Egg Loan PPI

k3ndo

I've never willingly taken PPI with any loan/CC so i was particularly bitter (and still am!) about having it on a loan I took out with Egg in October 2006.
At the time i was employed with full paid sick leave up to 6 months, then further payment but at a reduced rate. And my pension also paid out a lump sum should I die or become incapacitated.
In March 2008 i became self employed and as such the insurance became invalid, although I didn't know this until recently.
I've never missed any payments nor made any claims.

The loan was actually an extension to an existing Egg loan (without PPI) to consolidate some other debts. I applied for it online but then had to speak to them on the phone where I was told that taking PPI would affect whether I was approved for the loan.
I'm sure I remember double checking this since as I said before, I'd never had PPI before as I felt that I didn't need it with the sickness and pensions benefits from my employer.

I've looked back through my emails and found one asking me to click a link to 'sign' my loan agreement. I've logged on to my egg account and the loan agreement is there with the PPI box checked.
It's rather unfair if they say I had the opportunity to uncheck it when I had been advised on the phone that it would be unlikely that my loan would be accepted without it! Do you think I have a good case?

Hopefully they've got a copy of the phone conversation as this should clear it all up.

I submitted my PPI claim on 30th September using the questionnaire and excellent information on this site.

Just under a week later I had a letter confirming that they had received my complaint stating that they had 8 weeks to deal with it etc.
It was around this time that the banks started freezing all the claims which is just my luck!

I had another letter from them this week on the 2nd November informing me that 4 weeks had passed and that they were still 'investigating'.

So watch this space...!

di3004

Hi there & welcome

Wishing you luck on your reclaiming.

Have you thought about requesting for a copy of the conversation - in regards of the sale of this product?
They may supply free of charge, but another way would be to maybe request a Subject Access Request (SAR), where they have 40 calendar days to comply and send all they hold on your account going back at least the last 6 years.

You enclose £10 cheque or postal order for this request and there is a SAR template letter here:
https://forums.moneysavingexpert.com/discussion/1475553

This is optional of course, but may be useful for your case, good luck with this.;)

Caroline_a

I had the same thing with Egg - my loan was 2005, and I think the PPI adds up to around £2500!! taken up front of course.... It's a total waste of money as it doesnt include redundancy, but at the time I thought that I had to take it out, no insurance, no loan. Ive sent all the paperwork in, they've acknowledged it 2 days ago, so now I just sit and wait! Would be a nice New Year present though!

Good luck with your claim!

k3ndo

Well..... still no decision!

I've had a letter today stating that they're waiting for a copy of the telephone call that would have taken place at the time of the loan application. (Fine by me!)

So.... do I wait until they get back to me or go to the FOS as it's been 8 weeks since they received my complaint? Is there a benefit going to the FOS at this stage?

dec22

I would give the person dealing with your case a ring and see what they have to say.Don't get involved in any discussion, just ask when they expect to have a decision as the 8 week period is up and then you want to refer it to FOS, sometimes gees them up!!

Good luck.

Dec

di3004

Hi

I agree with dec22, chase this up, please let us know how you get on, the best of luck.

k3ndo

di3004 wrote: »

Hi

I agree with dec22, chase this up, please let us know how you get on, the best of luck.

Ok, I gave them a call a few minutes ago...
She put me on hold for a minute or two and then came back and said that she was unable to give any timeframes and I was able to go to the FOS if I wanted to as it was my choice.
I asked why she wasn't able to give any idea of how long it will take and she said that it was like asking 'how long is a piece of string?', so I asked if the delay was to do with getting hold of the audio recording which she said it was.
I asked if these recordings are held externally and confirmed that they were.

So still have no idea how long it will take!

jordan360

Hi,
Ive also recently sent back a form to egg and had a few letters saying they are looking into it further. Im interested to see how you get on. I too applied online for the loan but had to finish the application by phone.

di3004

k3ndo wrote: »

Ok, I gave them a call a few minutes ago...
She put me on hold for a minute or two and then came back and said that she was unable to give any timeframes and I was able to go to the FOS if I wanted to as it was my choice.
I asked why she wasn't able to give any idea of how long it will take and she said that it was like asking 'how long is a piece of string?', so I asked if the delay was to do with getting hold of the audio recording which she said it was.
I asked if these recordings are held externally and confirmed that they were.

So still have no idea how long it will take!

Hiya

Any further updates on this?

di3004

jordan360 wrote: »

Hi,
Ive also recently sent back a form to egg and had a few letters saying they are looking into it further. Im interested to see how you get on. I too applied online for the loan but had to finish the application by phone.

Good luck, please keep us posted, cheers.;)

dec22

I would send them a recorded letter saying that the 8 weeks are now up and you will give them a further 7 days before passing your complaint to the FOS. The trouble is once it goes to the FOS it is such a long wait for you and Egg are obviously quite aware of this. Egg are really taking their time with this!

Good luck!