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

cot1198

lennonc1 wrote: »

oh you have to read this only a couple of pages but a good read...
I am actually going to call him as I am not too far from him and see what he says to our situation...

{Link Removed{

if you cant get it via that link pm me your email and ill send as attachment...fact that might be best as some watching the thread might be the enemy lol lol.

All good information.

The question on my mind though is.
Is it sufficient for NRAM to give redress in any way they see fit, as long as redress is given. In doing so are they fulfilling their legal obligation to the customer?

chips78

As current nram customers have now recieved their compensation and the thread is focusing more on how this compensation is being issued, is it worth a new thread being set up solely for ex-Nram customers and their claims. Its hard to tell at the moment what is happening and how many ex NRAM people are using this thread.

geeka

I have had a letter off nram, I complained and they have sent me another letter saying they are looking into it and give them another month. I've got a further advance and ive heard they arent covered under this but aren't secured loans very much the same? i'm confused. Any ideas?
They have said I can goto the Fin Omb if I want, should I wait for NRam to get back to me?

cot1198

chips78 wrote: »

As current nram customers have now recieved their compensation and the thread is focusing more on how this compensation is being issued, is it worth a new thread being set up solely for ex-Nram customers and their claims. Its hard to tell at the moment what is happening and how many ex NRAM people are using this thread.

Not all current NRAM customers have received their redress. I for one have not, so I think current customers discussing the method of redress is still relevant to this thread.

I do agree though that ex NRAM customers would be better served by creating a new thread.

cot1198

geeka wrote: »

I have had a letter off nram, I complained and they have sent me another letter saying they are looking into it and give them another month. I've got a further advance and ive heard they arent covered under this but aren't secured loans very much the same? i'm confused. Any ideas?
They have said I can goto the Fin Omb if I want, should I wait for NRam to get back to me?

I think I am right in saying that secured loans are not covered by the Consumer Credit Act. Only unsecured loans under £25,000. There is a thread for NRAM loads over 25,000.

lennonc1

cot1198 wrote: »

I think I am right in saying that secured loans are not covered by the Consumer Credit Act. Only unsecured loans under £25,000. There is a thread for NRAM loads over 25,000.

I'm sure that's right, only loans covered by cca, I have additional 3k secured and that's covered by fsa so isn't affected!
The customers with unsecured loan over 25k states it is covered by cca and is in fact not, so they have a bigger legal battle - misleading information or fraud!!

I'm considering creating a thread for - action group possibility!
Will wait until I have more news from nram.

cot1198

just a waiting game now to see what NRAM come up with next really, and keep tying to find out more information on our rights

shelleuk

For those that are not receiving the loyalty discount. I phoned them a few months ago asking why i hadn't received the discount they sent me a generic letter stating the good old 'im on a special rate' etc. I sent them a complaints letter last week highlighting the discount criteria and how they can define a special rate being 0.01% below the svr. I asked what percentage of customers actually received this discount and they sent me an exact copy of the original letter that they sent me saying I'm on a the special rate. They answered non of my questions just the generic letter in response to my complaint. Is it worth me pursuing this further with the ombudsman? I'm fed up of them changing the goal posts at every opportunity and I'm not happy at how underhand they are being. It's the term special that is getting me. How is it special? I will wait for the postman again today to see if I get my letter regarding how much redress I will get. It's not so much about the loyalty discount anymore it's about the principal.

123chase

shelleuk wrote: »

For those that are not receiving the loyalty discount. I phoned them a few months ago asking why i hadn't received the discount they sent me a generic letter stating the good old 'im on a special rate' etc. I sent them a complaints letter last week highlighting the discount criteria and how they can define a special rate being 0.01% below the svr. I asked what percentage of customers actually received this discount and they sent me an exact copy of the original letter that they sent me saying I'm on a the special rate. They answered non of my questions just the generic letter in response to my complaint. Is it worth me pursuing this further with the ombudsman? I'm fed up of them changing the goal posts at every opportunity and I'm not happy at how underhand they are being. It's the term special that is getting me. How is it special? I will wait for the postman again today to see if I get my letter regarding how much redress I will get. It's not so much about the loyalty discount anymore it's about the principal.

I agree, I'm sick of this special rate business, I had a fixed 3 year then a fixed 5 year, then was automatically put on their special rate. I logged a complaint yesterday, for not being allowed their special rate, got to wait 8 weeks for a response now.

123chase

123chase wrote: »

I agree, I'm sick of this special rate business, I had a fixed 3 year then a fixed 5 year, then was automatically put on their special rate. I logged a complaint yesterday, for not being allowed their special rate, got to wait 8 weeks for a response now.

Sorry, meant to say I logged a complaint yesterday, for not being allowed their loyalty rate.