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

Keith

Blinky,

The old statements show interest being charged, i guess the new ones don't?

You need to compare old v new to see how it has changes.

lauraeast23

Keith wrote: »

Blinky,

The old statements show interest being charged, i guess the new ones don't?

You need to compare old v new to see how it has changes.

Anyone letting out make sure you keep your old statements so you can still claim this back against your rental income. You still physically paid this cash out and did not get it back into your bank account !! I'm hoping that it will still count as deductible against the income

lennonc1

Glasgow77 wrote: »

Jimmy

That's now a 2556 a 2985 and a 3095 redress you have had lol.


I think if I was at the wind up I would remember what I had said in previous posts lol.


Safe to say you are talking p*sh but we all knew that anyway didn't we

Yeah I'd noticed that too!! Didnt want to say as I think he has it in for me!! Lol

lauraeast23

lauraeast23 wrote: »

I did not know this - when did this change ?

How anyone can be pro NRAM is beyond me - they screw us over every which way.

First 0.01 discount to deny the loyalty SVR and now this.

I live in the US I can't sell as in negative, so have no option but to rent out and now I am going to get shafted for this too, and I won't have the money to pay it so they'll kindly offer to add it to my mortage, thereby creating more interest for them.

And due to the ltv they will not CTL for longer than 1 year....

This is outrageous, people are trying to make the best of a bad situation and we just get it shoved right back in our faces

Been thinking about this some more and if this is the case this is a huge issue for me, with the amount I am paying in interest I only pay around 100 a month off my capital so if they charged me 1200 to consent to let it will pretty much cancel out any capital I have paid off that year !!

cot1198

As expected got a letter from NRAM saying they have looked into my complaint and can not uphold it. So it's off to the FOS, the complaint form is going in the post today. I will post later with details of the letter and what I have put on the complaint form.

lennonc1

Really of course we knew this would happen. Whats the bet fos won't help either, I have a funny feeling that it will have to go to court, I am going to find out as much as I can about group action as it sees the only way forward, will lessen costs and taken more seriously. Can't believe they can decide this, so do you think create a new thread for Nram Action Group and see how many would be willing to take part? I will get some info together and see what I can come up with!!
They do this as they know no one with have the balls to deal with going to court etc! Makes me mad!!!
They have the time, resources and money, we don't, so it's a win win for them!! I am certainly not bending over for the proverbial shafting!!

123chase

I received my revised statements today. They just took off the interest charges over the period of non-complaint. All square now.

BEAKER654

Hi there, I submitted an official complaint to NRAM stating that I was'nt happy with the redress being taken off of my account balance, I requested that It be paid into my bank. After 4 weeks I have received their final response in which the say that this will not be done, they are treating me fairly and that if I wasnt happy to contact the financial ombudsman. I will be contacting FOS on Monday morning outlining my complaint, the fact that NRAM have just out of the blue changed the term of my Unsecured Loan etc etc. I will just have to wait another 6 months now to find out how that goes! If anyone else has any better suggestions please let me know!

Maybe i should contact NRAM and tell them that due to the current economic climate I am rooked and that I will be reducing my interest rate from 4.79 to 0.5% and that I will also be taking a 5 year payment holiday, if they read my t&c's they will find all of the above in the small print!

To the small claims court for me I thinks!

lennonc1

I am the same, can only go to small claims court if 3000 or under I have a feeling that mine is near 4000, where in country are you. Some are thinking of class action -

Reasons for bringing a class action

Same potential claim – Naturally a class action can only be brought if the potential claims of the individuals privy to the group are relatively similar. If the claims were not similar then a court could not treat the action as a group action since different factual and legal elements would have to be looked at for each specific case; this is why parties bring different disputes against each other and so a group action is of not always suitable. However, when the facts are similar for all members of the group it makes sense to bring a class action; the court will encourage a group action as it can deal with the matter in one case rather than lots of different cases. A court will consider it a waste of its time if it has to repeatedly decide the same facts and so there is significant court guidance that if you are considering a claim and there is potential for group action you should strongly consider whether it is appropriate.
Reduce costs – The cost of bringing a claim can be very expensive particularly if you are taking on a large entity. It therefore makes far greater sense for people to share the costs of litigation by teaming up with others in a similar position. If as a group, only one set of solicitors are instructed and the factual cases of each member are identical your legal costs will be far less than they would have been had you brought the action by yourself. The group action does not mean that you will necessarily receive any less compensation if your claim is successful; a court will usually make a ruling on how much an individual should be entitled to, and each member of the group should receive that amount.
Publicity – Often when a group of employees are bringing action against an employer (perhaps even through a trade union) the negative publicity associated with such an action for the employer is likely to lead to an increased chance of them wishing to settle the claim and thus avoid further negative publicity. The publicity is likely to be greater with a number of employees involved in the action, rather than just the one.
!

For the reasons given above class actions are encouraged by the court and should be advised by a solicitor if the individuals involved have a claim based on the same facts. This will usually happen in situations such as when a group of shareholders bring a claim against the directors of a company or when the employees of a company bring a claim against the employer. It should be noted, however, that it is only when the individuals are bringing almost entirely the same claim, or element of the same claim that a group action will be allowed by the courts.

lennonc1

Also this situation has now been passed to bbc watchdog here's hoping we get a reply. I would urge everyone to do the same and highlight the problem. The more the better!!