Barclaycard/Egg Is the default notice valid.

[freethemice]

Hi,
I have an egg account started in 2002 with just my signature on the form.
From what I've found on the internet it seems Egg are convincing judges this is now legal and binding - If I'm wrong please correct me.

June 2009 I lost my job and had to sort out all my debts. Shortly afterwards egg defaulted me and then they terminated the account. I accepted this unfair recession at the time.
The account had around £160 worth of penalty charges at the time of the default which would have paid for the default.

Is this a legal argument worth pursuing?
Can you point me to any cases that deal with penalty charges?

2009 I sorted out all my debts and the valid ones are still been paid monthly. I thought all egg was dead and buried but Barclays have apparantly bought the debt and the debt chases are pursuing it again.
Any help appreciated I do not think egg are right to charge unfair penalty notices that force the account into default. I also believe the termination means they cannot simply issue a new compliant default notice. But I would like to know the inns and outs before they take me to court.

Thanks

[basa48]

Re: Barclaycard/Egg Is the default notice valid.

Hi,
I have an egg account started in 2002 with just my signature on the form.

From what I've found on the internet it seems Egg are convincing judges this is now legal and binding - If I'm wrong please correct me.

Signature on what form? If it was a credit agreement it may be binding. (Dependant upon what the form said, but many Egg agreements are binding).

June 2009 I lost my job and had to sort out all my debts. Shortly afterwards egg defaulted me and then they terminated the account. I accepted this unfair recession at the time.
The account had around £160 worth of penalty charges at the time of the default which would have paid for the default.

Termination after a valid default notice would not be unfair rescission. In fact if you were successful in claiming rescission you would possibly owe the whole amount borrowed less any repayments , i.e. returning the account to the start point.

Is this a legal argument worth pursuing?

No

2009 I sorted out all my debts and the valid ones are still been paid monthly. I thought all egg was dead and buried but Barclays have apparantly bought the debt and the debt chases are pursuing it again.
Any help appreciated I do not think egg are right to charge unfair penalty notices that force the account into default. I also believe the termination means they cannot simply issue a new compliant default notice. But I would like to know the inns and outs before they take me to court.

Thanks

Your best bet is to ask the 'debt chasers' for a copy of that 'form' you signed plus any proof the debt has transferred from Egg to Barclays to the 'debt chasers'. Plus statements of accounts to show the penalty charges.

Finally only one default notice can be issued against any account, but although it can be 'inherited' by any debt purchaser it should still indicate the original default date. It is a similar situation with markers and defaults on credit files with CRAs.

[CleverClogs]

Re: Barclaycard/Egg Is the default notice valid.

I have an egg account started in 2002 with just my signature on the form.

Did you pay Payment Protection Insurance?

Did it pay out?

Come to that, did they pay 'owt?

[FlamingParrot]

Re: Barclaycard/Egg Is the default notice valid.

Hi,
I have an egg account started in 2002 with just my signature on the form.
From what I've found on the internet it seems Egg are convincing judges this is now legal and binding - If I'm wrong please correct me.

June 2009 I lost my job and had to sort out all my debts. Shortly afterwards egg defaulted me and then they terminated the account. I accepted this unfair recession at the time.
The account had around £160 worth of penalty charges at the time of the default which would have paid for the default.

Is this a legal argument worth pursuing?
Can you point me to any cases that deal with penalty charges?

2009 I sorted out all my debts and the valid ones are still been paid monthly. I thought all egg was dead and buried but Barclays have apparantly bought the debt and the debt chases are pursuing it again.
Any help appreciated I do not think egg are right to charge unfair penalty notices that force the account into default. I also believe the termination means they cannot simply issue a new compliant default notice. But I would like to know the inns and outs before they take me to court.

Thanks

You're probably referring to the Slater vs Egg judgment, which dates back to August 2010, so it's not exactly new, and Alexandra Slater was the claimant in that case. It all depends on whether all the prescribed terms were on the agreement or not, I've got a signed application form from RBS which is unenforceable due to lack of prescribed terms, it's not all about signatures. Maybe you could remove all personal details and post your agreement.