MSE News: Northern Rock pays £270m to 150,000 after gaffe

tracy7

lennonc1 wrote: »

There is quite a lot of us contesting the method of redress, we would prefer direct payment and terms stay the same, others are happy with term reduction but I suppose it depends on your circumstances. I would like to think interest should be added on top as they have accrued a lot of interest on our payments taken illegally, we are quite within our rights to expect consultation on this, they simply can't dictate how this will work when they have committed the breach.

I think to argue your point for a direct payment is asking a lot, to ask for interest on top for a technicality is taking the p!

lennonc1

Similar to Ppi refunds, online loans had tick boxes for Ppi pre filled, a 'technicality' but all the same had to refund payments plus statutory interest. As NRAM have accrued interest on all our payments taken whilst in breach, it is only fair that is included. My letter before action to them will highlight this and that I would be willing to leave that additional interest if they settle by repaying all payments directly and to leave term as agreed.

daisymay2008

kazonuk wrote: »

still no letter from NRAM

has any ex-NRAM customers had anything?

no nothing we are being left until last....not sure if that's fair or not really but naff all we can do about it

davross

Has anyone with a secured loan got a refund yet or is it just those with unsecured loans so far?

cot1198

Had an email from the FOS yesterday. My complaint has been passed onto a specialist team. Will post this on both threads.

lennonc1

Thats great, things are starting to look a bit more positive, I have a few emails to send, and perhaps one to Chief ombudsman, just to make sure it is now known that there is lots of complaints coming.

cot1198

Looks like they may have had a few already.

lennonc1

Heres hoping the FOS can sort it out without the need for court action.

geeka

FOS? what's that?

cot1198 wrote: »

Had an email from the FOS yesterday. My complaint has been passed onto a specialist team. Will post this on both threads.

cot1198

geeka wrote: »

FOS? what's that?

Financial Ombudsman Service.