EGG - claim they do not have a copy default

[Matt5791]

I have been pestering Egg for a copy of a default notice - they have told me that they do not keep copies and so are not liable to give me one, but assure me it was issued.

 

Can anyone tell me the true score on this - firstly does anyone know if there is an obligation under the Consumer C.A to produce a copy?

 

Note: the debt is settled.

 

Thanks

Matt

[42man]

If it was in the last 6 years then they have to keep paperwork

[42man]

I note you have said that you have settled did you reclaim the penalty charges back ?

[Matt5791]

Thanks for the responses - can anyone point me in the direction of the relevent section of the Act, regulation or court decision which stipulates they must keep the paperwork?? (the default was issued in 2004) Thanks.

 

....yes I did get a good deal on the settlement.

 

Matt

[42man]

Reproduced courtesy of Tomterm8

 

For example according to sections 221 and 222 of the Companies Act 1985, a public company is required to maintain records for a period of six years (section 222(5)(b). As a loan agreement is active until the agreement is terminated, I would suggest that all the payment records (and other documents making up the file - including the agreement/application etc) would be "live" until the account is paid, or terminated - thus, the full file should be retained for at least six years after that.

 

This interpretation fits in with Inland Revenue legislation that requires prime documents to be retained for a period of six years - AFTER THE END OF THE RELEVANT ACCOUNTING PERIOD. That would mean some files need to be retained for up to seven years. The relevant legislation is found in Schedule 18 of the Finance Act 1998 (paragraph 21) - of particular significance is sub-paragraph (6).

 

Finally, key documents/application forms etc must be kept until 5 years after that business relationship has ended. This is a requirement of The Money Laundering Regulations 1993, 2003 and 2007. I am considering reporting the matter to the financial crimes division of the treasury

[storm]

Interesting

 

Dealing with something on my wife's behalf for Egg

 

We asked for the default notice but they didn't send it, and we have since found it

 

The default notice is very vague, doesn't mention the amount outstanding on the alleged debt, and just says that instalments of £275 are required to remedy the breach, without saying how many instalments and dates to pay it by (add to that the monthly payment on the original agreement was different to the £275 instalments asked for on the default)

 

Wonder how many of there other default notices are like this, as they just seem like figures plucked from nowhere

[MR2Phil]

I too have asked for my CCA (out of interest really, just to see if they have it) and they told me the same thing..."please refer to the one you signed when you opened the account. We are an internet based bank and, as a result, do not keep paper copies".....er....ok.....!

[steven4064]

MR2Phil

 

Under the 2004 legislation they do not have to have paper copies or signed docuements if the whole trasnaction was done on-line and after April 2004. However, they must be able to produce the equivalent - a printout of the form you filled in on line including the prescribed terms and a ticked box indicating that you agree to them.

[MR2Phil]

Ok, thanks. Mine was before then though. I can't remember now if I did the whole application online or not, guess I must have. Anyway, I'm not too bothered, I just mentioned it in an email to them in the hope that it'd gee them up with getting my statements to me.