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  • FIRST POST
    • bottleofred
    • By bottleofred 4th Feb 18, 2:47 PM
    • 2,876Posts
    • 13,686Thanks
    bottleofred
    PPI Claim
    • #1
    • 4th Feb 18, 2:47 PM
    PPI Claim 4th Feb 18 at 2:47 PM
    Hi Folks,

    I made a PPI claim for a Credit Card from years ago against Citibank. I hadn't realised they were owned by Egg, who I previously had a defaulted loan with, that was settled for a reduced amount to a DCA. I received a letter stating that as I have an account that is now owned by an SAV, they have forwarded the PPI request onto them for action. Has anyone any idea if this means the usual phone calls and letters will start again? The full and final settlement for the debt was agreed and paid at least 10 years ago!
    If you've nothing decent to say, perhaps you shouldn't say anything.

    2 savings jar 300
    Total credit card debts 1250 - Will I ever learn!!
Page 1
    • sourcrates
    • By sourcrates 4th Feb 18, 3:22 PM
    • 13,709 Posts
    • 13,040 Thanks
    sourcrates
    • #2
    • 4th Feb 18, 3:22 PM
    • #2
    • 4th Feb 18, 3:22 PM
    The original debt would be statute barred after 6 years anyway, who have they forwarded the request to ?

    Dont completely understand your post.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • bottleofred
    • By bottleofred 4th Feb 18, 3:43 PM
    • 2,876 Posts
    • 13,686 Thanks
    bottleofred
    • #3
    • 4th Feb 18, 3:43 PM
    • #3
    • 4th Feb 18, 3:43 PM
    Thanks for the reply. The letter states "that as you have an account that is now owned by SAV we have forwarded your request onto them for action". The full and final settlement was made to a debt collection agency at least 10 years ago, when Egg had sold on the previous debt.
    Last edited by bottleofred; 04-02-2018 at 3:46 PM.
    If you've nothing decent to say, perhaps you shouldn't say anything.

    2 savings jar 300
    Total credit card debts 1250 - Will I ever learn!!
    • sourcrates
    • By sourcrates 4th Feb 18, 4:07 PM
    • 13,709 Posts
    • 13,040 Thanks
    sourcrates
    • #4
    • 4th Feb 18, 4:07 PM
    • #4
    • 4th Feb 18, 4:07 PM
    Its my understanding that its the original creditor that deals with PPI complaints.

    After all, how can a company that was not originally a party to the transaction, settle a complaint about something they were not even involved in ?

    I have a feeling this will be going to the ombudsman.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • TrickyDicky101
    • By TrickyDicky101 4th Feb 18, 4:45 PM
    • 2,982 Posts
    • 1,922 Thanks
    TrickyDicky101
    • #5
    • 4th Feb 18, 4:45 PM
    • #5
    • 4th Feb 18, 4:45 PM
    It sounds to me as if Citi is implying any redress would first and foremost go to SAV to settle any amounts not fully repaid. OP, can you ask Citi for clarification if this is what they mean?
    • bottleofred
    • By bottleofred 4th Feb 18, 7:42 PM
    • 2,876 Posts
    • 13,686 Thanks
    bottleofred
    • #6
    • 4th Feb 18, 7:42 PM
    • #6
    • 4th Feb 18, 7:42 PM
    I think that it's maybe their way of getting out of paying any PPI if indeed there is any due. I have to admit that I'd be concerned about any PPI payment going to the account that was settled with the DCA though, as it may open the 6 year rule again! They have used the initials SAV though and I have no idea what that is! It appears the intention is to save the bank money! Just my opinion though!
    If you've nothing decent to say, perhaps you shouldn't say anything.

    2 savings jar 300
    Total credit card debts 1250 - Will I ever learn!!
    • dumpyboy
    • By dumpyboy 4th Feb 18, 8:30 PM
    • 369 Posts
    • 85 Thanks
    dumpyboy
    • #7
    • 4th Feb 18, 8:30 PM
    • #7
    • 4th Feb 18, 8:30 PM
    I had ppi on a Lombard loan, they refused to pay out when I lost my job as said I was only short term contract worker, two years latter tried ppi claim rejected went to the ombudsman was upheld , when Lombard settled they took the difference from around 700 outstanding when they sold it for 275 what it was wrote off for,( I assume this is what they got when sold it) ( after makeing payments for 18 months of about 9 pound settled for full and final of 270 pound) went back to the ombudsman who made them pay full amount refunded and a further 100 pound comperstion , there ruleing was it was not relevant that the loan was sold on for a loss Lombard had incorrectly sold the ppi so a full refund plus 8 percent should have been paid in full, hope this helps
  • National Debtline
    • #8
    • 5th Feb 18, 11:05 AM
    • #8
    • 5th Feb 18, 11:05 AM
    Hi bottleofred


    A PPI claim on a credit card should have no bearing on a full & final settlement already made on a loan, even if they were originally with the same company.


    Hopefully you still have the letter confirming the full & final settlement just in case you are ever contacted about it in the future. But as sourcrates says, if the loan was settled 10 years ago, the chances are it is probably statute barred by now (assuming it was an unsecured loan).


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • zx81
    • By zx81 5th Feb 18, 11:10 AM
    • 16,354 Posts
    • 17,380 Thanks
    zx81
    • #9
    • 5th Feb 18, 11:10 AM
    • #9
    • 5th Feb 18, 11:10 AM
    They have used the initials SAV though and I have no idea what that is!
    Originally posted by bottleofred
    They mean SAV Credit, which then became NewDay. They bought the Citi book and took on responsibility for PPI sales as Citi were exiting the UK.

    It's unlikely they will still have a record of your account though.
    • bottleofred
    • By bottleofred 5th Feb 18, 7:34 PM
    • 2,876 Posts
    • 13,686 Thanks
    bottleofred
    Thanks for all the replies. The loan was settled through a company called Stirling Financial Services in the UK. I'm not sure if they are still in Business or if I have the details of the settled amount, but will certainly investigate this, as it is obviously an attempt to get out of paying any PPI that is due.
    If you've nothing decent to say, perhaps you shouldn't say anything.

    2 savings jar 300
    Total credit card debts 1250 - Will I ever learn!!
    • bottleofred
    • By bottleofred 5th Feb 18, 7:39 PM
    • 2,876 Posts
    • 13,686 Thanks
    bottleofred
    Hi bottleofred


    A PPI claim on a credit card should have no bearing on a full & final settlement already made on a loan, even if they were originally with the same company.


    Hopefully you still have the letter confirming the full & final settlement just in case you are ever contacted about it in the future. But as sourcrates says, if the loan was settled 10 years ago, the chances are it is probably statute barred by now (assuming it was an unsecured loan).


    Susie
    @natdebtline
    Originally posted by National Debtline
    Hi Susie,

    Thanks for the reply and advice. The loan was unsecured and I'd guess it was closer to 12 years ago that the full and final settlement amount was agreed and paid. It was paid through a company in the UK called Sterling Financial Services and I will look for the settlement letter and their contact details. I have found the settlement offer letter which was from April 2005, so I'd guess I paid in late April or Early May 2005. Annoyingly, I cannot find the settlement letter, but I think I should be able to get a copy of the cheque from the Bank, as Sterling Financial Services don't appear to be in Business anymore!
    Last edited by bottleofred; 05-02-2018 at 9:02 PM.
    If you've nothing decent to say, perhaps you shouldn't say anything.

    2 savings jar 300
    Total credit card debts 1250 - Will I ever learn!!
    • bottleofred
    • By bottleofred 7th Feb 18, 6:59 PM
    • 2,876 Posts
    • 13,686 Thanks
    bottleofred
    It sounds to me as if Citi is implying any redress would first and foremost go to SAV to settle any amounts not fully repaid. OP, can you ask Citi for clarification if this is what they mean?
    Originally posted by TrickyDicky101
    It sounds to me that is what they mean and they probably hope that by sending these letters that people will just give up.
    If you've nothing decent to say, perhaps you shouldn't say anything.

    2 savings jar 300
    Total credit card debts 1250 - Will I ever learn!!
    • bottleofred
    • By bottleofred 28th Feb 18, 2:53 PM
    • 2,876 Posts
    • 13,686 Thanks
    bottleofred
    Hi folks, I wanted to provide an update. After speaking to the Financial Ombudsman, they have informed me that Canada Square Operations have the right to any PPI claim due to an outstanding amount on the account.
    If you've nothing decent to say, perhaps you shouldn't say anything.

    2 savings jar 300
    Total credit card debts 1250 - Will I ever learn!!
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