CitiFinancial & PPI

marshallka

StokiePotter wrote: »

O Ok.... :-/

Im guessing the best way to do so is with a SAR?

Will this mean I need to scrap the 8 week deadline I gave them? :-)

I would ask them to just prove the settlement and ask HOW they actually did the settlement. You need to ask them for a complete breakdown of how they calculated it as you feel you actually overpaid this anyway let alone anything about the PPI. If they are saying you HAD a rebate of insurance when you settled the loan early of this £690.70 then you should really have settled about £3907.82 instead of the amount of £4358.58. This is not to do with the PPI misselling, its purely about their actual settlement being wrong IF (and they cannot have done) they gave you this rebate. I think they only actually rebated you about £240.00???????

StokiePotter

marshallka,

Again, Thanks for the assistance....

Im just trying to figure out my best course of action, as this account is near on 6yrs old so Im sure they wont be tripping over themselves to offer me any type of clarification especially as they know I am after money back.

So,

A - They owe me money from my settlement and then the PPI payments....

My initial claim for PPI would have been the £927.43 + Stat interest of £413.46 = £1340.89?!

I had no rebate "at all" from them when I settled, but i can remember nearly swallowing my tongue when I found out I had to pay an extra £800+ on top of the £3500 :-/

marshallka

StokiePotter wrote: »

marshallka,

Again, Thanks for the assistance....

Im just trying to figure out my best course of action, as this account is near on 6yrs old so Im sure they wont be tripping over themselves to offer me any type of clarification especially as they know I am after money back.

So,

A - They owe me money from my settlement and then the PPI payments....

My initial claim for PPI would have been the £927.43 + Stat interest of £413.46 = £1340.89?!

I had no rebate "at all" from them when I settled, but i can remember nearly swallowing my tongue when I found out I had to pay an extra £800+ on top of the £3500 :-/

Hi, you must have had some rebate from them when you settled as the settlement would have been £4601.51 (that is including the £100 arrangement fee which was added to the loan). You did not pay that amount but they said they rebated you £690.70 so really if they did you should have paid over them 4601.51 - 690.70 = £3910.81. You actually paid them £4358.58. There is a difference here of £447.77. If you then take this away from the 690.70 you get the actual amount that they must have rebated being £242.93.

The amount you are really looking for back is the amount you repaid against your PPI being the 5 repayments of 45.93 x 5 = £229.65 AND whatever you were charged when you settled the loan being as I work it

949.61 less what they rebated being £242.93 = £706.68 + what you made in repayments being £229.65 = £936.33 (+ statutory interest, less whatever they actually already paid over of £388). This would be a fairer amount but you need to get them to admit how they worked out their settlement first.

If you send for a SAR then this would take 40 days. You then have a problem of them actually closing the complaint so you have to work fast. Did you sign as full and final at all?

StokiePotter

No there were no terms or anything for me to sign, basically they informed me that this was their full and final response and the complaint closed and referred me to the FLA if I wanted to refer my complaint.

When I called this morning the chap gave me the answers I needed (Settlement figure paid) but Im guessing that trying to get confirmation and an explanation to the loan settlement would be a complete and utter nightmare

marshallka

StokiePotter wrote: »

No there were no terms or anything for me to sign, basically they informed me that this was their full and final response and the complaint closed and referred me to the FLA if I wanted to refer my complaint.

When I called this morning the chap gave me the answers I needed (Settlement figure paid) but Im guessing that trying to get confirmation and an explanation to the loan settlement would be a complete and utter nightmare

It should not be as they are really obliged to do this if you never had any confirmation when you settled. Even if you did then they should still send you the exact breakdown as this is your right I would think. If not you can go for the complete SAR from them.

StokiePotter

Marshallka,

Is there any chance you could cast your eyes over a letter I intend on sending to Citi today?

I knew I should have got a 3rd party involved to sort this claim for me :-)

marshallka

StokiePotter wrote: »

Marshallka,

Is there any chance you could cast your eyes over a letter I intend on sending to Citi today?

I knew I should have got a 3rd party involved to sort this claim for me :-)

Yeah, fire away.;)

StokiePotter

marshallka,

Ive sent you a PM.... Obviously I know that the figures probably arent "bob on" but its down to them to prove what Ive paid etc, so if they reject my request Ill obviously expect a full breakdown and explanation of what they owe me?

Just wondered If I should follow the route of contractual interest? Obviously at a rate of 50% I should expect a hefty sum back, I have lost all patience with them now, they were very quick to "Rip me off!" maybe I should get all I can back of them and give them a taste of their own medicine?

marshallka

StokiePotter wrote: »

marshallka,

Ive sent you a PM.... Obviously I know that the figures probably arent "bob on" but its down to them to prove what Ive paid etc, so if they reject my request Ill obviously expect a full breakdown and explanation of what they owe me?

Just wondered If I should follow the route of contractual interest? Obviously at a rate of 50% I should expect a hefty sum back, I have lost all patience with them now, they were very quick to "Rip me off!" maybe I should get all I can back of them and give them a taste of their own medicine?

Hi, the letter looks fine and states about you "knowing" rule 78 so good. I have no idea on this contractual interest TBH and have always worked on this simple interest but perhaps someone who does know will be along to post.