Egg Default

[incipience]

Recently noticed egg has issued a default on my account, even though they have never informed me of the fact and that all my payments are up to date. Last year I had some financial problems which have now been resolved, missed at the most 2 payments but brought the account back up to date within 2 months. Kept Egg up to date every step of the way.

 

The default has now caused financial repercussions, and no other credit company will deal with me, my credit rating is now on the floor.

 

Filed a complaint with egg.. they told me that the default is right and I had to go to ombudsman if I wanted to complain further.

 

What are my options as this default has ruined my future.

 

Any advice will be appreciated.

[incipience]

Hate to bump a thread, but really could do with some advice on this one.

 

What is the situation with a default being issued even if payments are up to date?

 

Doesnt a default constitute breach of contract, ergo the original contract is no longer in effect.

 

Really REALLY would appreciated some assistance with this matter.!

[deathshead]

send them a CCA 1974 request for a copy of the default they sent you, if they cant then they must remove it

[incipience]

Have sent that very request in the last 24 hours.

 

But what I want to know is the whole situation with a default being issued. I have continued to pay then and brought the account up to date within a few weeks of missed payment.. However it appears that they have not update my credit file and the default remains withhout the last years payment history.

 

Surely they have to keep the information up to date.

 

As the default is issued what incentives do I have to pay of the rest of the balance, I would have a better chance at letting it go to CCJ at least I can get that marked as settled.

 

Account is still active and I am continuing to make payments, EGG refuse to remove default and claim that it is a true reflection of my account which I dont understand as I missed one payment over a year ago. However round about the same time I filed a complaint against one of the Borrowing Management Team...

 

Is this a case of revenge?

[incipience]

Manage to speak to some arrogant Piers Morgan at Egg Borowing Management and I have to say its an experience I never want to live through again..

 

This EGG is getting scrambled.!!!

 

Question. As the account is still open. Should I continue to pay? either way I am screwed for the next 6 years for credit.

[Glenn UK]

I think what you need to do is sit down for five minutes and plan out where you want to go.

 

First off you need to be very clear exactly what you did do, was it one or two payments you missed?

 

Did Egg send you a default notice?

 

What exactly is on your credit file?

 

Ultimaly you need to as far as is possible fight them on a legal basis. Arguing the toss and enidng up in court with a CCJ against you will only make your life more difficult.

 

Unless you have a legal basis for disputing the loan IMHO you should continue to pay.

 

If you are having problems with debt get some help to resolve the issues or get a dmp in place.

 

JMHO

 

Glenn

[incipience]

No default notice from Egg. Missed 2 payments but account is up to date and has been since alleged default issued.

 

Credit File shows, Default Issued last year. The Credit File has not been updated since default notice and shows account is Delinquent and the Delinquent amount has not been updated since last year also.

 

Have made 2 request and 2 complaints to remove the default, but Borrowing Management Team States it is justified and they will not remove.

 

Had a bit of a shouting match with that very team last year, and filed a complaint about a member of staff, since then they have been hostile.

 

 

I fully intend to pay, but I do fancy my chances letting it go to DCA and negotiating a reduced settlement on the proviso Default is removed.

 

I have decided nothing and would prefer that EGG remove the Default, but to be honest I really think they will stick their heels in on this one, therefore I have no choice but to go on the attack, get the contract terminated and then file suit against the CRA and get all related transactions with EGG removed from my file.

 

Believe me.. I have tried to reason with them, but I truly feel that this is personal.

 

The charges on my account are not much as only 2 returned DDs, this was all around the time I changed banks, I can afford to pay, but circumstances beyond my control caused banking issues to which EGG became Collateral Damage.

[Mistermind]

The Egg being internet-based never send out hardcopy letters or monthly statements. I cannot remember ever getting paper from them until I started claiming refund of charges. They never write, they only text to mobiles.

 

It's possible they sent a Default Notice to your Egg Card emailbox. Possibly if you hardly ever logon, this notice may have dropped out the bottom from age?

 

Have you thought of writing a HELP letter to the Sunday broadsheet Financial doctors. One letter from them works miracles, or Egg's name will be rubbished in print. Or doesn't Egg care.

[incipience]

Thanks for the advice I may give that Sunday Broadsheet Financial Doctors a Chance.

 

I have since requested a full and signed copy of the Default notice and standard S.A.R - (Subject Access Request) via Registered Mail.

 

Also Stating:

Default notice you served on my account does not comply with the consumer credit enforcement, Default and termination notices regulations 1993 as under said act you must inform me precisely what had been done wrong and what was needed to put matters right. Therefore Under s.88 (1) of the Act there is a requirement that you should 'specify' not only the nature of the breach, but also what action is required to remedy it.

 

I can find no correspondence or notice of this default being applied, as far as I am aware the account is up to date and therefore the default notice should be rendered ineffective.

• You must supply me with a true copy of the agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit). Your obligation also extends to providing a statement of account.
  
• You must supply copies of every financial statement on both my Egg Card and Egg Loan
  
• You must supply me with a signed true and certified copy of the original default notice via registered mail.(payment enclosed)
  
• Under Section 157 of the Consumer Credit Act 1974 you must supply myself with the name and address of all credit reference agencies in which you share my data with and whom have supplied you data about myself.

Just a snippet of the 3 page letter I have sent this morning.

 

I have to say that its not a nice feeling, afterall if it was justified I would put my hands up and say fair enough. But I kept them abreast of the change of banks every step of the way and as it was not resolved I made Debit Card Payments for the missed months.

 

As I said, I think this is more personal, and no I am not being paranoid.

 

When someone tells you "I don't want to sound arrogant, but the way you have handled your account is a discrace"

 

What's so much of a discrace that I missed a couple of payments and my account is up to date? to be honest the guy I spoke to was really Arrogant and would not let me get a word in.

 

What really ****es me off is that I made a complaint and the complaints department just accepted what the Borrowing Management team said and closed would not accept the complaint, the whole turnaround was 24 hours from time of making the complaint to the time I was told they would not accept the complaint.

 

I am in this for the long haul, I have nothing to lose now either way I am screwed. I can of course sit back and accept it, wait six years for the default to come off, or I can fight this with every ounce of my being the worst that could happen is that the default remains.

 

If I have to write a letter to every department, ombudsman, politician believe me I will do what it takes to expose this injustice. Time and Money I have, I just need to stay focused and any assistance from the members here will be appreciated and rest assured I will keep you up to date if interested.

[Mistermind]

I agree, Egg staff are not only a disgrace, they are every bit a discrace too. This selfrighteous arrogance unlike any other institution could be that they have far less contact with their customers, as they do not as a rule write or read letters.

 

The so-called secure emails sent and received on their own website only, is a real disincentive for customers to use. So contact is reduced, and not enough customers get the chance to complain, Egg staff unlike in other credit cards, do not get told often enough that they are a discrace, and so eventually grow too big for their boots.

 

This rotten Egg needs to be taught a lesson in civility.

[incipience]

Well as I am a prudential shareholder and pension holder I think its time I exercised my shareholders rights. Time to bypass the Gimps at Egg and Take this one to the top. The Egg Staff work this 9 to 5 and have many other like minded cases to deal with, I am happy to put in 16 hours a day 7 days a week to boil this EGG.

 

The complaints process is a sham, reminds me of an old boys club "quid pro quo"

[incipience]

Heres one for you all to ponder.

 

They recieved my letter today.. and they have just sent me an email

 

Stating:

we're increasing the APR on your card from 15.9% to 21.9%

 

(my default is on my loan) card is fine and totally up to date.

 

 

[Mistermind]

Heil, EGG.

[Stopthethieves]

The big issue surely is that a default renders the account unusable.

 

Is the account still active???

 

Regards

[incipience]

The default is on the Loan Account.. and still an active account.. Still Paying Contracted monthly amount and still paying interest.

 

The interest hike was on my UNRELATED Egg Card which is up to date and payments on time for over 5 years.

 

Its Revenge on their point, pure and simple.

[Stopthethieves]

Oh right, I suppose it depends on what ACTIVE actually is cos you obviously have to repay the debt.

 

However if it was the credit card and you could still use it, they'd surely be shooting themselves in the foot.

 

I myself have been in touch over 2 loans to egg. One sold off and the other out to a DCA.

 

Account with the DCA settled BUT Egg told me they had sold it!!!

 

They haven't got a clue!!!

 

Regards

[incipience]

Yes I have to repay and I am repaying. Just a coincidence I guess that on the day they get my Data Protection Act S.A.R - (Subject Access Request) and CCA notifications they hike the price of my Credit Card Interest which now means I have to pay the higher rate of interest on my outstanding balance. The whole thing stinks of abuse of their position.

 

Have drafted a letter to the OFT to that effect including copies of all Telephone calls and Screenshots of Secure Messages and of Course Recent correspondence to which I believe had led them to this blatant attempt of "One Up Man Ship".

 

However they may be a large company and I have no fears on taking them on, if they think that I am going to rollover on this one, they have underestimated me.

 

I really dont care if it takes years but rest assured the more they try to make things difficult the more they expose themselves; at which time they are bound to make a mistake.

 

I am glad they have done this to be honest as I am sure any decent judge will see this for what it is.

 

Monthly payments have now appeared to have doubled, imagine if I was in financial difficulties and they pulled a stunt like this.. sad and very unethical.

[Tinkerbelle]

I have decided nothing and would prefer that EGG remove the Default, but to be honest I really think they will stick their heels in on this one, therefore I have no choice but to go on the attack, get the contract terminated and then file suit against the CRA and get all related transactions with EGG removed from my file.

 

I would suggest that you take the fight for removal using legislation against Egg as opposed to the CRA. It will be a lot easier than trying to get the CRA to remove it directly. Just my opinion

 

Once your contract with Egg has ended - you can withdraw your consent for Egg to furnish the CRA's with your data. It's the law

[fuzzyfuzzy]

your interest increase was a coincedence. It was a time ALL customers rates were reviewedusing RBP (risk based pricing) you have bad credit and so obviously are more risk in missing payments and defaulting etc ...... Oh! ive just realised youve already done that

[fuzzyfuzzy]

Also, you dont state what 'out of your control financial problems' you had. You clearly didnt keep egg updated as a feature of the loan is that you can have 3 payment breaks a year (that can be consecutive) to help ease pressure on 'out of your control financial problems'. If you had of told them you could have just missed 3 payments without any problems with egg. They would prefer you do that than have to deal with the admin of you complaining

[vinegarvera]

Subbing

[wiggins]

Please someone correct me if i'm wrong but a default means:

 

Quote from experian : the account is defaulted. You have failed to keep up your credit agrrement and have not responded satifactorily to request to put your account in order. As a result the credit agreement has ended.

 

So why is your account still active and why are you still paying it?

[andabar79]

Subbing

 

what is the update here?

[incipience]

Sorry for the Late Update. But EGG overturned the DEFAULT. and returned my account to good standing.

[Mistermind]

Publicly registering a Default wreaks havoc with credit rating, and legally can only be done after issuing a Warning Notice enabling late redress of the situation. You were defaulted after missing merely two months payments, and defaulted without being notified. Your campaign first reported on 29AUPG2006 has taken 2 years and 5 months(?) to restore justice, so a huge black mark for Egg management.

 

Very well done to you for seeing it through outfacing hard men and hard women. I have reported this success on the thread "The only Egg DN ever rolled back." There are now 3 cases reported, so I shall ask the Mods to amend the title.

 

Very proud of you.