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Northern Rock PPI Refund - CCA now valid?
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nonnynonny
Posts: 59 Forumite
I dont know how to be allowed to post links to make this thread relevant?
Hello there, glad to be here, may i just give a little background on my issue.
I took a loan with Northern Rock for £10,000 with a 9.9% APR over 120 months in 2004, which included PPI (An extortionate amount of £4k, i didnt realise at the time).
In 2007 i realised this was poor and via a third party company i reclaimed all of my PPI plus 8% insurance via Northern Rock.
I now attach to this thread three snapshots of the paperwork i received back from Northern Rock, which constitute (possibly) my new loan agreement.
Nrock1 (Dated 21st July 2008
This is the paperwork i have which confirmed my 'new' loan agreement.
Nrock2 (Dated 21st May 2008)
This is what i received confirming my refund and the actions following the refund. (Note a different balance and monthly payment amount on this to Nrock1??).
Nrock3 (Dated 21st May 2008)
This is the acceptance declaration that i signed and sent back to Northern Rock, and i have paid the monthly amount specified in Nrock1 since that time.
My question now is, is this agreement enforcable and can i challenge it in any way?
Any help will be much appreciated.
Hello there, glad to be here, may i just give a little background on my issue.
I took a loan with Northern Rock for £10,000 with a 9.9% APR over 120 months in 2004, which included PPI (An extortionate amount of £4k, i didnt realise at the time).
In 2007 i realised this was poor and via a third party company i reclaimed all of my PPI plus 8% insurance via Northern Rock.
I now attach to this thread three snapshots of the paperwork i received back from Northern Rock, which constitute (possibly) my new loan agreement.
Nrock1 (Dated 21st July 2008
This is the paperwork i have which confirmed my 'new' loan agreement.
Nrock2 (Dated 21st May 2008)
This is what i received confirming my refund and the actions following the refund. (Note a different balance and monthly payment amount on this to Nrock1??).
Nrock3 (Dated 21st May 2008)
This is the acceptance declaration that i signed and sent back to Northern Rock, and i have paid the monthly amount specified in Nrock1 since that time.
My question now is, is this agreement enforcable and can i challenge it in any way?
Any help will be much appreciated.
LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.
0
Comments
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Can anyone help on the restrictions to enable me to post the links to the documents i mention in my posting above, please?LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.0 -
As you are a new member, you are unable to post links. This is to prevent spammers flooding the boards I believe. I am unsure if there is a way to prevent this.No Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
I see, I understand the reason, i can imagine that being a terrible nuisance.
Is there a post restriction or something, a post count that then enables me to post links??LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.0 -
Not sure, i went through it as well, probably a good 20 or so posts, maybe days of activity too.
Also the terms are here - http://forums.moneysavingexpert.com/showthread.html?p=26867833#post26867833Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
I have read the guidelines, its just the 'agreement' i have is very vague and not standard at all, i hope i can get to post the links very soon and get everyone's help and opinions.LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.0 -
Hopefully i can get around it then shortly, and post what i need to post to get some help.
LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.0 -
I dont think i am active yet.
I am now considering a DMP, so this CCA problem is going to be really important.LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.0 -
Its worth noting that your new 3 CCA's are dated after April 2007, so would apply under the CCA 2006, not the previous CCA 1974 where most of the unenforceability topics talk about.
A DMP is an informal agreement usually via a charity so i do not think having a valid or invalid CCA would really help as many creditors after a couple of months will agree to it. A CCJ will only make you pay what you can afford, and this is what you do in a DMP anyway.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
Thanks for your advice, this is why i am really keen to get these documents posted here, so that i can demonstrate what i am talking about.
The DMP i am considering now is on the back of the recent change for Cahoot to abandon the flexible loan, leaving me in the mire at any given month should anything need extra funds i dont have.LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.0 -
Would anyone be willing to accept a PM from me with the links and then post them for me on my behalf?LBM - Jan'10
DMP Start - 01st March 2010 - Debt £31,614
Debts at Highest - £36k Mid Jan 2010
Debt Free Date 22nd December 2015!
DMP - Just do it, don't hesitate.0
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