NRAM unsecured personal loan

HumptyDumpty

A newbie, so hello everyone! :j

So contacted my NRAM re: PPI and made an offer to which I accepted and it was credited to my account. Couple hundred I wasn't bothered. Thought that was the end of it.

Couple months later receive a letter saying my loan account was in the process of being closed and to cancel direct debits and a new account ref number will be given. I also receive a statement of payments I'd made and a credit of £11,400 had been made reducing my closing balance to £1,400, with a letter saying that due to the removal of PPI on my unsecured loan the account is being closed and a new reference number set up, I guess for the remainder of the balance. Shocked!!! Indeed!!

However, I believe this is an error as called for a final settlement figure as was going to clear the closing balance only to be told£10,000 still owing, which it would be as I have 24mths left to pay on it originally. So what am I to do?

Do I stick with clearing the outstanding balance that's in writing or simply accept it as an error and soldier on?

I've to add that the balance to date would now be cleared as this was back in Aug 2012 and DD payments continued on a different ref number and also they changed the amount of my regular monthly payment by 90p.??? Totally confused.

Any advice would be very much appreciated.

Tixy

I'd write to them for clarification, as its not totally clear what has happened from your post.

Ask for a full list of all transactions on the account, and check all the payments you have made have been allocated to it.

HumptyDumpty

Thx Tixy

There's either been a significant error on their part or I've been really lucky..lol. I hope it's the latter. Due an annual statement in Feb so I'll hold off till then, as any over payments I will reclaim.

I had a statement sent to me in Aug 2012 (though my annual one is due Feb) of all my payments I'd made and with an additional payment being made of £11,400 which reduced my outstanding balance on my loan (which I still had 24mths remaining) whereby on the statement it showed my closing balance now at £1,400.

A letter I was sent informs me that 'following removal of PPI from my unsecured loan, they're writing to inform me of a change to my account ref number. When I called and quoted the new ref number a different figure for my closing balance was given to me and this too was put in writing to me.

Ideally I'd like to just pay the lowest amount so the loan is at an end, obviously, but I've two different figures and was wondering how it stands legally.

I take it no one else has experienced this off NRAM? Well time will tell, I'll keep you's posted..:)

Thanks again for your comment