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A NRAM Query

Right - this one has me a hubs utterly foxed.

OH has DAS for several debts one of them being with the former NR.

Today he received a statement from them, which makes no sense to us at all - and for all intent and purposes it looks like there has been payments made to the account which have in effect brought the balance to £0.00 from over £40,000.

The bottom of the statement shows the last 6 transactions of his standing order, with the same amount coming and going between the debit/credit side!!

BUT - the account summary at the top of the statement says

opening balance - £40,000
closing balance - £300

Without meaning to sound thick what does this mean?

It looks to me like the debt has been paid off!!

Is this a scam by NR to get us to contact them, or has there been some kind of mistake?
Don't try to keep up with the Joneses - Drag them down to your level - it's cheaper . :p:D

Comments

  • GeorgeUK
    GeorgeUK Posts: 7,737 Forumite
    It's a little late and my brain isn't really working right now, but with the DAS, is there a time period that this will be paid for? If so, will the payment he makes towards the NR debt equel this amount?

    That is quite a debt - is it a mortgage? Not sure how these are dealt with in a DAS (if at all). I had initially though the £300 may be charges, but a DAS stops charges from being added doesn't it.

    I'm being really helpful here, amn't i?
    I think it would be best not to worry about it and see what comes in next month. Has he had the DAS for a while?
    After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91

    Dad Gift 6k ¦ Savings & Inv Tst: £2,500
    Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0

    Total Owed: £2,270 (+6k) 11/08/2011
  • Miss_Poohs
    Miss_Poohs Posts: 630 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 6 March 2011 at 9:19AM
    Hi George

    No its not a mortgage its an unsecured loan - taken out by my husband (without my knowledge) I believe as a consolidation loan!!! Believe that if you will - anyway.

    The loan was taken out back in 2007, and became part of a DAS around the summer of 2008 and its being paid each month through the DAS.

    I did claim back the PPI for him and got that was removed from the loan, but this statement makes no sense at all - its all very confusing!!
    Don't try to keep up with the Joneses - Drag them down to your level - it's cheaper . :p:D
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