PPI Mis-selling Citifinancial

[jan78worsfold]

I made a claim against Citi for mis-selling before the PPI court ruling was made,

they told me unless I took it out I couldn't have loan, as had low credit rating.

 

Within a couple of months they re-wrote the loan on a different rate and again with two separate PPI single policies, with arrangement fees added.

 

They offered me a third loan on a lower interest rate but again saying I had to borrow more money to get this new rate and with 2 single PPI policies sold.

 

I accepted the Ombudsman's decision they had to pay me back.

 

I did receive some monies about £3,300 at the end of 2009.

 

However, they have not provided any breakdown of how they arrived at these figures and on the existing loan they only refunded part of the premium,

and was told by the Ombudsman to resrtucture the loan.

 

I haven't paid them for a couple of years and in May was told it had been sold to Arrow, Atlas or Westcott (I am unsure who actually owns it as all 3 write to me).

 

They came up with a figure about £300 more than the last letter from Citi confirming the outstanding balance.

 

I said the amount is disputed as they were to restructure the existing loan without the PPI.

 

2 1/2 years of letters have proved unsuccessful and they wrote just recently to say they do not hold any information for me, but Atlas do.

 

I asked for copies of the CCAs and statements.

 

I wrote to Atlas to say the amount is disputed and low and behold they have replied "Citifinancial have agreed to a reduction of £995 in respect of the PPI".

 

I really don't know whether this is a figure they have just plucked out of the sky but they never re-structured the loan as instructed by the Ombudsman.

 

Again, I have asked for copies of everything and how they worked out the refunds but they fail to do so as I want to try and calculate the figures myself.

 

I have now referred the matter back to the ombudsman as they haven't done as asked in their ruling in my case.

 

Any help appreciated.

[dx100uk]

certainly every SAR & CCA is needed.

 

i bet if you had rollover, you didn.t get a rebate either.

 

see link 1 below.

 

dx

[jan78worsfold]

As Citifinancial are now saying that my loan has been sold, who should I sent a SAR request to, Citi or Atlas. I'm very confused now as I also seem to be getting letters from Westcott too

[ims21]

SAR will go to Citi

[jan78worsfold]

I've just had a letter from the Ombudsman to say they are going back to Citifinancial for the information as they were told to restructure the 3rd loan but they did not and they gave only a partial refund and they never gave any breakdown of the figures. Also, have now received a letter from Wescot to say it has been withdrawn from their client Citifinancial

[jan78worsfold]

Just had another letter from CitiFinancial,

 

they said I should address any request for Data to Atlas.

 

I can't understand how they hold no information.

 

They have replied which does not address any of my concerns and say I was paid according to their calculations.

 

However, they were ordered by the Ombudsman to recalculate each loan,

every time they used incorrect redemptions which included the PPI,

 

they refuse to provide calculations of each loan and put me in a position had I not been sold the insurance.

 

I have requested this information so I can do some of my own calculations and use the spreadsheets.

 

How can I trust the figures they have given me?

 

The first loan I paid for 3 months, the initial loan was £4000 and yet the redemption was £4243.89

so after paying 3 months payments (I don't have the paperwork to check the payments on this loan as Citi won't provide this),

I owe more than I borrowed.

 

Would this be correct that after having made payments you would owe more than you borrowed?

 

Thank you!

[dx100uk]

the FOS asked for the info

 

you need to tell them CITI are being obstructive

and

refusing to fwd the info and their calc breakdown.

 

dx

[jan78worsfold]

Thank you

[jan78worsfold]

Going back through the figures just provided,

Citi sold 5 policies all in all for 3 loans, 2 extra Takecare policies on the 2nd and 3rd agreement (in addition to 3 PPI policies).

 

The Ombudsman upheld the complaint in relation to these also,

as the term of these policies were only for 3 year (whereas the loans were for 5 years),

 

so pretty pointless policies also.

 

It seems they failed to refund or calculate any rebates on these policies.

[jan78worsfold]

Hi,

I need some further help with this.

 

Citi were supposed to give me a refund on 5 policies and they only gave me a refund on 3 of the policies.

 

I reopened the case with the Ombudsman and here is their reply.

 

They were also asked to recalculate the redemption on each loan,

i.e if they say I overpaid £200 on the first loan, then payments were calculated incorrectly on the original loan of £4,000,

this meant the redemption figure carried forward to loan 2 was incorrect

and also with loan 3 also.

 

I really don't know where to go next with this and any help is appreciated.

 

I am going to issue a SAR request to Arrow and Citi and as the debt has been sold to Arrow,

would it be best to wait and let them commence action so I can defend and issue a counterclaim?

 

Here is the Ombudsman's reply. I doubt Citi will reply to their letter in relation to the Takecare policies.

 

Thank you for your previous communications which I have now had a chance to discuss with an ombudsman.

As you know a final decision was issued regarding your complaint in October 2009, and the case was then closed.

I must therefore emphasise that the final decision is the final stage of our process, and there are limits as to what we as a service can now do.

This is because when Parliament made the law establishing the Financial Ombudsman Service although it made an ombudsman’s decision legally enforceable in court,

it also decided that ombudsman decisions should be enforced in court by complainants rather than the ombudsman service.

Please find attached some information to explain this and how you might do this, if this is what you decide to do.

>

 

Nevertheless in discussion with the ombudsman and based on the correspondence provided,

it does not appear that the two 'Takecare' policies that were referred to in the final decision, have been accounted for.

I have therefore requested that CitiFinancial Europe Plc look into this,

and I will keep you informed about any reply I receive from them about this matter.

With regards to your concerns about the provision of paperwork by them you would need to consider whether you wish to pursue this matter yourself,

and could visit the Citizens Advice Bureau for further advice on this matter.

 

There are also limitations as to what this service can do in these circumstances, but you could issue CitiFinancial and/or Atlas with a Subject Access Request (SAR),

to request the relevant information that you require, in order to try and make sense of their redress calculations.

You should contact the Information Commissioner(s) to do this,

but again it would be sensible to obtain advice before doing this and the Citizens Advice Bureau would be an appropriate body to contact about this in the first instance.

 

We cannot though provide advice on offer enforcement for PPI on an existing loan,

or in circumstances where balances are brought forward from previous loans, on a closed case.

 

I very much appreciate your patience regarding these matters, and hope that this information is at least of some help to you.

 

It is important to note:

o The ombudsman decision can be enforced in the way described above. Do not just sue the financial business afresh in court, as that would enable it to reargue the merits of the case which the ombudsman has already decided..

The proceedings should be brought by the complainant(s) named in the ombudsman’s final decision. For example, if the complainants in the final decision are Mr John Smith and Mrs Mary Smith, the enforcement proceedings should not be started just in the name of Mr Smith or Mrs Smith.

 

Thank you!

[dx100uk]

you should have sent the sar before you ever started reclaiming really.

[jan78worsfold]

Just wanted some help with some other questions please, in working out the PPI percentage, do I take the total cost with interest or without?

 

How do I attach a copy of my agreement in PDF format? thank you

[dx100uk]

as long as BOTH total PPI & LOAN inc INT

or

NOT

 

see '0' below

 

else the calc will be wrong

 

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all figures and dates. {DO NOT USE A BIRO OR PEN]

convert existing PC files to PDF [office has an installable print to PDF option]

..

goto one of the many free online pdf converter websites [http://docupub.com/pdfconvert/]

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

i'e Default notice dd-mm-yyyy

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

dx

[jan78worsfold]

Thank you for your help. It is very much appreciated!. I enclose

 

1. A copy of loan agreement number 2

2. Copy of PPI refund letter

3. Copy of reply in relation to my complaint which has been ongoing for 3 years.

 

I am not sure whether Citifinancial have provided me with a correct refund. I am just enclosing loan 2 for the moment.

 

Loan 1 (I am waiting for a copy of the credit agreement) also included PPI.

Loan 2 (attached) they sold PPI and a Takecare policy. Having looked through their correspondence, the Ombudsman's decision included the Takecare policies but they have not refunded these.

Loan 3. Again PPI and a Takecare policy sold. Loan 3 is still in force (but has been sold to Arrow Global). Citi did not restructure this as they only gave a refund up to December 2009 and I therefore do not know what they did in relation to the remainder of the premiums for the loan that was left outstanding, nor did they restructure payments.

 

For loan 2 £10,000), I calculate the PPI element of the loan payments to be 17.51% at £58.75 (is this correct)? I do not know what the rebate was on redemption, although I know the figure carried over was £10501.40. I made 4 repayments of £335.54 (total £1342.16)

 

Any help as to their calculations on loan 2 would help. I realise I need the agreement for loan 1 as they kept reselling these policies whenever they rewrote the loan.

[jan78worsfold]

sorry, here are 2 of the documents

[dx100uk]

if the loans were that old

 

they that refund is way too low

 

and yes the takecare should IMHO be included

 

IMHO you can never resolve this without the SAr details.

 

atlas was your SAR target?

 

dx

[jan78worsfold]

Thank you for taking a look, I have sent a SAR to Atlas, as I first made this claim before the Court's decision on PPI mis-selling. I went through the Ombudsman I relied on them, but they did not check any calculations. Hopefully, once I have what I need I can post back.

[dx100uk]

ok sure

 

dx

[jan78worsfold]

Just for a quick update,

 

I have had an email from the Ombudsman to say Citi now confirm they did not refund the Takecare policies,

even though they were adamant they did and were sorry for this and will refund £743.06.

 

I'm still not convinced what they gave me back for the PPI policies is correct and thus the redemption on each loan incorrect.

 

As the loan has now been sold to a third party, I will wait for the paperwork to calculate myself.

 

Will keep you posted and thanks for your help dx

[penmarine]

subbing mate just awaiting a final response on a very old associates loan and as you the takecover complaint is going away tomorrow when I type it. PM

[jan78worsfold]

Funny how they say they refunded it and now all of a sudden they reply saying they didn't include it. These banks are robbers. Good luck with your claim