Egg Loan T&Cs

caspa1978

Hi everyone,
I recently sent off the template letter to Egg along with a cheque for a pound asking for a copy of my credit agreement as I couldn't find it and am sure it had PPI on and I got a letter back from them stating

"As the account you refer to is now closed I have to inform you that Egg are under no obligation to comply with a request of the executed agreement under the Consumer Credit Act as we no longer have a contractual relationship relating to this account, nor are we seeking to enforce any agreement on the account"

It then goes on to say

"Section 77 (3) (a) of the Consumer Credit Act states that section 77 (1) does not apply where 'no sum is, or will or may become, payable by the debtor.' The right to request an executed copy of an agreement is found in Part VI of the Act, which is entitled 'Matters arising during currency of credit or hire agreements'; so where an agreement is no longer current the right to request or be provided with a copy of the executed agreement therefore ceases.'

This confuses the hell out of me, but I'm not sure whether I've done something wrong or whether this is some sort of diversionary tactic from Egg. Has anyone else had issue similar to this or can offer any advice on what I should do next?

Many thanks
Mark

di3004

caspa1978 wrote: »

Hi everyone,
I recently sent off the template letter to Egg along with a cheque for a pound asking for a copy of my credit agreement as I couldn't find it and am sure it had PPI on and I got a letter back from them stating

"As the account you refer to is now closed I have to inform you that Egg are under no obligation to comply with a request of the executed agreement under the Consumer Credit Act as we no longer have a contractual relationship relating to this account, nor are we seeking to enforce any agreement on the account"

It then goes on to say

"Section 77 (3) (a) of the Consumer Credit Act states that section 77 (1) does not apply where 'no sum is, or will or may become, payable by the debtor.' The right to request an executed copy of an agreement is found in Part VI of the Act, which is entitled 'Matters arising during currency of credit or hire agreements'; so where an agreement is no longer current the right to request or be provided with a copy of the executed agreement therefore ceases.'

This confuses the hell out of me, but I'm not sure whether I've done something wrong or whether this is some sort of diversionary tactic from Egg. Has anyone else had issue similar to this or can offer any advice on what I should do next?

Many thanks
Mark

Hi Mark and welcome

What you have done is used the template to request for a copy of your agreement, this is not the one used to make the reclaiming complaint, you will find the reclaim questionnaire that replaced the template letter for this on step 3 below.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

To request for a copy of the Agreement they may not longer hold this on file as such if the account is closed nor as they state are obligated to send this, for example if the account is closed.
However, they should hold data of your account going back the last 6 years and if you do require any paperwork you can optionally request a Subject Access Request in short a SAR.
There is a letter template below if you want to request for your data where they have 40 calendar days to comply and send what they still hold on the account.
Remember this is optional as also requesting for a copy of your agreement.
https://forums.moneysavingexpert.com/discussion/1475553

So basically in regards of making a reclaim, as long as you have the account number, your reasons then you can continue to make a reclaim by completing and sending off the questionnaire to the head office or complaints dept of whoever sold you the policy.