Asda / Panacea car insurance problems

willowbee_2

Having some issues with Asda / Panacea car insurance.

Last month they tried to debit my account on the 16th Feb and then again 2 days later for the monthly premium. This was an oversight on our part and they "kindly" wriped off one of the late payment charges of £20.00.

However, when i checked my account yesterday, they have tried to take £63.91 instead of the premium of £53.91. This has rejected as there was only £61.00 in my account.

I contacted them about this and they have said that it is because we did not send the signed agreement back so there is a £10 levy.

However, we DID send the signed agreement back, although we sent it to Asda insurance in error (surely Asda should have forwarded this on or returned to us?).

I have replied to Panacea and said that this is the first we have heard about the signed agreement and that they are in breach of the Direct Debit Guarantee as they did not notify us that they would be debitting a different amount.

I have also asked for confirmation that there will be NO late charge and that they will refund my bank charges. Not heard anything back. I have also stated that I am happy to pay the £53.91 (monthly premium) but no more than that. I have also informed them that I have cancelled my Direct Debit to prevent them trying to take the wrong amount again as we have money going in today that is earmarked for other stuff coming out.

I have not had answer to this from them and have chased them up.

Is there anything more I can do?
Am I in the right here?

Please help, I am fighting them and Hoseasons at the moment (as well as trying to get a payment in for my partners business) and just about ready to crack!

Thank you

willowbee_2

Update:
They have replied saying that their charges are detailed in welcome letter and that serves as notification under the direct debit guarantee.
They are trying to charge £10 for not sending back the signed agreement (although we sent this to Asda and not the finance company in error)
£20 for late payment.

Can they do this? Are they right about the notification?

They have said
I would also like to clarify that the letter outlining our charges also acts as the 7 day notice period that we must provide as our clients receive the letter roughly 6 weeks before the payment is due.

and in a later email

We are aware that you have received our welcome letter that advises you of any charges that will need to be incurred along with any requirements from our clients including returning the credit agreement to ourselves within 14 days of its date. This letter explains that if you do not return the agreement that a charge of £10 will be added giving far more notice than the required 7 days.

We took out the insurance 01/02/11 (so did receive the letter approx 6 weeks ago).

Are they right? I was under the belief that they had to notify you the EXACT amount they would be taking and the date.

Please can someone help me with this as they are starting to get quite nasty.

Please please please...

vusys1

did you agree to Telephone Sign UP? (account details given over the phone with no need for forms etc)

If you did not return the signed agreement ( I assume this is the direct debit mandate) they should have not been able to debit your account.

you should have a credit agreement detailing your payments and dates etc. as per FSA requirements.

I would check for any other small print as some companys include that they may adjust your payments etc.

Hippychick2007

Same here, agreement form sent back after completing online via Asda and £10 charge taken out on first DD after me paying a whopper £113 deposit!

I left Direct Line for cheaper car ins, this is where these companies get you.

I had sent an email yesterday to their customer service, but after reading your problems with them I am going to get all my paperwork out and read through my facts!!

I hate these companies!! Grrrrrr

neilm2765

Having similar problems, moved to get cheaper insurance and then the problems started. Asda needed my license front paper copy and back, don't know why, the back of all licenses are the same, then my wife's too. He license was in her maiden name, so when it was changed they wanted the marriage certificate, that was the last straw after 10 emails and letters demanding this information and them cancelling it twice.

This was a month ago, now i check my bank and low and behold, Panacea has taken out a premium for a policy I cancelled a month ago, I will now be getting on to them if not I’ll be getting on to FSA.

crunch34

I am having same problems with Panacea Finance, just been away on holiday but made sure I put £60 in my account to cover the the monthly cost. They tried to take £66 pound out instead of the £56 agreed to then tried to take £86.

I now have 2 bank charges as well as the finance cost and they say my bill has now gone up to £116.

Cheap Insurance who they kidding?

I phoned them today and asked why they tried taking an extra £10 and they said they hadn't received my signed paperwork through and it was automatically charged without warning?

The thing is I sent my paperwork signed back to them as soon as I received it and told them this, they then said it was my fault I hadn't contacted them to make sure they had received it?

Surely they can't get away with this? Can they try and take any amount out of my account? :mad:

jpmuluba

I am going through the same problem with this Panacea finance Ltd. Signed and returned the contract days before the first instalment, but I was surprised to received a failed DD of £264.58 instead of £254.58 which was ready in the account to cover the payment. The £10 is for no return of the contract which I did returned to them in their own envelope they provided. Because I did not pay £264.58, I am charged £20 the next week making £284.58 to pay. Not having paid £284.58, I am charged another £20 making in total £304.58.
-02/04: £264.58 instead of £254.58
-09/04:£264:58+£20 charge= £284.58
For no payment of £284.54, £20 charge = £304.58

Is this possible in the UK? This company need to be stopped for divicing a scheme to rip people off with the argument of no returning the contract to them.

I need advice please.:mad::mad::mad:

Sue750

I went on a compare site for car insurance 9th July 2012, Asda was the cheepest, I paid 87.34 deposit on the 9th of July, on the 23rd of July Panacea Finance took 30.77 out of my account, on 22nd August 40.71 was taken by Panacea, 24th of September 42.37 and 1st of October 62.37 was taken by DD, how can they do this, i have never had an insurance company take different amounts every month, they have always told me what i will be paying monthly, Panacea Finance seems to be taking what ever they want to take, what can I do about this?

Ellen_Field

I been through the same problem, after paying different amounts every month and though my quotation was £46 a month I have paid even up to £86, not counting the several bank charges... they cancelled my insurance over the weekend, though I have contacted them with new address and said that I was not receiving my post at the old address any longer...

They tried more them they were supposed to and is was returned, furthermore they cancelled my policy after 7 days notice ( letter sent to old address) and when I called them to complain, they said that i would have to pay deposit for a new policy if i was to continue with them, but this had to be done through asda, contacted asda with the problem and they said that it had nothing to do with them as all finances was resolved by their finance provider.

But i don't remember buying anything off panacea finance, my contract was with asda on the first place, why do i have to deal with a third party company, with numbers very expansive to call and a company that never reply to their emails and never receive their post, even the post sent with their own provided envelop ????

Not happy, very not happy

its gonna have to be watch dog and I’ll be getting on to FSA also.