Thread: PPI & Contract Advise Please

Hiya Marsay, kinda of a complicated one here lol so I will do my best to advise but if anyone would like to jump in with any other opinions please do.

Hi,

I took a car HP Agreement out back in about 2000 with CitFinancial and I was told that I could not have the car unless I took the PPI, I needed a car for work so I went ahead with it not knowing that I had an option!! I agree this was then missold

It wasn't long before I realised that the costs were too high for me (silly I know(to be polite)) and the car was taken back and I was left with a huge bill to repay which went to DLC - debt collection agency.
The debt was finally cleared off in 2008!! so the debt is now paid in full, was the DLC lewis's by any chance ?

I found out about the mis-selling of PPI insurance in 2008 and put a complaint in to Citi Financial who ignored me so I complain to fos.

The FOS have been looking at the case for over 2years now and have just come back to me to advise that CitiFinancial sold the debt to Welcome Finance in 2001 and that they did not have the paperwork. Problem is that I do not have any of the original agreement! if this debt was sold in full in 2001 that would end the relationship of contract with Citi so they would need to hold all the information for a period of 6 years that they had on you, this time has now elapsed so they do not have to legally keep any of your records, although if they do have them they have to produce them and send them you under the DPA1998 on a Subject access request.

I did however ask the FOS the following and wondered what your thoughts were please:

Should I have been informed that the debt was sold to Wlecome Finance as I was not? yes you should of been but little you can do now due again as above timescale.

Am I right in assuming that I have been paying DLC (debt collection) who were acting on behalf of Welcome Finance not CitiFinancial? It does seem this way but this should of been made clear.

If this is the case and the debt was only paid up in full a year or so ago should Welcome Finance legally still have the original contract in their posession? yes they should, you need to send a SAR to welcome to check if they have all the correct info. They need to keep the agreement and all other account info for anotherv 5 years as per the statue of limitations.

If Welcome Finance do not have the contract what right have they had to demand money from me? they had every right to collect and ask if they owned the debt, but without the agreement they had no right to enforce but they did not do this as you paid .

Would it be a case of all payments made to DLC / Welcome Finance with regards to this claim (DLC reference: xxxxxxxx) be refunded to me in full and with interest as it was improper to demand money with them not having a legally binding contract?" I dont think so as they did have the right to demand and ask for monies, they just couldnt enforce in court.



Ok so summary for you, send SAR to welcome at
WELCOME FINANCIAL SERVICE
COMPLIANCE
RUDDINGTON FIELD BUSINESS PARK
RUDDINGTON
NOTTINGHAM
NG11 6NZ

REMEMBER THE £10 POSTAL ORDER AND SEND RECORDED DELIEVERY

Never sign but print signature.

Hopefully you can get copy of contract and you will see all the info of how they came to own your account, then with a copy of this contract you can claim missold PPI to citi. hope this helps .

i'm suprised that the fos informed you that a claim is unlikely to succeed. [in not so many words]

can you not use bank statements to prove what you paid? and thus have a guestimate at the PPI level [typically 10-15%]

the limitations act sec 32c applies here ... you were not aware etc etc.

and your claim will be to the OC regardless to whomever it was sold on too.

dx