hi i took up insurance of a bike i saw on ebay because the guy "found me a really good deal." he said that i could always cancel it at another date but the deal wouldn't hold. anyway i never bought the vehicle in the end and tried to cancel the insurance by post the same week. they must have ignored my letter because i never had any responce. i have canceled my direct-debit so they can get no more money from me and have since moved house (new job). i phoned to cancel and they said that i had to pay a £40 cancellation fee and now i have a demand for £70? i was never informed of this £40 cancellation fee, infact i was told that it would be easy to cancel the insurance if i didn't get the bike so i am not happy with them. they have threatned me with debt collectors by letter to the old house. they dont have my new address but do have my phone number and email and some bank details. my question is should i pay them? is the sum of money so small that they would not be-able to sell my debt over ot a collector? i had an experience with a housing agentcy who tried to demand money from me and i managed to get out of that so why not this too? or could this £70 snowball into something much bigger if i don't pay?
what's the small print say.you could try to bargin down to a smaller fiqure if they do get it in writing and have them sign a letter they won't report to cra's
I am not understanding your problem . Are you in the UK? Is the ebay UK? As for insurance what do you mean, a I believe it is a different meaning in UK than it is here in US. If you bid on something on ebay and canceled before the end of the auction then there is no problem. If you bid and won the item on ebay and then tried to get out of it, YES you are bound by the sale, HOWEVER nothing is going to be one about it. If however you have done this three times (did not pay for the item and or changed your mind) then ebay will kick you off and you will not be able to bid anymore. As far as this non payment going to a collection agency I sincerely doubt it. Woofer
how would costs snowball, in what order, and would i be informed about each increment before it happened? or would a letter just turn up one day saying that i owe a collection agency £500 for their "services" and i had to pay? im thinking about leaving it to see what will happen because i don't thing its justified. cheers
You could always pay the debt but dispute it with the company. If they find in your favor they will credit it back to you. That way you avoid a collection being added to the credit report.
