Fredrickson letter re Egg Debt which was sold to Lowell

[MrHat]

Thanks guys

 

As the debt is now owned by Lowell, would I not need to deal with them and not Egg? Or Freds who are threatening court action?

 

Also, the £500 is made up of PPI AND OL Charges. Would the FOS only look at the PPI part of this?

 

Slick - If I use 24.9% then the £500 pretty much swallows up the entire balance. Not sure how sound it is using 24.9% when the interest they were charging was only 16% pa????

[BRIGADIER2JCS]

For the PPI you need Egg as they will

have bought the insurance from either

a subsidiary company or an 3 party insurer.

 

Brig.

[MARTIN3030]

Yes liability falls with the original creditor.

There are some things which do not fall under personal data in a SAR hence the need for a request under CCA in addition.

Irrespective of who owns the account now,it is Egg who you need to be making the claim with,and advising Lowell and FI that you are pursuing a refund which will mean there will be no balance owing at all.

The FOS may consider the OL charges if there is a case under hardship.

 

You need to ask both Lowell and FI for a copy of their complaints procedure.

 

I think also would be an idea for you to have a read in the Egg forums-there is no shortages of others who have gone through this there.

[slick132]

You need to read the Interest Tutorial here - http://www.consumerwiki.co.uk/index.php/Interest_Tutorial

 

Claim interest in restitution at a nominal rate and you don't have to refer either to the actual rate or to the amount of interest that they charged you.

 

[MrHat]

Ok, so I am going to read the egg forums. Just to clarify - do I persue Egg for PPI AND unfair charges or just PPI to Egg and keep charges up my sleeve for later?

[MrHat]

Hi Caggers!

 

Any help?

 

I can't find the Egg Forums. How do I navigate there.

 

Anyone know the answer to my last q (prev post)?

[slick132]

Hi Mr hat,

 

I've moved your thread into the Egg forum for you.

 

You can start to deal with both issues now but always write to Egg separately for default charges and for PPI.

 

By doing this, you can keep your options open about which route to take (direct negotiation, court, FOS) with each issue.

 

[MrHat]

Hi - I sent letters off to egg claiming my money back for ppi and unfair charges but in the meantime had a letter dated 20 Dec from Bryan Carter saying that if I do not pay up, they will persue court action. This is despite me writing to Freds to say that I am in dispute with Egg. ANY IDEAS??? p.s. can we move this to the bryan carter forum?

[slick132]

Drop B Carter a letter confirming their is an active PPI claim on this a/c which is therefore in dispute and if they make any further demands, you'll file a formal complaint with the FOS without further warning.

 

p.s. can we move this to the bryan carter forum?

There is no Bryan Carter forum, nor is there ever likely to be - he'll never be that important !!

 

[MrHat]

Have received an offer in the mail for a full and final settlement for 50% of the balance. I am tempted to take it as think that represents a figure much closer to the true figure owed and I really want shot of this one.

 

Question is: will it be marked as satisfied on my credit file if I pay up?

 

Also: If I agree to pay Freds 50% balance, does that mean that I can't persue egg for the PPI and charges any more?

 

TIA

Edited January 7, 2012 by slick132
sorted typos

[slick132]

Hi MrHat,

 

If you take the a/c balance and deduct the total of charges, PPI and interest, roughly what do you then owe.

 

How does this compare to the F&F settlement figure being offered.

 

If you agree a F&F with Fred's, the a/c will only show as "satisfied" and not "settled". This means you paid less than the full a/c balance and it'll continue to reflect adversely on your CRA records.

 

[MrHat]

depends on what interest rate you use slick. Charges and PPI = £500 of a £1700 balance without interest

 

6 years is up in Jult this year so I suppose it will dissapear from my cra record afet that anyway

[slick132]

I'd use 24.9% on a compound spreadsheet.

 

What does this give you as a reclaim figure approx.

 

When did you last pay anything toward the a/c. This will dictate the date when CRA entries should fall off your records.

 

[MrHat]

with 24.9% in comes out at approx £1900 (50% ppi 50% charges) which is more than the balance. Last payment was May 2006.

 

But would a court give me 24.9%? If it's only 8% then that makes a huge difference and why I am tempted to settle.

 

If I agree to pay Freds, does that mean that I can't persue Egg for the PPI and charges any more? Or could I settle with Freds but still persue the original creditor?

[slick132]

Forget dealing with Fredricksons. They are only chasing this now because, in July, it'll be Stautue Barred.

 

Tell Freds to take a hike as the PPI and Charges are in dispute and will probably clear any alleged debt. If they contact you further, report them to the FOS for breach of the Debt Collection Guidelines.

 

Write to Egg (now BC) claiming back PPI and Charges as per your spreadsheets. You could say something like:-

 

Dear sir or madam,

 

Egg Card No. xxxx xxxx xxxx xxxx

WITHOUT PREJUDICE, save as to costs

 

I refer to the above credit card account and enclose two spreadsheets listing Default Charges and PPI. The spreadsheets include compound interest in restitution which I claim as per the case of Sempra Metals v Inland Revenue Commissioners.

 

You will see that the total refunds which I now claim amount to £xxxx.xx compared to the balance allegedly owing to you of £xxx.xx. I am willing to forego the balnce repayable to me as long as you agree to reduce the account balance to zero and remove any adverse credit markers, Default Notices, etc.

 

If you fail to agree to this, I will start county court action against you to reclaim the Default Charges, PPI and compound interest in restitution. If you force me to do this, you will have to pay not only the charges that I now reclaim but also court costs plus legal fees associated with defending my claim.

 

It would therefore seem a sensible commercial decision on your part to accept my proposal to save everyone time, effort and expense. This would also avoid troubling the court system with a case that should be easily resolved by negotiation.

 

This matter is in clear dispute and it is your responsibility to ensure that no further collection activity takes place.

 

If you fail to refund as per my reasonable request, I will bring this letter to the court's attention as evidence of my attempts to settle by negotiation.

 

Yours faithfully,

 

Send this to Egg by Rec'd Del'y and send a copy to Freds or anyone else that contacts you about this matter.

 

If Egg say the matter is no longer their responsibility, you can proceed with your claim against them and they would be forced to refund the full amount to you directly without being able to set off what is due to them, to BC or to whatever DCA now owns the alleged debt.

 

[MrHat]

Thanks v much SLick. Should I give them a timeframe to respond? 7 days?

[slick132]

Yes and sorry I forgot to include this. Add a final paragraph:-

 

I require your considered response within 14 days.