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Egg Default Notices.

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  • Egg Default Notices.

    Opinions please as to wether the following statement on Egg D/N's could be taken as giving you less than the statutory 14 days from service to rectify.


    "When making a payment into your account by debit card, the payment will be applied as soon as we receive the funds from your bank. When paying by cheque, the payment will be applied within eight working days of us receiving the cheque."


    The way I read this is that they would acknowledge receipt of payment only when the funds were cleared?
    Tags: None

  • #2
    Re: Egg Default Notices.

    Don't know TBH Fluffy, but if its by Egg then it must be dodgy.

    Comment


    • #3
      Re: Egg Default Notices.

      Originally posted by fluffystuff View Post
      Opinions please as to wether the following statement on Egg D/N's could be taken as giving you less than the statutory 14 days from service to rectify.


      "When making a payment into your account by debit card, the payment will be applied as soon as we receive the funds from your bank. When paying by cheque, the payment will be applied within eight working days of us receiving the cheque."


      The way I read this is that they would acknowledge receipt of payment only when the funds were cleared?
      Unfortunately I think thats correct. You could send cheques that bounce. But egg get up to all sorts of tricks like defaulting you if you try to pay early instead of by the DD date so they force you to pay more interest than you need to. then they charge you for not paying by dd. Its effectively theft.

      QCK

      Comment


      • #4
        Re: Egg Default Notices.

        Originally posted by The Debt Star View Post
        Don't know TBH Fluffy, but if its by Egg then it must be dodgy.

        :lol:

        Comment


        • #5
          Re: Egg Default Notices.

          QC I like the cut of your jib!
          Egg are indeed sheisters.

          Comment


          • #6
            Re: Egg Default Notices.

            My reason for asking is that the D/N does allow more than the requisite time to rectify, unless you deduct the time required for clearance of funds.

            Also, I believe that I've read somewhere that the way they calculate their APR's is debatable as for example, they don't /didn't include the fee for cash withdrawals when calculating. :tinysmile_hmm_t2:

            Comment


            • #7
              Re: Egg Default Notices.

              Hi all,

              Advice needed please.

              Fredrickson's (who say they are acting for Egg )have recently sent copies of agreement and statements.

              1. I note the agreement only states the APR which I believe is not sufficient for cash withdrawals as these incur a 1.25% fee, thereby making the APR quoted inaccurate?
              (The monthly rate at inception is 0.371%, APR 4.5% - do these rates tally?)

              2. The D/N arrears amount includes penalty charges and if we had forwarded a chq allowing 8 working days for clearance (as Egg require) we would not have had 14 days to rectify.

              3. The account was terminated in June 2010 (whilst in breach of s78 request) and charged off in Nov 2010.

              My question is, are any of the above 'enough' to challenge the enforceability of this debt or as I suspect, should we begin negotiations for a F&F?

              Currently awaiting a response to SAR

              Opinions gratefully received.

              Comment


              • #8
                Re: Egg Default Notices.

                On the subject of Egg generally, if anyone else has had their Egg loan sold to Arrow Global I would be interested to know.

                I have just received an alert saying that Egg have marked my deafulted account as "settled" with the CRAs and assume that I should now be expecting to see a second, fresh, Default appearing from Arrow shortly.

                The Egg Default was due to drop off next year so this looks like a cunning way to refresh the adverse data?

                Comment


                • #9
                  Re: Egg Default Notices.

                  The Egg Default was due to drop off next year so this looks like a cunning way to refresh the adverse data?
                  cunning, possibly. Legal and correct? No.

                  Im assuming you mean egg have marked the default as satisfied, but have sold on the remainder of the debt to a third party?

                  I had a DCA do just this to me years ago - the OC defaulted me then the DCA 'bought' the debt and registered a new default from the date they bought the debt. It was their error and the CRA's made them update the default to the correct date.

                  If egg defaulted you, any default from any other company that buys the debt *must* have the same date of default as the original default that egg logged. Dont let them screw you over
                  Advice given is offered as personal opinion only. I always recommend you seek professional legal advice.

                  Negative, I am a meat popsicle

                  Comment


                  • #10
                    Re: Egg Default Notices.

                    Good advice Shamen. I have found that Egg - and anyone that does business with them - behave in a devious and underhand manner.

                    The whole of the outstanding debt was sold to Arrow. Despite being on an agreed repayment plan and me keeping up all repayments. I know that's not relevant, but it shows what complete ****s Egg are.

                    You are saying, i think, that I can now expect to see filed a "Default - Settled" account from Egg and a new "Default" account from Arrow on my CRFs?

                    You got the latter Default to have its date changed to the date of the original default. Presumably after months and months if complaining and a great deal of hassle?

                    If the dates get changed to the date of the default then both the "settled" and the fresh "default" accounts will drop offnext year.

                    I clearly need to keep on top of this.

                    Comment


                    • #11
                      Re: Egg Default Notices.

                      yup, they will need monitoring to make sure they do it right. Sometimes a DCA will just update an existing default. Other times they will put a new default and remove the OCs default. In rare cases they put a new default, with a new default date and leave the OCs default too.

                      It took about 2 months for me to get the situation fixed when it happened to me.

                      There should only be one default per account, regardless of who its sold to. So while the OC may update their default to 'settled' the company buying the debt should technically have that default updated to the new information from them (but cannot change the date of default)
                      Advice given is offered as personal opinion only. I always recommend you seek professional legal advice.

                      Negative, I am a meat popsicle

                      Comment

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