Thread: Egg Top Up Loan CCA-any ideas?

Hi there,
Ive got some other Barclaycard sagas also running, but just received my Egg Loan CCA on Friday, and after reading Stevens excellent thread on agreements I thought I would ask for some other opinions. The agreements are for a loan originally taken out in 2004. In 2005 egg offered to pay off my egg card by putting it onto a top up loan, but would only allow it for this purpose. It was applied for over the phone and then they sent me the forms to sign. I have already had the PPI back on this but was just wondering if the agreement itself is enforceable. There is no acknowledgement of the restricted use part of the loan being different to the original amount borrowed?

It took one letter; I don't think I even sent it recorded! Basically, the loan was taken out over the telephone after I had filled in an online enquiry form where I stated I did not want PPI. On the phone I told them that I was self-employed (Egg did have a clause in the PPI apparently covering this but it was absolutely worthless to my situation) but they added it anyway and led me to believe I would not get the loan if I did not take it. They tried to locate the tape of the phone call when I complained, and couldnt find it, (although I could remember the conversation quite clearly and think it would have proved in my favour anyway) so they apologised and refunded the whole policy from my loan account. Pretty easy. I was so shocked by how much it reduced the outstanding loan, although I am still in a lot of debt, so am going through everything with a fine tooth comb now! From loans of that kind of time (2003/2004) I would be surprised if they had any of the tapes.

I remember they were very vocal about wanting to do it at the time. I know my Egg card agreement was very possibly unenforceable, as I have it still. I would be very surprised if this was not a case of killing two unenforceable agreements with one stone. I only wish I knew then what I know now about credit. Creditors unfortunately do not allow for the mistakes of being young and extremely naive. Best of luck for your PPI case; will have my fingers crossed for you!