EGG! PPI Claim and/or debt enforceable

carley106

I have had business with Egg probably for over 10 years. A mixture of credit cards that became loans, that freed up credit cards to become more loans etc. Eventually in January 2006 they tied the lot into one loan of approx 12k. Later on in 2006 I found myself on a DMP, this I paid for up until Jan 2011 and then stopped. I did not give Egg another payment.

Then I received notice that the debt was assigned to Apex. I challenged them into giving me a CCA. They did produce a CCA for the final loan. Then they stopped contacting me. I have no heard from Apex of Egg since.

Now as nice as that is I don't like knowing I owe nearly 12k. I also wonder why they have just stopped contacting me.

I feel either there is PPI built into the final loan (and monies lent prior) or the CCA is wrong and unenforceable. Maybe even both.

As much as I like to let a sleeping dog lie, as said I don't like owing this level of money.

I really don't know how to move forward with this any advice would be greatly appreciated.

dunstonh

Now as nice as that is I don't like knowing I owe nearly 12k. I also wonder why they have just stopped contacting me.

They can go quiet for a while and then start up again.

I feel either there is PPI built into the final loan (and monies lent prior) or the CCA is wrong and unenforceable. Maybe even both.

As you were given a copy of the CCA for the final loan then you know they have one. PPI may have been on the loan but it doesnt mean it was mis-sold.

I really don't know how to move forward with this any advice would be greatly appreciated.

You have a debt. You have stopped paying for it. It will continue to damage your credit ability until you repay it. What you do next depends on your morals.

carley106

I guess if my moral were bad I wouldn't even be on here. I am happy to restart paying them. I just am wondering though if the credit agreement is legit. Also from reading what I have here it seems there is insurance in with the loan that I never even knew about. I am happy to start paying them back although it will be small payments but also on their morals if they owe me money for whatever they should be taking that off of the balance. I will play fair if they do. I don't really know what to do to move this forward.

dunstonh

I just am wondering though if the credit agreement is legit.

Any reason you think it may not be?

Also from reading what I have here it seems there is insurance in with the loan that I never even knew about.

It was on the application and agreement in that case. How did you miss it?

if they owe me money for whatever they should be taking that off of the balance.

they dont owe you money. You are entitled to make a complaint and if they agree with your complaint they will take action but until that point, they owe you nothing.

carley106

Okay so would I be best off to get a second secured loan on my house and pay them back completely, it seems I owe them every penny from your answers. I just want to move forward. I guess it doesn't matter if the credit agreement is enforceable because I signed it anyway. Also I must of signed to accept the PPI in the interest rate, even if I signed unknowingly. So morally you think I should remortgage my property to pay them back?

[Deleted User]

carley106 wrote: »

morally you think I should remortgage my property to pay them back?

Morally, you should use any means possible to pay back what you owe. How you do that, if you do, is up to you.
Seems to me that any potential PPI complaint you may have is irrelevant to you failing to pay what you owe.

carley106

Thank you for the advice, I have decided to put my house on the market today so that I can pay them back every penny, if the house should sell. I am not sure where I will live with my two children but as long as Egg get their money back, then I know I have done right.

[Deleted User]

carley106 wrote: »

I am not sure where I will live with my two children but as long as Egg get their money back, then I know I have done right.

Seems like you are making positive steps toward becoming debt free. Are you certain you can't find less drastic alternatives, though?