NRAM - not paying. What next?

DeeGee75

I have an unsecured loan which I took out with Northern Rock which now comes under the unbrella of NRAM. A couple of years ago they wrote to me to say that I'd been mis-sold PPI and that they would be making an award. Would I like it myself or to go towards the balance of the loan. At the time I requested that it would go towards the loan balance and thought nothing of it.

However, come annual statement time, it became apparent that they hadn't paid anything! I got back in touch and asked whether the money would be paid, and they looked at the file and said it hadn't been paid, they'd use the details I already had to put in another claim.

Quite rightly a month ago, I got an offer letter, asking if I wanted it towards the balance of the loan or in my account. This time, to keep an eye on whether it would be paid or not I asked for it to be paid into my current account.

Nothing has come.

Now, how much longer should I wait, and then should I phone them again, or take this to a higher authority?

-taff

If it's still not in there after the weekend, either phone them up or write and explain that you'd like your money please.

Youi can ask them for a refund of the extra interest that you've paid over the last couple of years too, because if they had paid it when they said they would, and restructured the loan, you'd have paid less interest.

If they don't, you'll go tot he FOS....[you may wait up to 18 months with the FOS but as they've already upeld your complaint, it may well be quicker, but that's onyl if you have to go down that route]

I would also google for the ceo email address if the phone call/letter produce no results.

amersall

As taff said and make sure they restructure the loan and take the whole PPI amount off the loan balance and your monthly PPI payment taken off the monthly loan payment.