Ppi from Citi?

wolvesmat

I have been chasing some of my old creditors for PPI refunds just lately. Some of which are from loans going back to 1999 !
1 of these with Citi Financial. I'm at the stage where they have confirmed that there was a PPI policy with the account and they are honouring my complaint I'm just waiting for their offer.
I am quite surprised that they have accepted my complaint as for 1 reason it was taken out back in 1999 and secondly the loan it was on was not Citi Financial at the time but a separate finance company that was taken over by Citi Financial.

The company I took the loan out with changed names a couple of times but was trading as associate loans,
The Assosciates, Avco Assosciates or similar.

I had a real bad experience with these as a 20 year old not very streetwise and rather naive and not thinking that a reputable looking company working in a city centre branch would extort me the way these operated.
A really friendly lady selling me the loan.
In my own stupidity I should have read thoroughly through the Credit agreement but in all honesty I was never shown one I was just told to sign the form here
And there was definitely nothing on that page with a breakdown of the loan, Apr amount, number of monthly payments, total payable or any additional fees.
Cus if this was the case I'd never agreed to the loan.
After all back in 1999 payday loans with Apr of 1500% weren't heard of.
At the time of taking out the loan the only values I was aware of was the loan amount of £500 and the monthly repayments of £100.
I just assumed that it must have been over 12 months.
Which seemed a little high at the time but I accepted it.
Not ever receiving a copy of the Credit agreement or any statements after a year of repayments thinking I was close to finishing I phoned them up for a remaining balance to be told there was still £2500
With 25 payments remaining.
I laughed i think you've made a mistake there, I only had a loan for £500 and been paying back for a year ?
No it's correct she replied. In shock I said can't be possible that must have Apr of 400% . Angered I threatened to stop paying but they started bullying my mom threatening to send bailiffs round in end I paid them off.
Back to the point when I found I had a complaint being upheld from this I finally feel that justice has been done although the amount I'll get to a company the size of Citi will probably be less than the value of paper used in a day to print cheques they issue also I do feel it unfair that City will pay for the wrongs of separate company it took over.
When filling out CitiFinancial complaint form it asked why I feel I was mis sold the PPI policy. I replied it's wasn't just the PPI but the whole loan was missold
I was wondering if anyone had a similar experience and gone on to get a refund for PPI and how much you received

As I never had any statement for the loan I don't know how much Apr or any other fees were.
Just that the loan amount was £500 with 36 monthly payments of £100 total repay £3600 equalling £3100 in interest, PPI and all other fees.

Just wondered if anyone with similar experience or anyone have an idea how much the refund could be worth
Thanks

-taff

No one knows.

Nasqueron

Whatever the refund it would be detailed on your letter and keep in mind they can offset any refund against unpaid debts in many circumstances, so wait and see what they offer

[Deleted User]

wolvesmat wrote: »

Not ever receiving a copy of the Credit agreement or any statements after a year of repayments

Remarkable that no mail from financial institutions ever seems to have reached you.

In each of your threads you complain for example that LOAs were never signed, you were never given Credit Agreements and that you "suddenly" owed thousands of £s.

You seem to be incredibly unlucky with the post...

PaulW922

I had a credit card with The Associates in the late 1990s - Citi still had details of it late last year - no PPI on it though.