EGG loan sold to arrows

[Happyhippy1959]

Hi Guys and gals

 

Just got home from a 14 hour shift at the Hospital and find this bad-boy on me door mat. Nice green egg envelope.

 

My question is, have Arrow purchased the said debt or are they being employed to apply the muscle. I thought I was paying my token payment to this by SO but after a statement yesterday checked on line banking and found a digit wrong. So put in three pounds for the months missed (could ill afford) but hey.

 

Another one is I have 40k of unsecured debt and all have accepted a token payment. Now I know these bully boys will try and strong arm more probably with a CCJ, this loan was taken out in 2008 so no chance of any thing a miss. Best way to defend, just say all I can afford do your worst ?????????????

File0001.PDF

[rebel11]

The guys will be happy to advise as soon as they are available.

[Crocdoc]

The problem you will have with 40K of debt is that the creditors will only accept token payments for so long and then they will most certainly come back at you.

You may of course be able to substantially reduce the debt if for example PPI was included. The return of charges is also a possibility.

 

Whether or not the debt has been sold is somewhat irrelevant in this situation.

 

 

The alternative is to look for a way out, however that would very much depend whether or not you are a homeowner with equity or alternatively have other assets.

 

 

 

If you have found my post helpful please click the star to the left of my profile –

 

 

Thank You

 

 

[citizenB]

Interesting cos I thought all Egg cards had been taken over by Barclaycard. But perhaps only those where the card/accounts are being serviced in full.

 

Yes, this is a Notice of Assignment and you should hear from Arrow Global proper, soon, I would say. If there was an arrangement in place with Egg then AG should accept that arrangement. So for the minute, I wouldnt worry too much. But as already advised do look at whether you had PPI or any charges that could reduce the amount owed.

[The Debt Star]

Indeed mate, my Egg loan balance was reduced by a third because of PPI, interest and charges. Send them a SAR and do some digging around buddy.

[BRIGADIER2JCS]

1st Arrow Global

2nd Fredrickson International

3rd Brian (lets sue everybody) Carter ''solicitors''

Welcome to the magic round:madgrin:about

[Happyhippy1959]

Hi guy's thanks for your quick advice. Yes Arrow wrote next day,,, repayment stays in place... hmmm. unfortunately this little loan was only taken out in 2007 only a small amount, no ppi all above board.

 

Yes a £1.00 is all I can afford as I have the house and Secured Loan left for my to pay on my own by Mrs ex-hippy. And yes I know they will come back at me but hey this is now 2.5 years I get a review every six months or a year. But at the moment they must be doing a roaring trade with this economic climate. No equity in the house or else I would have flogged it two years ago when she left. Bankruptcy is my only option left, but will hold off till I either stop paying for house and let them repossess because when I go down that route I want a complete clean break... I know that any shortfall will be included in the BR.

 

I am 52 years of age and to tell you the truth I don't care if I never see another Loan, credit card or mortgage in my life..... For 30 + years kept a clean slate paid all my debts on time etc etc,, my God how those bad-boys change when you miss a payment.

 

Never mind,,, I will slog on till I can pick up the courage to say enough is enough, take the house back and do your worst. Mrs ex-hippy buries her head in the sand but as I keep telling her its a joint mortgage you are liable...

[BRIGADIER2JCS]

Take heart Hippy, they can't have what yo ain't got so it's:rockon:

[Happyhippy1959]

Thanks Brig, my thoughts exactly,,, if some muppet of a DCA buy's a debt of some one who is say 65 + and on benefits or a small pension then they know they are never going to get it back.. the saying that greed gets the better of them rings true.... If a £1.00 is all I can afford for the rest of me natural then guess what,, a pound is what there getting... I would rather sell this house as soon as I can break even than to pay those vultures anything more...

 

An unsecured loan is exactly that,,,, they took the risk,,, tough in my opinion... if I win the lottery then hey,,, happy days for both me and my creditors, what about the billions these bustards lost,,, will they have to pay it back to the tax-payer...NO NO NO

[The Debt Star]

Hippy mate, you aint alone and btw really appreciate your honest 'sod 'em all' attitude. good for you man.

 

try and keep your house as long as you can though mate. renting can be ****ty and its a hard road back and at 52 it'd be even harder. try and do wahat you can to stay in the house dude.

 

keep on truckin'

 

DS

[Happyhippy1959]

Thanks Debt star,,, I know renting is not what I am looking forward too.... Will try my damn hardest but hey,,, all the cards seem to be stacking against me... out next week looking for some extra work as my employer after 15 years as decided to pay me only flat rate for any overtime... they can shove that where the monkey puts his nuts. Rather clean toilets at Tesco's than back down on that one.. Lucky as I work three long days at our local hospital so give's me Monday - Thursday to try my hand at a part-time job or did what I did many years ago,,, had a nice little cleaning business going,,,,, windows, little offices etc.... hmmmm like challenges.

 

Yep, will do Dark - Star,,, YOUR SO RIGHT, IT'S A LOVELY THREE BEDROOM HOUSE, EVEN HAVE ME OWN GYM IN GARDEN....

 

Think positive hippy .............. must light up me herbals ....................

[The Debt Star]

If you can't you can't, at least you've done your best dude. Just fight to them to the last breath man! Don't lest the barstewards grind you down.