Wednesday, August 17, 2011
Is Egg Banking still trading?
Egg banking seems to have ceased trading and is broken up. Credit card debt being recovered. Loans being recovered by a Luxembourg based group - Britannica Recoveries s.a.r.l. An investment banking group (Carval) seems to have 'bought in' 150,000 Egg loans, 59,000 of them dormant and is now using various tactics to collect payments. These include cancelling Direct debits payable to Egg from Clients accounts and setting up Direct Debits payable to Britannica Moorgate. Very unclear whether this is legal. Some very dubious practices now being used. What is the current legal situation regarding outstanding Egg Banking Plc loans and Credit Card Debt?
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