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Bit of a quandary- Citicards


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Morning all, Sorry for starting yet another thread about our friends at Citi:rolleyes:

 

Citi sold this debt to Cabot in October 2004

 

The closing balance was just over £580

 

Included in that total is £225 of charges

 

Both Citi and Cabot have failed to provide my agreement (CCA'd Cabot October 08)( SAR'd Citi March 09)

 

Have paid Cabot £160 until they defaulted

 

Now on to my Quandary.

 

If I put in a claim for my charges back, does that mean I acknowledge the debt exists?

I did a spreadsheet and those charges when compounded at Citi's cash rate of 31.4% means that £225 in charges has risen to a potential reclaim of £955.

 

OR

 

Carry on with the unenforceablility issue with Cabot and hope they go away.

 

What are Citi like for paying out?

 

All replies gratefully received

 

fox

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Just a little nudge in the right direction:)

If you are asked to deal with any matter via private message, PLEASE report it.

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No. Reclaiming the charges is not an acknowledgement of the debt.

 

Some about teen think that compound interest is a runner. I tend to disagree . I think that restitutionary damages is the way to go.

 

Have they actually taken the charges from you? Or have they just added it to the debt? If they haven't actually taken the charges from you then you wouldn't be at to claim interest on it anyway because they haven't had the use of the money -- whether you are calculating compound interest or claiming restitutionary damages.

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Thankyou for that BF. That answers a lot.

 

I won't bother claiming as they just added the charges to the debt.

 

I stopped paying in Feb 04 when I had my breakdown.

 

I'll just continue the battle on enforceability with Cabot.

 

Thanks again.

 

fox

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Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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On the other hand, if it goes to court then refer to the charges in your defence

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