Close Premium Finance

Morpheuz

Took out insurance with vine cover, the usual proceedings, with caution after being stung and having a row with Right Choice Insurance Brokers, vine cover set up a direct debit every month asking for 250 quid, no biggie.


Today, got mail, from a loan company called Close Premium Finance. Somehow they have the card details and are talking about loans I have asked for and such to do with the insurance payments... How can that be when the first and only one I owe at the moment has been paid? I was told over the phone I was to pay no more than what vine cover had stated. Yet here we are some company demanding a loan agreement.


It says customers must be the insured, and their listed customer is the card holder, which is not me the insured, its a friend. Who only went on the phone to agree my use of the card. Nothing about any loans and what not to any of us..


Is this something to worry about or is this the actual payments every month they are talking about? And their interest is in with the insurance and I'll still be paying 250 a month? I really have no idea what they are on about as its all new to me, and every corner I turn there is another sneaky plan coming through the post.


Advice is greatly appreciated.

[Deleted User]

If you are making monthly payments then Close Finance will have paid your premium for you then you pay them back. They financed my car insurance too. I would imagine most insurance companies don't actually offer their own in house finance.

Enemy_2

I'd suggest calling Close Premium Finance (0870 990 7967) to ensure the details they hold are accurate. They will act upon the information they received from your insurance broker and it sounds like they believe your friend has entered into a credit agreement with them, not you.

Essentially CPF will have paid for your insurance in full, and expect that full amount be paid back to them (plus interest), similar to as if you paid for it by a credit card.

Hopefully the matter has been resolved by now, but if still stuck you could email complaints@closepf.com if calling didn't help. Bear in mind that complaint teams tend to be more thorough in investigations, but will also take far longer as a result, hence it is worth calling them up via normal channels in the first instance (I work in the industry).

poppasmurf_bewdley

Enemy wrote: »

I'd suggest calling Close Premium Finance (0870 990 7967) to ensure the details they hold are accurate. They will act upon the information they received from your insurance broker and it sounds like they believe your friend has entered into a credit agreement with them, not you.

Don't use this premium rate number. Try 020 8786 2500 (from the Say No To 0870 website) instead.