CitiFinancial PPI claim - advice needed please

[chezwicks]

Hi

 

Not sure if i have put this thread in the correct place, but here goes anyway

 

We had a loan off Citifinancial and paid it off IN FULL on 3rd August 2004. If i was told correctly, you can claim PPI back within 6 years?

 

We sent a letter off to claim PPI back and have received a letter back today stating the following:-

 

"Thank you for your recent correspondence. I am aware that you have raised a claim for the return of the PPI that was paid with regards to your loan. Following our investigation it is with regret we are unable to uphold your request. The reason for our decision is based on the lack of information available. A possible explanation is the length of time that has lapsed since the closure of the account. In accordance with the Data Protection Act, Citifinancil has a policy to purge historial documents from our archives after approximately 5 years. Due to lack of account information, we are unable to progress this matter further and this is our final response and the complaint is now closed."

 

Can they do this as we are still within the 6 years? or can i go to the Financial Ombudsman? If so, do you think they could help?

 

They're quick enough to take it off you, but not quick enough to give it back!

 

Any help is appreciated, thanks x

[rhos123]

hi, this is total rubbish, they must keep all records of the loan, for six years after the loan ended. as this is thier final responce, complain to the fos. contact the fos explain the situation. i am sure they will take this on, it will also cost citifinancil. dont take no for an answer, they mis-sold this ppi now go and get your money back, and dont forget the stat 8% intrest:D

[dx100uk]

there is a limit of 6yrs to keep docs by them,

but that aside, your claim is certainly not barred by any time limit at all!

[limitations act 1980 sec 32c applies - the clock starts ticking from where you 'become aware' you have been fleeced!

 

now, your only issue here might well be documentaryr proof.

if you have the original agreement then great - game over for them!

 

if not and they cannot supply [i would SAR them! use the PPI version of the SAR] then it will be down to bank statements showing what you paid, and guestimation upon the PPI level charged.

 

however that can run in your favour as you could over guestimate! how can they prove otherwise!

 

what info have you got?

 

dx

[chezwicks]

Hi thanks for your replies

 

The only info we have is the account number and the settlement letter which states "interest rebate" which i am presuming is PPI.

[chezwicks]

Oh, will i do the "send £1 for copy of original agreement" ?

[chezwicks]

Ah, while im at it..........we also had a loan off Ocean Finance and paid it off in full in 2002. I sent letter to them asking for a copy of the original agreement and got a letter back stating they no longer have our records?

[dx100uk]

Oh, will i do the "send £1 for copy of original agreement" ?

 

nope sar £10

 

dx

[dx100uk]

Ah, while im at it..........we also had a loan off Ocean Finance and paid it off in full in 2002. I sent letter to them asking for a copy of the original agreement and got a letter back stating they no longer have our records?

 

poss so depends upon how long they keep them.

 

again only an sar will tell you for sure.

 

dx

[dx100uk]

Hi thanks for your replies

 

The only info we have is the account number and the settlement letter which states "interest rebate" which i am presuming is PPI.

 

 

nope that will be the interest you get back because you settled the loan early

i doubt very much they would wabt to remind you they fleeced PPI out of you too!

 

dx

[chezwicks]

sorry, my mistake, ive just re-read the settlement letter, and it states "insurance rebate"

[dx100uk]

sorry, my mistake, ive just re-read the settlement letter, and it states "insurance rebate"

 

well that still will not be the whole amount, poss just that which was to be paid if you had not been cancelled

but anyhow all you do is take that figure off the total of your claim now.

 

it also brings up another point though, you should also have gotten a rebate anyhow on the interest charged as the loan did not run its full term?

 

dx

[chezwicks]

oh yes, i got insurance rebate and interest rebate. If i send the £10 for that SAR thingy, what happens if they cant supply the information requested? cant really afford to be a tenna out of pocket - specially if i gotta send 2 lots lol

[dx100uk]

ok i'll take a punt here.

 

i bet they HAVE got the paperwork, but as you only 'asked' to be refunded, they did have to tell the truth

 

if you sar them its LEGAL and they must supply what they have on you.

 

how much was the loan for and over what term?

 

dx

[chezwicks]

erm.... cant remember for definate, but i think it was around £2.5k over possibly 3 yrs, but we paid it off about 6 months after taking the loan out.

[dx100uk]

really that small

what total rebate did you get an what did you pay in settlement

 

looking like this might only be worth a couple of £100

 

dx

[chezwicks]

oh yes, it wasnt a massive loan.

 

settlement states :0

 

balance of interest and pricipal outstanding on the account £2330.39

total payable before rebate £2330.39

interest rebate 304.31

insurance rebate 146.08

settlement figure £1880.00

 

Like i said, not a large loan, but principal

[dx100uk]

i'd guess you migt get an extra £150-£200 at most inc 8%

 

dx

[chezwicks]

better than nothing though huh? after all, they're quick enough to take it off you arent they?!!

[dx100uk]

cant parchase look at a bank statement or anything and give me the ammount paid per month can you?

 

that will give me a better idea

 

dx

[chezwicks]

omg no........id have to get in touch with my bank to obtain them. I cant even remember offhand what the monthly payments were

[chezwicks]

i appreciate your assistance though dx and will look at sending the SAR request, especially to ocean finance because that was a £8.5k loan

[dx100uk]

i appreciate your assistance though dx and will look at sending the SAR request, especially to ocean finance because that was a £8.5k loan

 

well on both counts it will depend on the sar returns and what they show up.

 

but for £20 for both it might be worth it.

 

dx