Citi Financial/Robinson Way Summons Received...

[spinningfish]

Hello there

 

I've got a CitiFinancial loan for about £5,000, with a ridiculous rate of interest, about 19.9% or something, off the top of my head. The repayments are about £150 per month and I've missed the past couple because I just can't afford them anymore, with rent, fuel getting to work, food, child, partner not working etc - general life!!

 

At the moment, my credit rating is poor due to ongoing disputes with organisations, and claims in process, so I can't get a loan with a better rate to consolidate this one.

 

Has anyone got an advice on what I should do??

 

Thanks in advance

 

Mr Fish

[mistie]

hi,

can you remortage (spelling!!!) we have just done it so all our debts are together with a affordable payment.

[sequenci]

hi,

can you remortage (spelling!!!) we have just done it so all our debts are together with a affordable payment.

 

not always the best thing to do.

 

spinningfish:

 

give one of the free debt help charities a call.

 

national debtline are on 0808 808 4000. they will be able to advise you on all your possible options. you can view their website here: National Debtline, for FREE CONFIDENTIAL and INDEPENDENT ADVICE call 0808 808 4000

 

cccs are also excellent although i don't know their number off the top of my head!

[diskmandave]

CCCS - Contact Us

 

Consumer Credit Counselling Service

Wade House

Merrion Centre

Leeds

LS2 8NG

[mistie]

i know, we looked into it all and deceiced it was for the best, cleared all our debts, only paying a extra £100 per month compaired to £900. an extra 5 years on our morg term.

[storm]

Wouldn't advise re-mortgaging to anyone, as I suspect most of the forum wouldn't (mainly through bad experience)

 

If your credit rating is very poor it would be a high interest rate to say the least, and why turn an unsecured loan into a secured one

 

I would never have re-mortgaged if I'd thought thngs through and knew what I know now regarding rights, consumer law etc

[spinningfish]

Hi Guys

 

Thanks for the advice.

 

I don't actually have a mortgage at all, so re-mortgaging wouldn't be an option anyhow...

 

However, if I did buy a property, I assume that the possibility to put my existing loan into a mortgage is possible?

 

Thanks

[gizmo111]

If this is the only debt you have then I suggest you offer Citi whatever you can afford from £1 per month.

[spinningfish]

from £1 per month??? Surely they will tell me to naff off if I offer lower than the agreement??

[gizmo111]

from £1 per month??? Surely they will tell me to naff off if I offer lower than the agreement??

 

They may tell you to naff off but they cannot make you pay more than you can afford, and they know if they take you to court the nno judge will order you to pay more than you can afford even if it is only £1 per month.

[spinningfish]

Thanks! I shall call them and work something out with them.

[spinningfish]

Sorry - I know this is from a while ago.

 

I sent a CCA request in the first instance and got the signed agreements back, so should I now write to them and tell them how much I can afford to pay?

 

Thanks in advance

 

Mr Fish

[allykat]

Sorry - I know this is from a while ago.

 

I sent a CCA request in the first instance and got the signed agreements back, so should I now write to them and tell them how much I can afford to pay?

 

Thanks in advance

 

Mr Fish

 

They may ask you for your income/expenditure to prove you can only pay x amount. I did it recently myself as they said they could not accept a reduced amount unless I provided this info, when I did provide it they accepted the lower payments

 

good luck

[spinningfish]

Just out of interest, is there any legislation that says that they can demand to know what your income/expenditure is?

 

Thanks

[allykat]

Just out of interest, is there any legislation that says that they can demand to know what your income/expenditure is?

 

Thanks

 

Not sure, but I very much doubt it

 

I was a bit naive when I first started dealing with a DCA, they demanded payments I could not afford and said the only way I could get them to accept a lower payment was to provide these details. I just did it to get them off my case until I could get a CCA request out to them.

 

I just found it easier and it stopped them phoning me numerous times a day, when they realised I genuinely could not afford what they wanted.

[spinningfish]

It would be interesting to find out.

 

Can anyone else advise us?

 

Thanks

[KJD]

Would it be worth checking for any charges on your account before making any repayment offers? If you have them, check back through your statments or send them an SAR. Could reduce the total owing and also buy you a little bit more time.

 

Just an idea

[surprise]

I am in the same boat with Citi. I sent them a SAR on 7th March since which time they have sent me information which is incomplete and each time I have had to write back to them. At this point it is still incomplete. For some reason they are avoiding giving me a balance but sent me a settlement figure instead. I am having to go back to them again. I can tell you there will be charges. £10.00 a month. I would do a SAR and see how you get on.

[gizmo111]

Just out of interest, is there any legislation that says that they can demand to know what your income/expenditure is?

 

Thanks

 

No, but if you wantthem to freeze interest and accept lower payments then it is obviously the only way you are going to prove to them that you cannot afford to pay the full amount. In this scenario they are not likely to go for CCJ either.

[bungleboy]

I'm also in a trickt situation with citi. I am paying £345.00 per month for the next 4 years. It's crippling me along with the mortgage/counciltax/cartax/gas/elec/phone/fuel etcetc. I can no longer pay this ammount, we need some good advice on how we can overcome this horrible situation. We cannot remortgage because we have poor credit. Please can somebody help???

[allykat]

I'm also in a trickt situation with citi. I am paying £345.00 per month for the next 4 years. It's crippling me along with the mortgage/counciltax/cartax/gas/elec/phone/fuel etcetc. I can no longer pay this ammount, we need some good advice on how we can overcome this horrible situation. We cannot remortgage because we have poor credit. Please can somebody help???

 

Are there any charges included in the total you owe to them? If you think there are then send them a SAR and claim back the charges first

 

The best way to prove you cannot afford the monthly amount is to do an income/expenditure, they can't take what you don't have and so long as you are making token payments, no matter how small, it would go in your favour if it ever went to court

[miss muppet]

Contact CCCS, number is up near the top of this post, they will either contact the creditors for you or email you a self-help pack which is very informative and easy to complete, no way should you be paying more than you can afford. They are tricky customers though and in my other half's case where he is paying them £38 per month, we noticed they had suddenly started adding interest again, a cynic might think this was because we went after them for penalties and got a partial repayment, haven't gone any further because we have our hands full with Barclaycard but haven't finished with them yet! - they say its because the 6 month agreement had come to an end - however he told them that they are the only ones getting more than the pro rata agreement and now they have agreed to £34. per month.

[bungleboy]

alleycat, do you meen are there any late payment charges?? if so the answer is yes!! today i have requested the past 10 years loan agreements from them. I have perhaps had six or seven loans from them in the past ten years, each has been consolidated to a top-up loan.Imagine i had a loan for £5,000 over 5 years, after 2 years i borrow a further £2,000 I beleive that they have just deducted the ammount i have paid within the two years and added the rest on to the new loan without taking away the three years interest(if that makes sense)?? along with this they have always insisted that i took the ppi otherwise i would not get the loan..! I realy am struggling with citifinancial, I honestly cannot aford to pay these payments any longer. The thing is im a little worried as to what will happen if i dont. I might sound a wimp but anything like this i realy do panic!! please anybody can you reassure me?? thanks alleycat for the advice....

[surprise]

Have you had your agreement checked out with the Trading Standards Office. They have currently got mine. I am worried about them aswell. Whilst everything appears on the agreement I feel there is something I'm missing. Also, you can obtain an e

Personal Budget Sheet from the National Debtline Website. This is brilliant you input all your income and and expenditure and it works it out what is left for creditors on a pro-rata basis. There is a letter in General Debt Letters to send it to them with.

[allykat]

As the last post suggests...get the agreements checked out by Trading Standards, if you think there's something not quite right, it's best to know for sure.

 

As for the charges.....claim them back! You say you have requested the agreements from Citi, but have you sent them a full SAR? It will cost you £10 but you'll be able to claim for unfair charges, such as late payment charges

 

As I said about income/expenditure, it's a good way to prove what you can and cannot afford, and read the other posts...contact the national debtine or the CCCS.

 

You can reduce the amount you are paying now and try not to worry too much! Don't stop paying them altogether, but if all you can afford is a couple of quid a month, then that's what you should offer. A roof over your head and essentials should take priority, don't leave yourself short