Egg credit card, turned into a loan - now defaulted by arrows

[thepopman]

This is my first post so sorry if in wrong section.

 

I have been viewing the may postings on her for a few weeks and thought I would start with Late payment charges so sent off my letters,

 

to date the only one I have recieved back was from Egg... but they sent me a copy of my loan agreement.. mmmmm? dated 20/1/05

well a copy printed out on a egg letter head ....so you ask !..

 

on reading this I see that the original loan was for £14k then they have added £4874.38 LPP so the total amounts states £18874.38 @ 6.9%

 

have they charged me interest on LPP and if so is the legal?

 

I love this site .....

[IdaInFife]

Hi and welcome to cag,

 

I am not too up on interest stuff.

 

Is there any way you can scan and post up what you have a recevied deleting your personal info. It would help others to take a look.

 

As it's with egg have a read of:

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/188093-egg-credit-agreements-what.html

 

Ida x

[thepopman]

dont have scanner sorry but will typo it all if needs be

 

thanks for link will read

 

and wow fast responce

[cerberusalert]

If you have a digital camera you can take a decent image if you use 'macro-mode'.

[thepopman]

I have uploaded the copy contract from egg

 

if you can please give me some idea if this is in any way incorrect.

 

Thanks

[cerberusalert]

Can you post them up on TinyPic - Free Image Hosting, Photo Sharing & Video Hosting and then copy & paste the URL back here? The thumbnails are too small to read.

[thepopman]

The last images were to small so now .pdf

Egg Copy page 1.pdf

Egg Copy page 2 .pdf

[IdaInFife]

I don't know but will bump it

 

ida x

[thepopman]

Thanks Ida,

 

as a new boy what is bump? please

[IdaInFife]

'bumping' up your thread to the top of the forum

[cerberusalert]

It may be better if this was posted on the Egg forum Egg - The Consumer Forums someone may be able to tell if it was kosher or not.

[thepopman]

Hi,

further to me requesting back my PPi from Egg loans I recieved a letter stating that as I had done the application "on-line" there was nothing I could do! So I called Egg and asked how they had come to this.

 

AS I KNOW THAT THE APPLICATION WAS DONE VIA THE PHONE

 

 

Question to Egg:- so the conversation I had with the lady was on line ?

Egg.. we can not see you comming through security on the day of your loan being granted so you must have done it on-line

Question to Egg?:-so you have a marker on me passing security on the internet then

Egg... Errrm Errm we dont know when you come online we just keep records of when you pass security via the phone line.

Question to Egg:- So is that your final reply

Egg... Errm Yes

 

Advised that that I thought this was a load of tosh so now been moved to the Ombudsman

 

Any one else with same problems?

[42man]

As you probably already know Egg have been in trouble for missold PPI - keep us posted on what happens...

[thepopman]

looking forward to it ...........

[thepopman]

The case forthe Egg loan continues but have just had £800 returned against egg card Ppi

 

I have not recieved a copy of how they got to this Figure yet but they have credited A/c

 

Spoke with the F/O who helped with case and they advise me that Egg should put the account back to the state it would have been if No PPi was added so they should infact take off the Interest each month and re calculate the statements...

 

any one else had a statement of how Egg calculated the refund?

[officejet1000]

Watch them like a hawk, I have been through FO and now negotiating direct with them, strange things happen, and they try and make out all the time they are right and I must be mistaken- they will also terminate your account, and charge off the account yet still chase you for money

[thepopman]

I have just come off the phone from Egg who now have turned to the Loan that is also with the FO.

 

I have not paid anythin for some time as this again is in dispute Re Ppi they have just said " you need to kepp paying "

 

I told then that when they pay I will pay, but in the intrim i will advise the FO of the conversation,

 

Egg .... what do they think we are Chicken ?

[maroondevo52]

Thread moved to PPI Forum.

[thepopman]

Good day guys,

I have been scratching my head over this one and wonder if anyone can give me some advice please.

 

I had a Loan with Egg that was put into dispute regards PPi, got a settlement and was paying £10 per month as gesture to withhold any legal action.

 

Egg sold account to Arrow and I got a letter of assignment dated 25/06/2011, At this point Egg had not put the account into default. but when I look at my Experian file the Egg account was marked settled 09/07/2011 and a default was registered by Arrow on 27/05/2011???

 

So reading it correctly I was defaulted by a company before they had my account and also I have only ever received two letters from Arrow. 1 letter of assignment and 2 a annual statement. No Default notices.

 

Also I have contacted Egg and they have confirmed that no default was registered by them and also a credit of £2000 + was put back against the outstanding balance which seem to have gone into the mist of sale.. so balance registered is £2K out.

 

• 
  

 

Any advise would be most appreciated.

[the_shadow]

I think you've been dealt badly with by both Egg and Arrow here.

 

If you have it in writing that the default was not placed on the account by Egg i would challenge Arrow to remove said marker with a s10 data protection notice clearly stating the reasons why the default should not be on your record.

 

S.

[BRIGADIER2JCS]

Arrow as the new owner can default the account.

By the time you received the NOA Arrow will have

had the account for some time, the date on the NOA

is not necessarily the date Aquiered the debt.

You need to challenge the balance with Arrow,

write to their compliance disputing the amount

claimed do not admit liability to Arrow.

 

There are always delays in entering these tranacations

on the CRA vfiles.

[the_shadow]

Actually scratch the s10 idea as they have a right to report just not inaccurately.

 

I still say they have no right to default you, they didnt purchase this as a running account it was already closed and ceased, Egg should have defaulted you if they so wished, they were happy not to, so they(arrow) cannot provide the full functionality as an original creditor and hence lose the right to record a default, I might be wrong but thats my opinion.

 

Raise a formal complaint with arrow in regards the default/balance being inaccurate and state you will complain to the ICO in 14 days if they dont correct, send signed for or obtain proof of postage.

 

S.

[the_shadow]

Arrow as the new owner can default the account.

By the time you received the NOA Arrow will have

had the account for some time, the date on the NOA

is not necessarily the date Aquiered the debt.

You need to challenge the balance with Arrow,

write to their compliance disputing the amount

claimed do not admit liability to Arrow.

 

There are always delays in entering these tranacations

on the CRA vfiles.

 

If shown the purchase date HAS to be accurate otherwise the notice of assignment becomes null and void.

 

S.

Edited June 17, 2012 by the_shadow

[dx100uk]

i have merged three threads on this EGG issue.

 

and re-titled the thread.

 

i seriously think you also need to re-ivestigate the PENALTY charges & PPI when it was still a credit card

as i dont think they have be refunded properly

 

if this was not done correctly, then you'd hve been charged

extra interest on these when it became a loan, and are prob due

a larger refund.

 

have you ever SAR'd EGG.

 

dx

[thepopman]

Hi guys thanks for the messages.

I have been unable to access for some time and not received any e-mails notifications regards to posts so sorry in delay in reply

 

I would be grateful if someone could give me some wording to send to Arrow. as I am slightly unsure as how to word this with the comments that have been left.

I was called by the collecting company asking for higher payments and I advised them of the situation and they advised me that they would contact Arrow.

 

I also advised them that I was not going to offer any more as this account is wrong, no credit has been offset for the amount Egg held from PPi and if I recalculate then I believe the balance is Zero or very close.

Thanks

 

I will be on here more often from now HOSNEST!!