Egg loan sold to Britannica Recoveries SARL

rikmartin

Hi,

Just had a letter today about my Egg Loan being sold to this company. (Moorgate Loan Servicing Ltd)

They say it changes nothing with my agreement. Is this true?

Common_Sense_2

yes, the terms and conditions of your loan remain the same, it's just that they now own the debt

ASL

Just had a letter from Egg, they are threatening me with Britannica recoveries. For a old loan that was included in bankruptcy in 2008, and was discharged in 2009. Egg in my opinion are breaking the law.

Misty_Blue

I've just opened this same letter. I've had this loan for four years and have never missed a payment. There are only 9 payments left until its cleared. :huh:

KingElvis

Hasn't Egg just been sold? maybe the buyer is getting shot of the stuff they don't like?

Misty_Blue

I've spoken to someone at Egg and it is that all the Egg loans have been sold. They said they were getting a lot of enquiries from people alarmed at the name of the new company - Britannica Recoveries - but its nothing to do with the status of the loan.

KingElvis

Misty_Blue wrote: »

I've spoken to someone at Egg and it is that all the Egg loans have been sold. They said they were getting a lot of enquiries from people alarmed at the name of the new company - Britannica Recoveries - but its nothing to do with the status of the loan.

Doesn't sound very appealing does it?

Misty_Blue

KingElvis wrote: »

Doesn't sound very appealing does it?

Not at all. My biggest worry is that it will appear like that on the credit rating I'm desperately trying to rebuild, and will look bad to other lenders. :eek:

KingElvis

Makes you wonder who made such a stupid decision at the corporate level, it beggers belief.

I for one wouldn't want that name on my credit history, even if it is benign

keepsmiling32

Saw this on a telegraph news website earlier, thought it might help:

"Citigroup has now also completed a deal to sell the loans side of Egg's business to a company called Britannica Recoveries SARL, based in Luxembourg."

EssexHebridean

So, first the credit card business, now the loans? What do Egg actually have left? (Not my ISA, that's for sure, rate of interest was so low I've ported it out!)