Egg PPI Reclaim

dottyanne

We have an egg loan that defaulted, we are currently paying the remainder of the balance through Capquest, the other day we had a statement from egg which showed that an additional £7K+ was added to the original loan for PPI - my husband took the loan out over the phone and was basically told he would only be eligible for the loan if he took the insurance - i wrote to Egg the other day and yesterday received the 'weve received your complaint letter' as standard, to get this £7K back would be amazing - my question - will they send this amount directly to Capquest to reduce the debt owed or directly to us to distribute as we see fit?

di3004

dottyanne wrote: »

We have an egg loan that defaulted, we are currently paying the remainder of the balance through Capquest, the other day we had a statement from egg which showed that an additional £7K+ was added to the original loan for PPI - my husband took the loan out over the phone and was basically told he would only be eligible for the loan if he took the insurance - i wrote to Egg the other day and yesterday received the 'weve received your complaint letter' as standard, to get this £7K back would be amazing - my question - will they send this amount directly to Capquest to reduce the debt owed or directly to us to distribute as we see fit?

Hi there
Wishing you luck.

They all vary but if there is debt, generally yes they do refund towards this and the remainder if any direct to you.
But as I said all banks have their own ways, if you check the threads through you will find that many have complaints about these, and you may come across someone else in the same situation who may have the answers for you.
Please keep us posted, good luck.;)