jax007 v Citicard

[jax007]

Am sending request for claiming penalty charges on this account and attach Request for Refund letter and Spreadsheet.

Am assuming this letter is still relevant and should I send spreadsheet with this initial letter?

On a second note with this account it was in arrears in 2008/2009 but payments have been made regularly and on time by direct debit for the last 9 or 10 months or so. On 2 September Citi sold the account to Cabot (why??? I really don't know).

However (and totally by coincidence!) a lump sum was paid on 3 September and the final balance was paid by direct debit on 6 September leaving a NIL balance which Citi acknowledged.

The statement from Cabot shows only the D/D payment on 6 September but not the lump sum on 3rd and Citi have made no attempt to correct the matter or inform Cabot that they basically now own a settled account.

The important point here - is do Citi and/or Cabot have to correct my credit file which shows I own a Cabot credit card (is there such a thing??)

[middenmess]

Re: jax007 v Citicard

Why only 11.3% APR?

[jax007]

Re: jax007 v Citicard

Why only 11.3% APR?

That's what the interest is currently or rather whilst the account was running up to 6 September.

[middenmess]

Re: jax007 v Citicard

11.3% APR.That's what the interest is currently or rather whilst the account was running up to 6 September.

Read more at: Legal Beagles Consumer Forum - Reply to Topic

Couldn't believe it was so low as you obviously had a bit of a chequered history of late repayments etc etc and I was used to seeing APRs in the high 20's or more for similarly run accounts. 11.3% APR is a rate that most on here can only dream about!

As they're playing silly buggers at the moment I would have considered claiming at the above and giving them 14 days to settle and advising that if not settled then you would be amending your request to a claim at the higher cash rate of interest plus SI at 8%.

[jax007]

Re: jax007 v Citicard

Couldn't believe it was so low as you obviously had a bit of a chequered history of late repayments etc etc and I was used to seeing APRs in the high 20's or more for similarly run accounts. 11.3% APR is a rate that most on here can only dream about!

Oh ... that more of my cards were at this rate!!!

Actually checking back on the statements the 11.3% for purchases and cash came in in September 2005 - up until that date (ie from April 2003) it was 11.9% for purchases and 13.3% for cash but it's going to be difficult to calculate and in all honesty I can't really apply a 13.3% rate across the board for the whole period to April 2010 can I???

[middenmess]

Re: jax007 v Citicard

IMO. You could but as its not that much higher it's probably not worth the effort and fight.

I just imagined it to be much higher!

11.3% !!! :tinysmile_aha_t: 13.3% !!! :tinysmile_aha_t: Oh to live in that world

[jax007]

Re: jax007 v Citicard

11.3% !!! :tinysmile_aha_t: 13.3% !!! :tinysmile_aha_t: Oh to live in that world

Seems light years ago LOL!!

Makes an overall difference of about £200

Yep ... most of my other cards are up in the high 20s

[WendyB]

Re: jax007 v Citicard

I know from when i did my Citi claim about 3 years ago they play hardball and will only refund the difference down the the £12 that charges are now. I believe they've managed to get a figure of £13.24 or something similar accepted in Court. I would be very wary of going down the compound route with this one.

Just my opinion.

Anyway Jax how's things? drop me an email, be nice to have a catch up x

[jax007]

Re: jax007 v Citicard

Thanx for this Wends - yes I think you might be right - I have a letter stating something to that effect - I'll dig it out and post up.

Do you think the letter I'm is OK - it's from the templates.

Also FYI Citi are offering £800 full and final - which is obviously not all the charges in full and quite clearly NO interest whatsoever! Be nice to get the figure up somewhat.

I'm doing good so far - will email you (probably later now as off to Manchester to visit a sick friend).

Catch up soon hun
xx

[WendyB]

Re: jax007 v Citicard

Jax, the letter looks fine to me, and yes send the spreadsheet with it. I really can't see them offering the charges in full tbh. From what I remember their usual is to offer the difference above the £12. I seem to remember they sent me a cheque but i had a nil balance with them at the time. i did send another letter asking for the remaninder of the charges (i.e all the £12's) but didn't follow it up as it looked like a tough nut to crack and I couldn't be bothered. I would think that they will deduct from teh outstanding balance though, rather than send you a cheque.

[jax007]

Re: jax007 v Citicard

I would think that they will deduct from teh outstanding balance though, rather than send you a cheque.

It's a zero balance hun

only refund the difference down the the £12 that charges are now. I believe they've managed to get a figure of £13.24 or something similar accepted in Court.

Yep - last letter from them (can't put me hands on it at the minute) alluded to court cases where they had been successful in defending these costs

xx

[WendyB]

Re: jax007 v Citicard

Sooooo, if I were in your shoes I would take whatever they offer, unless you can be arsed withn a major fight, which you may not win. Remember, 100% of something is far far better than 100% of sod all x

[jax007]

Re: jax007 v Citicard

Still waiting to hear back from these creeps re the bank charges refund ... they're now offering an insulting £292 inc 8% saying there are only 16 charges, when there are 59 and they are only refunding the difference between £25 and £12 on 16 charges.

Charges total £1122 (albeit some over 6 year threshold) and they originally offered £800 without a spreadsheet!!

They do say (as per Wendy's post) .... "It is our view that the charges set out in the Agreement are a genuine pre-estimate of the loss caused to Citi when a customer breaks the terms of their Agreement."

Have LBA'd them - see what comes back????????

On another note - re my first post - Cabot charged £12.97 interest on this 'debt' they bought from Citi as Citi did not bother to inform them that on 6 September the account had a NIL balance (Cabot were still showing a £1700 balance as late as November despite several letters to both Citi asking them to inform Cabot balance had been paid - which they never have bothered to - and to Cabot repeatedly telling them the account had been settled).

The £12.97 was duly paid to prevent further bad stuff on the old CRF but I proceeded to claim this back (despite a friend saying to me their time was worth more than the interest charge and they wouldn't bother with the hassle)and I eventually received a cheque for £24+ - so not all in vain (after all, if they had bought, say, 1000 debts and each one got spurious interest charges of £13 ................ well, nice little earner, eh?).

No explanation, no apology, and absolutely zilch from Citi - still can't have everything, can we??

[jax007]

Re: jax007 v Citicard

I'd be grateful for an opinion on this ..........

Citi reply September 2010 (letter)
Applied for refund of charges back in September 2010 and got a reply from Citi offering £800 (no explanation of how they arrived at that figure).

Having not got my house in order, I wrote to them again early 2011 and they replied offering total refund of £292.11 including 8% interest based on 16 defaults. Hmmm ... methinks .... where did that figure come from??

Subsequently in March 2011 I received a letter acknowledging their mistake by creating another 'case file' on this and reverted to their letter of September 2010, ie the offer of £800

Having written back informing them that there were some 59 defaults and not 16 they subsequently replied with the letter of 15 July 2011 offering again £800 - see 4th paragraph .... "even though the charges incurred on your account were considerably more".

Now my question is .... on the basis they have actually admitted there were more charges than they are offering in refund, would you think I have a reasonable case in securing full payment of all charges (with or without interest) as the charges come to considerably more than the £800 offered.

If, yes, you think I have a good chance - would I be better going down the Ombudsman route or court?

I have heard that Citi have 'successfully(?)' shown their costs involved with the defaults to be quite high in these cases.

[WendyB]

Re: jax007 v Citicard

Jax, I'm on my phone cos I've been at work till 10.30 and now I'm just chilling with a glass of vino and cba to boot up the lappy. But when I get into work atbthe day job tomorrow I'll have a proper look, as long as the boss isn't in. Without looking at your spreadies though (can't open them on phone) my initial thoughts are that if there's 59 charges the most they would offer is 59 x the diff between the total charge and £12. From what I remember their original charges were £20, but I could be wrong. So that would be 59 x 8 which would be £472 minimum. So £800 would seem a good deal. I'll have a look in more detail tomorrow and get back to you. Once again though, I stress that if it were me I wouldn't even think about compound with this mob and I personally wouldn't take it to a courtroom either. As there's a nil balance anything you get will be a result.