Loan & PPI: Has anyone successfully claimed from EGG?

[TerriblyShafted]

I've spent the last week reading up on the various threads on this site, as advised. However, it seems that, of all the lenders, EGG success stories are rare when it comes to loans, especially if applied for online. Basically its bogoff because you were sent the T&C's (despite the fact that the borrower had a pre existing disorder, or was retired/self employed etc) and they are quite happy to refer you to the FOS.

 

I wonder whether someone could help us Egg claimants as I've also come across a few people asking for help re EGG but there tend to be few replies, possibly because there arent many Egg successes?

 

Hope someone can help.

[alanalana]

Hello Terriblyshafted,

 

Welcome to the PPI forum:)

 

I've spent the last week reading up on the various threads on this site, as advised. However, it seems that, of all the lenders, EGG success stories are rare when it comes to loans, especially if applied for online. Basically its bogoff because you were sent the T&C's (despite the fact that the borrower had a pre existing disorder, or was retired/self employed etc) and they are quite happy to refer you to the FOS.

 

I wonder whether someone could help us Egg claimants as I've also come across a few people asking for help re EGG but there tend to be few replies, possibly because there arent many Egg successes?

 

Hope someone can help.

 

I myself felt the same with my 12 month battle with the RBS but ended up with a success.

 

As for egg. If you can post up more information on your particular issues with egg details of loan dates, figures etc that would help also if you can use photobucket to copy and post agreements.

 

However make sure all personal details are removed before posting to the forum, ie actual names, sort codes, account numbers and addresses so your identity and account details are protected.

 

The more information you can supply the more help you will recieve from the forum members.

 

A lot of the outcomes depend on the dates of the agreements and whether or not the loan company were regulated. In the light of the recent FSA and ICO statements PPI was mis-sold big time so you should have a better chance of recovery of your money.

 

Not sure if you have seen this from the stickies but it is worth looking at. It may enable you to get a view on PPI as a whole and give you the incentive to fight egg.

 

links

 

This is a long thread with a stack of other links. Some may be of use others not but read through absorb and decide if you can use any of the info. Any questions just post.

 

aa

[TerriblyShafted]

Hiya

 

Thank you for replying.

 

I have read just about everything on the sticky threads (took me a week!) but cant find anything particularly relating to EGG. There are however some people who have asked about EGG loans (I came across about 5 or so) but there is no further info on how their claims panned out so its a very sketchy picture.

 

The main problem re Egg loans ppi, is that they give out very detailed T and C's and this is their defence. So the onus is on the borrower, they contend, to read these in detail prior to signing the agreement. If the borrower failed to inform them of a relevant condition which consequently invalidates the PPI (ie that the borrower was retired, in short term employment, redundant, in self employment, medically ill - prior to taking out the loan), then the borrower has to explain why they concealed this info at the relevant date of the loan agreement.

 

Secondly, they state that the ppi was sold on a non-advised basis. This sounds sort of like a caveat emptor thing which is worrying.

 

Lastly, if the loan was done online, this is harder as one had to tick (or untick) the PPI box and the arguments become rather thin. I do not know if in such a case, arguing that under common law, onerous terms must be brought to the attention of the party to the contract is advisable or whether it is just best to argue equity (ie the ppi was unconscionable, not in ones best interest, that it was not fit for purpose) and cross ones fingers.

 

In any case, that in my view is the EGG problem. I wonder if other frustrated EGG loan peeps can contribute about their experiences?.

[alanalana]

Hello TS,

 

Hiya

 

Thank you for replying.

 

I have read just about everything on the sticky threads (took me a week!) but cant find anything particularly relating to EGG. There are however some people who have asked about EGG loans (I came across about 5 or so) but there is no further info on how their claims panned out so its a very sketchy picture. (Yes and indeed so are many other loan companies who applied PPI and try to duck out of the issue)

 

The main problem re Egg loans ppi, is that they give out very detailed T and C's and this is their defence. ( the Terms and Conditions applied are not enought IMO to provide a solid defence. They will say you had so many days to change your mind. The PPI was optional etc. when it comes down to the wire the question is were you reliably informed as to the suitablity of PPI to you as an individual? Especially with regard to employment, Pre existing medical conditions, the fact your employer would cover you with full and or half pay for 12 months, did you have sufficient savings to cover the repayments, were your retired, the list is quite extensive) So the onus is on the borrower, they contend, (They can contend as much as they like if they have not asked the right questions at the point of sale to ascertain if the product was totally suitable to you and explained the full extent of PPI in some detail then the onus is not on the borrower but on them to prove the product was totally suitable to you. They should have asked the relevant questions and produced a "needs and wants" or "Loan customer duty of care" checklist or something similar and it should be on record to ensure they followed the rules on selling the PPI. This should be provided to you along with a lot of other information when you submit your Subject Access Request. If it is missing then keep asking them to produce and if they cannot then they cannot pretend to have had your best interests to heart when they sold the PPI) to read these in detail prior to signing the agreement. If the borrower failed to inform them of a relevant condition which consequently invalidates the PPI (ie that the borrower was retired, in short term employment, redundant, in self employment, medically ill - prior to taking out the loan), then the borrower has to explain why they concealed this info at the relevant date of the loan agreement. (As before they are required to ask all of the relevant questions and not rely on you providing information unless they ask the relevant questions to ascertain the suitability of the PPI being added)

 

Secondly, they state that the ppi was sold on a non-advised basis. This sounds sort of like a caveat emptor thing which is worrying.

 

Lastly, if the loan was done online, this is harder as one had to tick (or untick) the PPI box and the arguments become rather thin. I do not know if in such a case, arguing that under common law, onerous terms must be brought to the attention of the party to the contract is advisable or whether it is just best to argue equity (ie the ppi was unconscionable, not in ones best interest, that it was not fit for purpose) and cross ones fingers. (I must admit all of mine were by telephone but again if the loan was online then all the relevant boxes must be there to ascertain the PPI was totally suitable)

 

In any case, that in my view is the EGG problem. I wonder if other frustrated EGG loan peeps can contribute about their experiences?.

 

I am sorry I cannot help you more with EGG and online applications but the fact that the ICO has now ruled that loans will not be allowed to have PPI added at the point of sale and that single premium loans will be banned must be an indication that PPI was massively mis-sold by whatever method including online sales.

 

Keep at them SAR, get the data (all of the data) and take it from there.

 

Good luck

 

aa

[tiger33]

hi,i,ve just had a letter back off egg stateing that they are going to pay all my ppi premiums back plus interest on a loan i took out in april 2005,i only sent them the one letter asking for it back,i never went into detail why it was mis-sold they just paid it back,well i say paid it back it came off my arrears that i owe them,maybe thats why it was so easy cos i,ve got a claim in with the fso regarding ppi on a credit card that i was getting no joy out of egg with.

[TerriblyShafted]

Hello TS,

 

 

 

I am sorry I cannot help you more with EGG and online applications but the fact that the ICO has now ruled that loans will not be allowed to have PPI added at the point of sale and that single premium loans will be banned must be an indication that PPI was massively mis-sold by whatever method including online sales.

 

Keep at them SAR, get the data (all of the data) and take it from there.

 

Good luck

 

aa

 

Hi AA

 

You have been extremely helpful! Thank you so much.

 

I am still awaiting a response to my SAR after my initial letter stating i was missold received a standard bogoff reply. So i will defo look out for this duty of care info/doco in the stuff they send me and use that as my line of argument.

 

Thank u again AA.

[TerriblyShafted]

hi,i,ve just had a letter back off egg stateing that they are going to pay all my ppi premiums back plus interest on a loan i took out in april 2005,i only sent them the one letter asking for it back,i never went into detail why it was mis-sold they just paid it back,well i say paid it back it came off my arrears that i owe them,maybe thats why it was so easy cos i,ve got a claim in with the fso regarding ppi on a credit card that i was getting no joy out of egg with.

 

 

 

Hi Tiger

 

Excellent!

 

It's truly amazing as i believed EGG had adopted a blanket 'we will fight u in court' policy, just based on reading historocal posts on this site.

 

However, as you said, it may be because you were already in arrears. I did think of stopping my monthly payments (& consequently going into arrears) to them but I haven't so far and im still paying for the ridiculous ppi which i am precluded from claiming due to pre existing illness.

 

Please keep us informed about the egg card situation still outstanding with the FSO if you can. Thanks.

[TerriblyShafted]

Hi Tiger

 

Excellent!

 

It's truly amazing as i believed EGG had adopted a blanket 'we will fight u in court' policy, just based on reading historocal posts on this site.

 

However, as you said, it may be because you were already in arrears. I did think of stopping my monthly payments (& consequently going into arrears) to them but I haven't so far and im still paying for the ridiculous ppi which i am precluded from claiming due to pre existing illness.

 

Please keep us informed about the egg card situation still outstanding with the FSO if you can. Thanks.

 

hi,i,ve just had a letter back off egg stateing that they are going to pay all my ppi premiums back plus interest on a loan i took out in april 2005,i only sent them the one letter asking for it back,i never went into detail why it was mis-sold they just paid it back,well i say paid it back it came off my arrears that i owe them,maybe thats why it was so easy cos i,ve got a claim in with the fso regarding ppi on a credit card that i was getting no joy out of egg with.

 

 

Hi Tiger 33

 

I just read your previous posts and noticed your egg card was an online sale, as mine was. Was your egg loan done online as well?

 

Can i ask, did you send EGG the sample letter on that page http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/163718-egg-credit-card-ppi.html ? This sample letter is basically what i sent them.

 

TS

[hellhasnofury]

Hi Tiger

 

Excellent!

 

It's truly amazing as i believed EGG had adopted a blanket 'we will fight u in court' policy, just based on reading historocal posts on this site.

 

However, as you said, it may be because you were already in arrears. I did think of stopping my monthly payments (& consequently going into arrears) to them but I haven't so far and im still paying for the ridiculous ppi which i am precluded from claiming due to pre existing illness.

 

Please keep us informed about the egg card situation still outstanding with the FSO if you can. Thanks.

 

Hello TS,

 

Keep at them, I believe companies have had a bit of kick up the botty for not investigating legitimate complaints and responsing with the standard fob off letter, from the FOS and the FSA:D

 

I would recommend that you do not stop paying them as they will start off on the enforcement route, which would end up with a default showing on your credit file.

 

If you are still paying for the ppi, why do you not cancel it. Anything left in the ppi pot would be paid into your outstanding balance, therefore reducing the amount owed.

 

 

Then you continue after them for the portion that you did pay, plus interest.

[TerriblyShafted]

Hello TS,

 

Keep at them, I believe companies have had a bit of kick up the botty for not investigating legitimate complaints and responsing with the standard fob off letter, from the FOS and the FSA:D

 

I would recommend that you do not stop paying them as they will start off on the enforcement route, which would end up with a default showing on your credit file.

 

If you are still paying for the ppi, why do you not cancel it. Anything left in the ppi pot would be paid into your outstanding balance, therefore reducing the amount owed.

 

 

Then you continue after them for the portion that you did pay, plus interest.

 

Hiya

 

Thank you for your post.

 

I did send a request to cancel the ppi as wel as a SAR but have so far received just the standard letter back. This is in addition to the initial bogoff letter they sent stating the t&c's were clearly posted 2 me.

 

Thanks for the advice about adding the outstanding ppi to the rest of the loan. I didnt know i could ask for that (i thought that they just recalculate the outstanding loan on new terms).

 

TS

[TerriblyShafted]

Hi

 

Just received a letter from EGG saying they have now cancelled my ppi (after ive been paying it for 5 yrs, even tho ive been off sick for yrs and have a pre existing illness).

 

They also said that theyve now looked at my claim for missold ppi 2ce and they believe it wasnt missold, so pls bogoff.

 

They gave me a booklet on the FSO and said that they are processing my SAR.

 

What to do now?

[alanalana]

hello ts,

 

have a look at post 235 in this thread...

 

PPI Successes

 

It's an Egg win:D

 

aa

[TerriblyShafted]

Thank you aa

 

Any help will be appreciated - I've had a look through the stickies but cant find a template for complaining to the FSO/FOS!

 

How do i proceed down this route? Do i need to send them a letter and enclose the sar stuff, the t & c's, medical records???

[alanalana]

Thank you aa

 

Any help will be appreciated - I've had a look through the stickies but cant find a template for complaining to the FSO/FOS!

 

How do i proceed down this route? Do i need to send them a letter and enclose the Subject Access Request stuff, the t & c's, medical records???

 

FOS Homepage..... Financial Ombudsman Service

 

Fos how to complain..... our complaints procedure and how to complain

 

and how to make contact this is a good first step. Phone and ask and then act...

 

contact us

 

hope this helps

aa

[Gusolo]

hi,i,ve just had a letter back off egg stateing that they are going to pay all my ppi premiums back plus interest on a loan i took out in april 2005,i only sent them the one letter asking for it back,i never went into detail why it was mis-sold they just paid it back,well i say paid it back it came off my arrears that i owe them,maybe thats why it was so easy cos i,ve got a claim in with the fso regarding ppi on a credit card that i was getting no joy out of egg with.

 

Hi tiger33,

 

I've just read your post about successfully claiming the PPI back from Egg back in 2009 in one letter (congratulations by the way ).

 

I'm just trying to gather the information I need (with not much help from Egg) to reclaim myself and was wondering if you could send me a copy of the letter you sent them if you still have it?

 

Any help is much appreciated