Citibank/Opus

[malplaquet]

In February 2010, I made an arrangement with Citibank to pay off my balance owing to them at the rate of £126.00 pcm., with the interest to be frozen.

This was done by cheque or debit card.

I wrote to Citcard in November, explaining that I was experiencing more financial hardship (due to the business that is the sole source of my income being a) seasonal and b) suffering a severe downturn in orders/income). I requested a payment holiday from the arrangement for three months.

Shortly afterwards I received a letter form Citibank saying that my account had been transferred to Opus (whoever they may be).

I heard nothing back, but received statement from Opus showing me to be in arrears of the £126 monthly payments.

This month I recommenced my previously agreed monthly payment of £126.00, which they accepted.

I have now received a letter from Opus telling me that my agreement/arrangement has been cancelled.

I also see that the interest rate that they intend to charge me will be 34.4% but also that I have been hit with Default sum charges of £84.00.

Citibank have already had a stateent of income and expenditure from me, and had presumably accepted that my case of hardship was genuine.

Any advice would be greatly appreciated.

In short, how could I get Opus to resurrect my agreement with Citibank, if at all; and to refund the charges.

[Caspar]

Re: Citibank/Opus

If you are suffering genuine hardship, then your best bet would probably be to fill in an Income Expenditure sheet (found at top of page) and fill it in. This will reveal your disposable income which would demonstrate your hardship. Send this to Opus with a letter asking them to freeze all interest and charges and offering your repayment plan again, then see what they say.

Are there other factors here? Do you have other creditors who are accepting payments? Are you managing to pay your priority debts etc...

[leclerc]

Re: Citibank/Opus

In February 2010, I made an arrangement with Citibank to pay off my balance owing to them at the rate of £126.00 pcm., with the interest to be frozen.

This was done by cheque or debit card.

I wrote to Citcard in November, explaining that I was experiencing more financial hardship (due to the business that is the sole source of my income being a) seasonal and b) suffering a severe downturn in orders/income). I requested a payment holiday from the arrangement for three months.

Shortly afterwards I received a letter form Citibank saying that my account had been transferred to Opus (whoever they may be).

I heard nothing back, but received statement from Opus showing me to be in arrears of the £126 monthly payments.

This month I recommenced my previously agreed monthly payment of £126.00, which they accepted.

I have now received a letter from Opus telling me that my agreement/arrangement has been cancelled.

I also see that the interest rate that they intend to charge me will be 34.4% but also that I have been hit with Default sum charges of £84.00.

Citibank have already had a stateent of income and expenditure from me, and had presumably accepted that my case of hardship was genuine.

Any advice would be greatly appreciated.

In short, how could I get Opus to resurrect my agreement with Citibank, if at all; and to refund the charges.

Citcards sold their accounts to Opus and Opus immediately put up the rate of interest across their accounts(in spite of their Indian Call centres stating that it was in line with the industry which was total nonsense). I would as Caspar has said complete a new I&E form and send it to opus on the basis that you are offering what you can pay and perhaps explaining that you wrote to Citicard with the information which, surprise surprise, they didn't pass on.
Personally I don't like Opus but we will see how they respond to you first, before making any further comment on them.

[malplaquet]

Re: Citibank/Opus

Thank you, I shall do that.