Associates/Citi SAR for PPI **WON +£6k**+ **THEN CHARGES WON**

[Boltmaker]

Hi guys,

 

Following various advice gained on here I have recently received Statements and

 

as far as I can tell other useful details of PPI payments to the above account (prior to cancelling in 2003)

and also details of all charges ranging from £25 down to £12.

 

These I understand can now be reclaimed for payment to me as the defaulted debt was sold to Cabot some time ago.

 

There is a reasonable amount of about £1500 for both PPI payments and charges

and I understand that I can claim interest on both PPi payments and charges

but not sure a which rate to claim.

 

Any advice would be much appreciated.

[Boltmaker]

Advice on the above really required so that I do not mess up any claim. What is the rate for PPI claims and what rate for charges. Help please

[theoldrouge]

at the average rate that you were charged on your account by citicards probably in the region of 24.9%-30%

[Shelley181146]

Hello Boltmaker,

 

Firstly, do you have all the statements for your accounts going back to the start of the accounts? If not have you sent a Data Subject Access Request (DSAR) to the banks involved to obtain the information? There is help on this in another part of the forum to guide you through that process.

Assuming you have all the relevant information for your accounts - the statements should tell you what percentage of interest they were charging you for both PPI and the Unfair Charges. If you are going back many many years then it should be contained within your terms and conditons.

If I am correct, Associates/Citi cards were usually charging approx 30% However, you will probably have better success in claiming 24.9% unless of course you are prepared to go to court and explain to the judge but, you will have a tough time proving your case (speaking from experience). I take it your account is over 6 years old? If so, then you will have a tough ride claiming charges from Citi so be prepared.

I will find you a couple of links to research for your calculations and so long as you have the relevant information to enter into them, it is a simple process to arrive at the figure you would be claiming.

How much are we talking about for PPI and how much for charges (approx) Is the £1500 mentioned earlier a total for both or each?

[Shelley181146]

http://www.consumeractiongroup.co.uk/forum/showthread.php?249257-PPI-Interest-Calculator

[Boltmaker]

Hi Shelley181146,

 

Thanks for your reply. I sent for SAR from Citi and received large package containing nearly all statements from 2000 to 2010 when account was sold on to Cabot. PPI payments calculated as £2484.63 and a rough calculation at 24.9pc over ten years is a wonderful sum. Charges are £1514. and over the same length of time are another great figure if I can get it.

[Shelley181146]

Apologeis for not getting back to you sooner, been poorly.

 

So, Citi have been compliant with the information they sent to you?

From personal experience I fought to get compound interest on PPI over 6 years old and won by obtaining judgmenet by default through the courts and sending the bailiffs in.

However, the charges were a different story. Be prepared for a strong fight with the LA 1980.

[Boltmaker]

Morning to you all,

Need some help with a PPI claim against c card.

Total PPI payments from Dec 2003 to Aug 2005 amount to £2488.63.

 

Usesing the FOS spreadsheet interest is shown at 8% as £1955.85, making a total of £4444.48,

but I understand that I should claim at an interest rate of 24.9% which make s a huge difference in the total.

 

Cannot get FOS sheet to operate at 24.95.

 

it merely shows interest at 8%. Seems I am doing something wrong somewhere but I do not know what.

[ims21]

Have you got all of the statements for the card?

[dx100uk]

which card is this?

 

dx

[Boltmaker]

Hi Ims21 and DX100Uk.

 

Thanks for your quick responses.

 

Yes SAR credit card (CITI) and have all statements from 2000 thru to 2009.

 

PPI ran from Dec 2003 thru to Aug 2005 when I cancelled it.

 

Statements show PPi at varying amounts each month along with the balances.

 

I have transferred the PPI amounts onto the FOS spreadsheet as the notes indicate but only at 8% which I could not change.

 

There is I am sure a vast difference in this percentage and the percentage that Citi charged which I am led to believe was 24 to 30%.

 

Difficult to tell from the statements as ithey do not show as a total APR as do modern statements.

[dx100uk]

two threads merged

 

keep to one thread please

 

use the FOSCISHEET

 

This fourth spreadsheet is useful in calculating a regulatory based compound interest award for PPI on a Revolving Credit Account. Or for a PENALTY charges Reclaim. Not all statements are required for this sheet because it will work out the compound interest on the PPI payments you do know about. It will not work out the additional 8% interest, to do that you will need spreadsheet three above AND all of your statements.

 

FosCISheet v101.xls

 

put THEIR AVG int rate in cell D15

 

you can copy and paste over cols 1/2/3 from the old spreadsheet.

[Boltmaker]

Hi DX100UK,

 

Once again thanks for your quick responses.

 

I have another question now,

 

what date can I claim up to.

 

One piece of advice tells me that I can claim from Dec 2001 to Aug 2005 when payments stopped.

 

Other advice tells me I can claim the interest up to the present date.

 

Which is right please?

[dx100uk]

up until either when int was stopped or the account was closed [where their int was stopped]

 

you can charge at their int rate/.

 

from then till now

 

put [that] total figure as a whole

into the statint sheet

 

you can claim 8% stat int from the date their int stopped till today.

 

dx

[Boltmaker]

Thanx very much DX100UK. That brings it to a great total of around £21k. Not in any doubt I will have a real battle on my plate to get them to repay and will have to resort to FOS

[Boltmaker]

Hi all,

Can report some good news regarding PPI and Citi Financial. Have received offer of £6400 redress on ppi with Citi/Associates. £200 more that I calculated and offered without hassle. (suspect?)

[dx100uk]

threads merged [again]

 

so not anywhere near £21k then?

 

dx

[Boltmaker]

No initial calculation was way out. Recalculated to £6134 so still gained.

Thanks for all the help and advice from you good people.

[dx100uk]

good well done

 

ok

 

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[Boltmaker]

Following on from a reasonable reclaim of PPI from Citi cards I wrote to them some weeks ago reclaiming CC charges but got a reply which was a total refusal. Followed this by writing to FOS. Can now report that today received a letter from FOS stating that Citi reluctantly have agreed to repay £586 charges plus interest, another success against these sharks.

[dx100uk]

that's an unusual result

 

the fos rarely get involved in charges claims let alone recommend they cough!

 

dx

[Boltmaker]

The real message here is keep at them, you as a claimer/reclaimer have nothing to loose and if successful a lot to gain and you certainly do not need rip off reclaim PPI companies to do the work which you can do yourself for nought except for a bit of postage. Pester them the same way as a DCA would pester you, or go to FOS again at no cost and good luck.

[Boltmaker]

Hi DX, Yeah that was my understanding too but when Citi refused my claim they sent along with the refusal letter a FOS pamphlet to contact FOS in not satisfied so I thought give it a try and coming home today after a weeks holiday in Lincolnshire and receiving that news from FOS it was well worth the try.

[theoldrouge]

well done boltmaker, was this a seperate charges reclaim or did the fos decide it was further redress for your ppi claim ie you would not have incured charges but for the ppi?

[Shelley181146]

Following on from a reasonable reclaim of PPI from Citi cards I wrote to them some weeks ago reclaiming CC charges but got a reply which was a total refusal. Followed this by writing to FOS. Can now report that today received a letter from FOS stating that Citi reluctantly have agreed to repay £586 charges plus interest, another success against these sharks.

 

I presume your cc charges claim was not older than 6 years?