NRAM Claim Started

[davcom1]

First off, hello all!

 

I've decided to join in on the forum to let you know how I get on with a PPI complaint against Northern Rock (£7k personal loan).

 

I borrowed £7k over 36 months in Jan 2008 via a telephone application. Sales guy at NR told me he had run everything through the computer and it was recommending I took out "Gold cover" (sic) and that the success of my application sort of depended on it.

 

I never thought any more about it and paid off the loan early (Feb 2010). It was only when I was looking at my credit report online that I remembered it!

 

After my initial claim form ended up with Bradford & Bingley (who dismissed it), I managed to get hold of NRAM again today only for the assistant's PC to crash after 15 minutes of me providing details.

 

Next person I got passed to basically told me to sod off as I had no paperwork and call Cardif Pinnacle and ask them if I had PPI. She claimed it would show as a separate payment on my bank statements (which it didn't)

 

Called Pinnacle and managed to confirm I did indeed have PPI and they supplied me with a policy number which was the loan reference too apparently. So back to NRAM and after 1 dropped call and 1 non-answered call (:-x), I got through and have now started a claim. Strange that they cannot simply do the same search that Pinnacle did!

 

Anyone estimate what the interest rate would have been on a personal loan back in 2008? (Trying to work out how much the PPI portion of the loan was!!)

 

Anyway, I'll keep this thread updated with how I get on...

 

I did submit a complaint to HSBC a year or so back regarding their PPI on a credit card but they dismissed my claim as I had signed a box on the paperwork to accept the Ts & Cs of the insurance and I never got around to taking it further...

[ims21]

Hi

 

Ideally you should SAR each lender to get hold of all the data they hold on you. There is a template in the CAG library (top left in green).

 

Add a line to the effect that the SAR is to include copies of all and any agreements you have ever had with them.

 

Without the loan agreements you may not find out how much the PPI premium was and therefore will be unable to check any offer that they may make to you.

[davcom1]

That's a good idea but NRAM claim that they do not hold details of PPI (which is why they made me call Pinnacle) - does that mean I need to SAR the PPI company too? (Smacks of incompetence IMHO)

[ims21]

From post #1

 

She claimed it would show as a separate payment on my bank statements (which it didn't)

 

If you weren't making a separate payment to an insurer then this points to it being a single premium added to the loan.

 

Called Pinnacle and managed to confirm I did indeed have PPI and they supplied me with a policy number which was the loan reference too apparently

 

This also points to a premium being added to the loan

 

From Post #3

 

That's a good idea but NRAM claim that they do not hold details of PPI (which is why they made me call Pinnacle)

 

They will say anything on the phone to fob you off.

 

 

The only way to find out the amount of this PPI is to get a copy of the agreement or the figures from it, hence a SAR request to get ALL data that the lender holds on you. You will, I feel, be bashing your head against a brick wall if you try to get details out of them on the phone (although I would be happy to be proved wrong on this).

 

If it were me I would SAR them and don't forget to add the line about copies of agreements.

[davcom1]

Hi all,

 

As promised, I am updating my claim for PPI miss-selling on a Northern Rock loan.

 

Last week I decided to call NRAM to see if my complaint was being dealt with. This was an absolute nightmare - called the number provided on their correspondence only to be told I needed to call a different number (their Leeds office). Called that and was told that because I had no "T reference number" I had to go back to the original office. I got passed around like that 3 times before finally getting someone to help.

 

Anyway, I received a letter today saying that it seems I was wrongly sold PPI on TWO loans from Northern Rock. I had forgotten the first one but they confirmed as they had my previous, previous address.

 

The amount offered in the letter is £2149.14 which is about 4 times the amount I had hoped for/expected. The fact they dealt with the complaint within 8 weeks was a shock too.

 

BUT...

 

I really don't want to sound greedy here but there is a part on the "Calculation summary sheet" which is confusing me..

 

It starts of with "Refund of premiums paid" - £2558.49

Plus "8% simple interest" - £1254.59

Giving "Total refund" - £3813.08

 

But it then has "Minus: Paid PPI claims" - £1043.66

and "8% simple interest" - £620.28

"Total deduction" - £1663.94

 

Hence the £2149.14 settlement figure.

 

So does anyone know what the "Paid PPI claims" refers to?

 

I have not previously raised any complaint over the PPI with Northern Rock nor have I ever claimed on the actual insurance.

 

What I did do is repay the loan early - could this be what they are referring to??

 

I will call them on Monday but wondered if anyone had any thoughts.

 

Thanks,

 

David

[ims21]

Let them explain when you make contact with them.

 

Did you ever manage to get the agreement and record of repayments made?