cupcake68 Vs Egg

[gh2008]

To be honest, where the alternative is for a CCJ against you with possibly a forthwith order which you then would not be able to comply with, which could then be turned into a Charging Order etc etc

 

and the alternative is £5 a month for the rest of your life and no CCJ against you and technically the default should also be removed from your credit file (as this would be a new agreement in effect which you would be keeping to - although the credit file would still show the balance outstanding)

 

I know which one I would go for ........

[cupcake68]

So do you think I should agree the £15188?

 

Cupcake

[gh2008]

In reality @ £60 pa does it really make any difference??

 

There is no proviso for change in circumstances or anything - it is a staggeringly bad IMHO (for the creditor) agreement

 

I would get proper legal advice re your will & your estate though as you would want to avoid this being taken off it when the time comes I presume .....

 

I would snap their arm off before they get their act together TBH .....

[Gallahad]

I agree with Gh and down the line a bit they may take an offer of F&F as their costs to administer will outway any profit

GH

[gh2008]

Had another think about this and the only 'Gotcha' I can see for you (apart from the points raised earlier about your estate etc.) is ensuring the £5 pcm reaches them on time.

 

Ensure you set up a Standing Order NOT Direct Debit straight to Carter or Egg (whoever the payment are to be made to **you need to check that**)

If you don't have a bank account then open one just for this as you do NOT want any cheques or Postal Orders to not be received on time as you are admitting your liability to the outstanding balance.

 

IMHO, in reality they (Egg) are not even interested in your £5 pcm they are interested in the fact they now have an admitted liability of £15k on their books rather than a 'worthless' disputed account.

[cupcake68]

Hi

 

The long term is my only real reason for questioning this. Obviously £5 per month is a great result but £1400 further down the line will probably still be a lot of money to me and I do not want to have shot myself in the foot at this stage in a rush to get it settled.

 

I do have a bank account and I will ensure the SO set up some time before it is due in case of any problems.

 

Thank you all for your great advice on this and many of my other threads.

 

Cupcake

[gh2008]

To put this into perspective it's the difference between repaying the debt in full over 230 years or 250 years

 

I'm not sure that it really matters does it??? Forget 'the principle of it' just take the offer before it becomes more realistic!!

[cupcake68]

So do I need to worry about the wrong court being on the document or do I just sign and send back?

 

Cupcake

[Bigdebtor]

Cupcake

 

I agree that this is not worth jeopardising the (pretty good!) deal for - but given they will probably want to offer ( or you will want to offer them?) a low F&F in a few months' or years' time then (once your finances are better?) then it is worth a small bit of effort to try to get the balancve agreed at the earlier amount.

 

Even at 10 -25% F&F this will save you a few hundred pounds of your own money in future.

 

With this in mind why not send a "nice" letter to Uncle Bryan along lines of:

 

Thank you for your letter of XXX. I am pleased to accept your offer of £5 per month in principle with immediate effect and enclose my first payment in the form of cheque no. xxxxx. I propose to set up a Monthly Standing Order Mandate for £5 per month to be paid into the account in the name of XXXXX at Sharks Unlimited Bank plc, Sort Code: Xx XX Xx, Account No. XXXXXXXX starting on XX March 2011. I say I accept this offer in principle as I would ask that you confirm how you have arrived at the current balance as stated by you.

 

According to earlier correspondence the amount outstanding on XX/xX/xxxx was £xxxxx.xx but you have now stated the balance currently outstanding is for £xxxxxx.xx - i.e. some £xxxx.xx more than I was anticipating. Since it is agreed that I shall not be liable for costs I am somewhat confused as to how the balance has grown in the interim and would be grateful if you would check this out and if you still feel your new higher balance is correct I would appreciate your clarifying the reasons for this increase before it is time for the first payment to be met by monthly standing order with the first payment leaving my account on Xx March 2011 and all future payments to be made on the xxth of the month or, wher ethis is not a bank business day, the earliest subsequent bank business day.

 

Hope this helps?

 

BD

[cupcake68]

Thanks BD

 

I will do as you suggested being as I need to ask them to correct the order anyway!

 

Cupcake

[cupcake68]

Hi Guys

 

I have just sent a chase letter to BC because I have not had a corrected order through to sign or any response to my last letter but the cheque I sent for the first monthly payment was cashed!

 

I have also spoken to the court today who cpnfirm they have not been doing anything sneaky behind my back. I have sent copies of all correspondence tp both the court and Egg just to make sure evryone is aware of the current situation.

 

Can I just ask one question that is bothering me ?

 

If Egg are the Claimants do they definitely still own the debt or could BC have bought it from them?

 

The reason I ask is in BC's letter accepting my offer they did not say at any point they have consulted with their client it just said they are willing to accept!

 

Thanks

 

Cupcake

[cupcake68]

Hi

 

Reply from BC today.

 

Includes a copy of the same consent order (still stating Bristol County Court and Maidstone County Court and the same figure). Attached is a compliment slip with a hand written note.

 

"Please sign and return the attached consent order. Once we have received this we will forward to the court for it to be sealed. Look forward to hearing from you."

 

What a load of muppets?!!!

 

They have totally ignored my letter explaining that I was confused why it would say Bristol County Court and no surprise they have also ignored my request for a breakdown of charges!!!!

 

Would I get into any trouble for signing an order that mentions a different court?

 

Thanks

 

Cupcake

[Bigdebtor]

Cupcake

 

I would not sign something that's wrong - as a matter of principle I would give them as much extra work as possible and just write again pointing out their mistake once more - enclosing a further copy of the last letter which told them - and asking again for the breakdown of charges.

 

JMHO.

 

BD

[cupcake68]

Thanks for the advice BD

 

Did you see my post before last?

 

I am wondering if BC own this debt and I'm not sure what that means for me ?

 

Cupcake

[Bigdebtor]

BC tend to be Egg's tame lawyers - along with Fredrericksons who are Egg's heavy mob.

 

I doubt if they own this debt as I don't think that's their normal modus operandi - and if they do now own it then you should have got an NOA (from Egg) - and if they don't own it then they need to have EGG take you to court - not just BC alone.

 

I would just concentrate on making them woirk for any money Egg give them as suggested above - keeping copies of ALL correspondence, envelopes etc.

 

BD

 

v

[cupcake68]

It states on the court docs that Egg is the claimant but BC seem to be making all the decisions.

 

I can't actually believe Egg would pay for the service BC give - the are worse than useless!!

 

Cupcake

[cupcake68]

Sorry Guys !

 

But I need a little extra advice on this one please....

 

Have finally received a consent order that doesn't have the wrong court stated on it but...

 

The amount they state still leaves me a little confused.

 

They have sent a two breakdowns now.

 

The first gave an original debt of 14698.58

They then added the following fees

 

Claim Fee 190.00

Claim Cost 100.00

Alloc Quest 300.00

Final hearing -100.00

Final Hearing 100.00

Alloc Quest -100.00

Balance 15188.58

 

I wrote back asking them to clarify where the original 14698 came from because the last statement from Egg listed as follows

 

Opening Balance 14698.58

Charge off Account -13738.33

Refund of Interest -960.25

 

Closing balance 0.00

 

Now I did not have any correspondence with Egg at the time of this account being charged off so i always assumed they refunded the interest because they had made some mistake along the way but if they chose to charge off the account at 13738 is that not what I should be paying (why would I pay the extra 960 when Egg have refunded it to my account?) and my agreement with BC was that we paid our own costs. Does this not mean that all these charges they have added should be removed?

 

I hope this makes sense!

 

Cupcake

[Bigdebtor]

Cupcake

 

I agree with your logic - but have never had the situation you're in - so no experience to give you any advice on the costs etc. Hopefully someone with relevant knowledge or experience will drop by?

 

Have you got all the correspondence from either Egg or BC? If so, does any of it warn about these costs mounting up? Do you also have anything in writing about each paying own costs?

 

Good luck!

 

BD

[cupcake68]

Hi BD

 

Yes I have several copies of the statements from Egg now and also have it in writing that BC agreed to us each paying our own costs!!

 

Cupcake

[Bigdebtor]

In that case I would do another reply expressing your "confusion" -

 

Why is the amount different from that they "inherited" from Egg?

 

Why have they tried to charge you for their costs when they had agreed otherwise in their letter of xx/xx/201X (date).

 

BD

[cupcake68]

Thanks BD

[cupcake68]

Hi Guys

 

It would appear that Egg have sold my debt to Barclaycard.

 

is this the same for all Egg accounts? I'm assuming it is.

 

Does this affect my situation at all?

 

It was Egg that issued the court proceedings so if I defaulted would Barclaycard have to start again or can they continue with the original claim?

 

The letter mentions them re assessing my payments when they are ready just wanted to know my position before that letter arrives.

 

Thanks

 

Cupcake

[MAGDA]

Hi Cupcake, my mother is in the same situation, I think you now have to make payments to Barclaycard for the amount of the court order. Barclays can't make you pay any extra without going back to the court for a variation of some kind. I imagine because they now own all of the egg accounts, including those with court orders attached, that they can recover on those in the same was as Egg. At least this is how I understand it, but would be interested in any other opinions on this as would be useful to know because of my mum's sitation also.

 

Magda