Egg Loan - Any chance in reclaiming

Nickij

My brother in law took out an egg loan around 5 years ago for about £15K which he is still repaying. His repayment include PPI of about £4k.

He can't remember whether he took the online out online or by the phone now.

Has anyone else managed to reclaim loan PPI from Egg?

di3004

Nickij wrote: »

My brother in law took out an egg loan around 5 years ago for about £15K which he is still repaying. His repayment include PPI of about £4k.

He can't remember whether he took the online out online or by the phone now.

Has anyone else managed to reclaim loan PPI from Egg?

Hi there

I would suggest it may be a good idea if no paperwork is to start by requesting a SAR (Subject Access Request) if your brother wants to, there is a charge of £10 postal order or cheque payment to enclose for this request, and they have 40 days to comply and send everything they still hold on your brother's account.
Post by recorded delivery, for proof of posting, and the letter template here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

If purchased online, it can be more difficult to reclaim, but there have still been success despite that.

Then for more info on reclaiming check here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck and post up if you require any help with this.;)

sadfurry

Hi Nicki,

I claimed from Egg and got a reply within a week and then a couple of days later they paid the PPI back plus interest. I've read a couple of others here who had the same experience. But, mine was a clear cut case of mis-selling, and I didn't even know it had been added until they started with sending the new statements this year.

At a guess the most important thing is, would your BIL have needed PPI, was he for eg covered by work for payments if off sick, did he have a condition not covered by PPI, or even was it simply a case that he thought he had to have it to get the loan or it was never mentioned.

Further to this, mine hasn't stopped at their settlement figure either, because I don't agree with their figures. So if he does claim and get an offer, check the figures from them very carefully.

Hope this helps.

Trembling_Turnip

I'm just about to send off my Egg Subject Access Request today - do you have to name the recipient on a postal order and if so who is it for 'Egg'? Do I just put Egg Finance?

Sorry for dumb question, don't think I've ever had to use a Postal order before.

Nickij - tell your brother it is well worth trying to reclaim the money, there are many success stories out there.

*****

Just googled and I think it's 'Egg Banking'