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Close Premium Finance - Not very helpful!
This is part warning to others, part asking some advice....
I insured my new Motorbike through Bennetts, who are a broker. I opted to pay by installments as I always have through my Car Insurance.
Now, my Car insurance has always been with Direct Line, so this is the first time I have dealt with a broker!
It seems they outsource the monthly payments to a company called "Close Premium Finance". My first payment was due today and it came out at £43.12 rather than £33.12. I immediately called Bennetts to be told of this finance company and that I would have to speak to them. In trying to get through to them I had the phone put down on me without a word spoken twice, but eventually was told this was because I had not returned a signed agreement to them, so they were charging me £10.
Firstly, I have not been sent a signed agreement, indeed I'd never heard of them until Bennetts told me to call them.
Secondly, if it is an agreement that requires a signature, then the whole thing is invalid and baseless as I haven't signed. If it doesn't require a signature then this is just them trying to find ways to load charges on. Although, I don't see how they can load charges without an agreement....
Right now, I want no more dealings with them and wish to pay my insurance as a lump sum by credit card.
Bennetts apparantly cannot take payment from me and do not know how much I owe as they have no dealings with it, they have requested a settlement figure from CPF.
I have cancelled and reclaimed the Direct Debit from Barclays under the DD G'tee on the basis that the amount taken differed from the amount I was informed of, and made offer of payment to Bennetts of the £290.52 due to them, which they will not accept right now as there is no outstanding balance on the policy.
Am I right in my assessment that as they are saying this is a signed agreement, they cannot charge me interest or charges or register a default against me without a signature? I'm fully intending to pay for my insurance but do not wish to pay charges/interest to CPF after the way they have annoyed me!
I'm perfectly willing to make complaints with the ombudsman/FSA if they try to be awkward about it, but want to make sure I actually have a leg to stand on....
I insured my new Motorbike through Bennetts, who are a broker. I opted to pay by installments as I always have through my Car Insurance.
Now, my Car insurance has always been with Direct Line, so this is the first time I have dealt with a broker!
It seems they outsource the monthly payments to a company called "Close Premium Finance". My first payment was due today and it came out at £43.12 rather than £33.12. I immediately called Bennetts to be told of this finance company and that I would have to speak to them. In trying to get through to them I had the phone put down on me without a word spoken twice, but eventually was told this was because I had not returned a signed agreement to them, so they were charging me £10.
Firstly, I have not been sent a signed agreement, indeed I'd never heard of them until Bennetts told me to call them.
Secondly, if it is an agreement that requires a signature, then the whole thing is invalid and baseless as I haven't signed. If it doesn't require a signature then this is just them trying to find ways to load charges on. Although, I don't see how they can load charges without an agreement....
Right now, I want no more dealings with them and wish to pay my insurance as a lump sum by credit card.
Bennetts apparantly cannot take payment from me and do not know how much I owe as they have no dealings with it, they have requested a settlement figure from CPF.
I have cancelled and reclaimed the Direct Debit from Barclays under the DD G'tee on the basis that the amount taken differed from the amount I was informed of, and made offer of payment to Bennetts of the £290.52 due to them, which they will not accept right now as there is no outstanding balance on the policy.
Am I right in my assessment that as they are saying this is a signed agreement, they cannot charge me interest or charges or register a default against me without a signature? I'm fully intending to pay for my insurance but do not wish to pay charges/interest to CPF after the way they have annoyed me!
I'm perfectly willing to make complaints with the ombudsman/FSA if they try to be awkward about it, but want to make sure I actually have a leg to stand on....
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Comments
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I had a problem today with this company.My first dd was due on 8th ,i transfered the money into the account on the 8th thinking it would be the close of day when it would clear.
I now find it should have been there at midnight on the 7th as they take it 1st thing in morning.
I told them that it was a missunderstanding and of course now i know that i will make sure it is there in time in future.
I said as i did put it in that day and can prove it with a bank statement would they waver the £30.00 fee as it really was a missunderstanding being the 1st payment.
Th lady was not understanding at all and her tone was rather upsetting to me .
I will never use this company again.
Why do they have to be so greedy.
Maz .0 -
BE carefull that they dont cancel your policy, if they do it will get nasty0
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mazalaz - when it is requested at midnite that is ur bank taking it. iv had many experiences like this and the bank always confirm this is the case sometimes they say its not but its mostly to save themselves an argument, when a company try to take funds they send the instruction with the collected date on it. it is ur bank that process direct debits and opt to collect it from midnite onwards. whether ur bank release the funds is also down to ur bank
rtho782 - it is by law ur brokers responsibility to inform you of the next steps i.e that you will be paying the monthly instalments of 'x amount' to this company 'close premium finance' under the new ccd regulations they HAVE to inform you of this so this is a breach of ur brokers behalf, ur broker is also aware of any documents that needs to be returned
also a lot of companys these days dont HAVE to have a signed agreement it just enforces the ts and cs
honestly if u went thru complaints or fsa the most u wld get is the £10 as a goodwill guesture that is all as they havnt done anything wrong it is ur broker that has breached the ccd regs0 -
I too have insurance via bennits for a motorcycle with this company, paid by installments, they did send me the DD information and i just looked to see when the payments would go out so i could make sure the money would be available but in amongst the several pages they sent, there was a request for me to return a page that needed a signature but as it was around page 7 of 8 pages i never even saw it and ence they tryed to take more out of my account than was agreed (£10) and as the account i use for the DD only ever as enough to pay the DDs that month it got returned and i got a further charge from my bank (£25) for a returned DD lol i did how ever get close premium finance to drop there fee after a large telephone call and a letter from the bqank saying there was enough to cover the fee at the time off the DD. now for the not so good dealings with the company, i recently took car insurance via confused dot com and it turns out to be via them again lol so this time i find the page and send it forth witth and happy in the nolage i have done everything right this time, i sit back and relax then about a week after the first DD is due i get a letter saying the DD had been returned unpaid and they now want me to pay an extra (£30) admin fee ontop of that months insurance within 14 days, the problem is there was enough money in the bank to cover the payment but close premium finance neglected to send a paper mandat to my bank witch give the bank permission to allow monies to be paid via DD and just requested money lol so my bank couldnt pay. i have had the bank speak to close premium finance saying that the fault lays with them because they didnt sent the paper mandat and in ther oppinon i shouldnt have to pay, but guess what ? close premium are having none of it and i have to pay or the policy gets canceld lol they are not help full in any way,0
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