Egg Card debt to Barclaycard - Equitable Charge on Property still in favour of Egg

Monopoly75

I use to have a credit card with Egg. Several years ago I got in severe financial difficulties and was unable to make my monthly payments. To cut a long story short, Egg ended up placing an Equitable Charge on my property for the card balance.

Now that Egg has sold its credit card business to Barclaycard, what should happen to this charge?

Should Egg remove the charge as I no longer owe them the money, or does it automatically transfer to Barclaycard?

The Land Registry currently (as of today) shows an Equitable Charge in favour of Egg Banking Plc. Can Egg legally still have the charge?

Thank you in advance.

Tixy

Egg only sold active credit card accounts to barclaycard I believe.

Did you actually have a letter stating that your account has been sold/taken over by barclaycard?

Jack1888

I would think that as Egg has now passed it's credit card side over to Barclaycard that it is with Barclaycard. I can't see any credit card company writing off such a debt just because they have sold to another company.

I could be totally wrong. Have you tried to contact anyone about this issue Monopoly75?

opinions4u

You don't get away with it that easily I'm afraid.

When you come to sell the property, the solicitor acting for you will have to identify who owns the charge and pay them off.

Monopoly75

Tixy wrote: »

Egg only sold active credit card accounts to barclaycard I believe.

Did you actually have a letter stating that your account has been sold/taken over by barclaycard?

Yes, I received a letter from Egg stating that my account was to be serviced by Barclaycard.

Monopoly75

Jack1888 wrote: »

I would think that as Egg has now passed it's credit card side over to Barclaycard that it is with Barclaycard. I can't see any credit card company writing off such a debt just because they have sold to another company.

I could be totally wrong. Have you tried to contact anyone about this issue Monopoly75?

I have contacted Egg but they tell me that it's in the hands of Barclaycard and they can't help with my query.

appleblossom

All the outstanding debts have gone back to barclaycard and they in turn have passed them to Moorcroft debt recovery agency - I only found out as my Oct direct debit didn't go out to the DRA that it was at the time,when I phoned them they advised it had gone to barclaycard, I rang them and they advised me, I then rang Moorcroft and set up a new arrangement with them.hth

Monopoly75

opinions4u wrote: »

You don't get away with it that easily I'm afraid.

When you come to sell the property, the solicitor acting for you will have to identify who owns the charge and pay them off.

I am not trying to get away with anything. As I see it, if I now owe the money to Barclaycard, then any charge on my property should be in their favour. As I no longer owe money to Egg, then surely they have no right to a charge on my property.

My main concern here is that if I pay off my debt to Barclaycard how do I get the charge removed if it's in favour of another company which no longer has claim to the money.

Tixy

If you find out for certain that the debt has been sold to barclaycard (not just serviced by), then I would contact the court that issued the charging order to explain the situation and ask for their advice.

Monopoly75

Tixy wrote: »

If you find out for certain that the debt has been sold to barclaycard (not just serviced by), then I would contact the court that issued the charging order to explain the situation and ask for their advice.

Thanks for your advice Tixy. I have called Egg & Barclaycard, neither can give me any information. I will now contact the court.