NRAM - claim upheld & loan account number changed

Munro_Bagger

This is for information, and to ask if anyone else has had this experience?

My OH received a letter today from NRAM advising that his old loan account number had changed to a new one. He spoke to them this afternoon and they stated it is their policy to close an account that has had a PPI rebate applied to it, and open a new one (with the outstanding balance in it), under a new account number.

My OH noted there was a discrepancy in the amount that had been put into the new account (it was a larger figure). After a lengthy discussion, he was able to determine the reason for this - they had set up a new loan term on the remaining sum, and the larger outstanding amount was because they had added a new 31 month term @ the APR of the original loan (which was taken out in 2004 @ 60 months term). My OH had no knowledge of this. It was not mentioned in the letter he received. The original loan had been on a DMP for some time - NRAM advised they had no knowledge of this on the new account.

If my OH had not received the letter from NRAM advising of the account number change, he would not have been able to notify his DMP about the account number change! So, if you're successful with your NRAM PPI claim, check the outstanding arrears figure in your new account...and if it's different, ask why!

Just out of interest, can NRAM set a new loan term like this, without my OH's agreement? Or is it just considered an extension to the old loan? In my OH's case, the current balance in the new account is £90 more than the expected arrears. Many thanks