BathTub vs. egg

[BathTub]

Hiya,

In addition to BarclayCard I also sent a 'Tools' letter to egg and MBNA also asking for charges back.

With egg I asked for the refund of charges totalling some £124, a mixture of £20 charges and £16 charges and associated interest. Not much by any stretch but useful nonetheless.

I got reply a few days ago basically refuting the letter and saying that the charges are fair. They however want to refund me £5.43 which is one £20 charge brought down to £16 and 8% interest. They seem to have ignored some £20 charges as they fall out of the 6 year limit.

There is no balance on this card. (The buggers did default me though.)

So I guess the next step would be the second letter. With this letter should I start detailing the interest which they refund me? I was thinking 23.90% as that is the rate which they charge me for cash advances. Or would 16.9% be more appropriate, the rate which is my standard rate.

Also whats the deal with charges that are outside the six year term? I have been reading quite a lot of peoples experiences, some have managed to claim back further, whats the magic there?

[TUTTSI]

Re: BathTub vs. egg

Hi BT

Just thought you may want to have a read if you have not already done so Budgies epic against Capital One http://www.legalbeagles.info/forums/...ead.php?t=6123

Tuttsi

[Tools]

Re: BathTub vs. egg

Seems they do not want to play ball.

Have a read of the reclaiming guide Legal Beagles

Decide which type of interest you wish to reclaim and send them a Letter Before Action giving them 14 days to reconsider and to repay you in full with interest.

Should they either ignore or dispute your request then issue a claim in court at the 14 day deadline. Do not deviate from this.

Once they receive the claim form they should then reconsider, if not, then post here and we will give you all the support you need.

[Budgie]

Re: BathTub vs. egg

Actually, instead of reading the thread for my Capital One claim have a read of Flangies Vs Capital One, its much shorter and probably easier to follow and incorporates a lot of the tactics I used during my own claim.

It will give you an idea of how things might progress.

If you really wish to go all the way regarding a compound interest claim then please do have a read of my thread.

But first thing to do is to actually work out the difference between calculating a statutory interest claim and a compound interest claim and see if financially it is actually worth all of the extra effort.

[jon2516]

Re: BathTub vs. egg

I had no luck with Egg and ended up forwarding a complaint to the F.O.S

[jon2516]

Re: BathTub vs. egg

Has anyone had any luck with the 14 days to reply?

[BathTub]

Re: BathTub vs. egg

Gosh look at those dates, sorry to leave this thread hanging.

In the end I decided that the most easy option was to just pass it on the the FOS for them to handle. I did send a second letter to them but they came back with the same final offer. I did think about pushing it further but like Budgie says its quite a small amount involved really.

But what did make me remember the whole egg thing was that this morning I received a letter from Moorcroft who were handling the account demanding the full amount which is quite strange since it was settled way back in September. I started to worry thinking that I had made a mistake with the payment but when I logged onto my egg the balance was zero. My credit record was also marked as satisfied. So I plucked up enough courage and rang them to enquire about. Seems that they no longer hold the account, it was taken back by egg on the first on the month. Which is funny because the letter is dated the 2nd. The cynical side of me thinks it was a last ditch attempt to get some money out of me for the commission. There was even an offer of a monthly charge. The other half thinks it was an honest mistake.

Im rambling! Thanks all for the advice!

[Tools]

Re: BathTub vs. egg

Nice result and thank you for updating us

[jon2516]

Re: BathTub vs. egg

Bath tub

Yesterday had a reply from the FOS saying Egg agreed to settle rather than have a formal investigation. The amount is still no where near a full refund although it is less than £400.
I called the FOS and thay are going back to Egg with the original figures I compiled from a SAR.
What is interesting was the amount of interest they worked out, 28.125% so I applied this to the true figure owed!

[BathTub]

Re: BathTub vs. egg

Finally got a response from the FOS about my complaint about Egg. Upshot is that they side with Egg and believe that £16 is a fair charge. Therefore they will not uphold my complaint. If they dont hear from me by 7th July they will consider the matter closed.