Egg Loan PPI

k3ndo

dec22 wrote: »

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!

Morning all... Some good and 'annoying' news!

Had a letter today stating that my complaint has been upheld! :j

Buuuuuuuuuut.....

They say that since the BBA has now commenced a judicial review of PPI complaint handling rules proposed by the FSA, there is uncertainty as to the rules applicable on how the refund should be calculated. As such they're unable to determine how to calculate a refund in relationship to my complaint.
They say that as soon as the outcome of the judicial review is final they'll calculate the refund owed to me

As expected, the PPI on my account has been cancelled though

They've included another FOS leaflet too...

jordan360

Had a letter apologising for the delay, saying it's taking a while to gather all the evidence , and that I can either wait of take it to the FOS, hopefully I'll get the same response as k3ndo, fingers crossed!! I'll keep you posted.

jordan360

Got home from working away, to find a letter from egg , my complaint has been witheld, woohooo. But because of the review they can't calculate how much they owe me yet.

I have absolutely no idea how long this will take, any ideas???
Oh and a big thank you to everyone for helping me along my way.
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di3004

Well done to you!:beer:

No idea on how long it will take, but it seems there are many in the same position as you, hopefully you won't have to wait that much longer, please let us know once you do know, cheers.;)

jordan360

hi,
just one more question? will egg make me an offer or will it be a pre decided sum? just wanted to work out how much i think ill get back before i hear from them, can anyone help me with the workings please, my details are below.

annual percentage rate (APR) 6.9% (as per agreement)

annual interest rate 6.73% fixed (as per agreement
date of initial advance ,21 February 2006
amount of credit £20,174.00 cash loan
£5,059.44 repayment protection
total: £25233.44

term of loan 60 months, however ive taken a few payment holidays and its now due to finish nov 2011
monthly payments are now £603 but have only gotten that high due to the payment holidays, i think they started at 580.

if anyone can help me it would be great.

di3004

jordan360 wrote: »

hi,
just one more question? will egg make me an offer or will it be a pre decided sum? just wanted to work out how much i think ill get back before i hear from them, can anyone help me with the workings please, my details are below.

annual percentage rate (APR) 6.9% (as per agreement)

annual interest rate 6.73% fixed (as per agreement
date of initial advance ,21 February 2006
amount of credit £20,174.00 cash loan
£5,059.44 repayment protection
total: £25233.44

term of loan 60 months, however ive taken a few payment holidays and its now due to finish nov 2011
monthly payments are now £603 but have only gotten that high due to the payment holidays, i think they started at 580.

if anyone can help me it would be great.

Hi there

I'm sure someone will be along at some point to check the calcs for you.

They may uphold in your favour, or a goodwill offer, depending if they believe it was mis sold or not.
Good luck.;)

Lincsdebt

I heard at the end of October 2010 that my complaint about PPI on an Egg loan I took out in 2006 had been upheld by the Financial Ombudsman. It took nearly two years to get to that decision. I was told that I should hear from Egg within 8 weeks. When those 8 weeks had passed without a letter, I rang and asked what to do. I was told to ring Egg who then told me there was a judicial review and they were not paying any claims and they couldn't tell me how long it would take.

So I wouldn't count any chickens, because they could be long time hatching.

If anyone has any idea what is happening about this, I would be grateful for advice. I have not received any correspondence at all from Egg telling me about the delay.

di3004

Lincsdebt wrote: »

I heard at the end of October 2010 that my complaint about PPI on an Egg loan I took out in 2006 had been upheld by the Financial Ombudsman. It took nearly two years to get to that decision. I was told that I should hear from Egg within 8 weeks. When those 8 weeks had passed without a letter, I rang and asked what to do. I was told to ring Egg who then told me there was a judicial review and they were not paying any claims and they couldn't tell me how long it would take.

So I wouldn't count any chickens, because they could be long time hatching.

If anyone has any idea what is happening about this, I would be grateful for advice. I have not received any correspondence at all from Egg telling me about the delay.

Hi

First of all well done on your success.:beer:

The FOS gives this timescale automatically, but I would now contact the FOS to let them know you still not heard anything and they should advise you from this step, but otherwise contact EGG and ask them when you should be hearing from them in regards of your refund, because the 8 weeks have now passed, good luck.;)

Lincsdebt

di3004 wrote: »

Hi

First of all well done on your success.:beer:

The FOS gives this timescale automatically, but I would now contact the FOS to let them know you still not heard anything and they should advise you from this step, but otherwise contact EGG and ask them when you should be hearing from them in regards of your refund, because the 8 weeks have now passed, good luck.;)

I've already contacted the FOS earlier this month and they told me to call Egg, which I did. Egg told me they wouldn't give me a settlement figure or payment because of the review. They said they were sending out letters, but I haven't had one.

So basically I'm just waiting.

di3004

Lincsdebt wrote: »

I've already contacted the FOS earlier this month and they told me to call Egg, which I did. Egg told me they wouldn't give me a settlement figure or payment because of the review. They said they were sending out letters, but I haven't had one.

So basically I'm just waiting.

When this happened with one of mine, I emailed the Chief Executive officer (CEO) different bank though, so it maybe worth you emailing the CEO dept, its unlikely the CEO will get back to you directly but it will be forwarded on to the refunds dept.;)