Marlin and NRAM

charlief321

Hi there,
This is a great site for help and advice so here goes. In 2007 I had a CCJ and charging order from Northern Rock against my interest in a jointly owned property, (loan in my name only) originally an unsecured loan with a balance of just under £14,000. There was no requirement for payment installments to be made after Judgement at that time.
NRAM subsequently took over the loan and I have been making token agreed payments of £25 per month for about a year to reduce the amount of the ccj/charging order, bearing in mind I have many other agreed repayment plans with other creditors.
I have today received notice from NRAM that the loan is being transferred to Marlin Financial Services and that payments need to be made to them from 28/10/13, however I am unsure what effect (if any) the charging order from Northern Rock will have if they start throwing their weight around and threatening court action etc as the original loan has already gone down that particular road with the CCJ being the outcome.
Will my repaying Marlin no longer reduce the amount of CCJ/Charging Order as the loan has been sold? Sorry to go on a bit, just a bit confused and concerned.
Many thanks for any help.......

happy_bunny_2

I think everything just stays the same.

If they give you hassle, just say that unless ordered by a court you will be sticking to the terms as obliged. In fact, you are going further, so they would be stupid to rock the boat. So you could stop those payments.

You should ask for a statement from Marlin at the start and maybe confirm your concerns in writing.

charlief321

Thanks so much, the reassurance we get from the help and advice on this site is such a weight lifted. Haven't heard from the Marlin crew yet but hopefully they'll be agreeable as have my other creditors (Took an age to sort them all but didn't give up)

Larac

I got a similar letter from Nram 're my debt. The next day I got a letter from Marlin to say they were taking the debt over and to continue to pay my payments via my Dmp.

Joomoomies

Hiya, hubby had same letter yest & one from Marlin today. (We were stung with frontloaded interest etc at the time, making our loan amount owed approx £30k! ) Basically, Am not sure how to proceed though as the original loan became a secured charging order with £90 monthly instalments by d/d back in 2005 (I think) and we have never missed a payment and never received a statement either, so we kept all bank statements obviously showing the repayments, just in case! A few months ago, we succeeded in reducing the amount owed by nram repaying PPI back that was front loaded and not allowed to be used, so obviously we offset that against the amount owed (brought it down to about £12k i think, off the top of my head) and continued to pay the agreed instalments. Today the Marlin letter has arrived, saying we need to contact their solicitors to discuss it and that the amount owed is approx 25k! (The amount roughly Before the ppi Etc was repaid)! Eek!
Can anyone explain please whether they are able to pass the debt on/what becomes of the charging order and agreed court order once passed on? I'm at a loss as to whom to contact and what to say! Thank you so much in advance!

charlief321

Thanks for comments, Mortimer Clarke Solicitors (apparently a desk at Marlin HQ!) letter arrived today, balance owing seems to not have any extra charges added and states clearly that I will be able to repay by 'affordable instalments'. I have no intention of phoning them as they advise, everything in writing. Intend to be wary of this lot as there are many posts all over the internet regarding heavy handed tactics. Confused just like previous writer though concerning what has happened to charging order/restriction that is registered with Court and Land Registry as from Northern Rock. As they have transferred or sold the loan does the charging order become part of the package, obviously restricting them from threatening that particular course of action again if no agreement can be reached? Head spinning a bit here, very grateful for same help needed as Joomoomies

happy_bunny_2

Best give CAB a call. I have no clue. If they get pushy, I'd just send them a copy of the CCJ and say this is what you were ordered to do by a court.

tasha999

I have had the same letter on a loan with a charging order. I thought they were pulling a fast one as I've got an IVA creditors meeting next week. Though it seems they are following suit with other people too. The loan with the charging order is not included in the IVA because it is secured. I'm going to have to speak to my IP tomorrow

charlief321

Would definitely have helped avoid the confusion and concern if NRAM would have given more information in their transfer notification letter regarding CCJ/CO's on the accounts. Apparently they were throwing them about like confetti when those with unsecured loans ran into difficulties several years go so there must be a lot of us in the same boat here. Have just emailed NRAM for a hopefully clear written reply so will get back with any response from them

Joomoomies

Hi again, I found some info on the NRAM site if it helps anyone? Cant post links but it Seems like they sold off a lot of our type of accounts in one go

tasha999

The timing is uncanny for me! My IVA meeting is on the 28th, I wonder who casts the vote nram or marlin?