PPI reclaimed on account sold to DCA

[Batholiver]

Hi,

I recently had a PPI refund from Egg (or whoever runs that now). The total was just over £850. They sent me a cheque for £340 but said the remainder was to be credited to the outstanding balance of my open account.

I have a letter, labelled 'Notice of Assignment', from Arrow Global, dated May 2013 stating that they had bought the debt from Britannica Recoveries S.a.r.l in February 2013. It further states that the balance is owed to Arrow Global and the letter confirms sale of the debt by Britannica Recoveries.

The implication of this is that Egg sold the debt at some point. As I understand it, once a debt is sold, the original lender has no legal right to the debt.

I have no letter stating sale by Egg of the debt (they may have sent one but I can't find it). But it does sound as though they sold it.

Is the original lender pulling a fast one?

[katie77]

Hi BathOliver,

I wandered if you looked into this any further. I am in a similer position, I have a PPI payment but about half of it was sent to Arrow who I believe are a DCA. My loan with Egg was in a trustdeed which I completed and was discharged from some years ago and my old trustee has no interest in any PPI claim monies so I don't believe that Egg should have sent any of my payment to Arrow.

I will make my own thread here I think to see if I can get any info but if you have had any success getting to the bottom of this let me know!

[Batholiver]

Hi BathOliver,

I wandered if you looked into this any further. I am in a similer position, I have a PPI payment but about half of it was sent to Arrow who I believe are a DCA. My loan with Egg was in a trustdeed which I completed and was discharged from some years ago and my old trustee has no interest in any PPI claim monies so I don't believe that Egg should have sent any of my payment to Arrow.

I will make my own thread here I think to see if I can get any info but if you have had any success getting to the bottom of this let me know!

Hi Katie77,

Didn't get any further with this as I had no response to the query. I still believe that Egg was incorrect to take money on an account they'd apparently sold but without some definite answers, I've let this lapse.

Regards

[katie77]

Thanks for getting back to me,I don't know myself will start my own thread and see what happens. I will probably refer to FOS if Egg doesn't provide me with a satisfactory response. You have 6 months to refer to FOS if your still not happy just so you know but they will ask you to try and resolve it with Egg directly first.