Egg Loans PPI

Bear_Spender

Hello just a quick update, had letter through from Egg stating that the information requested will be with me by the 1st May Slightly over the 40 days? but Ill see whats in it before making any judgement? Maybe a cheque!! lol

di3004

Bear_Spender wrote: »

Hello just a quick update, had letter through from Egg stating that the information requested will be with me by the 1st May Slightly over the 40 days? but Ill see whats in it before making any judgement? Maybe a cheque!! lol

Hi Bear Spender

Well lets hope its that of good news with loadsa money.......:D;), fingers crossed it will be the news your waiting for.;)X

di3004

JOSOM wrote: »

I have just logged a complaint with Egg for PPI and have had a reply telling me they looking into it. Just wondered though, has anyone had success with Abbey for PPI mis-selling.
x:rotfl:

Hi JOSOM

How are you?:D

I believe there have been much success with Abbey, check on the Success thread when you have more time.;) Good luck with yours. X

Bear_Spender

Hello - Update to my PPI claim from Egg

As agreed the 1st of may they sent me most of the information as requested:

Ive been sent approximately 2-300 sheets of A4 with every piece of communication on them, along with my original signed forms, Egg Card statements and forms (though at this time not querying anything to do with my egg card) However Missing from this information is the statements relating to my egg loan showing payments made and PPI in each of those to make it easier to track. I correct my original post, I had more than 3 loans some were top ups some were new not all had PPI but most did, some PPI I cancelled after a couple of months.

However I have a number of questions? Missing statements? Something fishy there as I have requested all statements in my letter.

The terms and Agreements have the names of who the agreement is with blacked out in all of them?? SO you cannot read any names? How are these mine? they could be random generated ones made to look like they were mine?

Where do I go now with this lot of data? There is an absolute mountain. I feel like going straight back to them with a letter that I have already created (Di I think I showed you a few months ago?) or should I get the issue with the statements and agreements before proceeding down that route?

Plus check this: in one of the tele assisntants notes it says to another colleague, "hands off this is my sale and should be attributed to me not you, there are also a number of requests for name changes??!?!??!!! I have never requested name change? Reason states: Deedpoll!!!! Errm I have always been the same name?

Any assistane greatly appreciated

di3004

Bear_Spender wrote: »

Hello - Update to my PPI claim from Egg

As agreed the 1st of may they sent me most of the information as requested:

Ive been sent approximately 2-300 sheets of A4 with every piece of communication on them, along with my original signed forms, Egg Card statements and forms (though at this time not querying anything to do with my egg card) However Missing from this information is the statements relating to my egg loan showing payments made and PPI in each of those to make it easier to track. I correct my original post, I had more than 3 loans some were top ups some were new not all had PPI but most did, some PPI I cancelled after a couple of months.

However I have a number of questions? Missing statements? Something fishy there as I have requested all statements in my letter.

The terms and Agreements have the names of who the agreement is with blacked out in all of them?? SO you cannot read any names? How are these mine? they could be random generated ones made to look like they were mine?

Where do I go now with this lot of data? There is an absolute mountain. I feel like going straight back to them with a letter that I have already created (Di I think I showed you a few months ago?) or should I get the issue with the statements and agreements before proceeding down that route?

Plus check this: in one of the tele assisntants notes it says to another colleague, "hands off this is my sale and should be attributed to me not you, there are also a number of requests for name changes??!?!??!!! I have never requested name change? Reason states: Deedpoll!!!! Errm I have always been the same name?

Any assistane greatly appreciated

Hi hun

If you know for a fact more info should have been included, write back and ask them for an explanation of where the missing info is.
Give them 7 days to supply the missing info and an explanation if they are unable to send them on.
Tell them you will have to consider going to the Information Commissioners Office (ICO) if they do not comply to your request in full.
https://www.ico.gov.uk/Global/contact_us.aspx

I would also have a browse on the ICO thread, its quite useful.;)

If you decide to go to the ICO explain everything, good luck and please keep me posted.X

Bear_Spender

Hello All, Just to keep you updated, I have today received 2 Cheques totalling £2500 refunding all payments and interest that it should have been. What a fantastic result. I walked through the door and for the first time in ages I cried!! Seriously I did! What a feeling!! I have a question, should the interest be 8% for the total amount or 8% per year, the figure a court would award, or should it be 4% per year times the number of years the payments have been since?

DOnt get me wrong I am over the moon, but if there are short changing me??? It does say as they have fulfilled my complaint, my next step is the ombudsman service??!

A MASSIVE THANK YOU TO ALL WHO HAVE HELPED ME!!!

DI - A MASSIVE KISS TO YOU!!!! XXXX

di3004

Bear_Spender wrote: »

Hello All, Just to keep you updated, I have today received 2 Cheques totalling £2500 refunding all payments and interest that it should have been. What a fantastic result. I walked through the door and for the first time in ages I cried!! Seriously I did! What a feeling!! I have a question, should the interest be 8% for the total amount or 8% per year, the figure a court would award, or should it be 4% per year times the number of years the payments have been since?

DOnt get me wrong I am over the moon, but if there are short changing me??? It does say as they have fulfilled my complaint, my next step is the ombudsman service??!

A MASSIVE THANK YOU TO ALL WHO HAVE HELPED ME!!!

DI - A MASSIVE KISS TO YOU!!!! XXXX

Wow, well done to you........:T:T:T
So happy for you, Congratulations, a pleasing result here, fantastic news.:beer:
Your very welcome.:A

Di
XXXX

Bear_Spender

Evening All!

After the success of Egg admitting they had mis-sold me all PPI on the loans I had had, I did a bit of questioning and research before writing to Egg again. Can someone please clarify to me the following

1) How should the interest be calcualted on the figure of PPI that was applied to my account or on my account at the time it closed?
As I have written to them for a second time (had to send 2 letters as the first one didnt get there?!?!) asking them to explain and they wont. When I phoned them to ask how do they do it they said we just apply 7pct? I said the ombudsman look at it differently dont they? they said well thats how we calculate it?

2) If PPI had been left on my ac for the full term it had ran as the financial ombudsman state I would have been entitled to the following: "difference between settlement costs incurred when borrower ended loan early and those he would have incurred had he settled the loan without the additional PPI element"

However I cancelled the PPI before settling the Loans am I entitled to any of this??

3) Am I entitled to the interest that was applied to the PPI during the term the loan ran?

Thoughts please?

Im Considering the ombudsman, I have held on to the cheques they have sent me grudgingly as its the best part of £2.5K just wondering any experiences of similar?

DOnt want to bank them as that is classed as accpetance isnt it?

Thanks Bear

di3004

Bear_Spender wrote: »

Evening All!

After the success of Egg admitting they had mis-sold me all PPI on the loans I had had, I did a bit of questioning and research before writing to Egg again. Can someone please clarify to me the following

1) How should the interest be calcualted on the figure of PPI that was applied to my account or on my account at the time it closed?
As I have written to them for a second time (had to send 2 letters as the first one didnt get there?!?!) asking them to explain and they wont. When I phoned them to ask how do they do it they said we just apply 7pct? I said the ombudsman look at it differently dont they? they said well thats how we calculate it?

2) If PPI had been left on my ac for the full term it had ran as the financial ombudsman state I would have been entitled to the following: "difference between settlement costs incurred when borrower ended loan early and those he would have incurred had he settled the loan without the additional PPI element"

However I cancelled the PPI before settling the Loans am I entitled to any of this??

3) Am I entitled to the interest that was applied to the PPI during the term the loan ran?

Thoughts please?

Im Considering the ombudsman, I have held on to the cheques they have sent me grudgingly as its the best part of £2.5K just wondering any experiences of similar?

DOnt want to bank them as that is classed as accpetance isnt it?

Thanks Bear

Hi Bear,

Of course if your not happy with this you can go to the FOS about this, hopefully someone in the know of how all this works will post up for in more details of this matter.

To what I am aware of, is the answer is yes, you should be entitled to the interest applied to your account to what you have paid in your loan term.

Have you had the chance to read though our Maxdp's thread she posted in how the FOS calculated refunds as well here:
http://forums.moneysavingexpert.com/showthread.html?t=1596473

I will come back and take another look later as well.;)

Bear_Spender

UPDATE UPDATE UPDATE

Been going on a while


I sent it to the Financial Ombudsman and then said yes do have a claim sent what I thought was a great letter, that was coming up to 2 months ago, spoke to FOS and they said they are chasing egg again and are hoping to write back to me within the next 2-3 weeks. It is definately worth not accepting the first or 2nd offer from the PPI's fraudsters!!!