Advice on EGG Loan agreement please!

[bobogosing]

]Hello,

 

Can someone please have a look at this Egg loan agreement?

I want to offer EGG a F&F settlement. If the agreement is unenforceable, I am hoping I can offer at a low % as I need to pay back the lifeline I am getting from a member of family. Hope I am making sense.

 

 

bobo

 

Hopefully these are better to see.

Edited September 10, 2010 by citizenB
tidying up thread with broken links

[bobogosing]

http://i1011.photobucket.com/albums/af236/bobogosing17/eggcca.jpg

http://i1011.photobucket.com/albums/af236/bobogosing17/cca2.jpg

http://i1011.photobucket.com/albums/af236/bobogosing17/cca3.jpg

[bobogosing]

:???:Sorry for all these uploads. Its really complicated all these high tech.

 

bump....bump....bump!

 

Anyone there:sad:

Edited September 10, 2010 by citizenB
merged 3 bumps to tidy thread :)

[Guest Jason King]

Hello

 

I believe your agreement is unenforceable due to the loan and PPI being on one agreement, it should be seperate.

 

I'm sure someone will be along soon!

[bobogosing]

Thanks Jason for reading my post. Can some one tell me, on this statement http://i1011.photobucket.com/albums/...ing17/cca3.jpg

On 15 Nov 2007, PPI Removal & Credit, what does that mean? Does this effect the agreement? Really appreciate any advice. Thanks bobo

[bobogosing]

Morning everyone! bump bump.......please someone have a look at mt egg loan cca. Thanks bobo

[bobogosing]

bump:-(

[The Debt Star]

subbing. thx.

[citizenB]

Thanks Jason for reading my post. Can some one tell me, on this statement http://i1011.photobucket.com/albums/...ing17/cca3.jpg

On 15 Nov 2007, PPI Removal & Credit, what does that mean? Does this effect the agreement? Really appreciate any advice. Thanks bobo

 

Hi, responding to your S.O.S.

 

Did you ask for the PPI in the first place ? Did you ask for the PPI to be cancelled ? This looks to me as though they have refunded an amount through the PPI which has been credited to your account.

 

I would have thought that the agreement would have then had to be restructured ? It doesnt look right to me, but in what way, I dont understand.

[bobogosing]

Hello citizenB, really appreciate your time. No, I didn't ask for PPI. Where do I go from here please? Can I offer them F&F settlement offer at a low % if the agreements is not right?

[silverfox1961]

This is purely speculation on my part.

I have been doing some looking around and I remembered this

http://www.consumeractiongroup.co.uk/forum/showthread.php?171037-Multiple-agreements-falling-within-section-18-CCA-1974&p=1845581&viewfull=1#post1845581

 

In my opinion, there is possibly another issue

The CCA 1974 (as amended) only covered debts up to £25,000(this limit was removed in 08 I think) and the total amount credited was over £28k

 

I also think the paperwork should have been redone as without PPI payments, your monthly payment should have been reduced

 

(preparing to be shot down in flames:razz:)

[The Debt Star]

I also think the paperwork should have been redone as without PPI payments, your monthly payment should have been reduced

 

(preparing to be shot down in flames:razz:)

 

You are correct, the loan should have been re-scheduled but can be done now. the ppi needs to be refunded in full plus interest, for both the period prior to the default and for the balance ppi. It is also single premium ppi which is the biggest rip-off known to man.

 

calcukate the ppi rebate, stick in the ppi claim form on the fos website and then mske a 50% f&f MINUS the ppi claimed.

[bobogosing]

Thanks all. Need to get off the internet, will read all PMs and replies and I will keep you all update later tonight. bobo

[Bigdebtor]

You are correct, the loan should have been re-scheduled but can be done now. the ppi needs to be refunded in full plus interest, for both the period prior to the default and for the balance ppi. It is also single premium ppi which is the biggest rip-off known to man.

 

calcukate the ppi rebate, stick in the ppi claim form on the fos website and then mske a 50% f&f MINUS the ppi claimed.

 

I agree with everything apart from the last point. I think it's far too early to offer anything like 50%. Again is this your copy of the agreement - or did you get it from Egg? Again Egg may well not have their copy of the ORIGINAL signed agreement - not not needed to satisfy CCA request - but IS needed to enforce the debt- so don't let them know YOU have your copy.

 

I got a 40% deal on an RBS/Direct Line loan - after paying zero for over 3 years - because they kept sending me copies of a LOMBARD loan agreement - totally different to the Direct Line one I had - and I got them to admit in writing it was a "true copy". They then settled for 40% PDQ - might have got even better but I was just so glad to get them out of my hair after 3+ years of letter tennis.

 

Just another point - if the PPI charges are to be refunded plus interest - does the arrears quoted not end up wrong and invalidate any DN? What is the DN/TN situation here?

 

BD

[bobogosing]

I agree with everything apart from the last point. I think it's far too early to offer anything like 50%. Again is this your copy of the agreement - or did you get it from Egg? Again Egg may well not have their copy of the ORIGINAL signed agreement - not not needed to satisfy CCA request - but IS needed to enforce the debt- so don't let them know YOU have your copy.

 

The agreement is from EGG. Its was sent to me when I cca them.

 

I got a 40% deal on an RBS/Direct Line loan - after paying zero for over 3 years - because they kept sending me copies of a LOMBARD loan agreement - totally different to the Direct Line one I had - and I got them to admit in writing it was a "true copy". They then settled for 40% PDQ - might have got even better but I was just so glad to get them out of my hair after 3+ years of letter tennis.

 

Just another point - if the PPI charges are to be refunded plus interest - does the arrears quoted not end up wrong and invalidate any DN? What is the DN/TN situation here?

 

I have no idea:???:, need to SAR Egg so that I know where I stand. Do I send the SAR request to the same address where Payplan is paying my monthly payments? Thanks bobo

 

BD

I feel so useless, just wished I kept all the paperwork then I wont need to go through this.

[Bigdebtor]

Just another point - if the PPI charges are to be refunded plus interest - does the arrears quoted not end up wrong and invalidate any DN? What is the DN/TN situation here?

BD

 

Bobo

I'm hoping someone will see this bit and tell us. I don't know either.

BD

[Bigdebtor]

I feel so useless, just wished I kept all the paperwork then I wont need to go through this.

 

Doing a SAR is easy once you've got the template the way you want it on your PC. The real work is for the OC who has to do hours of work getting the stuff for you for a paltry £10 payment - poetic justice though!

BD

[bobogosing]

Doing a SAR is easy once you've got the template the way you want it on your PC. The real work is for the OC who has to do hours of work getting the stuff for you for a paltry £10 payment - poetic justice though!

BD

 

Well, that a consolation!

[bobogosing]

While I've been digging aroung for paperwork. This have caught my attention.

 

" We would ask you to note very carefully that in financial mis-selling cases, which fall under the rules of contract law, court proceedings must be commenced within 6 years of the date of breach of contract. If not your claim will be statute barred, which means that you will not be able to pursue your claim in the Courts and may have no legal remedy."

 

This was send by a solicitor firm. Is this true?

[Bigdebtor]

I believe he labours under a common misconception. General Lawyers usually do!

 

As I understand it the 6 years starts from when you KNEW about it - not from when it first happended. Look at some of my postsv in the Capital One threads and you'll see more on the Limitation SAct which is what he refers to.

 

BD

[bobogosing]

I believe he labours under a common misconception. General Lawyers usually do!

 

As I understand it the 6 years starts from when you KNEW about it - not from when it first happended. Look at some of my postsv in the Capital One threads and you'll see more on the Limitation SAct which is what he refers to.

 

BD

 

Oh, I see!! Thanks

[bobogosing]

Morning All!

Can anyone tell me, once the defaults been on the credit file for 6 years, what happens next? As I understands the defaults are wiped off after 6 years but what happens if the debts are not paid off?

[silverfox1961]

Morning,

Although the debt exists after 6 years it won't show on your credit file. No creditor can add another default to your file

If you haven't paid anything in those 6 years nor said, "yes this is my debt" then that's it, it's Statute Barred

[Bigdebtor]

SF

 

What about the case where you haven't paid or acknowledged a debt since say, Oct 2004 - but you got a DN on it (out of the blue) in Aug 2010. Does this Default stay on your file until Aug 2016 - or disappear when the SB date of Oct 2010 comes along? I take it that in any case the debt is still SB in Oct 2010?

 

Also do you know anything about the possibility that the time period for anything on our credit file was going to be (or may still be) reduced to 3 years to help people move on more quickly afer sorting themselves out?

 

I ask because I have a couple debts approaching the SB time - but the DN's on them are a lot more recent, and while I never intend to borrow personal loans or use credit cards again, I would like my file cleaned up in order to get better mortgage deals or car finance more easily in future.

 

BD

[silverfox1961]

SF

 

What about the case where you haven't paid or acknowledged a debt since say, Oct 2004 - but you got a DN on it (out of the blue) in Aug 2010. Does this Default stay on your file until Aug 2016 - or disappear when the SB date of Oct 2010 comes along? I take it that in any case the debt is still SB in Oct 2010?

 

It all depends on what date is on the DN. If the DN's date is OCT 04 then it will disappear OCT 10.

If they have placed a brand new default dated AUG 10, complain to them and Trading Standards as the OFT guidance states that defaults should be placed in a timely manner and certainly within 6 months of non payment

 

Also do you know anything about the possibility that the time period for anything on our credit file was going to be (or may still be) reduced to 3 years to help people move on more quickly afer sorting themselves out?

 

I did read that but nothing has come of it (that I know of)

 

I ask because I have a couple debts approaching the SB time - but the DN's on them are a lot more recent, and while I never intend to borrow personal loans or use credit cards again, I would like my file cleaned up in order to get better mortgage deals or car finance more easily in future.

 

BD

 

Hope that helps