NRAM Class Action on redress method.

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12467…14

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  • lennonc1
    lennonc1 Posts: 276 Forumite
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    manvdebt wrote: »
    As some have rightly said, it's not a question of how this benefits you in the long term, but now, and the fact we should have had a choice.

    I myself complained to NRAM and got a standard response letter within a matter of days.

    Arrogant on NRAM's part to think that I am happy with this. I for one am happy to help in any combined effort in order to reclaim what is owed, plus interest!

    Yes agreed! I have received my final response today and guess what? They wont uphold the complaint so I need to get as much info as I can together and pass to fos. I am working on a few things that will go in our favour, once I have that together I will post.

    I also wondered about the interest accrued on our illegal payments, if I was due back 3800 redress and say statutory interest would be 304, then say on lowest average of 100 for every customers interest accrued for 150000 customers then they have made that 150000 minimum on interest from our payments taken when it shouldn't have been. So they have or did profit from it. Am I right to think that? But thats a theory, and based on minimum calculations, would need to know the figures!!!!
  • andy.m_2
    andy.m_2 Posts: 1,521 Forumite
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    To save a lot of time reading the previous pages can you please clarify something for me.

    NRAM want to take the money off your loan?
    You lot want a cheque to bank yourselves?

    Thank you.
    Sealed pot challange no: 339
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    Yip. That's about it! We have never been given the choice, for me is more about the principle now to be honest.
    In this situation we have no rights apparently.
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    krisdorey wrote: »
    The FSA wont be interested in individual cases, so the only thing the FSA would take notice of would be a class action.

    Can you advise please on how this can be done, how many people would be considered a class action/compliant. Thanks kris
  • cot1198
    cot1198 Posts: 334 Forumite
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    lennonc1 wrote: »
    Yes you are right, Nram have been very crafty with this and know that, they are hoping the average customer doesnt realise this and accept the redress, you have made some good point which will also go in my compliant to fos. It is all about fairness, that is key to winning this, if you can prove an unfair relationship then court can make them pay, maybe even without it as they have admitted their mistake and have a right to pay us back by law, so how they do that is now being contested by us.
    I was told by trading standards to issue letter before action to their lawyers stating what you want, and that you will report them to the following authorities, OFT, Trading Standards and the FSA, as they have taken a great interest in this, also state that if they agree to pay you then you will not report them to the relevant authorities.
    I am drafting a letter this week to send in even if it is still with the FOS and now that has been compromised as someone with inside access has said that fos will take their side.....oh dear!! Not so unbiased then??

    If the insider is jimmy, I don't think we need to worry.
    I think jimmy needs to worry accusing the FOS of being biased, they will not like that at all.
  • andy.m_2
    andy.m_2 Posts: 1,521 Forumite
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    There is no way that NRAM have planted an insider who is making wild and unfounded accusations.

    IF NRAM have a plant they would be under tight control what and what not to say, I would also suggest that NRAM don't care about this website or those taking class action, certainly not enough to waste time trying to derail any action, sorry.
    Sealed pot challange no: 339
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    Thats what I mean, if it has been implied already then kind of compromises their investigation and they would need to work harder to make you know/prove they cant be biased. I think it is still worth putting to them. I just have a gut feeling that jimmy is right on this one! I am glad he has not figured out how to find this thread lol.
  • cot1198
    cot1198 Posts: 334 Forumite
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    lennonc1 wrote: »
    Thats what I mean, if it has been implied already then kind of compromises their investigation and they would need to work harder to make you know/prove they cant be biased. I think it is still worth putting to them. I just have a gut feeling that jimmy is right on this one! I am glad he has not figured out how to find this thread lol.

    Oh I think he will:rotfl:
  • cot1198
    cot1198 Posts: 334 Forumite
    edited 15 March 2013 at 11:49AM
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    lennonc1 wrote: »
    Thats what I mean, if it has been implied already then kind of compromises their investigation and they would need to work harder to make you know/prove they cant be biased. I think it is still worth putting to them. I just have a gut feeling that jimmy is right on this one! I am glad he has not figured out how to find this thread lol.

    NRAM have taken this money wrongly through their breach of CCA regulations. I don't see how the party that has done the wrong thing can dictate terms of redress to the wronged party. I see this as an unfair relationship, and I hope the FOS see it that way too. If the FOS side with NRAM then we need to go very public with this to get to the bottom of what is going on.

    If I could get a cast Iron answer that NRAM can legally dictate terms of redress then fair enough I will say thank you, reduce my balance and I will get on with my life. But until then we need to fight this through the right channels and all the channels we can.
  • lennonc1
    lennonc1 Posts: 276 Forumite
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    That is all I want to know as well, but seems to be a bit of a witch hunt over on the other thread, so might stay clear for a while, its not doing any good, I will pm a few other posters to show them this one.
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