C&CC direct debit Insurance

May 20, 2005
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I have just renewed my caravan insurance with C&CC I have recieved the Direct Debit mandate to sign and return, it is unlike any I have seen before looks like I am signing up to a running account with a credit limit of £1,500. My insurance is only £118.57p I can not make head nor tail out of all the argon, Has any one else received this when renewing their Camping and Caravaning club insurance, and is it ok.
 
Mar 14, 2005
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Hello Paul,

If you dont understand the terms of an offer, ask the supplier for clarification. Simply reliying on the views of other respondants you easily may overlook an important issue, alternatively ask the CAB.
 
Mar 14, 2005
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Paul - I do not like the sound of this. A DDM is a simple thing to set up and as far as I am aware they do not state what you indicate.

Sounds more like a Credit Agreement to me.

Good advice re the CAB from John but the opening hours can be difficult. May be a good idea to pop into your Bank/Building Society/IFA and ask for a quick assessment.

Certainly worth checking with the CC&C as well.
 
Jul 12, 2005
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Ahhh

Got stung with one of these last year. when renal time comes about they just continue to draw money from your account. My car insurance went up by 30% and although I had informed the insurnce company I had moved to another company, the credit company still collected the premiums.

Only got it sorted after starting a small claims court action to recover the costs!

Be carful using this type of service

Steve
 
Mar 14, 2005
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There you have it Paul - Steve confirms it is a credit agreement not a DDM. From Steves experience I would contact the CC&C and tell them if they want your business you will do it by DDM only.

If they will not comply go somewhere else.
 
May 20, 2005
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Went to the Bank they informed me it is because insurance now comes under the FSA and they have to set it out this way as the defered payment is a loan. Thanks for the advise.
 
Mar 14, 2005
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Hi again Paul

Not sure I would accept that as if true it is the death of the DDM.

Also if it is a loan firstly it must have been made clear that it was on the application - i.e. APR quoted - penalties for stopping/early repayment etc.

Finally the APR can be horrendous on staggered payments for insurance - usually better to arrange a short term overdraft facility with your bank or possibly use a Credit Card which has a good introductory offer APR.
 

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