In September and October I made payments totalling $5462.51 into a loan account I have with Citibank, after having spoken with them to enquire about the effect this would have on my future repayments and balance. This payment was well in excess of the normal monthly fee of $393 I had been making, and having spoken with the bank, I was under the impression that the payment would cover my future repayments for approximately 14 months.
I was therefore surprised to receive collection phone calls from Citibank towards the end of December requesting the monthly payment of $393. After having explained the situation on numerous occassions to Citibank, I was directed to their Customer Advocacy Group.
After discussions with the Customer Advocacy Group, I proposed that Citibank either refund the money I had paid, less any fees chargeable during that period, so that I could recommense regular payments, or that they recalculate the payments that I would now need to make due to the vastly reduced balance of the loan, and the remaining loan period.
Recently, I made an application through my employer for an American Express Credit Card as I have found myself travelling quite a bit for work. I was shocked and greatly embarrassed when the application was rejected. Upon enquiring with American Express, and paying for my Credit File, I discovered that Citibank registered a default against me in March this year, in direct contravention to what I had been told by the Financial Ombudsman Service they were allowed to do under the rules.
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