Egg Loan details correct?

[Master Chief]

Hi All,

 

 I have discovered a issue with an Egg loan that I've been paying off since forever and I think they have stuffed me on the starting balance.

 

Getting to the point of my post, I took an Egg loan for £4000 in February 2001, paid it for 7 months before becoming unemployed and defaulting on the loan.

Much happened at this time and I ended up moving a lot as well as being technically homeless.

 

I finally got settled and entered into an IVA with Eversheds for £5.00 per month in June 2005 and have since been making payments.

 

My issue is that having paid over £2,900 the balance is still in the region of £3,147.86!

 

I DSAR'd Egg back in 2011 and have the information in the attached PDF.

According, to their own information they defaulted me 29/04/02 when the balance was £3,697.39 and marked non-acrr.

The balance remained the same, or at least no changes shown until 20/11/02 when a £60 "Waive Fee" and £226.04 "Bad Debt Charge Off" fee increasing the balance to £3,983.43

 

Next change is when the loan account is sold to Arrow and the balance becomes £4,859.43!

 

Opinions and advice very welcome!

 

 

 

EggLoan.pdf

[dx100uk]

 

thread retitled and moved to the EGG forum

[Andyorch]

Accounts currently being merged to Master Chief 

 

The balance owing is  £3,697.39  less £2,900 payments.......no such terms as a £60 "Waive Fee" and £226.04 "Bad Debt Charge Off" and a DCA cant add a penny.

[Peterbard]

Hi

 

Have you received any monthly statements for this account?

 

Dont worry its very unlikely they would be able to enforce anything.

 

I mean any more statements, they cant charge any more interest if they have not. CCA 77a?

 

What happened to the IVA? Are you now on a DMP

[dx100uk]

Send them a cca request.

Dx

[Master Chief]

@Peterbard

 

There are some statements I'm sure, what's the relevance?

 

I say an IVA, I just agreed to pay them £5 per month to start which has increased along the way. All can be seen in the linked PDF posted earlier.

 

Hi @dx100uk, I thought the CCA was page 1 & 2 in the linked doc, provided to me by Egg as part of the DSAR.

 

May I ask why a CCA request is the way forward to challenge the balance?

 

thanks.

[dx100uk]

if arrows don't have an enforceable agreement..

keep what egg provided years ago to yourself

 

thread tidied

 

as andyorch says..your balance is about £700 if that's even true

 

 

[Peterbard]

If it was an IVA it would have effected your property. Easy to get in not so to get out, whereas an agreed arrangement you can just walk away

 

Yes it seems to be. These were challenged in  appeals some years ago, because the term for Total Credit read "Limit" or some other . There were also other prescribed term issues, sadly it failed, and I dont think they have been challenged since.

[Master Chief]

@dx100uk @Peterbard

 

Thanks for your advice chaps, much obliged. I will CCA Arrow and see what they come back with.

 

Cheers

[honeybee13]

Thread reopened.

 

HB

[Master Chief]

Thank you.

 

I requested the CCA and promptly received a reply, stating that they no longer charge for CCA requests and included my £1 postal order.

 

My original request was sent 25/11/21 as yet no CCA or further response.

 

What now?

 

[Master Chief]

It is now over 4 weeks since my CCA request and nothing has been received. Where do I go now?

 

Thanks

[Andyorch]

Nowhere.....you requested it they have been unable to comply.....they are therefore in default of your request and legally unable to enforce the agreement in a court of law.

 

Andy

[dx100uk]

Ignore them now totally until or unless they send a letter of claim with a reply pack

[Master Chief]

Thanks fo rthe relpy @dx100ukBut I still have a standing order, which has been paid from inception of our arrangement. Are you saying that I should cancel this and stop paying?

 

My thoughts were more along the lines of complaining to the FOS about the ilegal charges.

 

What's my end game by ceasing payments?

 

 

[dx100uk]

What!! 

 

you should have stopped paying the moment arrows failed the cca time limit...18 mts ago+ do you not self help and read up here rather than being a dca cash cow?

 

Dx

[Master Chief]

@dx100ukSorry, it's been a long time since I have trawled this forum and I clearly need a refresher. They are actually only 4+ weeks overdue with the CCA, I didn't send it until Nov this year, but obviously they are still in default.

 

 

I kind of thought, remebering old threads on here that the whole challenging CCA's in court was dead, due to judgements being made more on balance - does the debtor actually owe it? Rather than missing/incorrect terms.

 

I'm not trying to avoid anything, just ensue that the balance owed is correct. As it stands, they are asking for double bouble and no way am I paying that. The balance corrected will mean the finish is in sight and manageable.

 

If the route that you are all suggesting is a way to achieve that then I'm game.

 

Thanks to all that have comented and helped so far.

 

Edited December 30, 2021 by Master Chief

[dx100uk]

simply cease payment until/unless they comply or send a letter of claim.

 

stop being a dca cash cow.

 

they seriously have zero legal powers... 

[Master Chief]

Standing order cancelled, I'll be back when I hear from them.

[dx100uk]

ignore everything until or unless they reply to your CCA request or you get a letter of claim.

 

well done on eventually realising your were being cash cowed by a powerless DCA...