Egg loan PPI

robo1973

Hi,
I've successfully made a PPI reclaim but I'm not sure if what they are offering is correct.

The loan was for £7500 with £872 PPI added to be repayed over the term of the loan.

The loan has been repayed in full but 15 months before the end of the loan term I entered into a debt management plan.

Egg have offered me the interest on the premium paid plus the 8% compensation interest. They are not refunding the £872 premium paid as they claim this was rebated when the PPI was cancelled.

I have the loan statements and I can't see any rebate listed, only payments I made. Arrears were cleared after 6 months and the loan was repayed in the normal loan term (54 months).

The Egg loan PPI claim number is now fully automated and I can't speak to anyone, only write to them.

Has anyone else had an issue like this? You'd think that if the case has been reviewed by someone then the decision would be correct so am I just delaying getting the £526 they are offering by writing to them or is there a good chance they are hoping I'd accept and not question it?

Any advice would be grately appreciated!

scotlass99

I've had almost the exact same issue. I paid my egg loan back in the normal loan period and they are stating that I have already been refunded around £500. I am extremely frustrated that the number is automated! I've have written to them 3 weeks ago about this and have not received any response. I tried calling Yorshire Bank who took over all existing accounts but since mine is now closed I was given the automated number.

I think it is completely ridiculous that the number on the offer letter is an automated line and you can't actually discuss your offer with anyone! Please let me know if you get any kind of response or if anyone knows of another number to call.

Good luck!

kerryallc71

Ive just looked through the egg ppi axa policy
it says if loan settled early they refund back some of the ppi
( one quarter of the way through - 56% ) - ( one third of the way through - 44% )
(half way through - 25% ) - ( two thirds of the way through - 11%)
(three quarters of the way through - 6% ). Hope this helps
we are doing a claim at the moment as well with them .

kerryallc71

Our last loan with them was back in 2006 , not sure if that makes any difference .

kerryallc71

https://forums.moneysavingexpert.com/discussion/4183839

similar story , I have a feeling this will happen to us as well if we are successful with our claim with egg , our loans were paid off early as well , so our payout will be pretty small .

robo1973

I've just spoken to the Financial Ombudsman who have said there are issues with Egg at the moment and they're unable to open new cases with them...?!
They can't offer any advice other than write to egg (which I have) and wait for a response.

robo1973

Update and a win!

Wrote to Egg on the 12th, received a reply today (wow!)

They've admitted making a mistake, full of apologies and my reclaim has gone from £525 to £1400!!

Absolutely made up!

daj2390

We have the same problem with egg at the moment, claim upheld but they are saying we had a rebate of nearly £1,000 but as far
as we are aware we never repaid early or cancelled policy but trying to contact them is impossible. Have written, phoned and emailed but no joy or replies!! Any advice would be appreciated thanks.

robo1973

I wrote to the Canada Square Operations with a copy of my loan statements asking for the full details of how and when the rebate was made.
I received a reply within a week saying they made a mistake as there was no rebate and they'll now pay me in full.
It seems like they are hoping people will accept this without questioning it?

Keep on at them and good luck!

daj2390

robo1973 wrote: »

I wrote to the Canada Square Operations with a copy of my loan statements asking for the full details of how and when the rebate was made.
I received a reply within a week saying they made a mistake as there was no rebate and they'll now pay me in full.
It seems like they are hoping people will accept this without questioning it?

Keep on at them and good luck!

Thanks I will try that address then as we just replied to the address on the offer letter. Fingers crossed, thanks again. Is this address for Egg as I notice on the address thread it is Citibank or is this who I need to write to as all my correspondence is from Egg still thanks for your help.

kerryallc71

the egg address for Canada square operations is :

Canada square operations
PO box 53678
london
SE5 5FW

hope this helps , this was on a letter we received this week off them .