Egg Loan Success :)

Sweden2009

Hi all,

I am still helping a friend to reclaim PPI. Had great success with A&L on two loans but with postal strikes etc the others have been delayed.

Egg have just sent a letter regarding loan saying they will refund all PPI on loan and asociated interest charges.

PPI premium was £2171.40
Less any PPI premium refund taken off loan £1174.69
Refund of interest charged on PPI premium at contractual loan rate £213.46

Total refund £1210.17

Problem is my friend doesnt have any paper work. Think the loan was for £10,000 over 60 months and paid off early, possibly after about 32 months. Interest rate was 5.9% he thinks.

Can anyone suggest if these sound right or not?

Thanks

J

di3004

Sweden2009 wrote: »

Hi all,

I am still helping a friend to reclaim PPI. Had great success with A&L on two loans but with postal strikes etc the others have been delayed.

Egg have just sent a letter regarding loan saying they will refund all PPI on loan and asociated interest charges.

PPI premium was £2171.40
Less any PPI premium refund taken off loan £1174.69
Refund of interest charged on PPI premium at contractual loan rate £213.46

Total refund £1210.17

Problem is my friend doesnt have any paper work. Think the loan was for £10,000 over 60 months and paid off early, possibly after about 32 months. Interest rate was 5.9% he thinks.

Can anyone suggest if these sound right or not?

Thanks

J

Hi there

Well done on your friends Success......:T:beer: and well done to you for making it happen.:T:T.

Calculations I am useless........:o, but she could always request that they send a full detailed written breakdown through the post.

The only other way is to request a Subject Access Request (SAR) for all the paperwork, there is a charge of £10 postal order or cheque payment for this and they have up to 40 days to comply.
For the template letter (SAR) here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Maybe someone good with workings out will come along soon to check these, hopefully.;)

Sweden2009

di3004 wrote: »

Hi there

Well done on your friends Success......:T:beer: and well done to you for making it happen.:T:T.

Calculations I am useless........:o, but she could always request that they send a full detailed written breakdown through the post.

The only other way is to request a Subject Access Request (SAR) for all the paperwork, there is a charge of £10 postal order or cheque payment for this and they have up to 40 days to comply.
For the template letter (SAR) here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Maybe someone good with workings out will come along soon to check these, hopefully.;)

Hi Di,

Thanks for the reply. Yes we did consider the SAR and in retrospect, probably should have asked for it ages ago!

I think we will write to them asking for exact breakdown of refund. Regrding the cheque; should we bank it or wait for a resonse regarding the breakdown?

Thanks

di3004

Sweden2009 wrote: »

Hi Di,

Thanks for the reply. Yes we did consider the SAR and in retrospect, probably should have asked for it ages ago!

I think we will write to them asking for exact breakdown of refund. Regrding the cheque; should we bank it or wait for a resonse regarding the breakdown?

Thanks

I see, not a problem, hopefully they will send the written breakdown in the post, they should do this on request.

If your friend wants to make sure first before banking that may be a good idea, I think there a bit of time for banking cheques, can't remember what it is though.

So whatever your friend thinks best really.;) Just make sure the cheque is banked before the deadline though.