Egg Loan Transferred to Arrow Global

[The Debt Star]

Had a letter in the post today from Egg. My first in 12 months. I think its a notice of assignment to "Britannica Recoveries S.a.r.l, t/a Arrow Global Receivables Mgt Ltd."

Anyone heard of this shower?

Background: I defaulted on this loan in 2006 and entered a CCCS DMP with Egg which CapQuest administered 'til 2010. In 2010 I complained to the FOS about PPI and this complaint remains unresolved as Egg have failed in their duties to pay the compensation and provide PPI calculations etc. The FOS are presently chasing Egg on fulfilling the adjudication - which has only partly been done despite it dating back to March 2011.

I am paying Egg £20 pm at present, on an affordability basis.

Any suggestions as to best tactic / approach to take?

Obviosuly I'm worried that Arrow will start getting heavy and harrassing me, just like CrapQuest used to.

[Never-In-Doubt]

Re: Egg Loan Transferred to Arrow Global

Mate basically the parent company (Britannica) is registered abroad (handy eh?) so in order to collect in the UK they need a UK licence thus they trade as Arrow Global - the same Arrow Global that pursue Egg, barclays, Lloyds, MBNA.

This bunch of muppets here: ---> Arrow Global - Debt sale process

See this

[Never-In-Doubt]

Re: Egg Loan Transferred to Arrow Global

Had a letter in the post today from Egg. My first in 12 months. I think its a notice of assignment to "Britannica Recoveries S.a.r.l, t/a Arrow Global Receivables Mgt Ltd."

Anyone heard of this shower?

Background: I defaulted on this loan in 2006 and entered a CCCS DMP with Egg which CapQuest administered 'til 2010. In 2010 I complained to the FOS about PPI and this complaint remains unresolved as Egg have failed in their duties to pay the compensation and provide PPI calculations etc. The FOS are presently chasing Egg on fulfilling the adjudication - which has only partly been done despite it dating back to March 2011.

I am paying Egg £20 pm at present, on an affordability basis.

Any suggestions as to best tactic / approach to take?

Obviosuly I'm worried that Arrow will start getting heavy and harrassing me, just like CrapQuest used to.

Chase the FOS for resolution..... in the meantime send a letter to Arrow explaining you're disputing the account and as such you have nothing to say, you're paying the Original Creditor £20 pcm and if Arrow are not the legal assignees, then to give you their bank details to arrange to pay them the £20 until such time the FOS Adjudicatesa resolution over missold PPI.

That ought to buck them up a wee bit

[The Debt Star]

Re: Egg Loan Transferred to Arrow Global

Chase the FOS for resolution..... in the meantime send a letter to Arrow explaining you're disputing the account and as such you have nothing to say, you're paying the Original Creditor £20 pcm and if Arrow are not the legal assignees, then to give you their bank details to arrange to pay them the £20 until such time the FOS Adjudicatesa resolution over missold PPI.

That ought to buck them up a wee bit

sorry mate, I ask Arrow for their bank details? pay Arrow then and not continue paying Egg? Shouldn't I pay Egg until the FOS resolve the PPI?

[Never-In-Doubt]

Re: Egg Loan Transferred to Arrow Global

sorry mate, I ask Arrow for their bank details? pay Arrow not continue paying Egg?

I just wrote it for you mate - what part didn't you understand?

Write to arrow with the following content - the below was quickly typed up, amend and spell check it as necessary!

Dear sirs,

Ref XXXXXXXX

I write with reference to an ongoing complaint with Egg (Original Creditor) regards to the above account.

They appear to have assigned the debt to Arrow Global, however this account is in serious dispute over missold PPI. As the Financial Ombudsman Service are dealing with my formal complaint, coupled with the fact I am currently paying Egg £20 per month, I feel your letter is unwarranted and as such will disregard the content.

If you have any queries, please do not bother writing back to me, contact Egg as I am paying token payments pending resolution from the FOS. If you persist in unlawfully hassling me I will have no alternative but to formally report your actions, to the appropriate authorities seeking clarification on your suitability to hold a consumer credit licence.

Yours faithfully,


The Debt Star

Simples, no?

[Never-In-Doubt]

Re: Egg Loan Transferred to Arrow Global

sorry mate, I ask Arrow for their bank details? pay Arrow then and not continue paying Egg? Shouldn't I pay Egg until the FOS resolve the PPI?

Not if they have assigned the debt to Arrow then no, you need to pay them.

However see my letter above, as change of plan - they cannot assign a debt whilst in dispute so technically ignore arrow exist and deal with Egg - but send that letter above off and copy in Egg as well, just so they know what's going on (remember the left doesn't speak to the right so you need to spell it out to them!)

Also copy the letter from Arrow to Egg so they have a copy of their letter and your response....

Make sense?

[The Debt Star]

Re: Egg Loan Transferred to Arrow Global

I just wrote it for you mate - what part didn't you understand?

Write to arrow with the following content - the below was quickly typed up, amend and spell check it as necessary!

Dear sirs,

Ref XXXXXXXX

I write with reference to an ongoing complaint with Egg (Original Creditor) regards to the above account.

They appear to have assigned the debt to Arrow Global, however this account is in serious dispute over missold PPI. As the Financial Ombudsman Service are dealing with my formal complaint, coupled with the fact I am currently paying Egg £20 per month, I feel your letter is unwarranted and as such will disregard the content.

If you have any queries, please do not bother writing back to me, contact Egg as I am paying token payments pending resolution from the FOS. If you persist in unlawfully hassling me I will have no alternative but to formally report your actions, to the appropriate authorities seeking clarification on your suitability to hold a consumer credit licence.

Yours faithfully,


The Debt Star

Simples, no?

Not if they have assigned the debt to Arrow then no, you need to pay them.

However see my letter above, as change of plan - they cannot assign a debt whilst in dispute so technically ignore arrow exist and deal with Egg - but send that letter above off and copy in Egg as well, just so they know what's going on (remember the left doesn't speak to the right so you need to spell it out to them!)

Also copy the letter from Arrow to Egg so they have a copy of their letter and your response....

Make sense?

Does now, yeah.

Cheers man.

[Never-In-Doubt]

Re: Egg Loan Transferred to Arrow Global

Thought I would have a play with Arrows Statement and put it into real terms, ie Layman - as I usually do...

See results below, in orange!

[The Debt Star]

Re: Egg Loan Transferred to Arrow Global

Brilliant! Rofl

[The Debt Star]

Re: Egg Loan Transferred to Arrow Global

Mornin' mateys.

Right, is this a notice of legal assignment? If not wot is it?

http://i822.photobucket.com/albums/z...1/c4a47ec9.jpg

[caspar]

Re: Egg Loan Transferred to Arrow Global

In short yes. It is an Absolute Assignment to them, so they have bought the rights and duties of the contract (hence the bit anything in your original agreement referring to we now means........).

In effect this means that any money you were paying to Egg is now paid to the new owner and the new owner can now do everything Egg could do previously (-eg- if they wanted to take you to court, they can, though they'd be stupid to IMO when you're paying).

[The Debt Star]

Re: Egg Loan Transferred to Arrow Global

Mornin' Casp. How art thou this fine morn?

Noted, thanks.

However, there is a prior dispute with Egg here so, unless I'm wrong, this is another DCA that can fox trot oscar?

[caspar]

Re: Egg Loan Transferred to Arrow Global

This is my understanding:

When you put a dispute in with the Original Creditor -

The Original Creditor has to reply to your dispute with the option of referring it to the Financial Ombudsman.

They must give a final response within eight weeks of receipt

The sale of the debt (assignment) would therefore be unlawful and the DCA has no authority to be processing your data

As long as you have proof, Recorded Delivery of your dispute or acknowledgement from The Original Creditor they are stuffed!

As I cannot find the relevant letter in the templates section I have coopied one below. Mods and Site team, if this needs deleting or replacing please feel free to do so - I just wanted to help TDS asap.

Dear Sir or Madam,

Account number: XXXX XXXX XXXX XXXX


I am in receipt of your letter dated dd/mm/yyyy. However I would like to point out that as this account is already in dispute with the original creditor and has been since dd/mm/yyyy, a breach of the Consumer Protection From Unfair Trading Regulations 2008 in line with the Office Of Fair Trading's debt collection guidelines, and a breach of the Consumer Credit Act 1974 and Data Protection Act 1998 has taken place. In short the assignment is unlawful.

My previous dispute from dd/mm/yyyy has NOT been answered.

As you are aware while my account remains in dispute, enforcement action is NOT permitted, under s127 of the CCA 1974 this constitutes a complete defence at law.

Consequentially any legal action you pursue will be averred as both UNLAWFUL and VEXATIOUS.

I would respectfully suggest that this account be returned to the original creditor for resolution of these issues, as you cannot lawfully pursue any enforcement activities.

Should you choose to ignore my dispute and attempt enforcement, I reserve the right to initiate legal action and file reports with the appropriate authorities, including, but not limited to, Trading Standards, The Office of Fair Trading, the Information Commissioners Office and theFinancial Ombudsman Service.

I hope that this will not be necessary and an acceptable solution can be accomplished.

I look forward to hearing from you in writing.

Yours faithfully,

[Never-In-Doubt]

Re: Egg Loan Transferred to Arrow Global

In light of the total assignment (absolute) do not send that letter that I did last night.

Also do not send the one above. I'll pop in before Monday, nothing to do till then anyway....

[The Debt Star]

Re: Egg Loan Transferred to Arrow Global

Ok guys but bear in mind that the FOS have already adjudicated and the bank have not fully complied with that adjudication. At the moment the FOS are chasing Egg up for the financial settlement.