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Egg Loan details correct?


Master Chief
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Hi All,

 

 I have discovered a issue with an Egg loan that I've been paying off since forever and I think they have stuffed me on the starting balance.

 

Getting to the point of my post, I took an Egg loan for £4000 in February 2001, paid it for 7 months before becoming unemployed and defaulting on the loan.

Much happened at this time and I ended up moving a lot as well as being technically homeless.

 

I finally got settled and entered into an IVA with Eversheds for £5.00 per month in June 2005 and have since been making payments.

 

My issue is that having paid over £2,900 the balance is still in the region of £3,147.86!

 

I DSAR'd Egg back in 2011 and have the information in the attached PDF.

According, to their own information they defaulted me 29/04/02 when the balance was £3,697.39 and marked non-acrr.

The balance remained the same, or at least no changes shown until 20/11/02 when a £60 "Waive Fee" and £226.04 "Bad Debt Charge Off" fee increasing the balance to £3,983.43

 

Next change is when the loan account is sold to Arrow and the balance becomes £4,859.43!

 

Opinions and advice very welcome!

 

 

 

EggLoan.pdf

The villany you teach me, I will execute, and it shall go hard but I will better the instruction.

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thread retitled and moved to the EGG forum

  • Like 1

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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  • dx100uk changed the title to Egg Loan details correct?

Accounts currently being merged to Master Chief 

 

The balance owing is  £3,697.39  less £2,900 payments.......no such terms as a £60 "Waive Fee" and £226.04 "Bad Debt Charge Off" and a DCA cant add a penny.

  • Like 1

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Hi

 

Have you received any monthly statements for this account?

 

Dont worry its very unlikely they would be able to enforce anything.

 

I mean any more statements, they cant charge any more interest if they have not. CCA 77a?

 

What happened to the IVA? Are you now on a DMP

  • Like 1

DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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Send them a cca request.

Dx

  • Like 1

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... 

Link to post
Share on other sites

@Peterbard

 

There are some statements I'm sure, what's the relevance?

 

I say an IVA, I just agreed to pay them £5 per month to start which has increased along the way. All can be seen in the linked PDF posted earlier.

 

Hi @dx100uk, I thought the CCA was page 1 & 2 in the linked doc, provided to me by Egg as part of the DSAR.

 

May I ask why a CCA request is the way forward to challenge the balance?

 

thanks.

The villany you teach me, I will execute, and it shall go hard but I will better the instruction.

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if arrows don't have an enforceable agreement..

keep what egg provided years ago to yourself

 

thread tidied

 

as andyorch says..your balance is about £700 if that's even true

 

 

  • Like 1

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... 

Link to post
Share on other sites

If it was an IVA it would have effected your property. Easy to get in not so to get out, whereas an agreed arrangement you can just walk away

 

Yes it seems to be. These were challenged in  appeals some years ago, because the term for Total Credit read "Limit" or some other . There were also other prescribed term issues, sadly it failed, and I dont think they have been challenged since.

  • Like 1

DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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  • 1 year later...

Thank you.

 

I requested the CCA and promptly received a reply, stating that they no longer charge for CCA requests and included my £1 postal order.

 

My original request was sent 25/11/21 as yet no CCA or further response.

 

What now?

 

The villany you teach me, I will execute, and it shall go hard but I will better the instruction.

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Nowhere.....you requested it they have been unable to comply.....they are therefore in default of your request and legally unable to enforce the agreement in a court of law.

 

Andy

  • Like 1

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

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Ignore them now totally until or unless they send a letter of claim with a reply pack

  • Like 1

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... 

Link to post
Share on other sites

Thanks fo rthe relpy @dx100ukBut I still have a standing order, which has been paid from inception of our arrangement. Are you saying that I should cancel this and stop paying?

 

My thoughts were more along the lines of complaining to the FOS about the ilegal charges.

 

What's my end game by ceasing payments?

 

 

The villany you teach me, I will execute, and it shall go hard but I will better the instruction.

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What!! 

 

you should have stopped paying the moment arrows failed the cca time limit...18 mts ago+ do you not self help and read up here rather than being a dca cash cow?

 

Dx

  • Like 1

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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Share on other sites

@dx100ukSorry, it's been a long time since I have trawled this forum and I clearly need a refresher. They are actually only 4+ weeks overdue with the CCA, I didn't send it until Nov this year, but obviously they are still in default.

 

 

I kind of thought, remebering old threads on here that the whole challenging CCA's in court was dead, due to judgements being made more on balance - does the debtor actually owe it? Rather than missing/incorrect terms.

 

I'm not trying to avoid anything, just ensue that the balance owed is correct. As it stands, they are asking for double bouble and no way am I paying that. The balance corrected will mean the finish is in sight and manageable.

 

If the route that you are all suggesting is a way to achieve that then I'm game.

 

Thanks to all that have comented and helped so far.

 

Edited by Master Chief

The villany you teach me, I will execute, and it shall go hard but I will better the instruction.

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simply cease payment until/unless they comply or send a letter of claim.

 

stop being a dca cash cow.

 

they seriously have zero legal powers... 

  • Like 1

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... 

Link to post
Share on other sites

ignore everything until or unless they reply to your CCA request or you get a letter of claim.

 

well done on eventually realising your were being cash cowed by a powerless DCA...

  • Like 1

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... 

Link to post
Share on other sites

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