Egg - have offered one refund, should I fight for more?

treacletoes_2

I took out an Egg loan around 8 years ago and was sold PPI on the phone with the vague idea that a few pounds a month would be added to the loan. There was no indication that the full amount would be added to the loan.
I ended up with a £16000 loan instead of the £12000 I wanted to borrow to pay off my debts.
I was more than devasted when I found out and called Egg to cancel the PPI, which they refused.
I was so horrified, I took out a Lloyds loan to pay off the Egg loan early and am still paying it off today!
I wrote to Egg using the Which reclaim letter template and they have offered to pay back the insurance amount of £900, but not the total £4k added to the loan as they claimed there was no evidence that it was mis-sold.
They have said I only have 2 weeks to accept.
SHould I write back, write to the Ombusdman - or take the money and run!


In peoples experience

di3004

treacletoes wrote: »

I took out an Egg loan around 8 years ago and was sold PPI on the phone with the vague idea that a few pounds a month would be added to the loan. There was no indication that the full amount would be added to the loan.
I ended up with a £16000 loan instead of the £12000 I wanted to borrow to pay off my debts.
I was more than devasted when I found out and called Egg to cancel the PPI, which they refused.
I was so horrified, I took out a Lloyds loan to pay off the Egg loan early and am still paying it off today!
I wrote to Egg using the Which reclaim letter template and they have offered to pay back the insurance amount of £900, but not the total £4k added to the loan as they claimed there was no evidence that it was mis-sold.
They have said I only have 2 weeks to accept.
SHould I write back, write to the Ombusdman - or take the money and run!


In peoples experience

Hi and welcome

The decision is yours of course, and you can of course as you know make a complaint to the FOS, although it may take some time before they deal with your case.
However if your in financial hardship let the FOS know (if you decide to go this direction) and they may consider fast tracking, but even this can still take some time.

I do think in my opinion there is a lot of money there.....and due to this I would then persevere with the FOS, but of course this is totally your decision.;)

Either way we are with you, good luck.