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

daisymay2008

come on nram, us ex customers have been waiting since December now....4 months is a little long don't you think!

lennonc1

I think you are still in for a bit of a wait, as far as I know they are only half way through the existing customers. Apparently it is so complex and could take quite a while to go through us all. What's the bet you ex customers don't receive interest added to your refunds. Make sure you know your figures and challenge them if not satisfactory.

dragon_train

Hi all, I'm new to here so be gentle.

I have been watching this thread for several weeks. I received a letter in December, then another in Feb.
I still had not heard about my redress.

I phoned them today and they advised me that It was credited last week, and that letters went out this week.

I got £2052 my unsecured loan amount was about £18000. I was happy with that.

Whilst on the phone the advisor warned me that Nram expect interest rates to rise within the next 3 yrs and asked if they could do an affordability check. They asked me about income and outgoings.

So it seems what they give in one hand they are getting ready to claw back with another.

N/B I am not associated with any bank or financial institute I'm actually a train driver.

lennonc1

Welcome dragon train!! We will be gentle don't worry! :-)
I honestly can't believe they can just redress loans without consent, to do that then send letter a week later is not on, they are meant to give you this several weeks in advance before changes to terms are made.
Make sure you calculate exactly what you are due!
Do you know if your amount has statutory interest added?
I wouldn't trust their calculations to be honest!!!

shaney1981

got my response from my second or re-complaint today, the same stock bull 8 weeks blah, blah, blah. Why are they making this harder than it needs to be. I will be happy with my arrears cleared and my balance adjusted, that is what suits my situation. A simple two minute conversation will sort it..... what is the problem NRAM? FOS for me I believe.....

lennonc1

Send your complaint to fos anyway, nram will be charged for every complaint sent to them.

shaney1981

Charged, really? I want them to take me to court, I'm 100% convinced they will not win. Even after specifically asking for correspondence via e-mail or in writing, I still received a call (which I ignored.) Why, oh why NRAM.

lennonc1

Yes they certainly don't seem to know their a*** from their elbow!!
They get charged between 400-800 every time a complaint is sent to the FOS. So the more that do it the more they are charged. It looks as if they have large funds for this kind of thing.

PAUL67

shaney1981 wrote: »

got my response from my second or re-complaint today, the same stock bull 8 weeks blah, blah, blah. Why are they making this harder than it needs to be. I will be happy with my arrears cleared and my balance adjusted, that is what suits my situation. A simple two minute conversation will sort it..... what is the problem NRAM? FOS for me I believe.....

As i mentioned earlier i have now had my redress added to my account and i also had arrears on my account both on the secured and unsecured part. The arrears on the unsecured part of my loan was settled with the redress and the rest deducted from the balance of the unsecured. The arrears on the secured element stayed as they were. Because i had an arrangement in place to pay an additional amount each month to clear the arrears i received a call from NRAM asking if i wanted to transfer the overpayment i had been making on the unsecured part to the secured part to clear that quicker. I didnt so the arrears payment was reduced. I know some people are looking for arrears to be cleared on both secured and unsecured elements but NRAM are definatly only adjusting the unsecured element.

lennonc1

shaney1981 wrote: »

Charged, really? I want them to take me to court, I'm 100% convinced they will not win. Even after specifically asking for correspondence via e-mail or in writing, I still received a call (which I ignored.) Why, oh why NRAM.

I can send you a template letter for harassment if you have asked already to communicate in writing only. It mentions under human rights act that you are entitled to a peaceful and private life in your home, I'll find it and pm you for your email to send.