NRAM Class Action on redress method.

lennonc1
lennonc1 Posts: 276 Forumite
CCA affected loans -

This thread has been created to discuss the possibility of class action against NRAM. For customers that are not happy with the proposed method of redress. We are at the point where nram have not upheld our complaints as they believe their method of remediation is appropriate. We have not been consulted with regards to our terms changing and as they know and have admitted non compliance with cca, we believe we have the right to choose.

Please leave a comment if you would like to know more and to add yourself to this discussion.

Thanks
C
«13456714

Comments

  • Hi,

    I am really keen to understand what happens with this. I have been following the other thread and I think it is disgusting that NRAM can just decide what to do with OUR MONEY. I am hearing conflicting information on our legal rights but I am going to seek advice to see where we stand.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898
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    If you borrow money it is THEIR money until you pay it back.
  • lennonc1
    lennonc1 Posts: 276 Forumite
    I have spoke with lawyers and they basically say we do have the right to ask for direct payment, office of fair trading can't do anything if it is an individual complaint, has to be consumer group complaint. Citizens advice say they can change the terms only with prior notice, now trading standards have said that this has been a government decree to say we get redress on loan. Now the government are not the law and only a judge can rule on this, details have been sent to watchdog, we have other posters in conversation with head of department at oft, and now have news that there could be a possible story with a few news papers.
    I have yet to give link of this thread to the others as it is only in initial research stages at the moment, so anything you can share please do so.
    Thanks
    C
  • lennonc1
    lennonc1 Posts: 276 Forumite
    If you borrow money it is THEIR money until you pay it back.

    Not if they have taken these payments illegally over the past 4 years or so, thats why they have admitted their mistake and paying out to redress customers. It may be a small mistake to make but is that not what they so gainfully employ a great legal team for, to make sure these mistakes dont happen. We want an option of how this is paid back that is all.
  • cot1198
    cot1198 Posts: 334 Forumite
    I think it will be interesting to see what the FOS say about it.
    They may well side with NRAM, I don't know. But I think we need to go down that avenue anyway.
  • cot1198
    cot1198 Posts: 334 Forumite
    If you borrow money it is THEIR money until you pay it back.


    We did pay it back. Only problem is they where not allowed by law to charge us the interest we paid.
  • cot1198
    cot1198 Posts: 334 Forumite
    lennonc1 wrote: »
    I have spoke with lawyers and they basically say we do have the right to ask for direct payment, office of fair trading can't do anything if it is an individual complaint, has to be consumer group complaint. Citizens advice say they can change the terms only with prior notice, now trading standards have said that this has been a government decree to say we get redress on loan. Now the government are not the law and only a judge can rule on this, details have been sent to watchdog, we have other posters in conversation with head of department at oft, and now have news that there could be a possible story with a few news papers.
    I have yet to give link of this thread to the others as it is only in initial research stages at the moment, so anything you can share please do so.
    Thanks
    C

    I have also sent details to watchdog, still got to arrange a meeting with my MP. Could we complain as a group to OFT before we get a final decision from FOS?
  • lennonc1
    lennonc1 Posts: 276 Forumite
    I have got a massive reading list now, evenfields from other thread has emailed me a lot of information, I now have some great contacts and hope to get a story together to go to press. I was told by citizens advice and trading standards this was a sector failing and this is why it is very hush hush so needs to go public, then would open the big can of worms. I will send over the info I have from evenfields.
  • lennonc1
    lennonc1 Posts: 276 Forumite
    cot1198 wrote: »
    I have also sent details to watchdog, still got to arrange a meeting with my MP. Could we complain as a group to OFT before we get a final decision from FOS?

    Yes I agree, is there something we can set up a bit more private than this to do things like that, perhaps Facebook or something then at least we can pm people to join.
  • lennonc1
    lennonc1 Posts: 276 Forumite
    Ok I now have an appointment with my mp on 15th as am sure he is labour he will take great pleasure in brining this up in parliament!! Need to get info together now. If you have anything you want included please pm me as I am pretty rubbish at this kind of thing!
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