CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

[millymollymoo]

Firstly can I say hello, its been a long while since I posted on here and am not sure anyone will remember me exceptions for Bill-K whom I am in contact with

I wonder if you could help me regard to a debt and Default registered on all 3 CRA's wholly made up of penalty charges and PPI and interest for my O/H?



He had a credit card with Citicard which he sent a letter off for the credit agreement in 2008. They never answered and he stopped paying in January 2010 due to me spending Christmas in Barts hospital. He let things slide as this was not on direct debit by no contact until it was too late and I was unable to help him due to hospitalisation for the last year and half of years.

I have been out of the flow for such along time.

The debt has been taken over by Cabot, no notice of assignment or Default has ever been received from Citicard (I checked) or information regarding this from Cabot. He has a few template letters from them. Oh before this he had letters from CLARITY offering 30 % off the balance.

I have saved old templates I formerly used in credit card claims before, however,am not sure of current changes or if indeed they are suitable now as I was very actively involved a few years ago and could help anyone. I do aim to do this again

I really want to help him get this default removed.

Here is where I am at:

I have already sent a prelim on the PPI to CITICARD




Penalty Charges to CitiCard



and a letter to Cabot,



I have received a standard we have received your complaint letter for both claims from CITICARD ,whom I might add they wish to confuse me as they have a internal ref on each with no reference to what complaint it is. So much for sending seperate claims


No reply from CABOT yet




all letters sent recorded on 31st March 11 both claims have been sent seperately.

I have been told that court action is not the preferable and that both could be combined as one claim by Bill. I need help as what to do next pleaseeee




Milly Xxx

[millymollymoo]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Didn't realise it was so late and am off to bed. Apologies in advance to anyone if they reply

[TUTTSI]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Hi Milly,

I remember you hun....... long time no see but good to see you again.:tinysmile_grin_t:

Someone with more knowledge will no doubt be along soon hun.

Tuttsi xxxx

[Turboman]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Hi millymollymoo

Any friend of Tutts is a friend of mine-lol

PM'ing Di30 for you hun

Turbs

[millymollymoo]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Hi Milly,

I remember you hun....... long time no see but good to see you again.:tinysmile_grin_t:

Someone with more knowledge will no doubt be along soon hun.

Tuttsi xxxx

Hiya Hun have sent you a message Xxxxxx
------------------------------- merged -------------------------------

Hi millymollymoo

Any friend of Tutts is a friend of mine-lol

PM'ing Di30 for you hun

Turbs

Awww Thanks TB absolutely the same here

Milly xxx

[Angry Cat]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Welcome millymollymoo!

I remember you also

http://www.ico.gov.uk/upload/documen...3%20%20doc.pdf

Scroll down to Unresolved Disputes #16

[di30]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Hiya

Hope your well.

So sorry to hear of your issues.

In regards of the PPI they have 8 weeks to send a decision.
And the same for the others too.

As you have already made a start that is cool.

I do believe you should receive acknowledgement letters though by a week or a fortnight of sending the letters.
I take it you also posted by signed for recorded delivery?

[TUTTSI]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Hi Milly

It is a bit of a long thread on PPI but if you find some time have a read.

http://www.legalbeagles.info/forums/...ad.php?t=24880

[Bill-K]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Hi Milly

Good to see you again. I try and stick to figures, but this is my humble opinion regarding your claim. We have the option with PPI claims to refer them to the FOS for adjudication instead of the courts - but the choice is ours.

I always prefer the FOS route because:
there is absolutely no cost, or risk of being liable for costs;
they have a standardised method of adjudicating PPI claims, which is largely accepted by the lenders;
you are not obliged to accept their adjudication if you disagree;
you can still claim via the courts, whether or not the FOS have adjudicated;
if you do decide to claim in court, then the FOS adjudication can be taken into account.

The down side of the FOS route is that it can take some time to resolve, as the FOS are inundated with claims - but there is no guarantee that the court route will be any faster, really. Your choice, though.

The 'traditional' approach to making multiple bank charges reclaims has been to keep all claims separate, so that each claim is judged on its' own merits. However, with PPI, the FOS approach is to "put the consumer in the position they would have been in if they had taken out the loan(s) without any mis-sold PPI - and to compensate them if they have been out-of-pocket in the meantime."

This, to me, means that all losses suffered by the consumer as a result of the mis-sold PPI must be redressed. This, in my opinion, should include any other losses suffered as a consequence of the mis-sold PPI, such as penalty charges made to the loan account, which were a direct result of the PPI. There is also, I believe, an argument for reclaiming charges made to other accounts, where the cause can be shown to be the mis-sold PPI - but this has yet to be established.

Where PPI has been mis-sold on several loans taken out in sequence, the FOS preference is to consider the entire sequence of loans as one claim.

Therefore, I believe that it is better to combine all claims relating to a particular case of mis-sold PPI, and that the FOS support this approach.

The first thing to do is to decide on what grounds you believe the PPI to have been mis-sold. The next is to make your claim for repayment and redress. If the the lender accepts they mis-sold the PPI, then we need to calculate what we are prepared to accept in settlement. If the lender disputes the claim, or makes an unacceptable offer, then we may have to refer the claim to the FOS - or to Court.

As you have already sent Citi your claim, then we need to see what their response is, and then decide on our next step. Have you filled in a spreadsheet with your PPI and charges, yet ?

[Bill-K]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Further to my post above, it appears that you have reclaimed your penalty charges separately on the 'traditional' grounds that they were unfair and unreasonable. Citi MAY combine this with the PPI claim, but you may have a choice here.

Option #1 - keep this claim for penalties separate, as it is. This would mean that you are reclaiming ALL penalties debited to the account on the grounds that they were unfair, etc. BUT, it would mean that you would not be able to get the FOS to adjudicate on this claim, and the court process is your only option if the claim is refuted.

Option #2 - combine this claim with the PPI claim. This would mean that you are reclaiming ONLY the penalties which were a result of the PPI, and this should then be supported by the FOS. To decide, you may need to work out how many of the penalties can be attributed to the PPI. If most of them, then I would suggest you take this option - but if too few of them come into this category, then maybe option #1 would be better.

If you decide to take option #2, then I can see no reason why you shouldn't be able to revise your claim "as a result of taking further advice."

[millymollymoo]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Welcome millymollymoo!

I remember you also

http://www.ico.gov.uk/upload/documen...3%20%20doc.pdf

Scroll down to Unresolved Disputes #16

Hiya Angry Cat

I remember you too!

Thankyou for the ICO info, its looking that the Default then mayend up removed eventually.

I have already contacted the CRA's (except Equifax, still to do) disputing the Default as is made up of penalty charges/PPI and interest. In fact they owe my O/H monet.

A few weeks ago Cabot did say to the CRA agent that at the moment it will stay on CallCredit and to contact them. They seem unsure me thinks as to whether the default was correct Mind you since I hear that Cabot has been sold, so probably explains why I have had no reply to the letter sent after that info. (the letter is in the first post)
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Hi Milly

It is a bit of a long thread on PPI but if you find some time have a read.

http://www.legalbeagles.info/forums/...ad.php?t=24880

Thank you!

I will have a read shortly
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Hiya

Hope your well.

So sorry to hear of your issues.

In regards of the PPI they have 8 weeks to send a decision.
And the same for the others too.

As you have already made a start that is cool.

I do believe you should receive acknowledgement letters though by a week or a fortnight of sending the letters.
I take it you also posted by signed for recorded delivery?

Hi there di30

I have received replies from Citicard on Saturday just gone, duplicate complaint letters with internal refs requesting 8 weeks. I only gave 14 days for the Penalty Charges and in a dilemma as to whether to combine or not.

I heard that Compounded Interest should still be applied as this CreditCard PPI did compound the premium monthly. I did claim that on the schedules sent.
------------------------------- merged -------------------------------

Hiya

Hope your well.

So sorry to hear of your issues.

In regards of the PPI they have 8 weeks to send a decision.
And the same for the others too.

As you have already made a start that is cool.

I do believe you should receive acknowledgement letters though by a week or a fortnight of sending the letters.
I take it you also posted by signed for recorded delivery?

Hi there di30

I have received replies from Citicard on Saturday just gone, duplicate complaint letters with internal refs requesting 8 weeks.
I only gave 14 days for the Penalty Charges and in a dilemma as to whether to combine or not.

Not heard from Cabot, but I hear they have been sold.

I heard that Compounded Interest should still be applied as this CreditCard PPI did compound the premium monthly. I did claim that on the schedules sent.
------------------------------- merged -------------------------------
ooh weird I keep merging postys and don't know how I'm doing it

[millymollymoo]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Further to my post above, it appears that you have reclaimed your penalty charges separately on the 'traditional' grounds that they were unfair and unreasonable. Citi MAY combine this with the PPI claim, but you may have a choice here.

Option #1 - keep this claim for penalties separate, as it is. This would mean that you are reclaiming ALL penalties debited to the account on the grounds that they were unfair, etc. BUT, it would mean that you would not be able to get the FOS to adjudicate on this claim, and the court process is your only option if the claim is refuted.

Option #2 - combine this claim with the PPI claim. This would mean that you are reclaiming ONLY the penalties which were a result of the PPI, and this should then be supported by the FOS. To decide, you may need to work out how many of the penalties can be attributed to the PPI. If most of them, then I would suggest you take this option - but if too few of them come into this category, then maybe option #1 would be better.

If you decide to take option #2, then I can see no reason why you shouldn't be able to revise your claim "as a result of taking further advice."

Hello Bill :tung:

I have looked at both the schedules the PPI was charged 11th May 2005 to 11th October 2006.

The penalty charges started from Feb 2006 - Jan 2010 so I think that is good grounds to say that the balance had grown considerably because of this unwanted PPI causing higher interest to be charged on the balance . The Late Payment AND overlimit fees were every month near enough thereafter.

I don't mind taking the FOS route as less hassle, which I probably need really. What about the interest as I charged Opus's standard rate which is 34.40% as i found out from their website that Citicard got rid of the cards and I couldn't get there standard rate, which if the card was still going would of been exactly what they charged as the debt would of been triple the amount!!!

I made a bit if a boo boo in the letter as I said UNAUTHORISED RATE which it is not.

Have you had aread of the PPI letter I sent. Are those reasons good enough to claim the Insurance as Mis-sold??


Aaah feels good to be back amongst some really nice people Bill

Love Milly Xxxxxxxxxx

[Bill-K]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

I heard that Compounded Interest should still be applied as this CreditCard PPI did compound the premium monthly. I did claim that on the schedules sent.
------------------------------- merged -------------------------------
ooh weird I keep merging postys and don't know how I'm doing it

Don't worry, Milly - if you make several posts in rapid succession, the software 'auto-merges' them. It's nice to see old friends 'doing the business' here again, too !!!

When we reclaim the 'apportioned' debited account interest, it doesn't matter what method or rate was used, as we are simply claiming back a portion of what was actually charged to the account. However, we also claim 'compensatory' interest on this - and this is usually at the Statutory rate of 8% simple. Any higher rate - or a compounded rate - is not normally supported by the FOS, and would probably need to be claimed through the courts, and argued for convincingly, too. It looks like you may have claimed this interest at the contractual rate, in which case we may have to be ready for a revision of the figures.

As you have already sent them a PPI claim letter, with your reasons for considering the PPI to have been mis-sold, then we really just have to wait and see if they accept it was mis-sold. Your reasons seem good enough to me, Milly. Meanwhile, maybe we can check out the figures and decide if we want to revise the claim, and/or combine the PPI and penalties. Late payment fees would be difficult to claim, but overlimit should be OK.

[millymollymoo]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

OOPS put the wrong PPI letter up that was the 1st one I typed before editing. I will post up the one sent shortly. I actually only gave then 14 days, followed by another letter within 14 days. Read and you will see.

[millymollymoo]

Re: CITICARD PPI/ PENALTY CHARGES and CABOT TOO!!!

Here is the actual PPI letter sent, without typo's and slightly diffent ending.





Have a read . Are they good enough reasons to say it was mis-sold. The card was already covered by the bank account.