Northern rock loan over £25,000

NorthernRockVictim

carlyberyl wrote: »

Sick and tired of seeing people telling us to leave it! If you want to then please feel free to do so, but why publicly comment when you can clearly see we are going to try and fight? Do you honestly think just because you tell us to we are actually going to listen?!
Here's a tip...stop trying to create an argument and cause upset, and go about your business. You do not need to comment further if you do not wish to continue this with us! Your comments are only going to stir up a backlash, so expect no other!!

Well I'm not giving up at all, been busy writing to papers etc. I think that we really need to somehow find the truth about who chose both legal teams, if NRAM chose both then this will grab media attention, especially after the results of e.scrouge's invaluable research. Thank you to him again, spot on!

daveylad

I phoned NRAM to ask what exactly my position was with regards to CCA coverage as my loan is over £25k. The operator told me I was covered but I was not entitled to redress as per the appeal ruling.
I have made a complaint to NRAM as I feel that they (NR) are guilty of negligent misrepresentation in that they led customers to believe they were covered by CCA without taking measures to actually check this was correct. Customers relied on this information to make a decision to take out the loan.
I am seeking recession from NRAM as I would have never signed the agreement if the words 'unregulated' or 'not covered' were mentioned in or leading up to signing the contract. The really annoying thing for me is I was told to take out more than £25k because I would get a better interest rate, if I kept my old debt I would have paid it off 5 years ago.
BTW its important people mention negligent misrepresent ion to NRAM DO NOT let them agree to innocent misrepresent ion as this is time barred to 6 years after the loan is taken out. Negligent misrepresentation is 12 years after discovering misrepresention.

NorthernRockVictim

daveylad wrote: »

I phoned NRAM to ask what exactly my position was with regards to CCA coverage as my loan is over £25k. The operator told me I was covered but I was not entitled to redress as per the appeal ruling.
I have made a complaint to NRAM as I feel that they (NR) are guilty of negligent misrepresentation in that they led customers to believe they were covered by CCA without taking measures to actually check this was correct. Customers relied on this information to make a decision to take out the loan.
I am seeking recession from NRAM as I would have never signed the agreement if the words 'unregulated' or 'not covered' were mentioned in or leading up to signing the contract. The really annoying thing for me is I was told to take out more than £25k because I would get a better interest rate, if I kept my old debt I would have paid it off 5 years ago.
BTW its important people mention negligent misrepresent ion to NRAM DO NOT let them agree to innocent misrepresent ion as this is time barred to 6 years after the loan is taken out. Negligent misrepresentation is 12 years after discovering misrepresention.

Thank you so much for your words of obvious professional wisdom. Yet another avenue for us troopers marching onwards!

CSC1

Also a word of caution to any would be "the taxpayer will be funding this" ignorant folk and I mean that with all respect. If you look into UKAR financial Accounts 2008-2015 you will see that UKAR is ( cough HM Treasury) is making hundreds of millions Mae billions from the poor folk trapped in their mortgage deals. I will post in full soonish but don't be fooled into thinking the poor taxpayer this and that it's a daily telegraph/ daily mail / sun smokescreen. The folk trapped in their homes are paying what it would have cost UKAR in interest refunds every quarter!

NorthernRockVictim

CSC1 - Should UK PLC economics whether good or bad be an influence upon justice? The VERY final outcome will be considered on merits, not ethics. Please don't take this the wrong way either, but I don't give a s**t about the 'ignorant folk' you refer to. Look at all the facts, dishonesty and the relentless fight that NRAM have thus far put against honest justice, there was no price it was a mission to deceive the us, the real victims. I'm making progress with media exposure, albeit minor at the moment but interest is slowly growing.

daveylad

everyone fails to mention NRAM stands to make around £820 million in interest payments alone from the over £25k loans portfolio.

NorthernRockVictim

daveylad wrote: »

everyone fails to mention NRAM stands to make around £820 million in interest payments alone from the over £25k loans portfolio.

Dave, as much as that grinds me too, it's irrelevant, sorry to be blunt, but [honest?] profit should not be criticised. Stay focused on the weaknesses we have discovered and help expose them to every possible media. As I've said before, throw enough mud at the wall and eventually some will stick. I've been throwing it everywhere, and now getting a tad of interest.

daveylad

It's actually the reason NRAM are fighting tooth and nail to avoid paying any redress. If they paid out the redress they would have had over 400million wiped off its loan book plus the 260million in redress payments. We are never going to see any redress IMO, i am honestly considering defaulting as an option. If I stay with NRAM it will take me years of overpayment just to break even. Im stuck in a house my family has outgrown and I need to move. If NRAM turn down my offer for recission of contract I think it's the only thing left for me to do. At least I will not feel trapped any longer.

NorthernRockVictim

Dave, we're all in the same boat (me included) stuck with an atrocious loan which quite frankly would not have been underwritten under revised lending legislation. Take a back seat, don't default if possible and watch what the rest of us can achieve with the right media exposure. There are four key elements to prove corruption, all of which I've referred to before. I truly believe that I am capable of leading this battle, but only with the troops behind the desire to win.

bumblesquat

NorthernRockVictim wrote: »

Dave, we're all in the same boat (me included) stuck with an atrocious loan which quite frankly would not have been underwritten under revised lending legislation. Take a back seat, don't default if possible and watch what the rest of us can achieve with the right media exposure. There are four key elements to prove corruption, all of which I've referred to before. I truly believe that I am capable of leading this battle, but only with the troops behind the desire to win.

Tell me how I can help push things forward and I'm there. Good luck x