Insurance company went bust
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Gbp
Posts: 3 Newbie
Good evening.
My insurance company went bust ( Alpha insurance).I was paying 223 a mont for my taxi insurance. Om the 7th they charged me 223 and on the 8th tjey went bust.
My broker told me that I need to find a new insurer. They found one for 286 a month.
So, on the 8th I have called my bank to cancel the direct debits for my bankrupt company, and I told them to get my 223 back which I have paid for no reason.
They did. But one month later, the credit company rrjected the DD indemnity, so the bank gave them again 223 back.
The bottom line is that I ended up paying over 500 pounds in a month. The broker say I also owe them 450 pounds frim my previous policy.
What is there to do? I have paid everything on time, according to my payment schedule , for 8 months.
Now once of a sudden, I owe everybody money for a policy that does not exist anymore.
Also the finance company supplied my bank with a copy of an agrrement which has a fake signature in the customer box. It is not my signature.
Thank you in advance
My insurance company went bust ( Alpha insurance).I was paying 223 a mont for my taxi insurance. Om the 7th they charged me 223 and on the 8th tjey went bust.
My broker told me that I need to find a new insurer. They found one for 286 a month.
So, on the 8th I have called my bank to cancel the direct debits for my bankrupt company, and I told them to get my 223 back which I have paid for no reason.
They did. But one month later, the credit company rrjected the DD indemnity, so the bank gave them again 223 back.
The bottom line is that I ended up paying over 500 pounds in a month. The broker say I also owe them 450 pounds frim my previous policy.
What is there to do? I have paid everything on time, according to my payment schedule , for 8 months.
Now once of a sudden, I owe everybody money for a policy that does not exist anymore.
Also the finance company supplied my bank with a copy of an agrrement which has a fake signature in the customer box. It is not my signature.
Thank you in advance
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Comments
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You dont need to sign an agreement for it to be enforceable.
Your paying in installments so there is a chance that you owe more than you have actually paid at some point. Is that why they gave the money back?
Without all the figures, they maybe right.Censorship Reigns Supreme in Troll City...0 -
Thank you for your advice. Have a good evening!0
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Just one more thing. Is it correct that I have to pay back the full amount that I agreed to at the beginning of the policy, +interest, even if my policy was cancelled 5 months before the end of the term? Also, I only had 3 instalments left, from 10 installments owed at the beginning ( for a 12 months policy)
So basicaly I will end up keeping my part of the deal and pay the whole sum, and they only managed to keep me insured for 7 months instead of 12, as originally promised.
It all seems not correct to me.
Thank you.0 -
You're not paying Alpha monthly you're paying a finance company who loaned you the money which they paid to Alpha via a broker.
You'll probably be with either Close Brothers or Premium credit.
Think of it like if you bought a car on a loan from the bank, Just because you've lost the car doesn't mean you've the lost the loan you'll need to continue to pay the loan until the FSCS can issue refunds to customers but you may still be out of pocket.Save £12k in 2019 -0
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