Arc Europe representing Arrow global for EGG - help please

[lilly white]

Is there a total charge for credit

 

lilly

[hitchy1]

Think youll find thats "document" and the prescribed terms are on page 1. They just would have to show page1 links to page2 in some way.

 

Anyhow if we want to pick holes with the "agreement" then I would say 1) the Title of the agreement is wrong, it should be under "Fixed Sum Loan Agreement regulated by the Consumer Credit Act 1974" not "credit agreement regulated by the Consumer Credit Act 1974" Also there appears to be no notice that this agreement is uncancellable so where is the right to cancel box.

 

And basically its a mess, although the prescribed terms appear to be there theyre not setup in the proper format as described in the Consumer Credit (Agreements) Regulations 1983

 

S.

 

Are you saying that the agreement is unenforceable, or is it a case that there is enough in the format to cover them?

I guess if i go to account in dispute i would have to clearly describe the reasons why, and i am still unsure what they are.

 

Is there a total charge for credit

 

lilly

 

Cant see anywhere total charge for credit, just monthly payment and APR and total loan.

Also some of the small print refers to T and C's but there are no t and c's attached.

Additionally there is no mention of cancellation rights.

[the_shadow]

For a fixed sum (Loan) credit agreement the following are the prescribed terms:-

 

A Amount of credit

A term stating the amount of credit

 

B Repayments

A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following-

(a) Number of repayments;

(b) Amount of repayments;

© Frequency and timing of repayments;

(d) Dates of repayments;

(e) The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

 

As per 42Mans enforceable agreements thread here

 

I would read around some of the other EGG loan agreements section to see what has been suggested.

 

S.

[the_shadow]

Are you saying that the agreement is unenforceable, or is it a case that there is enough in the format to cover them?

I guess if i go to account in dispute i would have to clearly describe the reasons why, and i am still unsure what they are.

 

the items I've listed may be important but there not the prescribed terms, I think you need to look at similar agreements by other people with egg loans and see what has happened and how they recommend to proceed.

 

Follow this link to the EGG section ->> HERE I'm sure there will be others with the same loan documentation as you and probably further down the line so you can see what has happened if they put the account into dispute.

 

Oh and as crapstones comment suggests the dates on signatures? I assume document was drawn up with their signature already on it for you to counter-sign?

 

S.

[hitchy1]

Just received agreement from Capquest on an Egg loan from 2002.

 

Can someone advise on legality of this, i am confused as to different regulations depending on the year. No T and C's included, my signature later than theirs. Not quite sure what should be included.

 

Will post docs when i work out how to remove personal details

[cds]

photo-copy and marker pens work for me

 

cds:-)

[hitchy1]

I recently cca'd capquest and got a copy of my agreement back with a letter asking how i intend to pay.

 

I have actually been paying them on a debt management plan.

 

Dont think they like the fact that i cca'd them and they have now added interest which is more than my last 12 months payments.

 

Be grateful for any advice on how to deal with this.

[steven4064]

Firstly, the agreement seems to be enforceable.

 

You should write and remind tham that you are on a DMP and ask them to remove the interest they have added. THey probably won't but you need to ask

[hitchy1]

I currently have a debt management program with the CCCS which i pay regularly and do not miss.

 

Seems like ARC have purchased one of the debts from EGG and have sent me the following letter.

 

Any advice on how to respond would be welcome.

[Deb T]

The next thing you'll get is a letter from Trevor Munn threatening the legal action ARC make mention of, ARC and Trevor Munter are one and the same but both tend to be toothless.

 

In my experience I would write to egg direct informing them of ARC's somewhat dodgy tactics ( particularly if you're using the CCCS) and

see what next transpires.

 

There is plenty about Egg in the egg forum found here

 

Egg - The Consumer Forums

 

At the same time as this I would send ARC a cca request...egg generally tend to produce them but as to their enforceabilty..well that remains to be seen as I believe there is a case currently pending with egg that may set a precedent...see the egg forum.

[Revenant]

Just a quick bit of info

It's against OFT Guidelines to request a payment by Credit Card

They should not encourage you to take out another debt to pay theirs

[PGH7447]

I would just pass it to CCCS let them deal with it

[ChrisD36]

Just a quick bit of info

 

It's against OFT Guidelines to request a payment by Credit Card

 

They should not encourage you to take out another debt to pay theirs

 

I never knew that!!

 

Every letter I or my wife receives generally has a list of credit cards which you can pay by..

 

Thanks for the tip - something I will remember when the next letter comes through..

[PGH7447]

by asking to pay by credit card they are encouraging you to get into debt to pay them, that is a big no no

[Revenant]

Hi Chris

 

FYI

 

OFT Guidelines

 

Physical/Pyscological Harassment

 

2.5 Putting pressure on debtors or third parties is considered to be oppressive

 

2.6 Examples of unfair trading are as follows

 

b/ Pressurising debtors to sell property, to raise funds by further borrowing or to extend their borrowing

 

Hope that helps in the future but please don't forget that Debit Cards often have the same logos as Credit Cards so make sure the letter you receive actually mentions payment by credit card as the one in this post does

Edited November 3, 2009 by Revenant
Can't spell

[hitchy1]

Thanks everyone for the responses. They have started leaving messages on my phone telling me it is most urgent that i call them. Think i will just pass to CCCS and ignore them.

Strictly speaking does buying a debt suddenly give them the right to chase for it? I dont have any contract with them, wont i create one if i start paying?

[berrylover]

Have you had a notice of assignment from Egg. If ARC has bought the debt then Egg should have sent you one. But I bet they haven't. They have about as much power as I have in demanding money from you.

[the_shadow]

I dont think think this debt HAS been sold, it states in the letter "has been passed to us for collection".

 

This would seem to indicate EGG are just applying pressure through ARC to up the payments.

 

...and if the debt hasnt been sold then only EGG or ARC+EGG can take you to court, not ARC on their own.

 

S.

[hitchy1]

Have you had a notice of assignment from Egg. If ARC has bought the debt then Egg should have sent you one. But I bet they haven't. They have about as much power as I have in demanding money from you.

 

No notice of assignment received, think as Shadow says it might just be an attempt to gain more money.

[gazab41]

Hi just to make you guys aware about ARC they seem to be doing things in thier own way not even following oft dca code or credit assosiation codes my own debt is an interesting example gaz v egg is a casing point.

 

1 had letter from ARC demanding payment

2 letter from trevor Munn

3 another letter from trevor munn saying procedings are being prepered

4 sent CCA request with £1.00 PO

5 this returned day after recived with letter refusing to pass this on to egg and I had to send a cheque guess i know why lifted signiture and debt will continue.... any thourghts folks

[PGH7447]

send them the failure to supply or pass on a cca request found in the library

[hessey50]

I have a similar dance with T Munn ARC over egg cards you get a letter from supposedly munn send a rebuttal to him get a letter back from arc get a letter from munn and so on AEC clearly state theyare collecting on behalf of EGG and have not bought the debt, My view is since munn and ARC claim to be different but both are offering payment terms this contitutes being chased for the same debt by two agencies at the same time contrary to oft guidlines Munn wont reply even to resquest askijng if he will accept service .

[hitchy1]

I have received a letter from Arc which says it is following up on information i have received recently.

 

I have received no other letters so this is the only information.

 

They claim to represent Arrow Global for a loan which was originally with EGG back in 2003.

 

I did have an EGG loan which was part of a DMP with my ex wife and

 

my last recollection of any payment was in June 2013.

 

Im assuming Arrow have passed to Arc for collection and they have traced my new address.

 

They inform me that i am legally responsible.

 

Can someone advise how i should deal with this please?

 

 

By the way the debt is said to be around £5k which is more than i borrowed in 2003.

[dx100uk]

send them a CCA REQUEST

 

 

dx

[dx100uk]

numerous old threads merged for history.

 

 

is this debt on your credit file?

 

 

dx