yes car credit and ppi

clomist

In 2003 I took out a loan with yes car credit which was paid off in 2007. Looking at the paper work it appears that I paid nearly £1000 in ppi plus mecanical breakdown insurance. It also looks like yes car credit has folded. Does anyone know if I can still claim against being sold ppi?
Thanks

di3004

clomist wrote: »

In 2003 I took out a loan with yes car credit which was paid off in 2007. Looking at the paper work it appears that I paid nearly £1000 in ppi plus mecanical breakdown insurance. It also looks like yes car credit has folded. Does anyone know if I can still claim against being sold ppi?
Thanks

Hi and welcome.

I take it you were not aware of the ppi until recently whilst looking through the paperwork then?

Was it actually sold and set up by Yes Car Credit?
If so your correct in pursuing these, because whoever set up the policy is the ones you do go through.

If they are no longer active, check if there are listed with the Financial compensation scheme (FSCS), if they are not then contact the Financial ombudsman service (FOS) and ask on the best action to take from here.
The FOS normally suggest taking it the insurer/underwriter direction, as they have done for many in the same situation.

I would double check to make sure the business are no longer running first, and take the following steps if they are not.

FSCS
http://www.fscs.org.uk/contact-us/

FOS
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck and please keep us posted.;)

di3004

I have just checked the business and according to checking on Companies House Company search, they are still currently active......
so if you have any paperwork, check it against these details below, the company number for one, so if this matches, then its the correct company, just in case there are a few on the go.

Name & Registered Office:
YES CAR CREDIT LIMITED
COLONNADE
SUNBRIDGE ROAD
BRADFORD
WEST YORKSHIRE
BD1 2LQ
Company No. 03459042


Status: Active

di3004

If these are the correct ones, then pursue them by completing the FOS questionnaire, these are in replacement of the first template letter.
Remember to keep a copy back as well, in case you need to refer to it later on.

They have 8 weeks in full to respond, sometimes they ask for more time, that is fine.
Try to get proof of posting at your post office if you can.

The FOS questionnaire, on link added below, further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope this helps, good luck.;)