MadMaxCTR V Egg ***WON***

[madmaxctr]

Okay

I finally received my old statements and report of transactions from Egg yesterday. Have a total of £220 of charges to claim back.

Preliminary request for payment sent off today.

I’ll keep you all posted.

MadMaxCTR

[madmaxctr]

Need some help please?

I'm seen about this contractual interest we can claim on these credit card claims but firstly how much is it for this card and has anyone got a linky to explain a bit more about it and finally anyone got a Egg spreadsheet for doing this.

Ta

MadMaxCTR:cool:

[madmaxctr]

Need some help please?

I've seen about this contractual interest thing we can claim on these credit card claims but firstly how much is it for this card and has anyone got a linky to explain a bit more about it.

Finally anyone got a spreadsheet for doing this.

Ta

MadMaxCTR

[Mistermind]

Contractual Interest based on the principles of mutuality and reciprocity has already been dismissed in the High Court with precedent set (see Hippo thread).

 

What can be claimed back are the monthly debit interest items ACTUALLY accrued on the unlawful charges, i.e. if after charges were levied you then paid off your entire card balance, then from that point on no further debit interest accrued on your unlawful charges, so none would be reclaimable.

 

Debit interest flucutated from month to month, so to disentangle the lawful interest accrued on your purchases from unlawful interest accrued on your charges, you will need to multiply your accumulated unlawful charges and unlawful interest to date, by the interest rate applicable on the month in question. There are various excel spreadsheets on the site, e.g. check threads started Vampiress. I would no longer rely on such spreadsheets, as you need to make sure each month the computed theoretical debit interest was PHYSICALLY, ACTUALLY levied on your account. Say if £220 charges levied, but only £100 debit balance at May 2007 monthend, then for that month only £100 accrued interest. If that £100 was made up by £60 new lawful spending, then only £40 charges accrued interest in May 2007.

 

With charges at only £220 it is doubtful if too much effort is worthfhile. The answer need not be 100% accurate (nobody can get it 100%), it is unlikely Egg will dispute any tiny discrepancy.

 

(Charges + interest) reclaimed, when it reaches court and is upheld, then the court will add 8% Statutory Interest. You can say as much to Egg. If Egg refuses to pay SI, then you can say, see you in court (at some inconvenience and cost to yourself). It is unlikely Egg will fight. In recent months they quickly accede, so long as you use the template reply from moc1982 thread, when they say "they have complied with reduction to OFT threshold £16, where is your evidence of unfairness?"

 

GL

[madmaxctr]

Letter received from Egg dated the 26/07/07 making a partial offer.

Appears to be their standard response where they mention that they’ve lowered their charges down to £16 so they’ve offered me £44 (the £4 difference X the 11 charges).

Secure email sent

“Thank you for your letter dated 26th July 2007 regarding my request for repayment of charges.

 

I have great respect for Egg's Genuine Pre-estimate of £20, great respect for Egg's Genuine Pre-estimate of £16 and great respect for all future Genuine Pre-estimates that Egg provide.

 

As a former cardholder I cannot help wondering, if after many years in business Egg has ever tried to reconcile Pre-estimates against Post-event audits. I am confident that a company devoted to justice and truth like Egg will not withhold evidence from the cardholder, that Egg will present evidence in court to show after-the-event costs, as well as before-the-event Genuine Pre-estimates. Therefore I intend to file a claim for the £220 charges and I hereby reject the £44 offer which you made in your previous correspondence.”

[Mistermind]

cool

[bobtail]

LOL thats a great letter Max I hope it works for you

[madmaxctr]

Unfortunately i can't claim credit for that.

 

I beleive i nicked it off Zubo. He had the same offer from Egg ( you know the difference between their old charge and the new one) he sent that letter via the secure email and had an offer for full settlement in two days.

 

Fingers crossed.

[madmaxctr]

Referred to the FOS now.

[steven4064]

Let us know what they come up with

[madmaxctr]

Let us know what they come up with

 

Will do.

 

If its anything like what they did for me on Max V Lloyds TSB, i'll have full settlement with interest in a few weeks.

[madmaxctr]

Settled in full without any litigation.

 

Offer letter came days after i wrote to Eggy telling them i had referred the case to the FOS.

 

MODS - please adjust my title to *****WON**** and move me to the successful egg claims folder.

 

Ta

 

MadMaxCTR

[steven4064]

Madmax

 

CONGRATULATIONS!

 

Well done for hanging on in there.

[HSBCrusher]

a very well deserved ***won***

 

Crusher