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Egg Loan single premium PPI complaint upheld...


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Hi i'm new here but i have used the advice on this website to submit a ppi claim against egg for three loans (two of them top ups). The PPI was a single premium policy added to the start of the first two loans.

 

Happily they have upheld my complaint :-D and sent through a final offer BUT i'm not sure if what they have offered me is the correct amount it seems a bit low? I'm not very good with the figures and my maths has never been any good :sad: would anybody on this forum be able to double check my figures for me please? I've got the full breakdown so can provide any info needed if anybody can help me?

 

Thanks for any help in advance

 

Atty

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Hi

 

Have a read of No.1 in my signature and use the spreadsheet at the end to work out your claim amount.

 

Rollover PPI is explained in that thread.

 

If you still have trouble after reading it and having a go, come back here and we'lll help you

 

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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Hi IMS,

 

Thanks very much for your response, i've looked at the information you provided and the spreadsheet but i still can't get my figures to match the offer they have awarded. They are saying that PPI wasn't carried over from the first loan to the second loan but i'm not sure how to check this wasn't the case, it looks to me as if it was but i can't get the figures to add up. If i post the loan info (taking out the account info) would you be able to double check the figures for me please, i don't trust my workings out!? :-)

 

Thanks again

 

Atty

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Hi

 

Yep....post up what you've got (MINUS ALL PERSONAL INFORMATION) and I'll take a look. Might have some questions though.

 

Dx100 – Instructions on uploading pdfs

 

scan the required letters/agreements/sheets

as a picture file

remove all pers info inc barcodes etc using paint

but leave all figures and dates.

goto one of the many free online pdf converter websites

convert the image to pdf format.

or ir you have PDF as an installed printer drive use that

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

NB:you can set where it goes in the post by hitting insert inline.

the hit reply button

 

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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Hi ims21,

 

Sorry for the delay I was being a bit of a idiot converting the files to PDF, fingers crossed these attachments work!

 

Here are the attached three PDF files

1. Egg Loan PPI Breakdown - Info provided by egg

2. Complaint Upheld Letter

3. Breakdown of Offer - I requested a more detailed breakdown of the offer and this is what they sent

 

Hopefully I've included everything you need, if not let me know of any questions

 

Thanks again for your help the numbers have made me go crossed eyed :-)

 

Atty

Egg loan & PPI breakdown.pdf

Breakdown of offer.pdf

Complaint Upheld Offer Letter.pdf

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Hi

 

Ok thanks

 

I'll grab a look later tonight

 

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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Hi

 

OK had a look and at the moment I have differences in the figures.

 

For example you said that you paid 11 payments on loan 1. Loan taken 23/1/03 and redeemed 11/11/03. There's not enough time to have made 11 monthly payments

 

Have you got the statements for these loans by any chance?

 

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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Hi ims21,

 

Sorry my mistake i haven't got the statements but i have gone back to egg to confirm the payment amounts and the number of payments, as soon as they get back to me i will send an update

 

Thanks again for your help

 

Atty

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OK

 

Thanks

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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Hi ims21,

 

sorry for the delay, I've had confirmation on the payments:

 

Loan 1

1st payment made 02 Feb 2003 £218.47 then a further 9 monthly payments of the same amount upto and including 2nd Nov 2003 (Loan 2 start date 11 Nov 2003)

Loan 2

1st payment made 02 Dec 2003 £316.70 then a further 11 monthly payments of the same amount upto and including 2nd Nov 2004 (Loan 3 start date 26 Nov 2004)

Loan 3

1st payment made 02 Dec 2004 £329.69 which increased to £337 from 02 May 2006 following a three month payment break.

I increased the payments to £500 from 02 April 2007 and the final payment of £373.22 was made on 07 July 2008 which settled the loan.

 

Hope this makes sense, let me know if there is any more info you need

 

Thanks again

 

Atty

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Hi Atty

 

I'll have another look either later tonight or tomorrow

 

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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Hi

 

Ok..I've been through this and I get a figure of £2,783.18 as being due which is £283 more than Egg are offering. Although my figure is within about 10% of theirs, the detail of how the figure is made up is different.

 

The reasons are probably to do with a few factors. The first is that the payments are noted as being pretty much on the second day of the month right the way through. This is unlikely since there would have been days when the 2nd of the month would fall on a weekend or a bank holiday and so the payment dates would not have been uniform all the way through.

 

Also there would have been a difference between their figures and mine in respect of the payment variations on loan 3 and how they dealt with the rollover.

 

Finally we don't know what date they have made the offer up to...I have assumed 21 March which was the first day you posted.

 

the way I have worked the figures is as follows and you will need the two spreadsheets at the end of this post

 

Loan 1 ppi was 16.37% of the total loan (1566.60 / 9566.60 x 100) so of each payment 16.37% of it was for ppi i.e. £35.76. In the StatIntSheet enter the 11 payments of £35.76.

 

Use the loan analysys sheet to see what happened at settlement. Enter the loan details in the top section (9566.60, 54 for the term and £218.47 for the repayment). Read down and find the balance of the loan at month 11 and you will see that it is £7934.03. £16.37% of this is PPI i.e.£1,298.80 and Egg say they rebated £1,044.40 so there was still £254.40 remaining which is the amount of ppi carried into loan 2.

 

Loan 2 PPI was £1,975.45. This is 14.85% of loan 2 and the £254.40 is 1.91% of loan 2 i.e. a total of 16.76%. Of each payment you made, 16.76% of it was for ppi which is £53.07. Enter the twelve payments of

£53.07 into the StatIntSheet underneath the entries you have already made.

 

Use the loan analysis sheet to work out the rollover for loan 2. Enter the details of the loan in the top section as you did with loan 1. Look down at the balance after 12 payments...you wil see it is £10,298.24. 16.76% of this is PPI i.e. £1,726. Egg say they rebated £1,058.28 so there is a difference of £667.72 which is rolled into loan 3.

 

£667.62 is 4.92% of loan 3 so 4.92% of each payment is for ppi. List 4.92% of each payment you made on loan 3 under the entries you have already made in StatIntSheet.

 

Change the "Claim To" date at the top of the sheet to 21st March and you should get the same figure as me.

 

As I say, we are close based on the information we have been given.

 

To get more accuracy we would need the statements of account showing the actual dates of payments and make an adjustment for the payment holiday and accelerated payments in loan 3 and see what the actual settlement balances were on the loans before Egg applied the rebates.

 

ims

 

StatIntSheet v101.xls

 

LoanAnalysis.xls

  • Confused 1

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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Hi ims21

 

Thanks ever so much for you help with the calculations this makes sense to me - if i'm successful with any other ppi claims I have in the pipeline i'm confident I'll be able to check the offers myself using the spreadsheets you've provided:-D

 

I'm happy to accept this claim now I'm just waiting for the cheque to arrive in the post now!

 

Big thanks to you and all the other forum posts that have pointed me in the right direction to claim this money back:whoo:

Atty

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