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Cancelled policy payment
Spook241
Posts: 2 Newbie
I cancelled my car insurance policy a year ago. Today I have received a letter to say that the premium refund from my insurer wasn't enough to cover the remaining balance of my installment agreement and must now pay them money within seven days.
Can they request money off me after all this time?
And should I have received a breakdown of payments so I know where they have got the figure they want me to pay?
It's rather frustrating because back then they still took another payment even after the policy was cancelled and I never got a refund for that.
Can they request money off me after all this time?
And should I have received a breakdown of payments so I know where they have got the figure they want me to pay?
It's rather frustrating because back then they still took another payment even after the policy was cancelled and I never got a refund for that.
0
Comments
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Ask them how they calculate the balance due.
Yes it can be chased after a year.0 -
Today I have received a letter to say that the premium refund from my insurer wasn't enough to cover the remaining balance of my installment agreement and must now pay them money within seven days.
That is very common. The credit agreement payments often do not match the premium cancellation amounts.Can they request money off me after all this time?
It isnt statute barred, so yes they can.And should I have received a breakdown of payments so I know where they have got the figure they want me to pay?
No. However, you can ask them if they will provide it.
That should be factored into what is owed.It's rather frustrating because back then they still took another payment even after the policy was cancelled and I never got a refund for that.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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