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Jim4646

Nram breaches of cca

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There was a problem highlighted with the wording in loan forms when secured loans under £25k were taken out. All loans paperwork have been looked at and I received a letter today stating

 

 

Some of NRAM communications taken out by certain customers did not comply with all of the requirements prescribed by the CCA.

 

They have stated they have looked at my paperwork and stated that as the loan taken out clearly states the purpose of the loan was for home improvements (Conservatory) this loan is specifically exempt from CCA regulations.

 

They then go on to say that there were references made to the CCA in the loan and account documentation that I have been sent in the past. These references were wrong and will not appear in future statements. We apologize for any inconvenience caused.

 

This reeks if the paperwork is wrong it is wrong surely - any advice?????

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There was a problem highlighted with the wording in loan forms when secured loans under £25k were taken out. All loans paperwork have been looked at and I received a letter today stating

Some of NRAM communications taken out by certain customers did not comply with all of the requirements prescribed by the CCA.

They have stated they have looked at my paperwork and stated that as the loan taken out clearly states the purpose of the loan was for home improvements (Conservatory) this loan is specifically exempt from CCA regulations.

They then go on to say that there were references made to the CCA in the loan and account documentation that I have been sent in the past. These references were wrong and will not appear in future statements. We apologize for any inconvenience caused.

 

This reeks if the paperwork is wrong it is wrong surely - any advice?????

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I too have had the same letter today.

 

A bit disappointing for those of us effected. Like you I am looking into it.

 

I think there may be more unhappy consumers led to believe that they qualify for redress and then find out they don't!!

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I have asked for a copy of the original loan agreement. I will then complain to NRAM following their complaints procedure and then think about going to the Financial Ombudsman. It seems dodgy to say this type of secured loan is not covered and then in the next breath state the wording was wrong. I have had PPI payouts for less of a cock up. Please keep me posted and I will do the same.

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Yeah will do.

 

None of my documents state the loan is for home improvements and I have had a look at the office of fair trading regulated and exempt agreements and it doesn't state anywhere on that site that home improvement loans are exempt. Take a look at the office of fair trading - Consumer credit - regulated and exempt agreements. Its all very confusing and I too will seek professional advice on this.

Good luck!!

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Letter of complaint emailled to NRAM Customer Relations and I have requested that if they are standing with this decision to furnish me with the full references regarding secured loan exemptions for home improvements contained in the CCA, and to mark their response "Final decision" to allow me to go straight into the Financial Ombudsman's complaint procedure. I too after spending a lot of time on the internet and telephone can find no links to confirm what NRAM say. They do not even qualify what they have said in these letters on their Q and A website! To say in one breath my loan was exempt from CCA regulations in one para and to go on in the next stating that there were references to my loan and CCA in my loan agreement paperwork being wrong, and apologising seems like an easy win?

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