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PPI Claim

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Hi All,

 

Ive been going through all my accounts lately to see where I currently am with my finances and noticed something on my Egg account which i think i really need to sort out.

 

A bit of back ground info;

about 7 or so years ago I had an Egg credit card, being young with new found spending power i went a bit silly and spent over my means, I couldnt afford the repayments and started getting charges. After a lengthy call to Egg, they suggested me cutting the card up and them giving me a consolodation loan, which i have been religiously paying ever since. While at the time i was greatfull for egg offering me the loan as it helped me out of a hole and start getting back on track, looking into the account a little deeper i can see a few problems.

 

Firstly, to help me manage the payments they put me on a '7 year term' for a loan of £2900. Admittedly i should have looked further into this as i would have probably seen that i could have cut the loan short by a few years and the repayments probably wouldnt have been greatly increased over what they were. I know there isnt exactly anything i can do about this but its annoying all the same.

 

Now I believe i can do something about the PPI, which i was led to believe i needed to obtain the loan. Looking into the detail of my loan, the PPI was also on a loan basis @ £730, which i assume i would have been charged interest on this (10.9% apr).

 

I only have £430ish left to pay, but the loan doesnt mature until the last quarter of 2012, so alot of this is obviously interest too.

 

From reading a few posts i can see that Egg dig their heels in regarding PPI claims by saying they cant miss sell due to it being automated and you clicking that you want the insurance, now my case is different as the account was dealt with over the phone.

 

Do i have a good case for refund of PPI paid? And would my first step be a SAR?

 

Thank you in advance for any help you can offer me

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Sorry to bump, but can anyone help with advise me on this?

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Hi Stu

 

You can reclaim PPI; read other threads and do a site search for PPI.

 

SAR is a good idea to identify the premiums, interest and charges if you haven't got all statements.

 

x

 

v

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Thanks for that Victoria I just wanted to check before I start making waves. I'll send the SAR off this weekend :)

 

Thanks again

Stu

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Hey Stu,If your loan is over 7 yrs old, EGG won't send you anything even from a SAR. They cashed the PO for a tenner that I sent them, then they replied in a letter that they have no records over 6 yrs old and therefore it is their policy not to look into PPI claims on loans older than 6 yrs.I am about to fight them, if I can get some help. I started a new thread today :)

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