Egg loan sold to Britannica Recoveries SARL

rikmartin · 24 June 2011 at 9:30AM

Hi,

Just had a letter today about my Egg Loan being sold to this company. (Moorgate Loan Servicing Ltd)

They say it changes nothing with my agreement. Is this true?

Common_Sense_2 · 24 June 2011 at 9:35AM

yes, the terms and conditions of your loan remain the same, it's just that they now own the debt

ASL · 24 June 2011 at 10:22AM

Just had a letter from Egg, they are threatening me with Britannica recoveries. For a old loan that was included in bankruptcy in 2008, and was discharged in 2009. Egg in my opinion are breaking the law.

Misty_Blue · 24 June 2011 at 10:39AM

I've just opened this same letter. I've had this loan for four years and have never missed a payment. There are only 9 payments left until its cleared. :huh:

KingElvis · 24 June 2011 at 10:40AM

Hasn't Egg just been sold? maybe the buyer is getting shot of the stuff they don't like?

Misty_Blue · 24 June 2011 at 10:47AM

I've spoken to someone at Egg and it is that all the Egg loans have been sold. They said they were getting a lot of enquiries from people alarmed at the name of the new company - Britannica Recoveries - but its nothing to do with the status of the loan.

KingElvis · 24 June 2011 at 10:49AM

Misty_Blue wrote: »

I've spoken to someone at Egg and it is that all the Egg loans have been sold. They said they were getting a lot of enquiries from people alarmed at the name of the new company - Britannica Recoveries - but its nothing to do with the status of the loan.

Doesn't sound very appealing does it?

Misty_Blue · 24 June 2011 at 10:52AM

KingElvis wrote: »

Doesn't sound very appealing does it?

Not at all. My biggest worry is that it will appear like that on the credit rating I'm desperately trying to rebuild, and will look bad to other lenders. :eek:

KingElvis · 24 June 2011 at 10:55AM

Makes you wonder who made such a stupid decision at the corporate level, it beggers belief.

I for one wouldn't want that name on my credit history, even if it is benign

keepsmiling32 · 24 June 2011 at 2:15PM

Saw this on a telegraph news website earlier, thought it might help:

"Citigroup has now also completed a deal to sell the loans side of Egg's business to a company called Britannica Recoveries SARL, based in Luxembourg."

EssexHebridean · 24 June 2011 at 2:25PM

So, first the credit card business, now the loans? What do Egg actually have left? (Not my ISA, that's for sure, rate of interest was so low I've ported it out!)

Egg loan sold to Britannica Recoveries SARL

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