Citigroup PPI claim declined, account sold on

magpiecottage

UK007BullDog wrote: »

The FOS may just bounce it back to the poster as the case has not yet been investigated to their full satisfaction.

I didn't notice that response. However, if it was Citi that sold the product then it is Citi that must respond to it, in accordance with DISP 1.4. Citi had 8 weeks to do that in accordance with DISP 1.6.2R

In fact Citi should have given the name and details of who the debt/account was sold on to.

Unless it sold on the liability, that is incorrect.

Write or call them and ask to give you the full details of who now holds the account. Then write to that company/lender. They in turn will then write to Citi to get any further information (if any available). Citi will then evaluate and give the answer to the poster. They may want to have all the details regarding the poster being an executor.

That seems a blatant disregard of DISP 1

Its a bit weird, but the company who bought the account is now responsible for the account. By selling the account Citi have washed their hands on it.

Not necessarily. It would depend on the terms of the sale.

If it was as you suggest, I would expect Citi to use DISP 1.7.1R to forward it to the new owner (which it would be required to do promptly) and the new owner to address it in accordance with DISP 1.7.2R

However if only the debt was sold on to a 3rd party then Citi is still responsible. So I think the poster needs to do a bit more digging before contacting the FOS.

No - the OP has made a complaint, waited 8 weeks and received no satisfactory response.

Also the FOS are so swamped with cases it could take a very long time before they would look at it.

True - but it is not the OP's own money so waiting is probably a luxury they can afford.

And then they may just push it away.

Only if Citi can prove that it has no complaint to answer.

Before anyone hammers my response: I used to be a PPI complaints handler for a number of banks and lenders and I also worked for the FOS as an adjudicator.

That does not make you right and I have seen no evidence to suggest that Citi is not responsible for answering the complaint.

Due to health reasons I have left the Financial Services industry.

I am sorry to hear that. Friends at FOS tell me it is a very highly stressed environment.

Not one I would wish to face.

In the end, though, as an executor then, as I say, I would spend 50p on a stamp and go to FOS.

anney63 wrote: »

So in the event of redress will it be paid to the third party or direct to compainanant ??

If the bank wrote off some debt it would retain that amount itself (assuming it was liable).

The rest should be paid to the estate for distribution among creditors.

The third party would join the queue with other creditors.