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Motor care warranty Company failure creates worries for consumers

By Jack Paul Subscribe to RSS | February 15th 2012 | Views:
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An investigative agency has come to result that some schemes traded by Motor care Elite were not authorized by underwriters. The Llantwit Major-based company was established by Harby Panesar, who emerged on TV when they expensed an accounted 20,000 pound on the pleasure occasion. The agency intimates that the Motor care Elite traded the car crash policies to car dealers who vended them to the clients.

The firm stated they were funded by insurance underwriters, but after the company’s failure it appeared that a number of schemes were not sponsored by the insurance and were valueless. The FSA has notified publicly that if a consumer has taken insurance from Motor care Elite, he or she may be provided with such policies that have termed as of no value. The information what they have got advocates that when Motor care vended some schemes to its consumers, it may get botched to accurately index their particulars and premiums.

Another investigation done by a watchdog has got that the firm appeared to get made up the details of insurance underwriters. Some schemes were supported by a firm named Marine and General Insurance Company Ltd located in the city of London. But the researchers could get no outline of the firm.

Adrian Reynolds, a citizen, was a sufferer of the failure of Motor care, buying a scheme of 700 pound for his Nissan truck purchased at public sale. When he attempted to argue for the compensation valued about 1300 pound, he got that the Alpha insurance has no any data of the premiums what he had paid for. The company said that they had never come across such policies by his name. Are you in need cash for your car then simply apply with quick payday loans @ http://www.quickcashpaydayloansuk.co.uk/ and get fast money without any hassle in quick succession of time.

When the firm failed in the month of March, he was asked that the data displayed his assert had previously been compensated. Mr. Rafferty said the agency that the incident made him so angry to think that the firm has some employees there who take earnest money from the middle class people who do their work round the clock. Alpha insurance informed that they had proof that the company directed claims that, at the same time as noticeable as paid in their improved data, are said to be stupendous by the applicants. Motor care is now in bankruptcy and Mr. Panesar has been affirmed insolvent.

Jack Paul - About Author:
Jack Paul is financial advisor and shares his best views on quick payday loans, instant payday loans and guaranteed payday loans.

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