Shelley v Associates (Citi)Judgment awarded but Citi apply for S/A ***ONGOING***

[Shelley181146]

I have been working with the PPI calculation spreadsheet from this site and working from the statements from an old c/c it appears they were charging a monthly rate of 0.84%. Does that sound feasible/right or are my sums totally wrong?

Here's an example; £1429.72*0.84%=£12.05

 

Also, I am struggling with the interest calculations in so much as on each statement obviously they have charged interest on the debits for that month plus late charges for example plus PPI premiums and that month alone the interest would have been £30.96. How do I extract the PPI interest portion of that?

 

Shelley

[BankFodder]

I can't answer the first part of your question but on the second part, yes it is a problem. There is no quickl way. This is the kind of mess which has been caused by misselling and which needs to be unravelled if you want to get all of your money back. Better in your pocket than in theirs.

 

Try to get it as accurate as you can but if anything claim over rather than under and let them challenge it and sort it out. In other words, don't worry obsessively about getting it accurate and make sure that any errors are in your favour rather than in theirs.

[dx100uk]

what is this a/c?

 

dx

[Shelley181146]

My calculations are from an old Citi card account, previously an Associates card. According to a statement when a balance of £1492.72 we were charged £12.05 in PPI so I have calculated that to be at a rate of 0.84% is that how I would work it out?

 

Also, because they have charged us £30.96 for that month how would I extract the interest element from that?

 

This is all rather confusing but if I have a formula I can work through the rest. I would just like to ensure that I am claiming enough.

 

Cheers, Shelley.

[dx100uk]

the int is stated on the statement for that month.

 

all you simply do is take the PPI figure from the statement

take the apr from the statement

and use:

http://www.egalegal.com/compoundWindow.html

 

rests=12

days=360

 

dx

[Shelley181146]

That works for me dx. I have been using the link you suggest but I think I must have got a little tired because having checked my figures, it appears I may have forgotten to change the date each month as I went along. I have now corrected this and all is looking much better.

 

Once I have calculated the Citi card I will be able to move onto our other cards. What a hobby? I Will be sending off SAR tomorrow for Capital One and hopefully I will be having a rolling windfall. I won't spend it just yet.

 

Not sure how I dropped onto this website but I am real glad I did. Your amazing, the stuff you have on here is unbelieveable.

 

Must dash, I'm on a roll.

Thank you all for your assistance.

 

Shelley

[Womble68]

Shelley, I've been having the same problem as you also with a old Associates/Citi card now associates. I was using the application listed above at ega legal but found it monotonous having to recalculate all of the figures as time passed so I created a spreadsheet to calculate the interest & the results it gave me in most cases are the same as the ega legal application. It works by calculating the days since the charge & then compunds it by the given interest rate. In my case the rate changed 3 times over the period that I was claiming so I wote it to correctly compound the interest at the correct rates. If you are interested I could let you have a copy of the spreadsheet. If you let me know howmany times you rate changed I can change the spreadsheet to match the if you need me to.

[Shelley181146]

I didn't have to send a SAR request to obtain copy statements but I don't have a copy of my agreement from 2002 so I don't know what interest rates were being charged for the c/c or PPI? Can you help with either of these?

[Shelley181146]

Can anyone help with the above please?

 

Shelley

[dj1971]

Shelley,

 

I submitted 3 claims for mis-sold ppi against barclaycard some 18 months ago.

 

Originally they declined to pay out so I referred the claim to FOS.

 

When the adjudicator ruled in my favour but I appealed against their figures he explained to me that ppi does not attract compound interest.

 

Apparently the reason for this is the charge for ppi is one of the first things to be paid off the following month and is included in your minimum monthly payment.

 

I know not everyone will agree, but I decided not to fight it and accepted the premiums paid plus 8% per annum from month of each payment to date of settlement.

 

Good luck in your calculations

 

DJ

[millymollymoo]

Hi I hope you don't mind me subbing I am also claiming off Citi Card. I hope I have claimed the correct rate. As they don't do cards and Opus now have taken over I used that standard rate instead of the statement rate. Was that wrong as it compounded to quite a bit in interest ? Also do they pay this compound rate or just 8% stat?

 

Milly X

[Shelley181146]

dj1971, What rate of interest did you get in the end from Citi? Not sure about not allowing compound interest because reading many threads on this website it seems that there are many that have been successful with their claims. May I ask how long it took to settle your Cap One claim?

 

I'm not sure what the interest rate was at the time inn 2002/03. However, I am in slightly different position because I have now asked for a copy of the T&C's in respect to the PPI policy at the time because my husband was ill and they ignored my claims to pay out on the policy. I will fight them from one angle or the other.

 

If anyone can clarify what the rate of interest was being charged in 2002/03 on Associates/Citi Cards I would be very grateful.

 

Shelley

[dj1971]

Shelley,

 

My claims were against barclaycard not citi.

 

I ended up dropping the fight for compound interest as it would not have amounted to much and accepting premiums paid plus 8% per annum on each payment from date of payment until date of settlement.

 

Not saying that I necessarily agree there is no compound interest, just that in my case and according to the FOS there isn't any.

 

Good luck

 

DJ

[Shelley181146]

I have calculated my claim and would now like to write to the organisations involved in mis-selling. Is there a template letter on here I could use please?

 

I've read that compound interest is not claimable on PPI but that some people have claimed it and won. I am going for it and see what happens. I have another spreadsheet calculated if they reject the first one, hehe.

 

Shelley

[dx100uk]

no template

 

read notes for claimants stickie

 

dx

[Shelley181146]

If the 'decision' on this matter is expected in the next two weeks is it worth just claiming (without providing spreadsheet of calculations) to get claim in or still continue with SAR requests where applicable? I have a few I wish to persue and only one is calculated and ready.

[dx100uk]

i cant see the 'decision' making ppi reclaims a thing of the past

 

if anything, i think its going to widen and give further power to the comsumers after or entitled to a refund.

 

though there is nowt to stop you putting in a bankr letter, with a ref to further details to follow if you feel it necessary

 

dx

[Shelley181146]

My husband had an old Associates card back in 2002/03 which was later taken over by Citicard Plc but included PPI. Unfortunately, due to ill health in 2004 we wrote to Citiccard and explained our situation asking them (3 times) to send the relevant paperwork to claim on the PPI. Nothing received and account was sold on to Cap Quest.

 

Due to the severity of my husbands heart condition and strongly worded letters, assumed that PPI policy would not cover his condition, we agreed a nominal amount and were paying it through standing order until December 2009, when I wrote to them saying that we required copy of original PPI agreement and copy statements. It took them 6 months to send copy statements (no fee paid for information) but no PPI documents/agreements, (finally, received mid July 2010) Then in August 2010 we received a letter from our very own special 'case handling manager' who could offer us a settlement offer which could be paid over 6 instalments. I wrote to them again explaining that PPI should have covered husbands ill health but that we were now looking into applying for DRO order through the local CAB office to bide us some time.

 

This seemed to work until early March 2011, we received a 'Letter of Claim' advising that the account will be passed to their solicitors to commence legal action but giving us 14 days to respond.

 

I then drafted up another letter of complaint enclosing copy of previous correspondence which they conveniently say they have not received, including s77/78 letter together with £1 postal order. Sent by Recorded Delivery on 18/03/2011.

 

Letter received dated 22/03/2011 - Account on hold - whilst we obtain information you requested, if you have information which may help, please forward.

Another letter received dated 22/03/2011 - We can confirm that a copy agreement has been requested from the originator and will be forwarded in due course.

Letter received dated 23/03/2011 - Thank you for your letter which has been passed to Quality Assurance Officer in Compliance Department - confirms account remains on hold.

 

Today, we received letter dated 12th April 2011 (apologising for delay) thanking for correspondence - contents duly noted.

Confirming they bought the account in 2005 and that they were not made aware of any dispute on the account and were acting in good faith based on info provided by Citicard.

 

Thanked us for regular s/o payments.

 

They have requested documentation requested in s77/78 and information will be with us in due course.They explain that they have 12 days bla,bla but once the information has been provided they have the right to enforce the agreement. (this deadline has long gone)

They deny having received our previous correspondence.

 

As a gesture of goodwill, they have removed interest applied since October 2010 when I apparently notified their agent that account was in dispute over PPI. (thought they hadn't received correspondence?) And furthermore, have suspended all future interest on the account.

 

I still have to contact Citiccard for PPI information as this was in dispute prior to CapQuest's involvement with the account and they will keep our account on hold whilst we contact Citicard.

 

Question: If we have requested s77/s78 will we not get PPI information from them?

 

Apologies for long explanation but I am wondering which route to go down when I have all the relevant information because if the PPI policy should have paid out my husbands claim and didn't, this could be huge rebate. If the policy would not have paid out I have calculated PPI rebate plus interest and charges and will be happy to see them in court.

 

My husband's health continues to decline with him having further heart surgery today.

 

I'm not to familiar with abbreviations on this site but I would appreciate any advice going please.

 

Thank you in advance,

 

Shelley

[Shelley181146]

dj1971,

 

If anyone can clarify what the rate of interest was being charged in 2002/03 on Associates/Citi Cards I would be very grateful.

 

Shelley

 

Has anyone got a copy of an agreement for 2002/03 for Associates/Citicard please?

[dx100uk]

i wouldn't worry too much

guestimate

 

they'll soon pull you up if you are wrong.

 

there are other citi card threads too

 

martin3030 will prob know

 

dx

[Shelley181146]

So I will aim high then.

 

Thank you dx

[the_shadow]

Do you have the three letters you sent Citicards asking to claim on the PPI with proof of posting? Have you SAR'd Citicards at all? I would imagine they will have purged their system of any useful letters from that date as is their want I'm afraid.

 

S.

[Shelley181146]

Hi Shadow,

 

The original 3 letters were saved to my PC but unfortunately, it was that long ago I do not remember if they were sent by R/D. I have however, sent a SAR request recently and await the information.

 

Not wishing to confuse the situation but at the same time (back in 2004) we wrote to another c/c advising them the same and their SAR information received this week-end did enclose a copy of our letter requesting the PPI paperwork for claiming so I am hoping the same will apply here.

 

Time will tell.

 

Thanks Shadow.

[Shelley181146]

I sent a recorded delivery Sar request to Citi card on 27th April and they had signed for this on 28th. The account had been sold to Cap Quest back in 2004 (ish) and we have been paying them a nominal sum since, so they have our correct address. However, Citi have replied today saying they require documents to clarify that we are the customer before they will release the information. I am happy to provide evidence for this but will this be counted within the 40 days they have to respond to the original Sar request or will I have to start the 40 days again from when I send the proof of address?

 

I will still send this proof by recorded delivery but I note they want it sent to a different address (Derby) when my original request was sent to their Executive Office in London.

 

It would be really helpful if someone can provide me with a template suggestion or the wording surrounding the 40 days whilst attaching evidence reuired please.

 

Appreciate your advice.

 

Shelley

Edited May 12, 2011 by Shelley181146
Template suggestion required

[MARTIN3030]

Hi Shelley,

This is not unusual for Citi-who will usually seek to frustrate compliance where they can do so.

There is provision in the act,for them to refuse to comply,if they have not been satisfied as to the identity of the subject requesting data.

The 40 days starts once they have been given the info-however if they have cashed your payment,you can argue that the application was deemed as accepted from that date.

I went through the same process and mine was also a closed assigned Capquest account.

However I did know that they would try to stall,and provided everything.

Have you seen the assignment docs between Citi and CQ ?

Its worth asking under CCA for these and check if the dates on the NOA correspond to those on your credit file.

 

I think also a good idea to move your thread to the Citi forums.

You can read lots there from others.