lastfight with egg

[lastfighttowin]

hello everybody,

 

must say this site is fantastic and has so far given me the strenth to claim and win the retrun of all bank charges with 3 different corrporations.

 

now to my last fight....claiming a refund in ppi with egg.

 

i have posted the letters issued by me below which i hope will explain my circumstances( a little long winded though)!

 

i have now recieved a third letter back form egg in response to my three letters with a " sorry my dissision has not changed, and please note there will be no further corespondanse from us" contact the financial obsbudsman"

the cheeky monkeys- i could have cried.

not one question answered, not even an attempt???

 

this was in response to the letter below.

i am sorry this is very long winded but i am unsure of what to do and any advice is dearly welcomed...

.....................................

 

my last letter

Thank you for you’re response dated 30th June 2008, regarding my complaint.

As anticipated and advised in my previous correspondence, you have merely chosen to respond with generic letters and resort to offering the minimum of assistance, indeed not one single question raised by me, has been attempted to be answered.

I am very dissatisfied with the levels of service received and deem your response as an insult to my integrity.

Once again, I plead with you to respond to my initial queries with reason and justification, and in a manor which beholds the good nature of you’re corporation.

In addition you will find an attached “schedule of claim for insurance premium returns”

I trust this is self explanatory - my assessment in ascertaining the funds owed unto me, as a direct result of the incompetence advice issued by you’re varying team members.

You will see that I have effectively divided the loan payment protection of £1793.96 into 48 equal monthly payments of £37.37

I have deducted 14 months which the start date of the policy(or first payment date), deemed to be September 2004 Up to November 2005, the date I requested a final settlement figure and cancellation of loan repayment.

The total amount equates to a total of £1270.58.

I would also wish to point out that the requested amount specifically does not include any interest at this stage.

Please take this letter as written notice that I wish you to accept unconditionally my request for repayment of the loan payment protection and respond within fourteen days letting me know a date by which I will receive full repayments totaling £1270.58. (One Thousand two hundred and seventy pounds fifty eight pence)

If you do not comply within this period then I shall have no other course of action but to begin a claim against you (Small claim courts) for the full amount plus interest plus my costs without further notice.

You are reminded that there will be no extension to this timescale.

I trust this clarifies my position and I look forward to hearing from you accordingly.

.....................................

my previous letter is below.

I purchased the above policy from you in April 2004 but now believe that I was mis-sold this policy due to the fact that I was not given the correct information when the policy was initially sold to me as indicated in the points below.

• Your salesperson stated / implied that taking out the policy was essential for me to get the associated credit required. I believe this was as a result of joining an outstanding credit card balance and loan request together.
  

• I am concerned that members of the sales team that sold me the policy have little financial background and the policy was not sold or managed in my best interests.
  

• Advised that no penalties for early repayment would be applied to the loan agreement
  

• Despite numerous calls over the last 2 years seeking guidance to ascertain the best way to make an early loan repayment, I was advised incorrect and inappropriate guidance. The resulting effect is an extension to the loan term which is still continuing until its current expiry date of January 2009. (refer to the specific events diary)
  

I presume you will be able to verify the exact times and nature of the calls through you’re internal records.

Diary of events

1) November 2005

We sold our house in October 2005, with a large amount of money credited to our respective accounts; I called a member of the Egg customer service team to discuss varying options available with a view to paying off the balance of the loan. I was advised that this was possible, however the insurance premium applied to my account could not be refunded, as the bulk of insurance was effectively the first part of the loan to be paid off.

I also requested that any future insurance would be cancelled; as the money saved within our accounts would guarantee the repayment of the loan should circumstances alter.

I was advised by you’re customer service team that this was not possible.

Early repayment of the loan was decided against on this basis.

2) April 2006

I made contact to request a payment break in line with the birth

Of my first child. A 3 month payment break was granted and was advised of the new monthly premiums. I was also advised of the new loan termination date of January 2009.

3) October 2006

General call to ascertain the current balance.

4) October/ November 2007

I Called to confirm the final payment date, (mistakenly believe to be January 2008) with a view to making a final one off payment. I was advised that the correct policy termination date was January 2009 and advised that the balance of the account was approx £4,200. I was advised that a reduction of £260 would be made available as the insurance premiums for the final year would not apply due to early repayment.

After discussions with the team member, specifically regarding earlier telephone conversations regarding canceling the insurance premiums, I was advised that the information given by Egg team members on several occasions was false, and that I could have cancelled this premium at any stage of the policy.

She also advised that the insurance could be cancelled immediately and a refund of approx £260 would be made available spread across the remaining term of loan.

As you can see the information given to me from the start of the policy date, but specifically from 2005 has been false, and as a result extended the loan term approx 3 years. Should my account dealings have been overseen in professional manner, I would have paid the full balance off as early as October/November 2005.

The actions of you’re colleagues have been to say the least very dissatisfactory, an in some instances dishonest.

I expect and have generally received excellent after sales service from the Egg team, but the extent of negative guidance given over the last few years, has essentially had a profound negative effect on my financial circumstances, I am frankly shocked that you have overseen my account this manner.

What I require

Unless you can satisfactorily justify to me that the policy was fair and reasonable and the actions of you’re team members to be satisfactory, I am requesting a full refund of all premiums, and subsequent interest on these payments, that I have paid to date. As I believe I have been deprived of this money I also expect 8% statutory interest, the amount a court would award, to be added to each payment made.

I would also like to know what the total amount payable would have been assuming the insurance policy was cancelled as of November 2005, and the loan paid in full.?

What the total amount of the loan agreement would have been excluding the insurance premiums throughout the term of the policy.?

What the total savings would have been should the premiums have been cancelled.?

What the earlier termination date of the loan would have been, subject to the insurance premiums been cancelled.

And finally the full amount of loan agreement, deemed paid in full in January 2009 based on the premiums paid through out the life of the current policy.?

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

I look forward to a full and prompt response to this letter within 4 weeks or I may continue my concerns with the Financial Ombudsman who will investigate my complaint.

...........................................

any thoughts, advise, worries, guidance very much appreciated....

I am not sure what to do next????????

or if i have gone about it the right way??????

 

thanks

xxx

[Paintball]

Hi

 

I've read through your thread and the correspondence and a have a couple of Qs.

 

You say that you have asked for a refund, but I wonder whether your Terms and Conditions for the PPI include a clause stating that you are entitled to a refund and how much.

 

If you don't have the T&Cs, then send a SAR to the company requesting all information that they hold including the T&Cs together with a true copy of the agreement as signed by you.