egg ppi refund plese help

dubai20

Hi I have reclaimed and won my mis sold PPi from Egg.
For £1447.33
They are saying that have to put refund it to my egg account because I still have a oustanding balance.
I would like it to be credited into my Bank Account but thay have refused. Saying that the Financial Ombudsman insists on it being credited to an outstanding account if there is still a debt there.
Is this correct?
Thanks

di3004

dubai20 wrote: »

Hi I have reclaimed and won my mis sold PPi from Egg.
For £1447.33
They are saying that have to put refund it to my egg account because I still have a oustanding balance.
I would like it to be credited into my Bank Account but thay have refused. Saying that the Financial Ombudsman insists on it being credited to an outstanding account if there is still a debt there.
Is this correct?
Thanks

Hi there hun

First of all Well done to you.:beer: :T :beer: .

Now to what I know of if there are no arrears owing, for example you have not fallen behind with your repayments, you should have that choice of having this paid directly to you.

I would definately get more advise on this matter, ring the FOS and see what they say about this, if EGG states the FOS insists on this, I would ring them to make sure.
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck.;)

poddle911

Hi Dubai
Well done on claiming back the PPI! I'm sorry I can't help, but was wondering how you did it - did you use the sample letters here? I have an Egg loan and wasn't until today when I tried to take a payment break that I'm paying insurance of about £1,200! What was your situation?
Thanks!

di3004

poddle911 wrote: »

Hi Dubai
Well done on claiming back the PPI! I'm sorry I can't help, but was wondering how you did it - did you use the sample letters here? I have an Egg loan and wasn't until today when I tried to take a payment break that I'm paying insurance of about £1,200! What was your situation?
Thanks!

Hi there hun

Have you started the case at all yet with this hunni?

The main of them do use the letter template on here and obviously just add their own reasons of why they believe they were mis sold the PPI.

That is a lot of money.
If you feel you also have a case, give it a go on reclaiming, obviously if you think its worthless to you as well.

I would say though, its best to make sure you have protection to cover you in case, but you can go for a stand alone cheaper option to help.
Above the page there is a red box which states "insurance" its useful to check for cheap insurance, and I expect you will be surprised, just make sure though it covers for all your requirements. However here is the link here to help to cover for both loans and cards etc:
http://www.moneysavingexpert.com/insurance/cheap-loan-insurance

Okay now back to the reclaiming of this lol, check this link out here for further information on PPI mis selling which may occur to you:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You will find letter templates and they have 8 weeks to respond in full, keep on at them until you receive the final response, in the final letter they should enclose details of how to take this further, such as with the Financial ombudsman service (FOS), details of their complaints procedures.

Post all letters by recorded delivery.;)

Give us a yell hun if you require any help, good luck.

Di
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Cashpig74

PLEASE NOTE:

ppi refunds can only be given in cash unless the borrower agrees that it can be used to reduce a balance or arrears. HALFX told me in a letter that they will use it reduce my arrears, but I phoned them and told them no. They then sent me a cheque.

I have it on good authority (a law firm) that PPI cannot be force used to pay off arrears/balances unless you agree. They can offer it, but not force it.

Also point out, that you have other priroty debts and YOU cannot be seen to be making large payments toward unsecured lending in favour or other mortgage arrears etc.... Anyway, they can't do it period but all the amo helps.

Banks and CC charges are differnt.

poddle911

Thanks Di, that's really helpful (sorry for hijacking your thread, Dubai!)

I haven't started yet, but I'm prepared to go in all guns blazing! I've just dug out the paperwork and sure enough it's all there (in teeny tiny writing). I took the loan out just after uni when I was desperate to pay off expensive credit cards and overdraft and I'm pretty sure that they implied that the PPI was part of the package. I've read through Martin's guide, but I wasn't sure how to use the first template letter as I already have the paperwork. Can I just say I'm writing to reclaim? Or as I have the paperwork will it negate my case?

Sorry, loads of questions! I'm fuming! I can't believe I've been paying for PPI all this time when I've been aware of how evil it is, lol. It's costing £1,498.32 in including interest which will pretty much pay off outstanding balance of loan.

Any help gratefully received! Thanks:cool:

di3004

poddle911 wrote: »

Thanks Di, that's really helpful (sorry for hijacking your thread, Dubai!)

I haven't started yet, but I'm prepared to go in all guns blazing! I've just dug out the paperwork and sure enough it's all there (in teeny tiny writing). I took the loan out just after uni when I was desperate to pay off expensive credit cards and overdraft and I'm pretty sure that they implied that the PPI was part of the package. I've read through Martin's guide, but I wasn't sure how to use the first template letter as I already have the paperwork. Can I just say I'm writing to reclaim? Or as I have the paperwork will it negate my case?

Sorry, loads of questions! I'm fuming! I can't believe I've been paying for PPI all this time when I've been aware of how evil it is, lol. It's costing £1,498.32 in including interest which will pretty much pay off outstanding balance of loan.

Any help gratefully received! Thanks:cool:

Hiya hun

Not a problem.

That is fine if you have the paperwork, it should help.

You do have a case here then being told its all part of the package.

Go for it hun.

When you check on the link I added about reclaiming there are template letters in stages, for example stage 1, stage 2 etc, use the info in the link as well to help you.

But yes its quite an amount, you do not have to put any amount in the reclaiming letter.

You can cancel this by writing to them as well, although I am not to sure with this company to cancel the PPI a new loan may have to be taken without the PPI, hopefully someone will confirm this to you who have had dealings with this company, they all vary.

Then write a complaint letter to reclaim this back as well, if successful they should refund you all the ppi you have paid plus interest etc.;)

Does this help hun?

I wish you luck and remember keep going with them, and also check out the success thread at the top as well, where they should be some success within this company.;)

Di
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sillyme

This is interesting. I'm in the same boat with Egg. My - still current - loan agreement states a PPI amount of £2100!!!!!! I was so shocked when I checked.

I've sent them the template letter 1 and they still have about 4 weeks to reply.

I absolutely need the money in a cheque and not put into my loan as I have a much, much higher interest debt that I need to pay off ASAP.

Are we absolutely sure they can't force payment into your current balance? Who can I confirm this with?

Fingers crossed.

poddle911

di3004 wrote: »

Does this help hun?

I wish you luck and remember keep going with them, and also check out the success thread at the top as well, where they should be some success within this company.;)

Di
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Yep, super helpful, thanks! I've just been having a look at the success thread and it's very inspirational. I'm off to write my first letter!

di3004

sillyme wrote: »

This is interesting. I'm in the same boat with Egg. My - still current - loan agreement states a PPI amount of £2100!!!!!! I was so shocked when I checked.

I've sent them the template letter 1 and they still have about 4 weeks to reply.

I absolutely need the money in a cheque and not put into my loan as I have a much, much higher interest debt that I need to pay off ASAP.

Are we absolutely sure they can't force payment into your current balance? Who can I confirm this with?

Fingers crossed.

Its the countdown for you now then hun?;)

I wish you luck and keep us posted, hope its a good outcome.:A

Di
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di3004

poddle911 wrote: »

Yep, super helpful, thanks! I've just been having a look at the success thread and it's very inspirational. I'm off to write my first letter!

Your very welcome hunni, give us a yell anytime if you need any more help/info, fingers crossed, keep us posted.:A

Di
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