HELP with Egg PPI claim!!!

stevegoldsmith

Hi,

I recieved an offer from Egg back in 2010 for £2735 PPI refund, but the loan is in arrears, and i could not afford the £500 bill for the claim company, so i rejected the offer.
Back in Oct 2011 they wrote to me again, and sent me a FOS form to fill in stating that Egg should pay me the money direct, and not reduce the arrears of the loan.
Last week the PPI company emailed me stating that FOS had upheld my complaint, and Egg would write to me within 8 weeks with an offer.
Today, i have recieved a letter from Egg stating that my arrears have been reduced by £1174 from the 24th Jan...

I am bemused at 1, where did they get that figure from as the initial offer was for £2735, and 2, why are they not offering me the full sum.
Also, as they took the money unlawfully, how can they claim this money is theirs to keep?
This is surely no different to me going into someone’s house and stealing their TV as they owe me money, being caught, getting arrested and prosecuted, but being allowed to keep the TV as the VICTIM owed me money in the first place?

Could anyone explain this to me?
Or are Egg still trying to take the p!$ $???

stevegoldsmith

Thanks for you advice, in advance

dunstonh

Bottom line is that you have messed up here I'm afraid. You should never ever use a claims company if you are in arrears, have defaults or amounts written off.

The bank is allowed to offset any redress against arrears. So, the FOS was never going to change that position. The claims company will bill you on the FULL amount paid by the bank whether you personally receive it or not. So, the claims company should be billing you against £2735 even though you are not getting it.

Also, as they took the money unlawfully, how can they claim this money is theirs to keep?

Would you like to explain which law they have broken? The bottom line is that they havent taken the money unlawfully. If you took them to court you would almost certainly lose. If you check your documentation on the award, you will see it is a goodwill payment.

his is surely no different to me going into someone’s house and stealing their TV as they owe me money, being caught, getting arrested and prosecuted, but being allowed to keep the TV as the VICTIM owed me money in the first place?

What you want is actually quite cheeky. You are in arrears. So, you havent paid what you were meant to pay. Yet you seem to want all this money. All the bank are saying is that we will refund you but seeing as you havent paid us what you owe, we will pay you the difference.

Or are Egg still trying to take the p!$ $???

Egg are correct. It is you to be honest that is.

maggy50

It could be that they are separating the refund to the interest payable to you and the difference to any arrears you may have.

In some cases even with arrears they have paid the interest direct by cheque or I to bank.

Ring them and see if this is the case.?