Northern rock loan over £25,000

tommyboy541

Ok then continue arguing lol!

carlyberyl

Well after thinking about it I just felt the need to say this...
I honestly don't think any of those judges sat and thought about the implications that will more than likely now occur...
How many people are now going to turn round and say, you know what I'm not paying anymore? They didn't keep their end of the contract, why should I mine? Let them waste money taking me to court to get their money back!
And why shouldn't they?!
It has made a complete mockery of contracts full stop if you are not protected by what is stated in them. They were the ones drawing them up, we put our trust in them, and they took us all for fools.
Let's face it they all p*#s in the same pot (excuse my language!) I think we all knew they would manage to squirm their way out. I personally now feel like quitting my job, telling hubby to do the same and live off benefits. Let the government pay for us to live instead of the other way round! It's all a big joke, and yet again faith in our system has been lost. I don't want to pay my taxes anymore, to be screwed over one way or another in this country!
I sincerely hope the majority stop their payments now to nram, make them wait for their bloody money, or offer them £1 a week, they're not allowed to refuse!!
I still think we would have got further if Martin had championed it, like he has with ppi (which I also think will now be affected, those companies will use this to find a way to worm out now!). I know he has a life, but we all have. Only difference is ours have been greatly affected by nram, and we dont have millions sat in the bank

Lippyx

benrussell wrote: »

There appears to be two issues over which we could have sued: misrepresentation and breach of contractual warranty. We need legal advice to know if either are still valid given that it was a few years ago now.

Already tried the misrepresentation. Solicitor says no chance and NRAM ask for me to PROVE how I was misrepresented/missold and no matter what I say or show them, they won't accept it.
Now they have this appeal, what chance do we have in proving it, as they'll just throw this back in our face!

Lippyx

CPR25 wrote: »

There is nothing left to fight though....I'm not obsessed and don't keep posting the same message....I'm just advising people to get on with their lives....life is too short to spend another 3 years on a whole new argument

Life is too short.. too short to be paying a money grabbing company even more money, when they don't even have the right to.

Lippyx

keg1keg wrote: »

Ugh, stop disrespecting others ! Move on if you want, fight if you want. I will be continuing to research and looking at other avenues we can consider- I hope and imagine others will be doing the same. Really, we need to come together now. Or say nothing !

I think its time to all write a letter to the wonderful Mr Cameron! See what he has to say about the matter!
Even write to local/national press too?

CPR25

Below is a copy and paste from commentary of the judgement given this morning....

"Under contract law, a plaintiff can recover against a defendant on the grounds of fraudulent misrepresentation if (1) a representation was made; (2) that was false; (3) that when made, the representation was known to be false or made recklessly without knowledge of its truth; (4) that it was made with the intention that the plaintiff rely on it; (5) that the plaintiff did rely on it; and (6) that the plaintiff suffered damages as a result.

It's 4,5,6 that hold the issue. The appeal court have said it was administrative (which presumably indicates it was not intended the customer relied on it - did the customer rely on it ? If so in what way ? and what damages has the plaintiff suffered because of their reliance on it ? "

jimmyay

Everyone just stop paying collectively. High risk but would send a message. I know many would put themselves at risk if they did but negotiating full and final settements may be better than paying exorbitant interest for the next 16 years and who knows what delights await in terms of interest rate rises on these loans they may never be paid off, I for one can't afford and wont be paying any more.

CPR25

NRAM PRESS RELEASE

Loans over £25,000
Last updated : 23 July 2015
NRAM plc v McAdam & Hartley – Court of Appeal decision in favour of NRAM
NRAM notes the judgment made today by the Court of Appeal confirming that customers who took out unsecured loans of more than £25,000 under agreements that incorrectly stated these loans were regulated under the CCA, are not entitled to the same rights and remedies as those customers who took out loans that were regulated under the CCA.
For loans taken out before 6 April 2008, the Consumer Credit Act (CCA) only applies where the amount we agreed to lend you (the amount of credit) was £25,000 or less.
Historically, some NRAM customers took out unsecured loans for over £25k on documents which incorrectly stated these loans were regulated under the CCA. It was legally unclear whether those customers were entitled to the same rights and remedies as customers who took out loans that were regulated under the CCA. As NRAM is fully committed to acting in accordance with the law and treating both customers and the tax payer fairly, NRAM asked the High Court for a declaration of the meaning of those agreements. The High Court considered the documentation and decided that it meant customers were entitled to the rights and remedies applicable to a regulated agreement (in so far as this was possible).
After considering legal advice NRAM decided to pursue an appeal to obtain fully legal clarity and secure a fair outcome for both customers and taxpayers. The Court of Appeal has now provided its judgment and ruled in favour of NRAM.
What should I do now?
Your loan continues to operate in the normal way and you must continue to make your usual monthly payments.

Lippyx

jimmyay wrote: »

Everyone just stop paying collectively. High risk but would send a message. I know many would put themselves at risk if they did but negotiating full and final settements may be better than paying exorbitant interest for the next 16 years and who knows what delights await in terms of interest rate rises on these loans they may never be paid off, I for one can't afford and wont be paying any more.

This is hard as everyone's situation is different.


I have an AOE on me, so if I stop, I would be whisked straight in front of a judge. Plus I have already spoken to NRAM about negotiating a full and final offer and they have said I have to pay the FULL amount owed, as they know they have me over a barrel. They aren't interested in negotiating. Why have less money given to you tomorrow, if you can wait 10 years and get exactly the amount you want... time means nothing to them, remember.


I am all up for fighting, but how many times is a person to be knocked down before that person realises its a no win battle?

NorthernRockVictim

I am of the opinion that these judges have now set a precedent that could have serious implications for all lenders and borrowers. Watch how things unfold during forthcoming months, and how barristers will use this as a case study for their clients to escape the terms of formal contracts.