PPI claim with citifinancial when loan was settled with debt collection agency

Samdaniow1

Good evening all

I am after some advice regarding applying to reclaim misold ppi.

I took out a loan for £3000 (with ppi) with citifinancial in approximately 2003 (i dont have any paperwork for this) which I refinanced to increase the loan to £4,600 in 2005 (for which I have the signed application and ppi form). It details that I took out PPi (£445) but if I remember rightly I was told I had to have this in order to have the loan. I was young, stupid and desperate so agreed and signed away! At the time I was working in full time employment for the local authority with the conditions of 12 months paid sickness and redundancy payment should the event arise. I defaulted on the loan and it was forwarded to a collection agent, I don't remember who but I know I settled the balance through them about 3 years ago.

I have received an application form from citi detailing the complaints procedure and asking details as to how I was sold it.

What i want to know is can I still apply for this even if the debt was settled with a collection agency?

Thank you in advance!

[Deleted User]

Samdaniow1 wrote: »

What i want to know is can I still apply for this even if the debt was settled with a collection agency?

You don't "apply", you need to make a valid mis-selling complaint.
There is nothing to stop you making such a complaint, but if there were monies or interest written off as part of your default then there is every likelihood that the Bank will off set against any redress you may be awarded.
http://www.moneysavingexpert.com/banking/setting-off

In addition, you have a very weak "hearsay" complaint for which you can provide no evidence. There really is also little point in mentioning that you were "young and stupid" at the time.