Help with a RCI PPI Claim No Signed Agreement

jj31

Hi I'm a first time poster and need some help!

THE BACKGROUND:

I bought a car in 2006 and I opted for finance with RCI. The application was made and finance approved and I picked the car on the first showroom visit. I then got a call from the call centre trying to sell me PPI; I declined the offer because my sickness benefit in work covered me (6 months full pay and 6 months half pay) and I have a pre existing illness. On returning to the showroom to sign and take the car the sales manager said I had to have PPI because of the 'special' interest rate I'd negotiated! So foolishly accepted the PPI because I felt I had to; even after explaining again that I had adequate cover and explaining that I have a pre existing problem, I again was told I needed to take the PPI otherwise my finance payments would be more a month without the special rate...

I signed the agreement for the car; within a 2 weeks it was returned to the dealership to resolve 3 different faults and they offered to swap for another car. 6 months later they sent me an updated credit agreement with the update of car and price (I paid a £500 extra to upgrade the car in the swap out) I refused to sign (because of incorrect figures) and they didn't sign the documents either. The finance has run to term and all been paid.

I have contacted RCI to query the PPI payments and after being told they have sold the products correctly sent my complaint to FOS. It's been with FOS for 9 months and not with an adjudicator yet. RCI and the dealership have been trying to locate the signed credit agreement for 9 months and obviously can't find it.

THE QUESTION:

Does the fact that there is no signed credit agreement mean that the agreement is unenforcable?

Has anyone know of a similar situation?

How long does it take for a PPI claim to go to the adjudicator?

Will the fact that there is no signed credit agreement go against me?

Many thanks for your time and assistance

di3004

jj31 wrote: »

Hi I'm a first time poster and need some help!

THE BACKGROUND:

I bought a car in 2006 and I opted for finance with RCI. The application was made and finance approved and I picked the car on the first showroom visit. I then got a call from the call centre trying to sell me PPI; I declined the offer because my sickness benefit in work covered me (6 months full pay and 6 months half pay) and I have a pre existing illness. On returning to the showroom to sign and take the car the sales manager said I had to have PPI because of the 'special' interest rate I'd negotiated! So foolishly accepted the PPI because I felt I had to; even after explaining again that I had adequate cover and explaining that I have a pre existing problem, I again was told I needed to take the PPI otherwise my finance payments would be more a month without the special rate...

I signed the agreement for the car; within a 2 weeks it was returned to the dealership to resolve 3 different faults and they offered to swap for another car. 6 months later they sent me an updated credit agreement with the update of car and price (I paid a £500 extra to upgrade the car in the swap out) I refused to sign (because of incorrect figures) and they didn't sign the documents either. The finance has run to term and all been paid.

I have contacted RCI to query the PPI payments and after being told they have sold the products correctly sent my complaint to FOS. It's been with FOS for 9 months and not with an adjudicator yet. RCI and the dealership have been trying to locate the signed credit agreement for 9 months and obviously can't find it.

THE QUESTION:

Does the fact that there is no signed credit agreement mean that the agreement is unenforcable?

Has anyone know of a similar situation?

How long does it take for a PPI claim to go to the adjudicator?

Will the fact that there is no signed credit agreement go against me?

Many thanks for your time and assistance

Hi and welcome.

I am unsure of the unenforceable matter but maybe someone will know more on the loan thread here;
http://forums.moneysavingexpert.com/forumdisplay.php?f=12

Maybe someone will have the answers and been through something similar on that thread as posted above.

Its difficult to predict a timescale, because it can depend if the case becomes complexed or not, and if resolved at the adjudicating stage, sometimes they are passed on to the ombudsman if a mutual agreement settlement is not made at the first stage.

I would say the longest time though is actually waiting for the case to be passed on to an adjudicator, but they do try to get it passed on within the first 6 months, and if straight forward after that your talking approx 8 weeks and in the worse scenerio about 18 months, but again it can be difficult to say.

Hope your not waiting too long, but if your in any financial hardship, such as maybe for example arrears on a mortgage where threats of repossession and so on let them know in order for them to consider fast tracking - this though can still take some time.

By not having the agreement should not go against you.

Hope this helps, good luck.:)

dunstonh

Does the fact that there is no signed credit agreement mean that the agreement is unenforcable?

No.

How long does it take for a PPI claim to go to the adjudicator?

1 month to 18 months. 6 months more typical.

Will the fact that there is no signed credit agreement go against me?

doesnt go against anyone