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Egg PPI


Mairi
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Sent my SAR to Egg and received 11 yrs worth of documents, all except my CCA which fortunatley was one of the only things i had kept a hold of. It contains no mention of PPI.

 

To cut a long story short -ish, took out an egg card late 1999, balance was reduced by an egg loan in march 05, then another loan in June 06. So its taken till this year to finally pay off this lot.

 

Sent my FOS questionaire and letter claiming back all the PPI and interest added.

Reason behind mis-selling, insulin dependant diabetic since i was 12 and i was also a part time temporary worker doing less than 16 hrs.

 

I posted my letter last Friday, got an aknowledgement of complaint yesterday and a sod off today. Must be a template fob off for anyone applying for CC online.

 

They say "after carrying out a full review" took me 2 weeks to go through all that paperwork.

 

Our online sales process *Does not require you to take ppi as a condition,

*Does not provide an advisory service,

*Requires you to positively confirm that you wish to purchase this policy

*Provided full terms and conditions of the policy requested.

 

this letter is our final response.

I would not have ticked a box to pay more for credit as i couldn't afford to. And wouldn't have signed a contract with it . It doesn't look like they have read any of my reasons, more like she applied online so don't give her a penny. Called the FOS and they say 9 months to 1 year before they get round to dealing with cases.

Not sure which way to jump now, thought i had a good case and was pencilling in a week away in October. Any advise would be appreciated.

Mairi.

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Hi

 

Well you have a choice given that they have told you this is their final response.

 

You can either pass it to fos or you can sue.

 

Have done a spreadsheet to quantify your claim?

 

Regards

 

ims

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

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I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

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Thaks for the reply ims.

Have my calculations and just realised i did it wrong, used the monthly interest rate instead of the APR, in the compound interest calculator. Trying to redo but Egg changed their rates so often having difficulty working out the APR. Monthly rate x12 does not give me the correct figure. Sorry just found an interest rate converter that will do it for me.

Mairi

Edited by Mairi

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Hi

 

You can take the average of their monthly rate over the period of time and then convert that to the APR.

 

Regards

 

ims

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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  • 5 months later...

Have already had a few rejections to my egg ppi claim. Circumstances have meant that i have not followed up my complaint till now. But have now decided to go down the court route rather than the FOS way.

Took out a card with them in 1999 which they automatically added ppi to. Interest rate on CC went up every few months so i was going to use an average to tally up the interest added on that.

In 2006 my card was closed and the balance put into a loan, with an interest rate of around 8%, no ppi on the loan although it would have been full of the ppi charges from the CC.

 

Have been going round in circles for a while now trying to work out how i should proceed. I've done around 6 different spreadsheets and still cannot make up my mind. I'm really not sure on how to (or if i should) change my calculations from the end of the card and beginning of the loan -- to the end of the loan which was only paid off around 8 months ago.

I hope this makes sense, and any advice to point me in the right direction would be greatly appreciated.

mairi

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two threads merged

please keep to one thread for this claim.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Have already had a few rejections to my egg ppi claim. Circumstances have meant that i have not followed up my complaint till now. But have now decided to go down the court route rather than the FOS way.

Took out a card with them in 1999 which they automatically added ppi to. Interest rate on CC went up every few months so i was going to use an average to tally up the interest added on that.

In 2006 my card was closed and the balance put into a loan, with an interest rate of around 8%, no ppi on the loan although it would have been full of the ppi charges from the CC.

 

Have been going round in circles for a while now trying to work out how i should proceed. I've done around 6 different spreadsheets and still cannot make up my mind. I'm really not sure on how to (or if i should) change my calculations from the end of the card and beginning of the loan -- to the end of the loan which was only paid off around 8 months ago.

I hope this makes sense, and any advice to point me in the right direction would be greatly appreciated.

mairi

 

You need to calculate the amount of PPI and associated interest paid to the card right up to the date the loan took over. This is effectively the amount included in the loan for ppi and its interest i.e. the amount which you were wrongly charged.

 

Work out the percentage of that amount relative to the total loan amount and you can then calculate what interest and ppi you paid through the loan.

 

The FosRunning spreadsheet can help you with the first calculation and the StatInt sheet can help you with the loan bit.

 

ims

 

 

FosRunningPPI v101.xls

StatIntSheet v101.xls

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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Many thanks for your help ims.

Ok, so i've done the first sheet and worked out that ppi payments and ass interest comes to nearly £2k which then became a £6k loan at 7.9%. do i treat the £2k as a single premium ppi payment added when the loan starts? There were no further ppi payments on the loan. Not too sure about this part.

And thanks again for your assistance.

Mairi

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Many thanks for your help ims.

Ok, so i've done the first sheet and worked out that ppi payments and ass interest comes to nearly £2k which then became a £6k loan at 7.9%. do i treat the £2k as a single premium ppi payment added when the loan starts? There were no further ppi payments on the loan. Not too sure about this part.

And thanks again for your assistance.

Mairi

 

Hi

 

Yes you're nearly there.

 

Just a couple of points to mention. When you work out what ppi and interest was transferred into the loan, only take account of the premiums and the compound interest amounts from the FosRunningPPI Sheet. Do not include the 8% as this is really compensation.

 

Yes, you can treat the amount rolled into the loan as a single premium because we want to work out the 8% interest on the payments made through the loan. However, when you get to working out what is due back on the loan, take only the amount of 8% interest as shown in the Award Calculation box as coming back to you. This is because the premiums on which that 8% is claimed will actually be paid back via the credit card.

 

ims

Edited by ims21
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If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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  • 2 months later...

Managed to eventually finish my spreadsheet with many thanks to ims, sent off my letter and received a letter from egg this morning. It's just as well i can laugh, ......... "we've already told you to sod off twice now so here is number 3 and we will not respond to you again.". :jaw:. Downloading Small Claim form as we speak.

M

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