Citicard

[Dotty50]

New experience for me dealing with Citi but this is for my OH.

 

Having written to them advising of a big drop in income, a letter was recieved asking him to call and discuss options. (I know it is against all advice to ring but he did)!

 

Anyway they appeared to totally ignore the CCCS I & E and asked for amounts totally unaffordable, he didn't agree to anything and I have written another letter advising future communication in writing only.

 

Am now going to have a read on this forum to see how Citi work, but guess they are no different to the rest.

 

I haven't CCA'd but may do it as a matter of course, but it is an old account (may have been Peoples Bank) but can't be 100% sure.

[silverfox1961]

If it helps, I have been waiting for over 16 months to get my agreement (it's with Cabot at the mo)

 

Citi had a massive clear out of documents a few years back so if you have had the card a long time, they may not have a copy.

 

Citi are absolute bu**ers to deal with, They think UK law doesn't apply to them as they are a US company

[Dotty50]

Hi Silverfox,

 

No different to any of the others then I guess!

[Enron]

New experience for me dealing with Citi but this is for my OH.

 

Having written to them advising of a big drop in income, a letter was recieved asking him to call and discuss options. (I know it is against all advice to ring but he did)!

 

Anyway they appeared to totally ignore the CCCS I & E and asked for amounts totally unaffordable, he didn't agree to anything and I have written another letter advising future communication in writing only.

 

Am now going to have a read on this forum to see how Citi work, but guess they are no different to the rest.

 

I haven't CCA'd but may do it as a matter of course, but it is an old account (may have been Peoples Bank) but can't be 100% sure.

 

Sorry for the delay in putting up some details.

 

If Citi are being uncooperative with the situation, then it appears that they are breaking a number of important rules.

 

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

 

2.6f pressurising debtors to pay in full, in unreasonably large instalments,

or to increase payments when they are unable to do so

 

The Lending Code

 

http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf

 

Section 9 Financial Hardship

 

172. In general, subscribers should then be prepared to accept an offer of repayment which is based on the principle of equitable distribution of available income (after priority payments), in line with the amount outstanding to each creditor. Alternative means of calculating the distribution of available income by the customer or their adviser may be agreed on a case-by-case basis. A subscriber may accept an offer of payment, even though the offer is not sufficient to enable the customer to be accepted onto a formal DMP.

[Dotty50]

Hi Enron,

 

Thank you for that information, I will have a read and decide how to proceed with them, I will also request CCA and see what they come up with.

[Dotty50]

Update so far no response to CCA request, no surprise there!

 

But in the post today arrived a letter from Citi announcing transfer of ownership of some of their accounts (including your account), to CC Asset Management Ltd.

 

Anyone else had one of these?

 

This card was up to date, never late, until this month.

[Craigbadger]

What happened with me was I was 2 payments behind and nearing 3, I completely dissapeared and made it clear I was not able to afford payment, at which point I guess they get a bit more likely to cooperate. Spoke to them yesterday and they offered 6 months with no interest or charges and much reduced payment, in which time I will hopefully pay a decent chunk off. I did tell them I was going to go bankrupt if they didnt help though(few white lies work on the other foot aswel), then put in a reclaim for charges once the 6 months are up.

 

Might be worth missing a couple of payments and trying again. Let them sweat a bit and they seem far more likely to cooperate.

 

Strangely ive had no letter about my account being took over and my last 12 months payment history is an absolute trainwreck. Maybe they have only sold the the low risk accounts which after all make them little money???

Edited April 9, 2010 by Craigbadger

[Dotty50]

Hi Craigbadger,

 

Thanks for posting, it's encouraging to read that they may at some point take notice of the fact that we cannot go on any more with the extortionate interest being added.

 

It just seems strange that we have had this letter after requesting the CCA, which they have not responded to...... yet

[Craigbadger]

I now see over on MSE that a fair few have had them aswell and I think these were people with accounts in good standing and havnt requested CCAs, tbh mine was online 2008 and I have an agreement here which is good so I wont try and annoy.

Someone over there has said they have took over all uk accounts so maybe mine will come tomorow.

[Dotty50]

Mse?

 

 

Got it!

 

Thanks!

[Craigbadger]

Sorry, didnt wanna go using names for fear of getting in trouble

[Dotty50]

Just had a quick look so at least we know not on our own.

 

I know what you mean Craig, I mentioned another site on here when I first started and just couldn't fathom why it became 'an orange'!

 

Have to say I have stuck with CAG, wonderful helpful people and very user friendly IMHO.

 

Thanks ever so.

[Enron]

Strange for Citi to sell it so quick, does the letter head contain any company or OFT registration number.

 

Also I believe it is necessary for Citi to inform you of the assignment to another company -- for the assignment to be legal???? Is the letter from Citi.

 

-- just done a search and can't see that they've got a credit licence, so could be more tricks potentially.

[Craigbadger]

Slaughter and May - SAV Credit - Acquisition of Citi card portfolio in the UK

 

http://www.savcredit.co.uk/

 

Presume this links ok, doesnt say if theyve got all accounts or what?.

 

 

Oh dear, so they specialise in 39% credit cards.

[Enron]

I would take that as being the whole lot - not doubt after Citi got itself into financial trouble and had to be bailed out.

 

Once you hear from them, time to start the s78(1) CCA process over again and hope we get more sense.

[Dotty50]

Both links work fine Craigbadger thank you, noticed the name Varde on the SAV one, they have taken over my Virgin MBNA card.

 

Enron, the letter is from Citi and reads as follows:-

 

We have recently announced an agreement to transfer ownership of some of our Citi Credit Card accounts, including your account, to CC Asset Management Ltd (CCAM).

 

We will advise you when your account is transferred. Until that transfer takes place, we will continue to service your account, but will do so on behalf of CCAM and in accordance with CCAM's instructions.

 

We would also like to make you aware that CCAM is now responsible (as data controller) for the personal information contained in the records relating to your account.

 

Under the terms of CCAM agreement with us, they will have the right to request that certain changes are made to your account and/or related consumer credit agreement prior to any changes being made.

 

We have included FAQ's to help answer any queries alternatively you can call 0870 909 4416 - 24/7.

 

Questions as follows:

 

Why are you selling my card account to CCAM?

A. Selling credit card account to other credit card providers is not unusual in the cc sector. As Citi will continue to service your account for the foreseeable future, you will be able to transact as before and you shouldn't notice any difference in the customer service you receive.

 

What will this change mean in terms of the servicing of my account?

A. At the moment, there is no change to the way your account is serviced. You can still contact us on the same numbers, your statement will arrive at the same time and in the same format, and payments can still be made in the same way.

 

I have already closed my account, why have you sent me this letter?

A. If closed ---- please ignore

 

You have recently sent me a new card. Why if changes are being made?

A. We have sent you a new card to ensure you continue to use your account.

 

What if I don't want my account to be included in the sale?

A. Your account will be transferred to CCAM. You do, however, have the right to close your account now or at any time if you are not happy with the transfer.

 

What do I do if I have more questions?

A. Call 0870 909 4416 - lines open 24/7

 

So, as far as the CCA request goes, this is still with Citi? So do I now send account in dispute (template off here)?

 

Not panicking so much now I realise it is a bulk sale but I don't suppose they will offer a fantastic introductory rate of 0%! For the life of the transfer would be useful too!

[getting solvent]

To comments about the recent letters about CCAM. I managed to get to speak to someone at Citi tonight after 3 calls and being disconnected and asked about my DPM with CCCS and the repercussions about this change. He was adamant that nothing would change. Plan was in place etc He claimed no interest would be added as no intersst there at the moment. When I asked when would my account be transferred he said within 30 days. But realistically I don't trust them. CCCS know nothing about these people and it seems scary to me.

[getting solvent]

Sorry, me again ...just thought ...anyone contacted Martyn Lewis for advice or let him know what is going on?

[Enron]

If you are already in a plan with CCCS, then all details of the arrangement you have agreed should pass to the new creditor.

 

Might be an idea to start a thread of your own.

[Enron]

Nice to see the usual suspects here, crikey 4 guests..... looks like the Citi forums attracting some attention again.

[Dotty50]

Well no reply to CCA request sent on 17th March, nothing heard since letter advising account now belongs to CCAM.

 

Should I put account in dispute to Citi or still wait?

[silverfox1961]

Morning,

 

I would!

 

They ought to know this but it does no harm to remind them

[Dotty50]

Hi Silverfox,

 

Have been slacking a little!

 

Finally done account in dispute letter to send off to them tomorrow.

 

Is it 12 working days from CCA request? Its been a while since I sent one.

 

Only had one letter referring to the arrears but they are calling regularly and leaving messages to contact them.

[Dotty50]

Gosh, no posts on here since June! Where has this year gone?

 

Nothing really of any consequence to report..........until today.

 

Letter from Citi, apologising for the delay in responding to the CCA request under s78.

 

Although they have attempted to locate the document, to date they have been unsuccessful and therefore return £1.00.

 

We shall continue to search our records with a view to providing you with a copy of your CCA free of charge. In line with recent OFT guidelines your CCA is therefore not enforceable. "Enforceable" is a legal term meaning that a lender is note entitled to commence legal proceedings against you for recovery of outstanding sums. However you should continue to pay any amounts due as your contract with us is not void.

 

We would urge you to take not of the recently published guidelines from the OFT, which includes clarification to the effect that notwithstanding any failure to provide a CCA:

 

consumers still owe any outstanding monies to the lender

Interest can still be added to the loan and default charges can still be made

and failure to pay can impact a consumer's credit record.

 

To avoid further indebtedness it is therefore important that your repayments are maintained.

 

In the event of difficulty contact CAB or CCCS.

 

Yours etc....

[silverfox1961]

Blime, Citi actually following OFT guidelines. That makes a change.

No doubt this debt will wing its way to a DCA.