unsigned credit agreement

cowboy99

Hi all,
I'm new here, this is my first post.
Looking for some advice.
I had a credit agreement posted to me that i didn't want.
So obviously i didn't sign and return. However they still took the money from my account. Are they allowed to do this?

Thanks in advance.

Equaliser123

cowboy99 wrote: »

Hi all,
I'm new here, this is my first post.
Looking for some advice.
I had a credit agreement posted to me that i didn't want.
So obviously i didn't sign and return. However they still took the money from my account. Are they allowed to do this?

Thanks in advance.

I would suggest there is more to this.

How did they get your bank details? What was the credit agreement for? If goods, do you have possession? If yes, how did you pay if not on credit.

cowboy99

yes there is more to this, sorry.
it's from my car insurance auto renewal.
I didnt cancel my insurance as i didnt realise it auto renewed.
It is my own fault for not reading the letters they sent me.
I was just curious as to why the credit company snet me a credit agreement to sign and return, which i didnt, yet they still took the money.
I thought they would have to wait for my signature?

bod1467

The auto-renewal will already have been setup. Check the letter that came with it ... it will probably say something like "If you're happy to renew per the details supplied then you don't need to do anything".

The credit forms will likely be a standard package that they send out with all renewals.

ILW

they may not be able to hold you to the credit agreement, but you would have to find another way of paying for the policy.

dacouch

Send them proof of your concurrent insurance along with a polite letter requesting the policy be lapsed from renewal as it was not required.

They will normally delete the premium and just retain their cancellation charge, they may even waive the cancellation fee if your polite and lucky

bris

You can cancel within 14 days of the policy start date, if you chose to cancel within this time they will charge you for the time you had the policy (no more than 14 days) and a cancellation fee, normally around £25.

cowboy99

Thanks for all the replies,
I have cancelled the policy, they didnt charge me to cancel.
Was more curious about the unsigned credit agreement.
I signed it the previous year for a 10 month term.
I'll take the hit this year and learn from my mistakes for next year.