Northern rock loan over £25,000

NorthernRockNewbie

si2winit wrote: »

Hello

Where did you get this information? Just so that I can review and read the entire thing? I heard the court date was due for the end of March 2015? Has it been brought forward?

Hi Simon, they hope to have a judgement by March but the hearing is on the 17th and 18th of this month. I will post more info here as soon as I have it. I had to do some real digging to find out the info...it's taken hours.

si2winit

NorthernRockNewbie wrote: »

Hi Simon, they hope to have a judgement by March but the hearing is on the 17th and 18th of this month. I will post more info here as soon as I have it. I had to do some real digging to find out the info...it's taken hours.

Fingers crossed from me on this one, I very much doubt we will get anything back but heres hoping.

What high court is this happening?

Sam84

All we can do is hope!

I took an unsecured loan of £30k in December 2007...in nearly 7 years I think I have paid off around £3000, always paying on time!

Soon to be delinked my interest rate will sky rocket!!

Still amazed at how little coverage this has had in the media.

NorthernRockNewbie

On Tuesday 17th and Wednesday 18th of November NRAM are appearing at the High Court in declaratory proceedings regarding the wording on Together Mortgage products where loans were in excess of £25,000 but claimed to be covered by the CCA.

In leyman's terms this basically means that NRAM want a judge to rule on how the law should be applied on all the incorrect paperwork.

Here's the bit which, at least from my perspective, absolutely reeks.

The opposing party are named as (1) Jeffrey McAdam and (2) Ann Hartley (NRAM plc -v- (1) Jeffrey McAdam (2) Ann Hartley
2014 Folio 507)

I have had it confirmed 100% this morning that Jeffrey McAdam is the same "Jeff McAdam" who's linked in profile states that he is "Head of Unsecured Debt Recovery at UK Asset Resolution".

See here https://uk.linkedin.com/pub/jeff-mcadam/5/807/294

If the penny hasn't dropped for you, UK Asset Resolution is the holding company of NRAM.

By all accounts Mr McAdam himself took out a Together Mortgage with an unsecured loan.

So...what to expect? A full on effort from McAdam's legal representation to convince the Judge that our agreements that state they are covered by the CCA should indeed be covered by the CCA?

Waiting to find out who the judge is.

More soon.

Lippyx

I just don't see how a WHOLE act can be "overwritten" just because it will put NR in the s**t.


Keep us posted NRN

Chrisb80

Hi all,

I was one of the original people commenting on this thread when it started am have been keeping a watchful eye over the months/years! As with most of you I referred to the FOS only to be rejected.

I'm in the fortunate position to have been able to move away from NRAM and settle my unsecure loan. Now with First Direct who I must say are absolutely brilliant from a customer service perspective and the sub 3.5% deal I'm on.

Anyway, will be good to see what happens during this court case and hope everyone gets the justice they deserve. NRAM can't get away with this its a disgrace. I look forward to hearing the developments....

Thrugelmir

NorthernRockNewbie wrote: »

Here's the bit which, at least from my perspective, absolutely reeks.

The Court will make it's own decision. Clarity is required for all parties concerned. Establishing case law is key.

Bignosher13

Chrisb80 wrote: »

Hi all,

I was one of the original people commenting on this thread when it started am have been keeping a watchful eye over the months/years! As with most of you I referred to the FOS only to be rejected.

I'm in the fortunate position to have been able to move away from NRAM and settle my unsecure loan. Now with First Direct who I must say are absolutely brilliant from a customer service perspective and the sub 3.5% deal I'm on.

Anyway, will be good to see what happens during this court case and hope everyone gets the justice they deserve. NRAM can't get away with this its a disgrace. I look forward to hearing the developments....

I too have settled my £28,500 Together Loan along with the Mortgage and am now renting. It was a case of selling to rid ourselves of the debt as there wasn't the option to move it elsewhere to our benefit. Drastic but necessary.

I've also followed this Forum with interest and look forward to a definitive answer to what seems a more concrete case than those under the £25k threshold. It does sound though that this will be fiercely contested.

I managed to find out the following details regarding today's hearing:

Admiralty, Commercial & London Mercantile Court daily cause list:
ROLLS BUILDING
COURT 25
Before MR JUSTICE BURTON
Tuesday 18 November 2014
At 10:30
FOR TRIAL
2014-507 Northern Rock Asset Management Plc v Mr Jeffrey Patrick McAdam & anr

The contact details for Mr Justice Burton's Clerk are: Linda.mccarthy@hmcts.gsi.gov.uk
Tel: 020 7947 7076

As Thrugelmir states … The Court will make it's own decision, it's going to be an interesting couple of days

Lippyx

Well done for finding that, I tried to have a look but couldn't find much info. I see that there isn't much media awareness either? Shame we couldn't have all gone a long to watch.


As soon as anyone has any info, post it up here!! It will certainly be interesting.... but I won't hold my breath!!

carlyberyl

We too have just this year managed to finally clear the debt, although even that was a nightmare because they dragged their feet for around 6 weeks to give us a final sum to pay! Ridiculous. Wheel lets hope we get the news we would all like, I shan't hold my breath though!