Urgent Advice Please Re Creditor.

lisahelp

Please can anyone offer any advice please,i have been BR for nearly 2 months and today i got a letter from egg bank regarding my loan saying that as there is a clause in my loan agreament that states that the loan shall be fully payable if i am declared bankrupt that on or after the 13th of september we intend to take the following action to enforce this condition of your loan agreement.
To demand payment of the whole of the current balance outstanding on the account since you have been adjudged bancrupt.
I am really worried that i will have to pay all this back or they will take goods from my home.
I have just gone back to work after being off ill with all the stress thinking things were slowly getting better then this comes.
please please any advice.
thanks in advice
lisa

Richard_S

lisahelp wrote: »

Please can anyone offer any advice please,i have been BR for nearly 2 months and today i got a letter from egg bank regarding my loan saying that as there is a clause in my loan agreament that states that the loan shall be fully payable if i am declared bankrupt that on or after the 13th of september we intend to take the following action to enforce this condition of your loan agreement.
To demand payment of the whole of the current balance outstanding on the account since you have been adjudged bancrupt.
I am really worried that i will have to pay all this back or they will take goods from my home.
I have just gone back to work after being off ill with all the stress thinking things were slowly getting better then this comes.
please please any advice.
thanks in advice
lisa

lisa,

It means absolutely nothing; it's part of the procedure for them and nobody can enter your house without a county court judgement and enforcement order against you. That, of course is impossible because the debt is included in your bankruptcy.

I still get letters saying that my debt to xyz Bank has been sold to abc DCA; I hope they didn't pay much for it because they'll never see a penny from me.

Just relax, stand in front of a mirror and give yourself a big cheesy smile; that and a glass of wine and you'll feel much better.

Regards

Richard

fermi

Don't worry.

Egg are talking out of their @rse.:o

No clause Egg could possibly put in the contract can override the Insolvency Legislation.

Egg are entitled to claim the entire value of the loan against your bankruptcy estate as administered by the OR/Trustee, but you are no longer personally liable.

Contact your OR ASAP to confirm this, and then forward the documentation/correspondence to them.

Please don't worry, the law is there to protect you in these circumstances, and Egg are being a bunch of *****'s.

Conor_3

Was the loan taken out before you declared BR? If so, they're talking out of their backsides.

There is no action they can legally take. Give the letter to your Official Receiver and ask them if they'll contact Egg and give them the bollocking they so rightly deserve.

Sorry for the language - they just make me mad.

fermi

I think that's a consensus.:D

Both on the legal position and what we think of Egg.:mad:

lisahelp

HI
Thanks everyone yes it is pre bancruptcy,i was having a really bad day until all your replies,i have had a hospital appointment due to ill health,this horrible letter from egg and then i opened a paint tester pot and the lid flew off and it went everywhere.
Thanks again im smilling now

Richard_S

fermi wrote: »

I think that's a consensus.:D

Both on the legal position and what we think of Egg.:mad:

What a bunch of Knuckle(eggs) they are.:rotfl: :rotfl: :rotfl:

8 minutes until home time; 38 minutes until the cork comes out.:beer: :beer:

MissMuppet

It's amazing what some of these companies will do... it's all so threatening!! One of my creditors is Egg so I will be interested to see what correspondence I will get...

Just send it to your OR and stick 2 fingers up to egg, bunch of w*******s! :mad:

fermi

I remember reading about Egg (I think it was them) doing this to someone before.

Not sure if it was posted on here or on a different forum, but the the OR dealing with it was far from pleased with them.

Mmmmm. Wine sounds just the thing Richard.:o:D See you in the bar later.

fermi

MissMuppet wrote: »

It's amazing what some of these companies will do... it's all so threatening!! One of my creditors is Egg so I will be interested to see what correspondence I will get...

Funny really. Egg was a creditor of mine as well, and they were nice as pie (Credit Card).

I'm not sure if there is a difference of attitude/approach between the loans and CC division though.

backontheup

lisahelp wrote: »

HI
Thanks everyone yes it is pre bancruptcy,i was having a really bad day until all your replies,i have had a hospital appointment due to ill health,this horrible letter from egg and then i opened a paint tester pot and the lid flew off and it went everywhere.
Thanks again im smilling now

I must say, that is absolutely awful. A paint pot spilling everywhere is always really stressful.

As for the Egg Stuff. Tell them to JOG ON