Citi claimants- are you trying to settle out of court?

[rich2568]

I`ve heard on the grapevine that some Citi claimants are requesting an out of court settlement. Not sure whether this will include interest or not?

 

This is what the court would prefer I`m sure and also I`m assuming that settlement is better for the defendant as they don`t have the extra burden of going to a further hearing at the Mercantile Court!!

[breadline]

If you have filled a case in court then interest will apply and court costs, prior to court interest is not claimable.

[Enron]

Think people would prefer to continue their claim.

 

If the claimant is confident of winning their case, they would face losing their court fees and interest.

 

The time for negotiation would have been at the LBA stage and beforehand. And we all know that Citi have been unwilling to settle at this point recently.

[gizmo111]

Don't know of anyone who is prepared to negotiate with Citi - they way they have treated claimants has been appalling.

 

Do you mean the S69 interest or the interest that has been paid on the charges?

[gizmo111]

If you have filled a case in court then interest will apply and court costs, prior to court interest is not claimable.

 

Interest paid proprtionate to charges will apply before S69 interest is added.

[rich2568]

I made the decision to make an offer to Citi. This was just because of the lack of time on my half plus being the normal etiquette for the claimant to give the chance to the defendant to settle out of court.

 

They have accepted my offer!- so this means for all the claimants that don`t want the burden of a court visit and all the associated paperwork- then write to them and make them an offer.The cheque should be in the post- mine was received today!!

 

For reference I did use my calculator and ask for 75% of the court claim.

 

I feel this is a minor victory plus it keeps my belief that Citicards know that their dodgy defences will eventually be smashed!!

 

My letter to them is below:-

Mr Brian Smith- Solicitor

CitiCards

CitiFinancial Europe plc

1 Exchange Quay

Salford

Manchester

M5 3EA

 

 

 

Dear Mr Smith

 

Re: Claim No.

Hearing Date:

 

 

I write to you in respect of the above case number.

 

As per the guidance given by the court, both sides should wherever necessary try to settle or come to an agreement out of court.

 

Bearing in mind Citicards have been part refunding clients who have requested refunds of these charges the difference between the O.F.T. Guidance of £8/£12 and the actual charges of £20 /£25, I would like to request whether it would be in the interest of both parties in this case ,whether or not that stance should be followed here.

 

As per your defence received by the court thus state “The Defendant sold the debt to Hillesden for £484.23. This represented a loss to the Defendant of £2,974.55”. This statement is not a decision that I agreed to but a decision that Citicards chose to commercially. Whether or not Citicards lost more than the actual default fees levied on the account does not correspond with my actual claim which is the application of charges which I view are disproportionately high and are penalties with a view to a profit. Citicards are in a position of assigning debts off to a third party whenever they feel is appropriate. If this assignment causes Citcards actual losses overall, then this is out of my control and not a fact within this court claim.

 

The actual total amount paid towards this account including a final amount paid to Hillesden was actually £5249.01- substantially more than the default fees levied on the account. In respect of the terms and conditions of my contract it states that any payments made are made towards interest and other charges first before any actual purchases and balance transfers. This is verified by the the following term taken from those conditions:-

 

9. All payments we receive from you will (unless otherwise required by law) be applied to your Account in the following order:

9.1 Citi Flex Payments Monthly Instalment (to be applied to each Citi Flex Payment facility in the order of creation);

9.2 other interest and Account Charges;

9.3 existing Promotional Balances – lowest rates first;

9.4 new Promotional Balances – lowest rates first;

9.5 existing Purchase balances and non-promotional Balance Transfers – in the order in which they were debited to your Account as shown on the monthly statement;

9.6 new Purchase balances and non-promotional Balance Transfers – in the order in which they were debited to your Account but not yet shown on the monthly statement;

9.7 existing Cash balances shown on the last monthly and/or previous statements – in the order in which they were debited to your Account as shown on the monthly statement;

9.8 new Cash balances – in the order in which they were debited to your Account but not yet shown on the monthly statement;

 

I trust the option for both parties in this instance to settle out of court will be viewed as a sensible option, so my offer of accepting the sum from Citicards of £ as full and final settlement of my claim is offered to you. This offer can only be acceptable if taken up within 7 working days of this letter. If this offer is denied then the court action will continue, which will bring about the full claim which includes statutory court interest.

 

Yours sincerely

 

 

 

rich2568

[scoobyandy]

As i have been really poorly, i too had wrote seeking to settle out of ourt.

 

In a nutshell, i offered to settle for the original amount claimed as long as they paid the interest amount to children in need. Not really a reduced amount overall then but i'm sure they could have claimed something on the amount paid to charity - no response was forthcoming.

 

I did also make a great point of saying that wherever possible i thought we should be try and save the courts precious and valuable time etc etc.

 

They never even f-ing well acknowledged my letter lol. nor have they acknowledged or replied to any previous letters whereby i questionened the alleged refunding of difference between £12 & £25.00 that they claim to have made to a debt company that hasn't been involved in any matter with me - for over a year!!!

 

Asked for an adjournment in light of my illness and needing more time - no reply from court yet either.

 

Scoobyandy

[e28bigalbexley]

 

They never even f-ing well acknowledged my letter lol. nor have they acknowledged or replied to any previous letters

 

Scoobyandy

 

What! Do you mean that Citi, as a subscriber to The Banking Code did not reply to your letters within 5 working days. Oh dear must have been a slight hiccup in their admin no doubt im sure it will be rectified shortly (not).

 

 

More to the point i hope your feeling better;)

 

AL

[e28bigalbexley]

Clint

in letter to Citi where did the OFT guidance of £8:-? -£12 come from. the oft said anything over £12 would be excessive and they wold intervene as for the true cost only a court could decide.

 

AL;)