Associates Capital now CITI from 1994 PPI Reclaim???

[allison6564]

Over the weekend my hubby went up into our loft to try and find some paperwork in relation to another PPI claim I have but found an agreement for a car we bought back in 1994 from a Ford Dealership and its with Associate Capital.

 

I remember at the time we had a really bad credit record and the sales man said that if we added the PPI it would help our application for credit.

 

I remember being so desperate to buy the car as we needed one for work that we even took out the mechanical breakdown cover. We would of done anything in order to get the finance.

 

At the time we were managers of a public house and so the cover was not needed as we would of been paid a salary even if one of us was ill as you ran the business as your own and had full control over takings and budgets etc and so if you was ill you would of just given staff more hours to cover for you.

 

Also redundancy was not a worry as if for some reason the pub actually closed down, which was very unlikely, you would just be transferred to another one as we worked for the company as salaried managers.

 

I have a copy of all the original paperwork etc and want to try and claim back the credit insurance which was £544 plus interest of £244.80 paid monthly over the term of the loan.

 

I have googled Assocaites and can see that CITI bought them in 2000 so do I need to send my claim to them?

[rebel11]

Hi allison

 

Have you checked CITI website to check what they are saying about PPI claims?

[allison6564]

No will do now.....

[rebel11]

You'll get an insight into how CITI are dealing with claims.

 

No will do now.....

[theoldrouge]

be prepared for a long battle on this one Allison. I had s/e ppi on my associates card from 2001, and its taken me 2 years of letter writing to obtain settlement. They actually coughed just 2 weeks ago. They initially turned down and were dismissive by claiming they and the insursers ( in my case cumberland) were not a member of the ins ombudsman scheme that preceeded the fos, saying I couldnt refer to the fos being pre dec 2001.Anyway who were the insurers in your case? and send all letters to citi by signed for special delivery. I eventually wrote to citi europes chief exec and that did the trick

[allison6564]

Thanks OR ..

.for us with this one we weren't se but pub managers for a top brewery at the time.

 

We had a poor credit rating and was told we had to have it in order to get finance for a much needed car

 

. No box's were ticked etc and no questions asked as to if we needed it.

I have all paperwork from sale Including for dealerships invoice,sales reps card,mechanical breakdown cover with ter s that we were also conned into taking out with associates and the original agreement that has no date on it by the way.

 

I'm using the argument that we were told we had to have it to obtain finance and that nothing was discussed and no terms etc given to us in relation to the policy. As pub managers if we were sick we just gave staff more hours and would of still been paid in full as you run the business as your own with full control of expenditure etc and would never of been redundant as if for some weird reason the pub closed they hundreds more tat we could of moved to.

 

Have filled out the questionnaire and will send recorded tomoz...fingers crossed.

 

Sorry forgot to say that haven't a clue who the insurance was with it was on the agreement but Jo other paperwork.

[theoldrouge]

send special delivery get it signed for otherwise believe me citi will ignore, £6.70 but will save you alot of time

[allison6564]

Will do thx for the tip x

[Bumble B]

Hi Allison, good luck with your claim. I am going to start a complaint with Citifinancial for a family membe's AVCO loan dating back to 1994. I have all bank statements showing the monthly premium paid to AVCO, but don't know how much of it was PPI. Does it show on your agreement how much of the original amount AVCO/Associates charged as front-loaded PPI? I am putting a speculative claim at the estimate of 15%. I also calculated that the interest was something like 30% APR! Thanks

[allison6564]

Hi yes as I found the orginal agreement it showed the amount paid and intrest rates etc. Maybe you could send a SAR request to Citi.

[Bumble B]

This is great, may be you could tell me what percentage of the loan amount was PPI? Like: if loan is 4500 ppi 500, then ppi is 10% of the loan amount. You dont need to show figures, just the percentage. I requested SAR and they came back saying they don't have anything which is fair enough as the loan was paid in 2000.

[allison6564]

was 16% of amount borrowed plus intrest added at 29.3% over 36 months

[Bumble B]

Oh, thanks a lot! That gives me some more confidence. I am going to put a speculative claim on the basis that at the time they charged certain amount of PPI and certain interest. I have the closing statement and all the bank transactions.

[allison6564]

Hi bumble b was wondering on what grounds your going to make your claim as yesterday I found more paperwork including the terms and conditions. The car can't be more than five years old at commencement and it doesn't cover self employed...not sure if that could help your claim x

[Bumble B]

Hi Allison, thanks for the update. I am submitting a generic claim based on the fact that it was a single premium(front loaded) policy and that it was a poor value for money. I am also pretty sure there is no cancellation details on the agreement. Could you scan and post the terms and condition on this forum (blanking all personal data). It can make an interesting read. Thanks

[allison6564]

Hi yes but will have to be Monday when I'm back in the office...there are Jo personal details as it was a leaflet.

[Bumble B]

Great, is it possible to post the agreement too? It would help to see how it was worded and laid out (you would need to blank all personal details on it). Thanks.

[allison6564]

Copy of terms and conditions sorry but can't do the agreement as its an old style one and full of personal info all over it and too difficult to cut it all out...hope this helps

[theoldrouge]

this ones starting to look more hopeful then Allison,Combined Insurance Company of America, your ppi insurers on this policy, were fined £2.8 million by the FSA on Dec 19th 2011, for putting its customers at risk of being treated unfairly:wink:

[allison6564]

ooo thanks for that info OR hopefully this one will pay out...it won;t be a fortune but anything would be better than the knockbacks I've been getting.

 

CITI have been giving me a bit of a run around though...haven't posted on this thread about it because its just formalities but they wrote at first saying that as our address is now different they need proof of address and also more info as they couldn't find our file.

 

I wrote back with full history since 94 as moved in 96 and then again to our current home in 98 and also sent DOB's etc.

 

They then wrote back with the agreement number on, which I'm hoping meant that they found the file and once again saying they needed proof of address with names on etc.

 

It must of been because I sent a COPY of our latest council tax bill so have sent them the original one this morning recorded...they did say in their last letter that if they upheld they would not be bale to pay out until they had this info.

So fingers crossed x

[Bumble B]

Good luck Allison. I have sent our claim today by recorded mail. Fingers crossed.x

[allison6564]

Well had a strange letter from CITI today saying that they no longer own the account and that it has been passed onto opus. Think they are getting confused as hubby did have a CITI card that was transfered to opus then to Cabot but no CCA so that one is finished and have confirmation from Cabot saying they won't pursue and will fall of credit file in 2016.

They say all correspondence should now go to opus but it was cities who bought Associates Finance and it is the agreement with Associated I am claiming the PPI on.

Not sure what to do with this one.

[theoldrouge]

see post no5 Allison, typical Citi runaround. Had all this nonsense for two years. Send a letter to the chief exec Citi Financial Europe and insist he sorts it out,it does get results

[allison6564]

OMG another two letters today, one to me asking for more info as unable to locate the account and one for hubby saying as he's changed address need proof.....I have already sent this info along with original council tax bill and full history. I also sent them a letter stating that it was not a credit card but a joint loan wit associates for a car. You were correct saying they'll give me the runaround OR .

Tried to ring them but there's Jo number urghh will have to send yet another letter.

[theoldrouge]

Strong letter to the chief exec Allison, otherwise youll be back and forward to opus next. I really dont know if its delaying tactics or complete ineptitude, but I found only the chief execs office were able to sort it out. Send it Private and Confidential, and of course get it signed for:!: