Thread: Egg Loan and Me (hello!)

Hi all, this is my introduction to this forum so please be gentle! Just thought I'd try and explain what I'm going through right now and see if you can help me.
Mods are welcome to delete or amend this if you feel I'm giving out too much info.

About 10 years ago I got my first credit card and promptly maxed it out. Got a few more over the years, transferred various balances, consolidated them into loans, fell behind with those, got a bailout from the Bank of Dad (and a bollocking!) and am slowly paying off the rest.

Right now I have a credit card near maxed out but no real problems paying the minimum. Have applied for a CCA from them.
Current account has a £500 overdraft which I can't seem to clear so am paying minor fees for that (£3 per month). Not chasing this.

This Egg Loan was a top-up of a previous loan and has now been defaulted for about 5 years during which I've paid a small agreed amount each month. 2 months ago they got in touch for the first time in years wanting more money. Seems that somebody took charge of their defaultees section and decided I deserved more agressive chasing.
Although I can just pay a bit more I'm not wild about it having recently been made aware of the possibility that the agreement may not be enforceable and that the Payment Protection may have been wrongly sold or added on.
I CCA'd them and got told they needed my signature for them to give out the information, this in the same week they sent me a statement for the account. I've sent a letter back querying that (see other thread) and am now waiting for their next move.

I suppose I'm hoping to prove the agreement is unenforcable and not have to pay back the remaining amount.

Thanks Steven, I did point out to them a signature was not required under the CCA 1974. If I haven't got the documents from them by the 25th March I will stop the DD going out and write to tell them why. Pretty sure there's a template out there to guide me.

Good point regarding the payment charges. I'm sure they did that several times before I started getting things straight. I'll dig out the old statement and check the details tomorrow.

Still waiting for a response for my Egg Loan CCA request. I'm now preparing a letter asking again for this and explaining that I am stopping payments until I receive the documents requested.
The loan account is in default so I can't see this action damaging my credit record!

Hi Nick,


In my request I also didn't sign it but I included a copy of my drivers licence ( with the sig blanked out) and a utility bill. I got the agreement back fine no arguments.

Pity for them the agreement is far from fine, so hang tough Nick, you aren't the first person to get themselves into trouble moneywise-you haven't bashed an old lady over the head and nicked their pension book. You aren't a criminal, just hard up like the rest of us are. You won't get a hard time here I absolutely promise you-everyone here is in the same or similar situation and we all help each other out.

Keep the faith, you'll be fine in the end.

Well, they haven't sent the agreement so I wrote to them last week basically saying that until I get a copy of the agreement I'm not paying any more money.

Must say that having that extra £100 will go nicely to sorting out the credit card! That actually raises another point: IF the agreement is somehow legal, how soon do I have to resume payments?

I also need to find a way to scan and edit the paperwork so I can place it online. Got any good tips on this?

Surprise! The loan agreement and T&Cs finally arrived. I will scan and post them soon. Should they have sent statements too?

Considering I told them I am disputing the account based on the lack of documents and stopped the payment, how do I stand now I have the documents? How long do I have until I am legally required to resume payments or take further action?

are they enforcable?

And, if you still have the default notice, you might want to check that it is valid.

And have you been getting Arrears Notices since October. If you have, check they got them right too. They were having problems, I am led to believe.

I will put up the Default Notice which dates back to 2003 IIRC when I get the scanner sorted. Didn't know that could matter too.

As for enforceability, I have little idea what to look for. I may start an SAR soon.

Get the agreement minus personal details posted up so people can check.

Yes NIck-definitely get the agreement up here minus personal details.


If we can, we will rip it to bits.

Isn't there a possible multiple agreements issue because the PPI has not been properly separated out?

I wouldn't mind seeing the Default Notice to check it.

Have you had an Arrears Notice in the last few months? If you did, did you get one and then a "corrected" one?

Time for an SAR, methinks. Do you think I'm legally OK to withhold payment until that comes through as it sounds like it could be a few weeks yet?

Wondering now if I should arrange for an expert to review the SAR when it arrives to be certain. Think I might phone a few local solicitors to see what they charge and if they can help.