Fizzy_Fish wrote: »
BTW I just got a reply from NRAM to my email - it just seems to be a standard response, but hopefully with a few of us contacting them this has put the over £25K issue on their radar. Full text:Thank you for your email following the recent announcement regarding loans that are regulated by the Consumer Credit Act (CCA).
At this time we are not able to give you any further information about the situation.
We are currently undertaking a thorough review of all documentation sent to customers who hold loans that are regulated by the Consumer Credit Act (CCA).
Once we fully understand the situation, in terms of who is affected and in what way, we will write to those customers with an update. We will do this in the next eight weeks.
Please note: if you hold an unsecured personal loan with a 16-digit account number, we can confirm you are NOT affected by this issue
rmart wrote: »
Thinking about it more, I want the loan written off !.
In an age of mis selling scandals, surely if a bank incorrectly signs someone up for a loan on CCA protected terms they would have to stand by it or cancel it ?
Surely they cannot decide later they are not giving that protection to an unaware customer?
If they say this to me I will say they have breached the contract and demand back all payments made to them.
rmart wrote: »
Original sum borrowed.
shellyk6666 wrote: »
We took out a £25K unsecured loan as part of our together mortgage in June 2007 but then increased it 3 months later to £30K. Do you think this will mean it is protected by the CCA because the original loan amount was not over the limit? I'm not holding my breath but I can't help but hope! What do you think??
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