Finance agreement for Insurance settled early

ging84

I expect this loans section of forum is the best place for this since it is about a finance agreement not the insurance it's self

I have just had a dispute with premium credit over a £10 charge they took from my account without my permission for not returning a signed credit agreement, I have used this insurer for years and their monthly payments finance which has been with the same company, and i've never had to send any paperwork directly to them, and as far as i know i've never been charged ( i will be checking though)

The guy on the phone was rather unhelpful, i would not sign the agreement unless that money was refunded, and he would not refund the money unless i signed the agreement and would not give me a definate answer on if it would be refund. He said if i did not sign the agreement he would contact the insurer to cancel my insurance.

I settled the balance with the insurer and have now cancelled my direct debit
Initially i thought that the settlement quote i was given was reasonable
the insurance for £560 taken out around 2 months ago, my monthly payment were around £70 and the settlement was around £430, meaning i would have paid around £10 in interest.
But i have now discovered that they took 2 payments in the first month, which means i've given them over £80 in just over 2 months interest (plus the £10 they effectively stole)

Given that i did not sign any credit agreement and as the guy tells me I "was not covered by consumer credit act" can i potentially reclaim some of the interest i paid?

Tixy

I am not clear if you are still with the same insurer but paid them a lump sum or if you cancelled the insurance with that company altogether.

You probably need to get a detailed statement from the credit provider and from the insurer to understand who charged you for what. And compare that to the terms you agreed when you bought the insurance (how was the insurance bought)?

ging84

i've kept the insurance and paid it with a lump sum

the insurance was bought over the phone through a broker