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Thought was making progress but seem to have hit a brick wall! Any advice is welcomed...
Egg have offered to credit my Credit card with the total charges of £160 plus interest at 8%, however my account has been terminated by Egg as I now pay into a dmp with CCCS. I agree with the amount they have offered - I just disagree with their payment method!!
I wrote to them to say that I was willing to accept their offer, however required payment by cheque instead of a credit to my card (which I no longer have!)
Egg have taken 4 weeks to write back to say that they are investigating and have another 4 weeks as per the FSA.
Just wondered if anyone can offer any advice as to my next steps. Shoudl I write back with a copy of their termination letter requesting payment in 14 days or just start a claim online?
Your account is still maintained in Egg House (internet browsing of your account still possible?), with account balance remaining legally payable. It is card facilities which have been terminated.
As Egg levied unlawful charges on your account, and these charges have not been paid off by yourself, it seems hard to argue why Egg should not be allowed to apply equivalent credit refunds back onto your account -- if Egg are determined so to do. You could try telling Egg you are getting ready to appeal to the Financial Ombudsman Service at a cost of £400 to Egg, win lose or draw, but your preferred outcome looks improbable as the fos is unlikely to accept your case.
The only scenario in which Egg would prefer direct refund to the former cardholder would be where Egg have completely sold a bad debt to a DCA and washed their hands of the account. As Egg remain legally answerable for charges reclaim, they would not like paying the DCA in case the DCA do not pass it on, leaving Egg still answerable to the courts.
I've sent them another letter stating my reasons for wanting a cheque rather than a credit.
From your response it looks like i woudln't be able to take it any further unfortunately. Fingers crossed whoever looks at the case decides to pay me a cheque rather than credit the account. If they do credit the account it's less debt I have to repay I suppose.
Lyall vs Egg Card
have offered to credit my Credit card with the total charges of £160 plus interest
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