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What please is the ‘Credit Hire Racket’? What frightened me was that VC had, apparently received a written assurance from his Insurance that all was ‘done and dusted.’
Asked on 7 August 2010 by HR, Hampton
Answered by
Honest John
The ‘racket’ is where an 'Accident Management Company' steps in, puts you into an ‘equivalent' hire car at a very high rental, then delays the repair of your car so you are in the expensive hire car for weeks, maybe months, having signed a form that makes you liable for the rental if it cannot be extracted from the insurer of the 3rd party who did the damage. The record rental so far is £40,000. Next biggest that I have been notified by readers was £29,000. A rental of £10,000 is common while £5,000 of damage is repaired.
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