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  • FIRST POST
    FiRed
    Egg old loan - refusing to give me information
    • #1
    • 11th Nov 11, 2:18 PM
    Egg old loan - refusing to give me information 11th Nov 11 at 2:18 PM
    Hello,

    I am looking for a bit of advice whilst trying to reclaim money from Egg Loans. I had 4 loans in total from Egg from 8th August 2002 to 23rd Sept 2005 - each time topping it up and each time paying for PPI without realising I had the option to not pay it (until the last loan where I questioned it and didn't pay it). I paid off the loans completely in Oct 2009.

    I remember asking Egg for the PPI back sometime ago when I got some back from a HSBC PPI claim, and got a flat 'No' from them. I thought I might try again as I never pursued it further. Unfortunately I don't have the original paperwork, and also don't have the letter I originally sent and my laptop broke a few years ago. I do have the account numbers and the amounts the loans were for and recently wrote to Egg asking for the credit agreement, T&C's and/or a fukl breakdown of payments made.

    They have written back for each loan account with the same letter stating that 'The right to be provided with this information from Egg Banking plc ended with the closure of the account' and that they 'have no obligation to comply with a request for a copy of the executed agreement under the Consumer Credit Act as we no longer have a contractual relationship relating to this account, nor are we seeking to enforce any agreement on this account'.

    I am not sure how to respond, or how to gain the information I need to make the PPI claim? Any ideas/help would be very welcome.

    Thanks
    Fi
Page 1
  • The_Logans
    • #2
    • 11th Nov 11, 2:24 PM
    • #2
    • 11th Nov 11, 2:24 PM
    Write back to them making a data access request. Stolen from the bank charges reclaiming guide...

    Demand your past charges under the Data Protection Act

    If the above doesn’t give you what you want, you’ve a legal right to demand the information under the Data Protection Act, though banks are legally allowed to charge up to £10 for it (and banks being banks, they usually charge the full amount)
    To speed the process up you could insert a cheque for £10 as part of your initial request as banks may stall the process by later writing to ask for the money. Of course the counter is that it may send you the information without charge if you don’t include the tenner.
    Yet there’s one crucial fact here…
    Never ask for statements, specifically request a list of transactions
    If you do ask for statements you may be charged £10 a time, and over six years that’s £720, yet asking for a list of transactions should be fine.

    Banks only have 40 days to respond, regardless of any excuse. The result of the test case does not have a jot to do with this, it’s a different law, no matter what they say. If you get one, follow up with a phone call and then report it to the Information Commissioner for a breach.

    They are obliged to provide you this information, but you should enclose the statutory maximum fee of £10.

    There is a template on there too. http://www.moneysavingexpert.com/redir/d27233e0

    I think that, in their response to this request you'll find all the information you need to progress the claim. I've just done the same with Santander having had the same response. Good luck!
    Last edited by The_Logans; 11-11-2011 at 2:27 PM.
    Successes: Egg cc PPI £55, Halifax cc PPI £1705,
    Halifax MEF £140, Halifax loan PPI £250,
    Tesco loan PPI £1984, NRAM loan PPI £202, Halifax TMPP MRC £609
  • FiRed
    • #3
    • 11th Nov 11, 5:06 PM
    • #3
    • 11th Nov 11, 5:06 PM
    Hi,

    Thanks very much, I'll give it a try - fingers crossed!

    Fi
    • magpiecottage
    • By magpiecottage 11th Nov 11, 6:04 PM
    • 8,859 Posts
    • 5,357 Thanks
    magpiecottage
    • #4
    • 11th Nov 11, 6:04 PM
    • #4
    • 11th Nov 11, 6:04 PM
    You do not need this information to make a complaint. If they have it they will be able to investigate anyway. If they no longer hold it then you will not be able to prove your case.
    It is a statement of fact, not an advertisement, that I investigate complaints against small firms of financial advisers for a living.

    That is why I know my way around both the FCA Handbook (for financial businesses) and the Conduct of Authorised Persons Rules (for CMCs).
  • FiRed
    • #5
    • 16th Dec 11, 10:05 AM
    • #5
    • 16th Dec 11, 10:05 AM
    Hello,

    I did what the The Logans suggested - and got the same letters back form Egg!

    A letter for each loan account stating that 'The right to be provided with this information from Egg Banking plc ended with the closure of the account' and that they 'have no obligation to comply with a request for a copy of the executed agreement under the Consumer Credit Act as we no longer have a contractual relationship relating to this account, nor are we seeking to enforce any agreement on this account'.

    But they cash my £10 cheque!!!

    Not sure what to do, should I send this to the financial ombudsman?
    Any help would be welcome!

    Thanks Fi
    • dunstonh
    • By dunstonh 16th Dec 11, 10:17 AM
    • 82,242 Posts
    • 47,354 Thanks
    dunstonh
    • #6
    • 16th Dec 11, 10:17 AM
    • #6
    • 16th Dec 11, 10:17 AM
    If you are quoting the consumer credit act then they are correct. That only applies to debts that are still in force. So, rejecting your request is correct.

    You need to tell them that it is a data subject access request.

    Not sure what to do, should I send this to the financial ombudsman?
    The financial ombudsman service will not help you. The are used when you are deadlocked in your complaint. You havent made a complaint yet.

    Either you make your complaint or submit a DSAR using the right langauge so they can identify what you want clearly. You dont need the information you are attempting to get to make a complaint. So, its largely a pointless £10 to spend.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • FiRed
    • #7
    • 16th Dec 11, 10:59 AM
    • #7
    • 16th Dec 11, 10:59 AM
    Thanks for the info - surely its not right for them to have taken my £10 and still not given me what I asked for, can I get it back?

    Also - how do I go about making the claim for repayment of PPI for the loans if I don't know how much it equates to?
    I don't know what a DSAR is I'm afraid - any help would be appeciated.

    Fi
    • dunstonh
    • By dunstonh 16th Dec 11, 11:08 AM
    • 82,242 Posts
    • 47,354 Thanks
    dunstonh
    • #8
    • 16th Dec 11, 11:08 AM
    • #8
    • 16th Dec 11, 11:08 AM
    They shouldnt have taken the £10. Although, if their response was that they no longer hold any information on you, then took the £10 then that is fair enough.

    Also - how do I go about making the claim for repayment of PPI for the loans if I don't know how much it equates to?
    You dont need to know how much. The amount has no impact on your complaint.

    I don't know what a DSAR is I'm afraid - any help would be appeciated.
    It is what the £10 relates to - a Data Subject Access Request.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • pricecelt
    • #9
    • 20th Dec 11, 7:36 PM
    • #9
    • 20th Dec 11, 7:36 PM
    they did the same with me took the cash sent no info i called them kicked off and had all my data within two weeks
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