my energies on recouping my losses with CYD and getting myself out of my CCJ mess that they alleged was being dealt with by their inhouse solicitors!

You may be too late for the court route as their authorisation was cancelled.

In any event read the link I have already given you as there may well be a way for your bank to refund you and also get in touch with the MOJ.

Out of interest when did you pay and your mother pay the sums of money to them?

Did they cold call you?

Did they offer you the world?

As the MOJ appear NOT to be proactive and helping the consumers and as they are a government body can I suggest a very strong letter to your MP and the Prime Minister with your concerns. FYI, the MOJ charge companies for their authorisation and then they charge that company another fee based on thier profits.

I get really upset when I hear cases like yours where you have been taken for a mug and no support from the very governement body (MOJ) who do nothing to help.

You may have to put this down to experience but you should do all you can to see what help you can glean from our government that lets this happen.

Tuttsi

[Amethyst]

Re: CYD UK Ltd / CYD Insurance Services Ltd

They purchased your debts from you ?

What has happened with the creditors since 'transferring' your debts to this company ?
How is your credit file ?

If the company are still trading then yes you can sue them. It may be quite difficult. they might defend and you'd have the 'can companies buy consumer credit debts' argument, or, more likely, they will ignore the claim, getting you jugment in default then you'd be looking at a warrant of execution and basically bailiffs fees to go and get your money, if they can find them / they have any etc.

Have you spoken to the MOJ ?

[TUTTSI]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Sorry, one more question - you state that they have "in house solicitors" were they qualified solicitors or just a team of people acting under the banner of a legal dept with NO qualifications? Because they cannot purport to have in house solicitors who are not legally qualified.

Hi Tuttsi,

Thanks again for your reply.

I know that the Moj have cancelled their authority but does that mean it is too late to take them to a county court for breach of contract? I mean they are still trading albeit selling different financial products but the same limited company and registration number.

We paid the claims management company in Jun 2009 and used a debit card.

They offered the world by buying our debts off us and clearing our credit files! Yes I was a mug and should have seen it coming but was desperate.

They initially cold called me and I signed up on the phone, which was a big mistake.

I shall lobby my local mp in due course but need to focus my energies on recouping my losses with CYD and getting myself out of my CCJ mess that they alleged was being dealt with by their inhouse solicitors!

[Prism]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Hi Amethyst,

Thanks for your comments.

CYD offered to buy my debts but never did. They did write to me a few months after signing up with them stating that they will no longer buy them and the debts would remain with me but the outcome would be the same, debt free with clear credit file.

My credit file is showing defaults against the lenders who my claim management company represented me on.

The claims management appear to still be trading but with a new registered address and new trading name. I have already sent them a recorded letter asking them to finish the service or I will take them to a county court. They have not responded.

I now feel my only option to recover my losses is to go to court for breach of contract. What do you think?

With regards to MoJ, as stated in my earlier posts, I have complained to them and they are pretty useless. They have asked me to contact them again after 8 weeks of sending claims management company which sounds true but this polcy is also on the Moj website. Toothless tigers in my experience and the claims management company has also had its authority cancelled so I doubt if they will be able to do much.

They purchased your debts from you ?

What has happened with the creditors since 'transferring' your debts to this company ?
How is your credit file ?

If the company are still trading then yes you can sue them. It may be quite difficult. they might defend and you'd have the 'can companies buy consumer credit debts' argument, or, more likely, they will ignore the claim, getting you jugment in default then you'd be looking at a warrant of execution and basically bailiffs fees to go and get your money, if they can find them / they have any etc.

Have you spoken to the MOJ ?

------------------------------- merged -------------------------------
Hi Tuttsi

I have no idea who their inhouse solictors are and they have not been able to contact them to find out! On one correspondence they sent me via e-mail they told me that key2Law solicitors were representing me but I have contacted them and they have no record.

I supose to cover my losses I will have to go to court?

Sorry, one more question - you state that they have "in house solicitors" were they qualified solicitors or just a team of people acting under the banner of a legal dept with NO qualifications? Because they cannot purport to have in house solicitors who are not legally qualified.

[Amethyst]

Re: CYD UK Ltd / CYD Insurance Services Ltd

So what actually did the company do ? (or say they were doing once they werent buying the debts)

Were you told to stop making payments to your creditors or were you defaulting anyway ?


You have a copy of the contracts signed ?

[Prism]

Re: CYD UK Ltd / CYD Insurance Services Ltd

So what actually did the company do ? (or say they were doing once they werent buying the debts)

Were you told to stop making payments to your creditors or were you defaulting anyway ?


You have a copy of the contracts signed ?

Hi Amethyst

The claim management company said that they had audited my agreement and it was non enforceable and that I should stop all direct debits and send all correspondence I recieve to them. By now they sent me a generic letter stating that they no longer would be buying my debts but the outcoe would remaint he same. I carried on forwading all correspondence to them via fax / post kept on asking when I would be debt free and my credit file would be wiped and they fobbed me off and said that they were waiting for the MoJ! I was very naive. I only stopped payments on their advice.

I stupidly signed up on the phone and do not have a signed contract with them. What I do have is receipts and bank statements that they have taken payment and lots of generic letters with all their claims about being debt free and a few personal updates sent via post and e-mail stating they are working on my case with a solicitor. I foolishly communicated regularly with them on the telephone and that is how they informed me that I should stop my direct debits.

Believe me, this whole experience has been a strong learning curve with regards to having things in writing. I just saw no reason to doubt them as they were regulated by the MoJ (I now know they are useless) and they had many TV adverts so it all seemed genuine!

[Amethyst]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Ouch !

Okay - before you fight these CMC scum bags you need to get control over your finances back to you.

With the CCJ's looks like you are making a start. How many different creditors are there ? Any that havent gone to CCJ you need to get in touch with a set up repayment plans before you get any further CCJ's, the CCJ's we'll need a bit more info on - are they installment orders etc ? I assume they are just default judgments against you for not responding.

Possibly another thread on those or keep it here - but I think that has to be your priority - and first step is to write to all creditors rescinding your authority for Cyd to act on your behalf.

Were you defaulting on payments before CYD intervened ?

[Prism]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Ouch !

Okay - before you fight these CMC scum bags you need to get control over your finances back to you.

With the CCJ's looks like you are making a start. How many different creditors are there ? Any that havent gone to CCJ you need to get in touch with a set up repayment plans before you get any further CCJ's, the CCJ's we'll need a bit more info on - are they installment orders etc ? I assume they are just default judgments against you for not responding.

Possibly another thread on those or keep it here - but I think that has to be your priority - and first step is to write to all creditors rescinding your authority for Cyd to act on your behalf.

Were you defaulting on payments before CYD intervened ?

There are three creditors in total.

Two have gone to CCJ because I did not respond to the claim form and therefore are default judgements. I have cmpleted form N244 and asked for the judgements to be set aside. I have been succesful on one and awaiting for a response on the other. I will then contest them for having non enforceable agreements as I clearly recall them being requested via all the correspondence between the CMC and CYD. I feel I have nothing to lose in this regard.

With the third creditor, I have defaulted but I have sent a CCA request to them myself after getting information from MSE forum.

Me and my mother had not defaulted on anything before CYD intervened and we only stopped direct debits on their advice.

Thanks for lettingm e know that I shuold write to creditors stating that CYD is no longer representing me. This will be done tonight!

[Amethyst]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Okay. Be very careful with unenforceable cca claims.

You would be better advised to yes set aside the default judgments, but go in making an offer of repayment by installment on the legitimate debt owed, less any late payment charges (on loans and credit cards) defending that under penalty law.

I don't know how much reading you have done on unenforceable credit agreements so just tell me to butt out if you are up on the subject, but so far as I can see it you are on the back foot now and need to get the court and the creditors back on your side to try rescue your credit rating and stop the debts snowballing under interest and charges.

(and anything not defaulted just get payments set up again before it gets to that position)

[Amethyst]

Re: CYD UK Ltd / CYD Insurance Services Ltd

and I wish you could sue CYD for the damage this has caused to your, and your mothers?, credit ratings and the problems / stress this has and will cause ..... as well as getting those up front fee's back, but sadly I think in these kind of situations you are equally culpable - worth looking at tho.

Heres some (quite pointless) info. https://www.claimsregulation.gov.uk/...service%29.pdf

[Prism]

Re: CYD UK Ltd / CYD Insurance Services Ltd

Amethyst,

thanks for all of your advice so far.

Last night I sent a copy of the CCA's to a kind and knowledgable chap on MSE forum who confirmed that my CCA's are enforceable. I am absolutely gutted, more so because I was mislead by CYD who told me that it as not the case. I listened to them, trusted them and they then go and bugger off during my court proceedings and get the CCJ!

As mentioned aerlier I now have the judgement set aside and am back in court mid July.

Here is my next dilemna. Do I go back to court to setup a payment plan or settle out of court. Going back to court will result in the lender's solicitors adding their costs but do I still get the original 28 days to pay it so that the CCJ is removed. The reason I say this is that I have a family member who has just kindly agreed to lend me the amount needed.

If I settle out of court, then I don't think I will be able to get the CCJ removed as 28 days have passed since the original default judgement notice.

The other issue is that I want to recoup our costs from CYD from a county court. What are your thoughts on this as it is £2500 in total. They are still trading but not as a claims management company. If I do take them to court then would it be breach of contract. they promised the world and I may not have a written contract between us but I have lots of correspondence between us and generic letters too with their outrageous claims. The **** claimed my agreement was non enforeceable and lied to me!

Any advice is appreciated.