Egg...

militantconsumer

They will send you the statements and then you need to send the template letter with 8% interest calculated with Martin's online tool. My experience of helping a friend on Egg credit card charges is that they will have a series of 3 letters:-

1. Get lost we're not paying anything back
2. Ok, we'll pay you the "difference" over £16 (they reckon the £12 doesn't apply to them and that £16 is fair with Egg credit card)
3. Ok, we'll pay everything back including 8% interest.

May need to threaten legal action at stages 2 and 3, but they paid up in full without it going that far. Much quicker than going to FOS or court.

Then you sign a form as full and final settlement of the complaint and they credit your account.

Maybe you should look into whether a balance transfer is possible on a new credit card to give you a lower rate. Will depend on your credit rating, but try not to apply for lots of cards and get potentially lots of rejections. Make sure you read Martin's guides thoroughly before doing this.

bathgatebuyer

Thanks very much for that. Certainly a few years back when I first reclaimed from the halifax, things tended to follow a formula - ask for cash, get knocked back, write again, get an offer of a third of what you first asked for, refuse apply to court, within a week get all the money plus interest!

Unfortunately the balance transfer request is not a possible option for me due to a low credit score (well, I'm actually now in the 'fair' category) but they still opt to knock me back. Just knuckling down now, minimising the debt I have by putting as much as I can into my remaining credit cards to get rid of them asap!

trudij

I got a !!!!!! off letter from egg yesterday - and they have said Ive got 6 months to go to the ombudsman if I want to. An no point in the letter does it say that its their final correspondance in my case, so di I go to them again or back to the ombudsman??

hayelp!!!!

Miss_Liquorice

I have an egg money account which I've had since the beginning of august. I recently went past the credit limit by £1.10, even though I had done a fast payment into the account before the transaction that brought me past my credit limit had been debited. I'm suspecting I will still be charged the £16 for this, but if I were to ring them up and ask nicely, does anybody reckon I would be able to get this waived?

Thanks

militantconsumer

trudij - read my post from a couple of days ago. This is my letter 1 of 3 received from Egg. Keep writing back and you will get it all refunded. No need to go straight to the FOS yet.

trudij

Hi - IM doing ok so far with my reclaiming (got half back so far from MBNA, and have just found out that they also own someof my other accounts,so Im quite hopeful abot those ones!!) but Im having trouble with EGG.

Basically, I am trying to reclaim charges that are ony about £107 (but thats not the point - Id quite like it back if they shouldnt really have taken it in the first place!!!!) Ive had a letter from them saying that I can go swivel, so I wrote back with the template saying that I wasnt happy with the response and I am happy to go to the FO if I have to, but I was willing to accept £100 from them in full and final settlement to get it sorted quickly....

today I got a letter from them telling me that I have been charged in accordance with their T&C (which I was expecting), that I alledge that the charges are a penalty ( I was using the template on here!) but I have not put forward any evidence to support this allegation and they do not accept it.the charges are a genuine pre-estimate of the loss caused to egg when a customer breaks the terms of the agreement....
and they are saying that .....

"the OFT set a threshold for intervention of £12 but stated that defult fees should not be equivalent to that threshold.The OFT stated that the presumption of unfairness in relation to charges over £12 would NOT apply where exceptional business factors apply and specifically refferred to Eggs practice of requiring that all customers pay by DD as an example.The OFT said in those circumstances,a card issuer may be able to set a fair defult charge above the threshold of £12"

Apparently, the OFT indicated that it wil not proceed further against Egg on the basis that egg reduced its charges from £20 to £16"

then they offered to credit my account (which is being looked after as part of my IVA) a total of £16 ( £4 per default charge) in full and final settlement.Ive got 14 days to accept this, then it will be withdrawn. they have included two acceptance forms for me to sign - but I think they are taking the p*** frankly....

so what do I do now?? Is there a template somewhere for me to write to the ombudsman? Im not very good at writing letters,and could do with all the help I can get!!

Also - can someone translate it into english for me? and how do I get the money sent to me? Or can I land them in the deep poo with my IVA company because they are breaking the terms they agreed to by paying it into my account that no longer exists????

HAYELP !! (please!) and sorry its so long!!!

militantconsumer

My experience of helping a friend on Egg credit card charges is that they will have a series of 3 letters:-

1. Get lost we're not paying anything back
2. Ok, we'll pay you the "difference" over £16 (they reckon the £12 doesn't apply to them and that £16 is fair with Egg credit card)
3. Ok, we'll pay everything back including 8% interest.

May need to threaten legal action at stages 2 and 3, but they paid up in full without it going that far. Much quicker than going to FOS or court.

Then you sign a form as full and final settlement of the complaint and they credit your account.

sillyme

Interesting. I have just claimed from Egg too - waiting for a reply to letter 1.

What was the amount (if you don't mind saying) that your friend was claiming back?

And, how can they pay you back if your account not longer exists??

militantconsumer

7 charges of £20 = £140 plus interest.

If account closed presumably they will send you a cheque to pay into your bank account.

trudij

militantconsumer wrote: »

They will send you the statements and then you need to send the template letter with 8% interest calculated with Martin's online tool. My experience of helping a friend on Egg credit card charges is that they will have a series of 3 letters:-

1. Get lost we're not paying anything back
2. Ok, we'll pay you the "difference" over £16 (they reckon the £12 doesn't apply to them and that £16 is fair with Egg credit card)
3. Ok, we'll pay everything back including 8% interest.

May need to threaten legal action at stages 2 and 3, but they paid up in full without it going that far. Much quicker than going to FOS or court.

Then you sign a form as full and final settlement of the complaint and they credit your account.

Maybe you should look into whether a balance transfer is possible on a new credit card to give you a lower rate. Will depend on your credit rating, but try not to apply for lots of cards and get potentially lots of rejections. Make sure you read Martin's guides thoroughly before doing this.

Ive found this one mc - is this the post you mean?? Im cinfused though - do I write back and say that if I dont get a satisfactory reply then I shall be taking it to the FO now (which is basically what I said in my letter last week!) or what??!!!
Im also not sure what to do about this "we will credit the money to your account" bit either - the account was closed when I took out my IVA, so how can they do this? (think that might be a phone call to the iva people tomorrow!!)

thankyou for your help - it really is appreciated :T :T