Reclaim PPI 1st credit finance - Citifinancial

tigertech

I was hoping to get some assistance in where / how to start a ppi claim. Years ago I had a loan with avco whereas I can recall being bullied into taking ppi by the rep that came out to my home.

The home I owned with my partner we split up a few months later where I moved and never contacted avco again hoping at the time the debt would simply disappear which was stupid looking back.

Around 5 years later when we eventually sorted a divorce it was disclosed that 1st credit finance – citifinacial had gone to court and placed a charging order (I think it was called) against the property which would remain until the debt was settled or the house was sold.

My ex eventually settled on the house with me and I was able to pay the debt of on the 28th march 2013 , which I have the paperwork for. I do not have the original loan papers only for the debt being settled against the house to remove the order.

Am I right in thinking I can put a ppi claim in and if so how do I get started , I apologise for the question but there's so much info on this board its mind boggling where to start and would appreciate a hand if possible.

As i cant paste a image of letter this is rough copy of the important stuff :-

"Connaught Collections
The Omnibus building
lesbourne road
reigate
RH2 7JP

RE : Referance
Claim No:
Client : Client 1st Credit (finance) Ltd - Citifinancial Europe
Property :

We attach cheque in the sum of £3,878,57 being the balance payable and would be grateful if you could lodge appropiate documentation with the land registery to remove your restriction against title no.

Yours faithfully"

[Deleted User]

tigertech wrote: »

Am I right in thinking I can put a ppi claim in

Are you certain you had PPI?

The rest of your story is incidental.

If you did have PPI, what is your complaint? "Bullying" is not a valid complaint since you could have cancelled the insurance..

tigertech

Moneyineptitude wrote: »

Are you certain you had PPI?

The rest of your story is incidental.

If you did have PPI, what is your complaint? "Bullying" is not a valid complaint since you could have cancelled the insurance..

yes im certain i had ppi , i lost my job at the time which is why i moved out of the property so my ex could take it over.

Thank you for your response.

A friend of mine also had same loan at the time and reclaimed money but he used a company and cant remember which one as it was a few years ago.

[Deleted User]

tigertech wrote: »

yes im certain i had ppi , i lost my job at the time which is why i moved out of the property

Why didn't you claim on the insurance when you lost your job?

As you defaulted on this loan, any redress should it be awarded would first go against any unpaid debt. This includes any interest they wrote off as final settlement.

It's also likely to be a pre-regulation (2005) which means they can dismiss your complaint without considering it.

Do not under any circumstances use a claim company. If PPI redress is offset against the debt, you could end up with nothing but still have the claims company fees to pay.

tigertech

Moneyineptitude wrote: »

Why didn't you claim on the insurance when you lost your job?

As you defaulted on this loan, any redress should it be awarded would first go against any unpaid debt. This includes any interest they wrote off as final settlement.

It's also likely to be a pre-regulation (2005) which means they can dismiss your complaint without considering it.

Do not under any circumstances use a claim company. If PPI redress is offset against the debt, you could end up with nothing but still have the claims company fees to pay.

The debt as mentioned was paid in full by myself on the 28th march 2013 to connaught collections acting on behalf of 1st credit finance limited- citifinancial.

I dident claim on the insurance because i was young and foolish and hoped the debt would just dissapear if i remember rightly.

Again thank you for taking the time to respond

Would i need to raise this claim with 1st credit - citifinancial or connaught as they were acting on there behalf and who the debt was paid in full to.

[Deleted User]

tigertech wrote: »

The debt as mentioned was paid in full

There would have been a considerable amount of interest. Was that written off or did you pay that too?

Any PPI mis-selling complaint must go to the original seller of the insurance..

tigertech

Moneyineptitude wrote: »

There would have been a considerable amount of interest. Was that written off or did you pay that too?

Any PPI mis-selling complaint must go to the original seller of the insurance..

I also paid the interest , the full amount included costs for chasing me and court etc. The original seller i believe AVCO was absorbed by 1st credit / citi financial.

Again thank you for your response and helping me.

-taff

Whoever sold you the insurance is liable.

In your case, it sounds like they weren't regulated.