UPDATED Egg gave wrong info to Experian - Compensation due ? Now agreed - read more

jongar

Back in 2002/3 I had professional issues -lost my job, couldn't get back into one as well paying. Went from a 50k a year job to working as a limo driver and baker for Waitrose. Since 01/06 however I have been working in Ireland earning 40k+. Coming back to the UK now, and decided to sort out a proper account with RBS (had a Cashline account with them since 2002) They took all my Irish pay records, new contract, everything - and declined. Heard about the Citibank account, did that - was declined. At this point I also hit up Capital One for their 34% card - just to correct my uk credit record.(I have Irish credit cards these days) Turns out Egg Card did not wipe out the balance when I settled with them. The terms were Full and Final, and that the record would show a full settlement, not partial. All 3 of my creditors (Egg Card, Egg Loan and HSBC) agreed. I paid out 37% of the full amount. Egg Card have since made good on the error, but I have been embarrassed by Citibank, RBS, Capital One and Admiral Insurance as a consequence of their actions. I have detailed the information to Egg Customer Relations, and await their response.

My Question to people here - What is suitable recompense for the embarrassment and anguish suffered. Of course I have more searches on my file as a consequence of their actions.

With the indirect help of this board I am now debt free (well my old ones - I use a Visa in Ireland for my budgeting, but its all very much under control and I have savings for the first time) - Thank you for the inspiration and guidance, even if I never seen to ask.

Jon

Crown

Hi Jon,

I very much doubt that they will compenstae you in any financial way. The use of credit references are for the banks benefit in the long run and if they have corrected the error I very much doubt that they will take any further action apart froma letter of apology.

I hope Im wrong. Let us know how you get on

fbs_4800

Likewise - let us know... I hate when we're cr*pped on by these companies and they get away with it by saying sorry. Try the Financial Ombudsman on 0845 080 1800 - I've found they've always been helpful. I'm sure that if they've c*cked up and you've suffered you should be entitled to something - or at the very least - they should be penalised. *rant over* lol

gastfo

If you can state you have suffered financially due to the false information on your record you should request compensation and threaten with court.
Knowledge is power, so educate yourself what is possible and don't be dependant on "experts". Banks think they can get away with anything, but if you know the rules of the game, you can beat them.

The Fair Credit Foundation Report would help you here, but it is not free and comes in a complete educational package. Check the film in my sig and ask me if you wish to know more.

jongar

The financial odbusman says I can only claim for costs incurred. I have summed up that I spent 4 hours preparing for a meeting at RBS, The day's leave I took for the meeting, the cost of traveling to the meeting (flight to London from Dublin, by current home), and traveling time. Then there is the fruitless time i spent dealing with and appealing to Citibank(2 Hours), CapitalOne(3 Hours), Experian(2Hours) and Egg(2 Hours) over accounts, errors and issues. I have used my net tax hourly rate at work as a value (£19.69). I have costs of £583.04. The question is what should or is reasonable to add to that for the accute embarasment caused by thier ineptitude. I think I should also demand the removal of the default.

I put the numbers of this page for discussion (wheneggsgobad)

Thoughts ?

hypno06

Hi, I hope I don't throw a spanner in the works with this but I am a little confused

If you only agreed and paid back 37% of the amount outstanding, even as a full and final settlement, then would this not have an adverse effect on your credit rating anyway? If you have paid back 37% then I would have expected it to show correctly as a default on your original agreement.

I hope I am wrong for your sake, but it reads to me as though they are correct in showing an adverse entry on your file.

Let me know how you get on, and good luck.

jongar

The agreement I had with all 3 creditors was that the amount was a full and final settlement, and would be recorded as such with the credit agencys. This was done, the only one to list a partial settlement was egg card. This was in breach of the written agreement. There is a defaultm however that dates back to 2002, and will soon (well in new year) fall of. What caused RBS and CapitalOne concern was the oustanding balance of £7684 - a sum far higher than i ever owed them, and a figure that should never have been there.

jongar

Update - 16/05/07

Egg have admited liabilty for thier error. They are prepared to refund my time (albeit at £10 an hour, not my rate of £19.97 citing an FSA regulation) and the costs of my flight to London. I have asked them them to provide details of this regulation as a friend of mine at the FSA is not aware of it - if you quote it, prove it I say.

There is the issue of my emoosinal distress, while a amount of money would prove useful, i wonder if perhaps I should ask for the default to be removed. Qould they be able do do this ?

steve700

jongar wrote: »

I have used my net tax hourly rate at work as a value (£19.69). I have costs of £583.04.
Thoughts ?

If FSA say £10 an hour and you're not taxed on that, I'd be very happy indeed.

If I had a £15 an hour day job, I wouldn't expect a bar job to pay the same. You either do the work at the rate offered or you don't bother........

Having only paid 37% of your debt to clear it, I would say that you're already very lucky indeeed!!

jongar

Dont get me wrong - I know how lucky I was, but I am still paying back that 37% to my family. Had egg shown patience they would have had a better chance of getting it all back, but thier lack of understanding pushed me into a corner, and the only way out was acceptance or bankrupcy. I am revising my claim to a gross amount £230 a day, 28.75 per hour. No point double taxing. I would be very interested to hear if anyone dealing with endowments and the like came across this £10 per hour limit for case preparation and the like ?

Moderators - is this thread in the correct forum ?

Jon

hypno06

So, even though FSA say £10 an hour, you were claiming £19.97 an hour and you have revised this to £28.75 an hour?

I am sorry, but I really think that you should quit while you are ahead. I don't want to be negative about this, but you have got a ruling in your favour. Go with it, and move on with your life.

Presumably the day off you are claiming for had to be taken as unpaid, and not out of your annual leave?