Premium Credit Ltd - who is this?

mrtaximan

I have two D/D with them to pay for my Taxi Insurance and my Accountants bill and have never had a problem.They are based in East Street Epsom Surrey.:D

RichBen

Lots of brokers use Premium Credit and they are a reputable company. What you have taken out is a credit agreement to pay your annual premium. This has nothing to do with your insurance policy, but they will ask the arranger of the credit (your broker) to cancel your policy if you default.

suzannah

Hi,
This question concerns Premium Credit Ltd, but regards commercial motor insurance.

Back in 2001, I started a haulage company, using my redundancy cash.
1st lot of insurance were bought through a broker, who has since been swallowed up by a larger concern.When i changed two vehicles the broker advised that the costs would be roughly similar to those i had been paying, however, when the agreement copy came back to me, the monthly repayments doubled,the original Figures, having been tippexed over!! and I refused to continue, as i couldnt afford to be ripped off.
The broker apolgised, and said he would sort it, but then "dissapeared" from that office.I was subsequently taken to court by Premium, for the annual amount, approX £3k.There is also interest acruing
I was subsequently broke, and had mental health problems , so avoided court, even when they attached the debt to my home.
I recently asked Premium to send me a copy of the agreement to start some kind of dialogue, and they sent me the tippexed copy, which it appears they used in court to obtain judgement against me.
Can you give me advise on how to fight this?
thanks

Suzannah

dunstonh

Can you give me advise on how to fight this?

bit late now isnt it? You should have gone to court at the time and put your side across. I doubt the courts would look at that decision again all these years later. So, burying your head in the sand is rarely a sensible option. Although many people do.

Sometimes with commercial contracts, you dont have the option to cancel mid term (or you can but you dont get a refund). So, your refusal to continue doesnt mean you could stop paying.

suzannah

I was suffering menatal health problems, so therefore was not in any state to get to court, or make any defence

dunstonh

suzannah wrote: »

I was suffering menatal health problems, so therefore was not in any state to get to court, or make any defence

did your solicitor or representative in court make the court aware or that?

Bakewell54

Re Premium Credit, I am also resurrecting an old thread!
<H3 style="MARGIN: auto 0cm">I used to have Halifax Pet Insurance which I paid by DD.

5/10/11 I had a letter from BDML Connect re my Halifax Pet Insurance Policy to say that Halifax 'was withdrawing from the pet insurance mkt'. 'We know it's important to you that *** is insured. That's why we (BDML Connect Limited) have agreed to provide you with a quote for alternative cover with Petwise. Your quote is enclosed etc.' Letter also headed with Halifax logo. Signed Mike Minahan.

I made no response in any way.

8/10/11 Letter from Premium Credit Limited to say 'Welcome to your running account (?) which has been arranged for you to pay the premium for your insurance with BDML Connect Ltd. Your credit agreement is enclosed.' The letter goes on 'You can sign your Premium Credit Agreement now online...If you would prefer to sign the enclosed paper agreement...[and MUCH lower down] In respect of your initial transaction we will collect monthly DD of £33.56 with effect from 2nd Nov 2011...We may begin collecting your instalments before you return your signed agreement, to pay for any insurance cover you are receiving.' Signed Premium Credit Limited.

I did not ask for this insurance/did not agree/did not sign. Today I find that £33.56 has been debited from my current account by Petwise Health Insurance which is underwritten by Axa on 2/11/11, 2/12/11 and 2/1/12. No coincidence that this occurred at the busiest time of the year when one's bank balance is far from typical and it would not have been picked up. I am furious with them and have reported this to BBC Radio 4.

</H3>What do wise ones think?

Bakewell54

:money:I advised NW at the same time as posting and have already been invited to obtain a Direct Debit Indemnity. I think that's good.

forgotmyname

All this hassle because you didnt contact them and say no thanks?

lozzam

I'm sure they are reputable but they are a scary company. I bought Axa insurance - paying monthly so in effect using a credit agreement. I have had two mails since then asking me to register on line so I can manage my credit agreement. I've already set up the direct debit so what else do they want from me? Asking me to click links and set up online credit management makes then seem like spam....