Egg figures help please

sadfurry

After one letter Egg loan wrote back, they wiped the loan and would send a separate cheque for balance. They said I had had some PPI repaid in 2006 (I don't think I did). They also stated the complaint was closed.

So I wrote asking why they had paid the loan off and not the money to me (had never missed a payment) and had closed the complaint, because the amount they paid didn't match my figures for PPI. I also asked for a breakdown of how they worked the figures out, and asking for SARS. I didn't word this as a request to have the money back and the loan reinstated.

Received Sars, no reply about how the refund was worked out so wrote again asking for it. That was 3 weeks ago.

I heard nothing, then today I discover that they had on October 1st, reinstated the loan, and paid the cash into my bank account, without telling me. Of course no DD was set up (having had the loan previously closed by them and thus the DD gone too) so if I hadn't had a statement in time, I could have had a missed payment for the first time ever:mad: for a loan I had been told was written off.

And another £45 had been added as interest.

The SARS I am struggling with, it is an inch thick for 1 loan and 1 card, but most pages seem to be a copy of the card agreement, and not the loan. I can't work out where they think I have had PPI paid back in 2006. My statement from them had a higher amount than they paid back, and so did my online account (which has gone now, as replaced with the 'new' loan details.

I guess it is the Ombudsman now, but what do I ask for? To be honest, when I got the SARS I had decided it was too much to sort through for my sanity, but now I am so angry that they reinstated the loan without telling me and could have put me in a position where it looked like I didn't pay my debts because I didn't know it was back:mad:

di3004

Hello there

Bumping this up for you and hope someone will come along with some useful advice/info on this for you.

Wishing you luck and hope things will sort out soon.;)

sadfurry

The loan was £12309 plus £3678.54 PPI

Still Owing £2800.16 (according to the statement that alerted me to PPI being taken)

They Repaid me £2091.72 (saying I already had £1586.82 taken off in 2006)
Plus Interest £969.89 (is that right?)

totals £3061.61.

They paid loan off, and sent a cheque for £176.21.

Whatever way I add it I can't get those figures to add up:eek:

3061.61 minus 2800.16 should have been a cheque for £261.45 shouldn't it?

And they then reinstated the loan at £2894.12 (where did that figure come from) on 1st Oct, but the settlement figure is currently £2940.10 (can there possibly be £45.98 interest on 15 days:eek:)

And paid into my bank account £2918.43 (shouldn't it be the same figure as what the loan amount now says it is???)

And, this was a top up loan from 2003, so what about the PPI for the loan that was rolled into this one, shouldn't that be included in the PPI refund? I had a loan 2000-02, paid it off, a new one 2003, which topped up to this one 2004. Contacted them 2006 got PPI taken off (i'd forgotten), they took £1586.82 off my account, but the statement and online still said the same now the full amount. They never sent me anything in writing back then saying how much, or I'd have queried why not the whole amount taken off.

I was turned down for the loan in 2003 and 4, without PPI, and was approved shortly after when it included PPI, which I did not need because I was already fully covered.

sadfurry

Thank you Di, I took a long time getting the figures right for the second post:o I can't 'get' these figures and am hoping that the lady :Awho does figures will spot this.

marshallka

sadfurry wrote: »

The loan was £12309 plus £3678.54 PPI

Still Owing £2800.16 (according to the statement that alerted me to PPI being taken)

They Repaid me £2091.72 (saying I already had £1586.82 taken off in 2006)
Plus Interest £969.89 (is that right?)

totals £3061.61.

They paid loan off, and sent a cheque for £176.21.

Whatever way I add it I can't get those figures to add up:eek:

3061.61 minus 2800.16 should have been a cheque for £261.45 shouldn't it?

And they then reinstated the loan at £2894.12 (where did that figure come from) on 1st Oct, but the settlement figure is currently £2940.10 (can there possibly be £45.98 interest on 15 days:eek:)

And paid into my bank account £2918.43 (shouldn't it be the same figure as what the loan amount now says it is???)

And, this was a top up loan from 2003, so what about the PPI for the loan that was rolled into this one, shouldn't that be included in the PPI refund? I had a loan 2000-02, paid it off, a new one 2003, which topped up to this one 2004. Contacted them 2006 got PPI taken off (i'd forgotten), they took £1586.82 off my account, but the statement and online still said the same now the full amount. They never sent me anything in writing back then saying how much, or I'd have queried why not the whole amount taken off.

I was turned down for the loan in 2003 and 4, without PPI, and was approved shortly after when it included PPI, which I did not need because I was already fully covered.

There would have been settlement interest on this. They usually now charge a couple of months interest to settle early if the loan was settled within the new regs. Although the amount lenders charge varies, it is usually no more than 1 or 2 months’ interest payment

http://www.fisa.co.uk/downloads/Early%20Settlement%202004%205.pdf


http://www.creditlaw.co.uk/Refpages/Early%20settlement.htm

As regards all the different figures then I would get in touch with your bank over these and demand an explanation. I had not read further down about the loan being "reinstated???"


Have you claimed or complained about the other loans?

sadfurry

I would write and demand an explanation, but I've written 3 times in total asking how they worked out the figures from their original response (2 months ago now) and never had a reply. Thats why I thought it is time for the Ombudsman really. Or do you think I shouldcomplain again direct to them first?

When I wrote to them about this loan, I didn't specifically say go back to the original loans, which is probably why they wrote back within a week, having paid the loan off, and said the complaint was closed. TBH I assumed it would all be done as one, as they were 'topped up' so never had new agreements as such.

As for reinstating the loan then charging more to pay it off again, and not letting me know:mad:
well I assume that 45 pounds was a couple of months interest then, paying for the pleasure of them giving me a new loan that I didn't ask for after telling me it was all completed.