EGG Loan

[Talbot]

Originally Posted by militantconsumer

Did you ever find out if there was any PPI on your loan? Did you send for a copy of the agreement?

No i didn't do the Subject Access Request on this one, do you think i should. Suppose its worth £10?

[Talbot]

the calls seem to have stopped, wonder whats in store next..can't wait

[Talbot]

ok update, received a letter stating they are prepared to accept £1.00 for the next 6 months which is a relief. they are also registering the arrears that will accrue on my account with theCredit Reference Agency. They are also issuing a default notice...

what does everyone think, are they being reasonable for once or lulling me into a false sense of security?

[Mightyacorn]

Originally Posted by Talbot

ok update, received a letter stating they are prepared to accept £1.00 for the next 6 months which is a relief. they are also registering the arrears that will accrue on my account with theCredit Reference Agency. They are also issuing a default notice...

what does everyone think, are they being reasonable for once or lulling me into a false sense of security?

I don't see how they can accept your offer, and still register with DCA and send you a default notice. They either play ball or they don't. I would say that they are covering their backs, and not playing fair. If you did not pay at all, you would still be in the same situation. I am of the understanding, though no doubt someone will put me right, that when you come to agreement about repaying then that should be it. Particularly as you've kept them up to speed. It just goes to show that even when you're being coopertaive, they give you nothing.

[Talbot]

never thought of it that way, is it something I can keep back ready for when we are all sorted one way or another anf then producing the letter to get the info removed from the credit reference agency?

it might not make too much difference if i have to go bankrupt anyway but justa thought?

[Talbot]

unreal just got a letter through demanding payment immediately of£xxx. Miffed now, is this just a standard letter do we think because its got my amounts owed etc. I've got a month apparently

[Talbot]

bumpy bump..

[Talbot]

anyone had this before:

a letter stating they agree to reduced payments for 6 months then send another letter asking for payment (not the reduced amount)??????????

Also they have e-mailed me with a load of new terms and conditions on my Egg card (which luckily I haven't used and have no intention of doing)

[Talbot]

bumpy bump

[Talbot]

Have you seen my later post, they sent me another letter straight after asking for overdue payments to be made immediately. Have you come across this before.

[Talbot]

help............

[Talbot]

help............

[Talbot]

Can anyone actually tell me what a default notice actually is....as mentioned above they have agreed to my £1 month payment for 6 months and followed up a day later with another letter stating we want the payment arrears now?

Have they defaulted a bit quick, not actually had a notice of default just a letter saying they will??

Confused?

[cds]

a default notice is a precursor to termination of the agreement, if you do not not comply with the default they can legally end your agreement and go for enforcement through the courts.

assuming all their paperwork is in order

cds

[Talbot]

Thanks for the info, one more question though:

how do you comply with their default, I am sending them £1 month as stated?

[Mightyacorn]

I can confirm that Egg are absolute b******'s. I have two CCJ's by Egg one a loan, the other a card. I have now found out that certainly the card, and probably the loan, were unenforceable, and I'm now trying to gather sufficient information to have them set aside.

In the meantime I've been unable to meet the high payments set by the original CCJ when my circumstances were better, and I've had to pay for variations. Egg have contested both variations, asking for even higher payments on the card, and a first legal charge on my property which I'm in the process of selling with negative equity. I have been in contact with Egg throughout and they are fully aware of my circumstances (which includes lots of other debts, including Capital Gains, VAT and Income Tax), yet they want more.

[Talbot]

Originally Posted by Mightyacorn

I can confirm that Egg are absolute b******'s. I have two CCJ's by Egg one a loan, the other a card. I have now found out that certainly the card, and probably the loan, were unenforceable, and I'm now trying to gather sufficient information to have them set aside.

In the meantime I've been unable to meet the high payments set by the original CCJ when my circumstances were better, and I've had to pay for variations. Egg have contested both variations, asking for even higher payments on the card, and a first legal charge on my property which I'm in the process of selling with negative equity. I have been in contact with Egg throughout and they are fully aware of my circumstances (which includes lots of other debts, including Capital Gains, VAT and Income Tax), yet they want more.

Sounds shocking i'm sorry to hear about your situation but surely they wouldn't want a charge on your house if your in negative equity?
And I was under the impression that once you've agreed payment terms through a court which I assume is your CCJ then that was it. If you went back to court surely they would look at your circumstances again and agree a reasonable figure (the judge that is not Egg) Were your agreements paper based, mine were done online so its a dodgy issue no-one has got a success story based on online applications as far as I know. The fact they have sent me a letter stating they agree to 6 months at £1 is an agreement as such even if they sent a letter the day after asking for payments?

[Mightyacorn]

Originally Posted by Talbot

Sounds shocking i'm sorry to hear about your situation but surely they wouldn't want a charge on your house if your in negative equity?
And I was under the impression that once you've agreed payment terms through a court which I assume is your CCJ then that was it. If you went back to court surely they would look at your circumstances again and agree a reasonable figure (the judge that is not Egg) Were your agreements paper based, mine were done online so its a dodgy issue no-one has got a success story based on online applications as far as I know. The fact they have sent me a letter stating they agree to 6 months at £1 is an agreement as such even if they sent a letter the day after asking for payments?

The payments I was making to Egg were CCJ agreed, I then couldn't pay the agreed terms so I took thenm back to Court costing me £35 for each one which I could ill afford, that's when they turned really nasty. I was paying £113 on one and £95 on th other per month, so I asked the Court to reduce them to £10 each per month, having spoken to Egg and told them I was in deep trouble, Egg countered and tried to get £150 per month on each and a legal charge on my property. We have now agreed £20 per month on each, but I am p****d off cos I honestly believe that they are non-enforceable.

[Talbot]

at least you got it agreed which is good, not surprised your miffed off though. i just wonder if my letter stating they will give me 6 months will stand up in court if needed

[Talbot]

Not got a scanner so here is the typed version sent to me:

thank you for completing a financial statement indicating that you are unable to pay monthly payment on your egg loan.

We confirm that we are prepared to reduce your payment to £1.00 for the next 6 months, and the first payment of £1.00 must be received by 30th May 2009. This is without an any way varying or modifying our agreement with you for the above account or abondoning any of our rights under it.

As a result of this arrangement we will register the arrears that will accrue on your account with the Credit Reference Agencies we use, as you will no longer be complying with the terms and conditions of the agreement. This may affect your ability to obtain credit in the future. We will also issue a default notice.

If any agreed reduced payments are not maintained each month we will consider instructing a debt collection agency to collect these payments each month on our behalf.

Payments can be made in the following ways: blah blah..

Should i send a response to this?