Egg Mis-sold me a Top-Up Loan

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

oh and Freds have written saying they have handed the account back to Egg

[Bill-K]

Re: Egg Mis-sold me a Top-Up Loan

oh and Freds have written saying they have handed the account back to Egg

WOW !!! You're actually getting THROUGH to them ? !!!

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

OTR, Chalkitup has reported that Freds referred his account back to Egg as well.

[Bill-K]

Re: Egg Mis-sold me a Top-Up Loan

I wonder if this is a flood gate opening, now. Perhaps Fred's are dropping Egg hand-me-downs like hot potatoes, now. That will devalue the 're-sale price' of their accounts, I'll wager, sir. The word's out...

Ommelettes are in !!!

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

Not much to report on this yet, except that Egg have now refused to pay me the PPI on the credit card account citing th fact that the FOS are investigating as the excuse. I had asked them to credit that sum AFTER the principle on the consilidation loan had been re-scheduled (because it has a significant PPI 'element' within it).

FOS have emailed to say they are awaiting info from the bank.

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

The in dispute part of the debt shouldnt be taken to court as it is legitimately in dispute ref the PPI. However any remaining part of the debt could be. (and take note thats aside from any interest on the disputed amount you might be claiming, so its basically the amount of ppi premiums you are disputing shouldnt have been paid and should be returned).

If Freds do take it to court then it'd be a defence on the ppi issue (in dispute / missold / with FOS) and an admission/offer on the rest (if any) so really with Freds Id work on the same basis to avoid any court action till the dispute is sorted (ie. make a repayment offer on the non disputed amount of the debt).

(and as far as I know theres no law against either party taking court action whilst any dispute is with the FOS although you'd hope a court would look on it as a bit vexatious - also remember FOS decision is legally binding on the lender and not on the debtor so if FOS go against you you can still sue them, but if FOS goes against them they have to pay up and cant sue you)

Hi. I received this email from the FOS today in response to an enquiry regarding the above issue:

"I am writing further to your email dated 11 November 2010 - which I have reviewed today following my return to work due to sickness.

I would advise that although this service would prefer a business not to pursue collection of a debt whilst investigations are ongoing at this service; it is not something we can instruct it to do. Under such circumstances - at the consumers request, we will ask the business to cease action pending conclusion of our investigations, but as advised, it does not have to act on this request.

I trust this clarifies your query.

XYZ
Adjudicator"

So when the next DCA comes a-knocking I will ask FOS to send that letter to Egg.

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

Need a little advice on how and when to start paying my instalments again.

CapQuest were managing my account til June when I CC'd them and put my account in dispute. I followed the classic CAG line of not paying them while the account is in dispute.

CapQuest passed the account back to Egg. As you will read above, the FOS are presently looking into a PPI claim.

Egg passed the account to Fredericksons (despite the FOS involvement). Freds passed it back to Egg because it is in dispute.

Now, I know I have to start paying Egg again but the questions I have are:

1. When should I start paying them? Yes, I gather some may say "right now! You borrowed the money so repay it!" but what I'm driving at is would recommencing payments screw up my FOS claim in any way? I also claim that Egg mis-sold me the loan because they used it as a consolidation loan to settle an older, multiple agreement. Or should i start paying Egg again when the dispute is resolved by the FOS?

2. I have completed an i/e sheet for Egg with the kind help of another poster on LB. This is for much less than I was paying CapQuest. Do I send this to Egg and recommnce the payments at the same time?

3. Do I try and pay Egg direct or do I wait for the next DCA to be instructed by Egg?

4. can anyone PM me Egg's account details so that I can use it whether they wish to instruct a DCA or not? I am thinking that I could sideline and ignore any DCAs and just pay Egg what I can afford direct.

Thanks any guidance would be appreciated.

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

Bump. Any suggestions? The way my luck is going at the moment... feel like I'm on a losing battle with Egg and Barclaycard but hey ho, like many, many others here I will battle on.

Any thoughts on how to compose a letter to Egg with my much reduced payment proposal would be greatly appreciated. Was paying CapQuest £100 but want to pay Egg £31 based on my i/e spready.

[Angry Cat]

Re: Egg Mis-sold me a Top-Up Loan

Debt Star, my advice would be to wait until the FOS have finished looking into your complaint.

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

Hey, thanks AC. That's just the advice I was looking for. Cheers.

But, in the interim, the Eggsters will keep sending DCAs after me. I got rid of Cap and Freds so I guess I can do it with any others, eh?

Apparently National Debtlline have precedent letters for repayment props so I'll take a look there when the time comes.

If anyone has any views to the contrary, pleeeease let me know!

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

I've been meaning to post this up since first mentioning it on the PPI judicial review thread a few weeks ago...



******VICTORY OVER EGG**********

The FOS have now adjudicated and Egg have agreed to all of the following:-

1. PPI to be repaid plus contractual and statutory interest for the credit card monthly premium PPI, approx £650 +
2. PPI rebate plus contractual and statutory interest for the consolidated loan single premium PPI approx £450 +
3. A full rebate based on a calculatution of the carry-over of PPI into the consolidation loan (for the duration of the loan from inception to date), plus interest on this sum (to be quantified)
4. £100 compensation for distress and inconvenience
5. A rebate of the overpayments I have made on the consolidation loan principle plus interest because of the PPI loaded onto it, ref both the credit card PPI and the consoliodated loan PPI

[Bill-K]

Re: Egg Mis-sold me a Top-Up Loan

That's good stuff, DS. Congratulations, mate !!!

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

That's good stuff, DS. Congratulations, mate !!!

Cheers bro and a big thank you to you Bill, for helping with those Egg spreadies!

If you have no objection, I will send you a copy of the Egg calculations to cast your wary over them?

We can't trust these Egg boys, can we?

[Bill-K]

Re: Egg Mis-sold me a Top-Up Loan

Indeed so, DS. Send the stuff, and I'll take a look.

[The Debt Star]

Re: Egg Mis-sold me a Top-Up Loan

oh dear. Egg look as if they intend to ignore the FOS deadline to settle up. they have until Monday. methinks they are still trying to play 'hardboil'.

so, anyone know what happens when a bank refuses to comply with a FOS timescale to pay up?