CENTRAL TRUST- i am a mole

koala77

Keep me posted Jason, will be interesting to track your progress

JasonLevy

koala77 wrote: »

Hi koala, thanks for your thoughts, i will keep you posted, like wise if you should have any new feedback.

dude2803

exactly the same here had a letter confirming that they were partially upholding the complaint and offered me £700 from a £1900 policy. i have paid £1200 ish so far in my mthly payments so i called them and asked them for £1200 back. will let you know how i get on.

dippynina

We have a secured loan with Central Trust - Eight months ago we were 3 months behind in our payments due to financial difficulty. We received a letter from them suggesting that we should cancel our PPI and the money due back to us would be used to pay off the arrears and also could be used to make the following months' payments. At the time this was a godsend and we immediately took them up on their offer. We have made monthly token payments and the rest was made up from our PPI refund. This month was the first month that we have had to make a full payment (which was a real struggle!)
Anyway, I know that when we applied for the loan we were advised that by taking out PPI it would help us in our application. At that point I had already been considering pursuing them for it. Could it be that by CT volunteering a refund of PPI was an admission on their part that it had been mis-sold or is this standard practice?

I wish I hadn't been so hasty in taking them up in their offer but it was a way out of a sticky situation at the time. I know its a long shot but could I still try and pursue them for the interest that would have incurred?
Any help would be greatly appreciated.

di3004

dippynina wrote: »

We have a secured loan with Central Trust - Eight months ago we were 3 months behind in our payments due to financial difficulty. We received a letter from them suggesting that we should cancel our PPI and the money due back to us would be used to pay off the arrears and also could be used to make the following months' payments. At the time this was a godsend and we immediately took them up on their offer. We have made monthly token payments and the rest was made up from our PPI refund. This month was the first month that we have had to make a full payment (which was a real struggle!)
Anyway, I know that when we applied for the loan we were advised that by taking out PPI it would help us in our application. At that point I had already been considering pursuing them for it. Could it be that by CT volunteering a refund of PPI was an admission on their part that it had been mis-sold or is this standard practice?

I wish I hadn't been so hasty in taking them up in their offer but it was a way out of a sticky situation at the time. I know its a long shot but could I still try and pursue them for the interest that would have incurred?
Any help would be greatly appreciated.

Hi there.;)

I see what you mean here.

You could write to them and still complain on this if you want to, and up to now I have not come across anything before on where they request that you cancel the ppi so that they can use this to refund on the arrears. And not requested by yourself.

Why don't you give the Financial ombudsman service (FOS) a ring on this and tell them you went along with this, but now you not sure if this was allowed to be done or not.
It could be that you could have used the PPI, if you were eligible, where now you do not have this, because they suggested you cancel to refund towards the arrears, you could ask the FOS if this is standard practice, or even the OFT (Office of fair trading) perhaps.

If the FOS says you can complain, then ask them if they can do this on your behalf.
http://www.financial-ombudsman.org.uk/contact/index.html

Hopefully the OFT may be helpful as well.
http://www.oft.gov.uk/contactus

And another suggestion the FSA
http://www.fsa.gov.uk/Pages/Doing/Contact/index.shtml

These are just suggestions, hope this works out for you, good luck.;)

goldengal

Hi CTMole, I'm thinking to take up an unsecured loan with CT but I've a bad credit record. Would CT entertain my application and how long will it take to process and release the funds?

jayjay123_2

Hello All
I took out a loan with central Trust a few years ago and have currently put in a claim for the mis-selling of ppi Insurance as my husband was self employed at the time.
They have left it till 2 days before the eight week time scale to tell me that my claim has been put on hold has any one else had this happen or can any one shed some light on what this means?
ANY RESPONSES WOULD BE GREAT
THANK YOU

maxdp

jayjay123 wrote: »

Hello All
I took out a loan with central Trust a few years ago and have currently put in a claim for the mis-selling of ppi Insurance as my husband was self employed at the time.
They have left it till 2 days before the eight week time scale to tell me that my claim has been put on hold has any one else had this happen or can any one shed some light on what this means?
ANY RESPONSES WOULD BE GREAT
THANK YOU

Hi There

Write again and tell them that unless you get a response within one week (give dates in letter) you will take this to the FOS. They should reply in 8 weeks.

Alternatively if you trust what they say give it another couple of weeks. The problem is that if it goes to the FOS then you will have to wait around at least 18 months.

Good Luck

JasonLevy

JasonLevy wrote: »

koala77 wrote: »

Hi koala, thanks for your thoughts, i will keep you posted, like wise if you should have any new feedback.

Hi Koala, Just updating you that i choose to respond with "i want more and reclaimed for £6270" which i thought was reasonable and apart from getting a shocker saying yes they accepted than putting my cliam on hold. After lots of calls etc includng to the FSO i got the money in my account on 23rd Dec. Good luck let me know your outcome. Merry xmas

koala77

JasonLevy wrote: »

JasonLevy wrote: »

Hi Koala, Just updating you that i choose to respond with "i want more and reclaimed for £6270" which i thought was reasonable and apart from getting a shocker saying yes they accepted than putting my cliam on hold. After lots of calls etc includng to the FSO i got the money in my account on 23rd Dec. Good luck let me know your outcome. Merry xmas

Hi Jason thanks so much for the update. I'm really pleased it worked out for you. For me on the other hand, Central Capital have completely dismissed my claim. It is now in the hands of the FOS. Can I ask what were the grounds of your claim? On what aspects did they concede they had failed on? I still believe they did not fully comply with the FSA standards but they are adamant they did. Another few questions if you dont mind - When did you take out your loan? Who was the CAM? Would you mind briefly going over the main sales call i.e. how was the PPI introduced? Were all the terms fully explained etc? Did they say in their letter why they were refunding you? Any information would be greatly appreciated.

Kate