Egg PPI

amazeandy

Hi everyone

Would be really grateful for some advice !!

just received an offer for the ppi I had on a loan 6 years ago.

Just seems a bit confusing, heres what is says

PPI premium on loan £ 2998.50
Less any PPi Premium refund taken off loan £1906.95
Refund of interest charged on PPI premium at contractual loan rate £323.03
Total refund due £1404.58

Does this sound fair, I have up to 24th June to accept offer and would really appreciate any advice on this.

Thanks in advance - Andy

di3004

amazeandy wrote: »

Hi everyone

Would be really grateful for some advice !!

just received an offer for the ppi I had on a loan 6 years ago.

Just seems a bit confusing, heres what is says

PPI premium on loan £ 2998.50
Less any PPi Premium refund taken off loan £1906.95
Refund of interest charged on PPI premium at contractual loan rate £323.03
Total refund due £1404.58

Does this sound fair, I have up to 24th June to accept offer and would really appreciate any advice on this.

Thanks in advance - Andy

Hi Andy

Congratulations.:beer:

So basically:
The full amount was:
£ 2998.50
reduced by:
£1906.95
this leaves = £1091.55
plus interest of:
£323.03 plus the above amount = £1414.58
About £10 quid down going by my workings out, but its correct in the calcs more or less otherwise.

I'm sure others will come along to check as well.

Well done.:beer:

Di

warmedup

Andy
I take it from the PPI premium refund you have cleared this loan some time back?
Typical of egg they will not have included statutory compensation.
I have several Egg loans that Egg have given money back on but have now taken to the FOS to get statutory added to.
Is this a full & final offer or have they left the door open?
Ultimately the decision wether to take it or not is yours.
Hope this helps
Warmedup

amazeandy

Hi Di and warmedup many thanks for your replies.

Di thanks for making it clearer makes sense now,

The letter quotes "I hope you find this proposal fair and reasonable and assuming you are satisfied, please confirm your acceptance by returning the attached form to us within the next 14 days.
Once this has been received the appropriate action will be taken and your complaint will be closed."
To be honest is seems like a good result I only posted letter to them 7 days ago but I wasnt too sure if I was being niave.

Thanks Andy

robbedofmymoney

figures look to be about right,
it does not look like they have included the 8% simple though.

cheers

amazeandy

Thanks robbedofmymoney and a big thanks to the mse community who without their knowledge I wouldn't have known this existed !!
I had a few loans with Egg over the years how far back does the claiming go ??

Thanks Andy

robbedofmymoney

amazeandy wrote: »

Thanks robbedofmymoney and a big thanks to the mse community who without their knowledge I wouldn't have known this existed !!
I had a few loans with Egg over the years how far back does the claiming go ??

Thanks Andy

there is no time limit on how far back you can go, the only determining factor is wether or not the information is available on old loan and card accounts.

if there is no longer any information it would be difficult,
if however you have the information and you were miss-sold you have a chance.

the only real way to check if a lender has information is to request a SAR from them, this will cost you £10 but they have to provide you with all the information, current and old that they still hold on you.

they are only obliged to hold information for 6 years, but some hold the info for longer, in my case Lloyds supplied info going back to 1996.

there is a link on the main ppi page for a SAR template letter.

good luck and let us know how you get on.

amazeandy

Hi Folks

Just thought I post some up to date info and I looking for some more advice please.

Mangaged to get another £552.00 from another loan from Egg :j
Got an ongoing investigation with HFC, HBOS & MBNA I keep you updated.

Egg have sent me my cc statements from the previous 6 years I had 2 cc with them but forgive me if I sound silly but if I did have ppi tied in with credit cards would it show up in my statements seperately or would it have been included in the interest, as ever very gratefull for any advice !!

Andy

di3004

amazeandy wrote: »

Hi Folks

Just thought I post some up to date info and I looking for some more advice please.

Mangaged to get another £552.00 from another loan from Egg :j
Got an ongoing investigation with HFC, HBOS & MBNA I keep you updated.

Egg have sent me my cc statements from the previous 6 years I had 2 cc with them but forgive me if I sound silly but if I did have ppi tied in with credit cards would it show up in my statements seperately or would it have been included in the interest, as ever very gratefull for any advice !!

Andy

Hi Andy

Well done on your success.

I have always known it to show up on the monthly statements, its been a few years for me though, so maybe things have changed a little.;)