Where do I stand on this one? Egg loan sold to dca who cant provide cca

[mines a pint]

Been in a payment plan with Egg for the past two years in respect of an egg loan (pre CAG days, was paying more then I could 'comfortably' afford), all of a sudden Apex sent a letter stating they've bought all rights, interests & benefits. Advised to phone them to discuss payments & set up a direct debit so payments can be made direct from my bank.

 

Included was a letter from Egg, doesn't look like a genuine Egg letter as its in black & white.

 

I suppose first step is a cca request & not to telephone them.

[WelshMam2009]

I'm in the same boat also. I need to dig out my loan agreement as I know I used it to consolidate other debts, such as my Egg card. Not sure if this constitues a multiple agreement and/or the implications thereof. I have to confess that I had just assumed that the Egg loan would be enforceable to be honest. Think mine was taken out circa 2003/4.

 

As you say, the Egg letter has clearly not been produced by Egg and, if it's like mine, probably doesn't even have an account reference number on it!

 

Your choice, but I wouldn't jump the gun. Challenge the validty of the assignment notice that they have sent you, first, and tell them that you don't believe it was produced by Egg.

Edited November 19, 2010 by WelshMam2009
Grammar!!

[mines a pint]

Snap - exactly the same scenerio as you.

 

Been paying egg coz I was under the impression its enforceable, never challenged it.

 

They got me to convert my egg cards into loan, again as you thus was '03/04 ish.

 

Just had another look at the 'Egg' letter & there is no account number

[Bazooka Boo]

It will have been sent by Apex, nothing you can really do, except dig your heels in and make them work for the money!

[mines a pint]

Update to this, have requested cca from Apex, not received back yet BUT they are getting stroppy coz I've not paid them yet (I will only pay via Standing Order but cant until they supply the info), they told me to stop paying Egg, however, the day after the 'normal' payment to Egg Apex sent a stroppy letter demanding the missed payment or they would serve a Default Notice.

 

Now the interesting part for which I would like to seek advice, Egg served a DN in October 2008 which shows on my CRA file, however I checked my CRA file today & was shocked to find that the date of this DN has been changed to December 2010 - surely this isnt allowed?

 

MaP

[harrassed senior]

Hopefully you have a copy of the previous entry and this is most certainly NOT allowed. They can 'take over' the original entry but the first Default Date MUST be adhered too.

 

Write to CRAs and inform them of this and they should change this back.

 

Personally, I would complain to everyone I can about this.

 

Just a thought though, does the new date show the date the CC debt was changed to a new Loan, and did you sign anything at that time, ie a new Agreement?

[mines a pint]

Hopefully you have a copy of the previous entry and this is most certainly NOT allowed. They can 'take over' the original entry but the first Default Date MUST be adhered too.

 

Write to CRAs and inform them of this and they should change this back.

 

Personally, I would complain to everyone I can about this.

 

Just a thought though, does the new date show the date the CC debt was changed to a new Loan, and did you sign anything at that time, ie a new Agreement?

 

 

Thanks hs,

 

Firstly I do have a print out of my CRA file prior to Apex buying this debt, so have proof of the original DN date.

 

It still shows as Egg being the OC & with the original loan date.

 

I have signed nothing regarding any new agreement, in fact I have been paying Egg by arrangement since '08 without any problem so was a little P'd off when Apex said they bought all rights & duties.

[harrassed senior]

So, definetely contact all 3 major CRAs with a copy of the previous entry and inform them they have 28 days to correct the entries.

[Bazooka Boo]

Blimey HS your defo in the Christmas spirit!!! 28 days.....!!! The incorrect data is to be removed immediately, or on seeking legal advice, further action against the CRA's & the DCA/OC will be taken.

 

Also lodge a formal complaint about these inept CRA's changing and allowing your personal info to be altered without your knowledge to the ICO.

[harrassed senior]

Was feeling a tad 'generous'

[mines a pint]

Thanks for your advice, template letters downloaded from Experian to send off.

 

Printed off copies of the CRA report & while cutting out the relevent file to stick to the letter noticed something very strange & dont know if it effects anything, brief history :-

 

2005 loan taken out for £13k at £200 per month repayment term 84 months.

2008 fell into financial hardship, Egg informed & agreed (in writing) to freeze interest and accept £100 per month - stuck to this arrangement religously until debt sold off to Apex (cca requested & details of setting up Standing order).

 

On checking the CRA DN date changed from original date to a more recent date but still showing original loan agreement date & still in Egg's name.

 

However, as I was cutting out the file I noticed that the 'Repayment Period' is Monthly Payment : £75 over 157 months ? ? I have never agreed any 'new' terms & have never signed anything relating to those terms.

 

I did SAR Egg beginning of the year and the only CCA supplied was the original one for £200 over 60 months & nothing relating to £75 also nothing listed in their comms log or paperwork.

 

Not really sure what to do about this or whether I can formally dispute this debt as there is no cca for £75 per month x 157 months.

 

Any advice would be greatly received.

 

MaP.

Edited December 17, 2010 by mines a pint
Correction of original figures

[mines a pint]

Bump for advice

 

In addition to the last post I made, I have searched out the agreement & DN for this loan, it has a completely different account number.

 

So it looks like Egg have drawn up a new agreement & payment terms without my knowledge, surely they cant do this without informing me & requiring my signature on a new agreement?

 

All payments made have been done under the original agreement number.

 

MaP

[Master Chief]

Sorry to hijack your thread mines a pint, but I too have a defaulted Egg loan taken out in 2001 for which I'm repaying and I'm pretty sure that I used the loan partially to clear an Egg credit card!

 

I don't really understand the importance of this 'multiple agrrements', could someone briefly explain what the implications are?

 

Cheers. MC

[Bazooka Boo]

The default date on your credit reference file (CRF) cannot change, if as you say it has, then you MUST inform the CRA's and have this incorrect data, corrected, OR you WILL take legal action to have it corrected and claim damages in the process from the CRA who has allowed incorrect data to be added to your file without your permission or knowledge, AND from the company who purports to be in a position to process your personal data.

I ruddy well despise CRA's they are no better than DCA's, they need a damn good shoeing IMO, the more people that complain about their underhand and quite frankly, abhorrent tactics, then the sooner they will become independent of the DCA's who pay their wages...

 

Did apex send you the CCA? If so can you scan and post it up.

The agreement IS with EGG, NOT apex, it might have been sold to them but there is NO new agreement between you and them.

Did you receive a NOA from EGG? And another from apex saying that they were now the owners of it?

 

Hammer the CRA's first, if they won't adjust the date of the default back to it's correct date, then inform the ICO and SERIOUSLY consider legal action against them and apex.

 

Also lodge a formal complaint with the OFT&TS via http://www.consumerdirect.gov.uk/contact and inform them of the underhand tactics of the CRA as well as apex changing the date of default..

[mines a pint]

Thanks BB much apprieciated.

 

Letters re cra have gone off in todays post.

 

Ia at a loss regarding this new agreement number & repayment terms - everything I have is in the original agreement account number.

 

Not heard from Egg for two years, just kept paying them the agreed amount (under original agreement number).

 

The Apex 'wecome' letter also had an Egg letter (with no account number) obviously printed on Apex printers stating they had sold the debt to Apex.

 

Apex have not as yet replied to cca request, they wont be able to supply one under the account number they are chasing for.

 

Tempted to send a bemused letter denying all knowledge of the quoted reference number.

 

MaP

[Bazooka Boo]

Glad I caught you on here, if they have failed to respond or send you the CCA in relation to your request, "12 'working' days" from them receiving it then you are 'legally' allowed to withhold all and any payments until they do.

IMO this is what I would do....as they have foolishly fabricated a new agreement you have never agreed to nor signed!

[mines a pint]

Once again thanks BB.

 

At the mo their still within the 12+2 days.

 

For my own peace of mind I am still paying Egg by S/O the agreed amount under the original agreement.

 

Just wanted to clarify if they (Egg) can change agreement & repayment terms without my consent (and signature).

 

Had a similar thing with Barclays last year when after admitting mis selling ppi there was a balance still owing in which I had to sign a new agreement for the balance.

 

Thanks again

[Bazooka Boo]

Just wanted to clarify if they (Egg) can change agreement & repayment terms without my consent (and signature).

No they can't, well they will but it won't be enforceable.

 

Had a similar thing with Barclays last year when after admitting mis selling ppi there was a balance still owing in which I had to sign a new agreement for the balance.

Please tell me you didn't sign any new agreement with sharklays?

Ruddy fleecers, that is a clear indication that they didn't have the correct paperwork for the previous agreement, if they had you sign a new one.

[mines a pint]

Ruddy fleecers, that is a clear indication that they didn't have the correct paperwork for the previous agreement, if they had you sign a new one.

 

Hi BB,

 

Regarding Sharkleys, I hold my head in shame (my pre CAG days) after threatening all sorts action they admitted mis sellling ppi on a loan, after refunding premiums & interest there was a balance of about £1200 which I was told I had to either pay in one lump or new agreement over 12 months - if only I knew then what I know now.

 

Returning to Egg, finding several things wrong apart from different agreement number & repayment terms.

 

After Egg agreed lower payments they stopped added interest to the loan - or so they stated - found an annual arrears statement that shows that out of the payments made after the arrangement £260 was taken as interest.

 

Is there any difference as to who signs and dates an agreement? My agreement is signed & dated by Egg BEFORE it came to me for signature.

 

Although payments are still going to Egg, Apex is now threatening litigation (as they have found out that I am a homeowner) because no payments are being made ( even though the balance on their threat-o-grams is reducing!).

Edited December 22, 2010 by mines a pint

[mines a pint]

After Egg agreed lower payments they stopped added interest to the loan - or so they stated - found an annual arrears statement that shows that out of the payments made after the arrangement £260 was taken as interest. Would this invalidate the assignment?

 

 

Is there any difference as to who signs and dates an agreement? My agreement is signed & dated by Egg BEFORE it came to me for signature.

[Bazooka Boo]

Is there any difference as to who signs and dates an agreement? My agreement is signed & dated by Egg BEFORE it came to me for signature.

 

AFAIK this will not affect the agreement, as there must be two signature on the document, yours, and theirs.

[Tingy]

Going right back to the start, Apex obviously told you they'd bought the debt. Did Egg give you a Notice of Assignment that they'd sold the debt?

[molly13]

Hi,

 

Interestingly my OH also received letter from Apex in November claiming that Egg had sold the account to them, same scenario with alleged NOA from Egg with no account number.Obviously from the same batch of accounts got rid of.

He wrote to Apex and queried this and received the following reply last week:

 

Re Egg Banking plc v xxxx

Debt outstanding £xxx

 

The balance outstanding to our client is shown above.

 

Yours bla bla.

 

Not signed at all.

 

If Egg has sold the account then why is Apex referring to 'our client'? Experian is still showing up as Egg.

 

Regards

Molly:-)

[Tingy]

Hi,

 

Interestingly my OH also received letter from Apex in November claiming that Egg had sold the account to them, same scenario with alleged NOA from Egg with no account number.Obviously from the same batch of accounts got rid of.

He wrote to Apex and queried this and received the following reply last week:

 

Re Egg Banking plc v xxxx

Debt outstanding £xxx

 

The balance outstanding to our client is shown above.

 

Yours bla bla.

 

Not signed at all.

 

If Egg has sold the account then why is Apex referring to 'our client'? Experian is still showing up as Egg.

 

Regards

Molly:-)

 

Hence my question. I doubt Apex have had an absolute assignment if they are referring to Egg as their client. They MAY possibly have had an equitable assignment. Unless absolute they cannot take legal action unless it is done jointly with Egg.

[molly13]

So how do you find out what sort of an assignment it is?

 

Molly