Arrow have taken over Egg Loan

[BRIGADIER2JCS]

It's pathetic how these account get passed

around I wonder how many go full circle

and end up where they started.

[The Debt Star]

I've been working on a theory that DCAs can be kicked off the market place by debtors paying the OCs direct, whether they want to use a DCA or not. Egg wanted to use CapQuest and refused me details of their account number. On one of these forums I got that info and just started paying them direct regardless and ignored CapQuest. I told Freds to pish off and carried on paying Egg direct when the bank instructed them to come after me and now Egg have sold the account to Arrow I am determined to pay Arrow and not Westcot. So far, so good.

[BRIGADIER2JCS]

Keep at it DS:madgrin:

[The Debt Star]

Brig, you there mate?

 

I've just had an equifax alert telling me my long-term defaulted Egg account has been marked "settled." As the sum of £5K ish was sold to Arrow Global, presumably this just means that as far as Egg are concerned the debt is "settled" hence the amendment to my CRF?

 

Does this mean that Arrow can file a brand new Default on my CRFs for the debt they purchased from Egg? ie its a diferent account, new owner (same debt of course) but allowing them to file a fresh 6 year Default?

 

If this happens, what should I do about it? The ICO are as useless as a wet blanket.

[The Debt Star]

Also, of course, the AMOUNT they claim is settled is in dispute as they (Egg) still owe me £1K+ in PPI and interest!

[BRIGADIER2JCS]

Hi DS

There can only ever be one default, the

next alert will be Arrow up dating the

file with their name.

The next lot maybe Fredrickson, followed

by Brian Carter.

 

Keep on the PPI case as a separate matter.

 

 

Brig.

[The Debt Star]

Ok thanks, but then why have they marked it as "settled"?

 

It did also occur to me Brig that what they are trying to do is get the 6 year clock ticking from the date "settled" (by Arrow) and not the date it defaulted 5 years ago?

[BRIGADIER2JCS]

Settled because Arrow have paid a few pence for

it so it's off one mobs books and now on theirs.

 

The default date remains the original one and will

just be updated by Arrow with their name etc.

 

Brig.

[The Debt Star]

Rofl, what a joke. This email just in from the FOS ref my Egg loan sold to Arrow during a dispute over PPI:

 

"I have received an e-mail from Egg late last week and I have spoken to them again today.

 

"They are in the process of trying to calculate the refund but unfortunately by moving the account to Arrow this has only made it more difficult.

 

"I will phone them again next week and will persist until the matter is resolved although I appreciate fully your frustration."

 

[BRIGADIER2JCS]

Hi DS, a little progress at least,

ICO actually making a reply.

[The Debt Star]

Truly, but the assignment of a debt in prior dispute by Egg to Arrow is now causing THEM problems in calculating my PPI refund and interest - and will also presumably complicate things for both Egg and Arrow as the balance sold by Egg was for the WRONG amount.

[BRIGADIER2JCS]

Lets hope it comes out on the high side:madgrin:

[The Debt Star]

The FOS have allegedly telephoned Egg and asked them to take the account back from Arrow. Their response was "no."

 

I have now requested at least half a dozen times a copy of any letter sent by the FOS to Egg regarding the assignment to Arrow and am being stone walled by them. Iwould like this for round 2 when the dispute with Arrow kicks off ref the claimed balance.

[The Debt Star]

Brig: Any tips on makimg a F&F to Arrow on the circumstances of this particular case? I would like to offer them a % of the debt but based on the TRUE balance ie with the extra PPI taken off that Egg SHOULD have arranged prior to the assignment but didn't.

[BRIGADIER2JCS]

Whats the balance less PPI/charges??

start I suggest 15-20 % to give you

room to negotiate, must F & F no sale

or assignment of outstanding balance

and CRA file cleared.

[The Debt Star]

less PPI b/l is iro £4500. With PPI iro £5600.

I was thinking of 40% with an upper limit of 50% as I'm not out of work or paying £1 pcm or anything.

Yes, do need to prevent sale / assignment of balance in offer and would need that in writing from them?

As to CRA file cleared, do you mean marked settled or removed entirely from CRFs?

[BRIGADIER2JCS]

Hi Ds, I'd start then at 25% of the balance less PPI,

and you must get the written agreement for not selliing or

assigning the debt to a third party, as to CRF ask for complete

removal, bit are under no obligation to do it if that's the case

opt for settled.

 

Brig.

[The Debt Star]

cheers m8.

[mrman101]

IN the DRA industry Arrow are known for their settlements, and are actually one of the quicker ones in getting things resolved. Arrow are a seperate outfit to Fredricksons. In my oppinion (may be wrong) you want to use the fact that ppi is still in the balance to your advantage. Use that as a method of dispute, therfore giving them a reason to settle on the best terms, Always start low, just as they will start high. The lower you start, the lower the middle ground is.

[BRIGADIER2JCS]

ALL the companies in the title of this thread inhabit the

same small area of the country and have been the unholy trio

for many years.

I will agree that arrow are quick to settle, and quick to remove

defaults and contested entries on credit files.

[mrman101]

Arrow are a top client of fredricksons group, and they have been known to go hand in hand

[BRIGADIER2JCS]

Any news DS:?:

[The Debt Star]

Not yet Brig, on the F&F. I only sent the F&F at the weekend.

 

Ref the PPI and assignment of a prior disputed debt issue, the last i heard was from the FOS as posted above at #76.

 

Amazing how badly Egg have conducted themselves throughout this saga, which, in total (including the original PPI dispute) has been going on for 18 months now. Despite an adjudication in my favour Egg have tried to do one over and its stalled completely now they've assigned it. The FOS adjudicator is way too soft on them and I will shortly have to go to the Indp assessor I think...

[BRIGADIER2JCS]

Just me being a bit previous DS:madgrin:

They do seem to make the right decisions

but then lack the will carry out any sanctions.

[The Debt Star]

I have sent a formal complaint about the FOS by email and asked for the adjudicator's line manager details. Then its off to the Indp Assessor if I don't get a response or that response is yet more piffle and faffle. Having looked at the IA's website, it seems she can order the FOS to re-open a complaint and look at it correctly, if she deems their service standards are poor enough.