Northern rock loan over £25,000

As bbw500 has said, it is quite probable any settlements reached have been out of court and therefore come with a confidentiality clause.

As a solicitor pt2537 will be bound by that and cannot state more than he has.

poggs wrote: »

I have. thanked for my interest and will be in touch sometime.

The questions we all have are.

What were the test cases (ie is one like mine?)
What were the outcomes (so I can dream etc)

Just a wee smiley every now and again is so frustrating!

I understand your frustration, but i cannot tell you what the results were, that is not something i can do. I can tell you that we have had some progress, we ran 5 test cases which we have achieved results on some of them, the results were sufficient indicators that there was merit in pursuing the remaining cases , again i cannot say what those results were for obvious reasons but lets just say there werent any unhappy people.

And let me ask a question in all this, what would people be expecting to recover? At the end of the day, the issues seem to be that NRAM didnt give over the refund of interest like they did to the customers whose loans were regulated? If thats what youre looking for then that is certainly achievable in my opinion.

pt2537 wrote: »

I understand your frustration, but i cannot tell you what the results were, that is not something i can do. I can tell you that we have had some progress, we ran 5 test cases which we have achieved results on some of them, the results were sufficient indicators that there was merit in pursuing the remaining cases , again i cannot say what those results were for obvious reasons but lets just say there werent any unhappy people.

And let me ask a question in all this, what would people be expecting to recover? At the end of the day, the issues seem to be that NRAM didnt give over the refund of interest like they did to the customers whose loans were regulated? If thats what youre looking for then that is certainly achievable in my opinion.

Refund of interest would be fantastic. Way beyond my hopes and dreams :-)

Really hope you take my case forward soonish.

THanks for these updates. You have clarified where you can and its much appreciated.

Hypothetically speaking ;-) What would be the situation if the together loan ended up being settled / written off as part of an insolvency?

I think I know the answer, and yes I know it takes the P, however, nothing ventured...

bigbadwolf500 wrote: »

On a £30k loan (over approx 8 years) if interest & compound interest (8%) was to be paid back that would just about clear the entire remaining loan balance

Not that I want to dampen anyone's enthusiasm, but my recollection is that redress of interest was for a period of a little over 2 years while the statements were non-compliant with the new regulations.

I would have to dig back in the old threads to remind myself.