Can anyone explain my Egg?? PLEASE!

[sarnie2109]

I had an Egg credit card opened on line in February 2006.
I never missed any payments and in January 2007 i wrote to them and offered them token payments of a £1 as i was struggling, they accepted these and froze the interest.
I continued to pay them and then in december 07 i received a letter from DLC to make payments to them, at the time i didn't know what was what so rang them and arranged to pay them, but they wanted £12 a month!!
I continued to pay this, struggled but never missed a payment!
In March 09 i received a letter from Fredrickson international asking for payment of this debt and then in april 09 i received a very nice letterfrom the lovely Bryan Carter telling me they have been instructed to recover the aforesaid debt, and that if payment in full was not made within 7 days they would issue proceedings including court fees of £65, solicitors fee's of £80. (talk about confuse me!)
I wrote to them telling them I had not been informed that the debt had been passed on, and i enclosed proof that I had been paying BLC.
They replied telling me that they had, referred the matter back to there client and the account was placed on hold.
I asked for any documents they held and bless there cotton socks, they sent me all my statements and a CCA.
I wrote to DLC in june asking what was going on and they replied by telling me the account had been passed back to Egg.

I have not heard from, Bryan Carter, Fredrickson international or Egg since even though i have stopped paying them!

Still with me folks??

I have noticed on my credit file a DEFAULT issued on 26th march 2007, but how i kept making payments?
also on the statements when i was paying £12 a month to DLC the statements say min payment £2.83!! And I have totalled the charges added to my account and it totals £547!

I guess what I'm asking is this acceptable? and what should I do??

many thanks to anyone who has read all of this!

[Mistermind]

Originally Posted by sarnie2109

I never missed any payments and in January 2007 i wrote to them and offered them token payments of a £1 as i was struggling, they accepted these and froze the interest.

You breached the agreement to make minimum 5% monthly payment. Freezing interest growth and accepting £1 per month was a pragmatic compromise on Egg's part until your situation recovers. What exactly did they write in agreeing to £1 per month? I doubt if they would have undertaken to accept £1 per month for all time.

I continued to pay them and then in december 07 i received a letter from DLC to make payments to them, at the time i didn't know what was what so rang them and arranged to pay them, but they wanted £12 a month!!
I continued to pay this, struggled but never missed a payment!

In March 09 i received a letter from Fredrickson international asking for payment of this debt and then in april 09 i received a very nice letterfrom the lovely Bryan Carter telling me they have been instructed to recover the aforesaid debt, and that if payment in full was not made within 7 days they would issue proceedings including court fees of £65, solicitors fee's of £80. (talk about confuse me!)

I wrote to them telling them I had not been informed that the debt had been passed on, and i enclosed proof that I had been paying BLC.
They replied telling me that they had, referred the matter back to there client and the account was placed on hold.
I asked for any documents they held and bless there cotton socks, they sent me all my statements and a CCA.
I wrote to DLC in june asking what was going on and they replied by telling me the account had been passed back to Egg.

I have not heard from, Bryan Carter, Fredrickson international or Egg since even though i have stopped paying them!

Still with me folks??

I have noticed on my credit file a DEFAULT issued on 26th march 2007, but how i kept making payments?

The DN would have reflected breach of the 5% monthly payment, not breach of the £1 monthly payment. Many cardholders have reported they never received a DN by post. Cards are not obliged to use registered post, and if forced against the ropes Egg invariably claims they sent it. Doubtful if the regulators will take up the cudgels when it is your word against Egg's. If 100 cardholders simultaneously report the same pattern behaviour then the regulator may be woken up.

also on the statements when i was paying £12 a month to DLC the statements say min payment £2.83!! And I have totalled the charges added to my account and it totals £547!

Reclaiming penalty charges of £547 plus 8% statutory interest per annum would be the part of your struggle most likely to be rewarded by quick success judging by Egg's past history, should you wish to initiate same.

Legally agreed monthly payment is at 5% level, usually £5 minimum sum. Not sure where the figure of £2.83 came from. If Egg IT falls down on the job it would not be the first time. No regulator will intervene against poor IT, too many companies will be in the dock.

I guess what I'm asking is this acceptable? and what should I do??

many thanks to anyone who has read all of this!

If you demonstrate your history of honouring the compromise agreement and you intend to uphold same until your circumstances make a higher figure possible, it is pointless for them to demand money which is not available. On the other side Egg and DCAs are no doubt hard up, with mass unemployment and widespread inability or refusal to pay, the other side is no doubt getting desperate to extract as much as possible. It is up to you to explain what is not possible. Despite Egg's previous concession to accept £1 per month, i doubt if their wording will give you much chance to hold them to it for ever. I doubt if the regulator or the courts will uphold £1 monthly for all time. If this goes to court, most likely the judge will ask for I&E, then order a new monthly payment level.

Good luck, and good cheer in your dealings with DCAs who make it their business to be unpleasant , so that debtors will be encouraged to pay up so as to be rid of them.

[sarnie2109]

Thank you mastermind for explaining this to me, I am very grateful.