Help

[Mitchie]

I bought a car from Yes Car Credit (London) in 2003, I am currently having a lot of problems trying to claim back the PPI, which I had no choice in taking out at the time, despite being in full time employment which would have paid full sick pay for up to six month, enabling me to continue ith my payments in the case if illness, therefore the PPI was not needed. However I was told by the salesman that I had to pay for it anyway or they'd refuse the loan.

Unfortunately after repaying the loan, the papers were destroyed and I cannot currently find any paperwork or agreement details. I have attemped on numerious ocassions to obtains some details without success. Is there anywhere I can find the agreement number etc or is there anyway I can reclaim the PPI without the agreement details? Also who would I be claiming against, as I understand that Direct Auto and Yes Car are both now busted? I have been told by some agencies that there is nothing I can do without the agreement and probably not against Direct Auto Fianance. I cannot seem to find any contact details for Direct Auto on the internet, so am at a bit of a loss. I would really appreciate any help you are able to offer.

Kind Regards

[di30]

Re: Help

Hi there
These days when these types of business go down under/bust, you can usually make a reclaim through the Financial compensation scheme (FSCS), however, this depends on if the business who arranged the policy were regulated by the FSA at the time you taken it out.

Failing that, you can contact the Financial ombudsman service (FOS) and explain the position of the business no longer active and you are unsure if they were regulated, and ask of the best next avenue to take.
Usually they suggest the underwriter/insurer of the policy.

What you could do first is contact the FOS, and they will be able to check if any of those businesses are active, and if so you can write to ask for the copy of the ppi policy documentation free of charge in the post, the lender should send you this on request.
You could otherwise ask the FOS on your behalf to try to find out who the underwriter/insurer were.

You can try tracking down the account number by checking old bank statements, of where you paid for the monthly payments, if your still with the same bank now, they may check this out for you by calling into the local branch, and may also go back quite a few years with some.

We can post up a SAR for you if you require this, this is a full request for copies of the documentation of the account, where you enclose £10 cheque or postal order, they have up to 40 calendar days to comply, but I would maybe contact the FOS first and ask if they know if any of the businesses are still active, and either one of them can provide you with SAR data of the loan.

Hope that helps, let us know and we can take it from there, good luck.