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Confused re figures from Northern Rock Loan

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Hi All - have today received my 6 monthly letter from NR (NRAM) regarding my loan. I have had an agreement with them for years. I am a bit confused as to what I actually owe. Opening balance £xxxxx Arrears £xxxx, Closing balance £xxxxx Arrears £xxxx - Do the opening and closing balances include the arrears or are the arrears on top of the balances?

Thanks, xx

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  • 1 month later...

What you have received is not a regulated statement of account. The regulated account under 1974, 2006 CCA has to be in amortised table since 2004 - not done by NR - and has to separate the credit amount and interest amount s 77A - not done by northern rock in prescribed format under the acts!


With all of 'our'money they have at their desposal one would think they would employ people who know the law - the problem is that old style agreements were 'front loaded' and on my loan of £15,000 they made and extra £4000, so you can see why they do it this way -

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Anyone / Consumer Forum? know whether the new CCD 2010 in force 1 Feb 2010 applied to all unsecured fixed loan agreements whenever made? The bank says they do not.

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  • 7 months later...

Am now also a little worried as I have received the usual letter stating that my temporary payment arrangement has ended and as I have not contacted them, they presume I can make the usual contractual payments. I have actually written to them 3 or 4 times now explaining that my situation has not changed and could I continue on temporary payment arrangement. I have also explained that I WILL be able to resume contractual payments soon as my financial circumstances will change for the better - freeing up a little more cash to pay my debts. This has been going on over the last couple of months and as yet I have not received a direct reply to any of my letters - just a FINAL WARNING standard missive which does not address my personal circumstances.

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