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Letter from NRAM PPI review team

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  • I received letter from NRAM on 17th Jan.
    Does anyone think the amount I am being offered sounds a bit low Or should I just except it.

    I think the problem with comparing totals is that we don't know the detail of others' loan agreements and, without that information, can make you question the logic and fairness of what's being offered to you.

    If it helps, I also took out an unsecured personal loan with NR in 2006 and NRAM has agreed to repay me £8k, of which £1.5 is interest. I regard the offer as fair since it represents all of my monthly (70 months) PPI payments made to NR plus the 8% interest on that total.

    Did you have to pay any 'Loan Protect' payment bundled with your monthly loan repayments? If yes, isn't that what NRAM should be returning to you + interest?

    Hopefully amersall or one of the other knowledgeable people on here could give you a steer?
  • manama
    manama Posts: 81 Forumite
    My nr loan was for 17000 over 5 years and the ppi element was 600 with it being about 900 with theinterest rate. I think they had different ppi levels eg brinze silver gold costing different amounts covering different things...well tesco certainly did ...hope that helps.
  • I sent the form in but phoned a couple of weeks later to confirm if they had recieved it, which they hadn't so I did it over the phone instead.

    the lady said it would take 12 to 14 weeks to complete the review so i've made a note in my calander to phone back at the end of 14 weeks to rattle their cage.
  • I received one yesterday, filled in and sent back, will wait for 14 weeks and then hassle them if i have heard nothing
  • Robsb75 wrote: »
    I received one yesterday, filled in and sent back, will wait for 14 weeks and then hassle them if i have heard nothing
    When you phone them the most they will tell you is that they have received your form. No amount of phone calls will speed them up. I have been waiting over 20 weeks now for my offer and still nothing! There customer service is non existent and there phone staff are totally useless! Unless you are one of the lucky few, you can expect a long wait i`m afraid.
  • Getting rather peeved of with nram ppi, recieved a letter on the 1st feb telling me i was due a refund of £800 from a loan i took out a few years ago. 4 returned aceptance forms later sent to 2 different nram offices and reminder letters being sent to me telling to send my forms back! and still i have not recieved my refund. Total rubbish!
  • Got my reply from NRAM yesterday, so that's exactly 2 months. They have upheld my concerns and have offered me £136. This is a full refund of the original premium plus £40 interest. It's not a life changing amount, but better than nothing given that I didn't know I had been mis-sold until they contacted me! :j
  • littlesue
    littlesue Posts: 208 Forumite
    We got a letter back from NRAM only last week and we filled it in and sent it straight back. Ours was a fairly big loan and the ppi was almost half the rate of it. Do you get it all back if it it was mis sold or only a small amout?
  • I would think you'd get it all back if they found you had been mis-sold. Mine was a small loan I think and the PPI was only about £96. Good luck!
  • in2deep_2
    in2deep_2 Posts: 363 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I had the letter a while ago and like most of you i didn't believe a word of it, but having nothing to loose i sent it off.
    16 weeks later (today) i got a letter saying my claim was successful and that i am due a refund of £1200.!!!:j
    So i am posting back acceptance first thing in the morning....finger crossed as it says payment will be made within one month.

    I will let you know as soon as i do.
    'Beware of little expenses. A small leak will sink a great ship'. -Benjamin Franklin.
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