NRAM Together

[user1979]

Hi,

 

I have one of the infamous NRAM Together mortgages with the separate unsecured loan,

 

now a few years back following a relationship breakup I was struggling to pay the mortgage on my own so came to an agreement to pay the full mortgage amount but drop the unsecured element to a token payment of a couple of pounds a month.

 

Now fast forward to today

 

I'm still paying the token amount but NRAM haven't ever defaulted the unsecured loan and just report it to the CRA as sustained arrears,

 

I've been working hard to clean up my Credit record following mess from the split and this is the only thing left,

 

is there anything I can do to request NRAM to default it so it will eventually drop off,

otherwise it will be harming my Credit forever which seems very unfair?

[dx100uk]

sounds like you need to send them an SAR

get all the statements

as I bet you've heaps of various insurance to reclaim

and all manne of Penalty fees [arrears/letter/late/etc ]

 

all can be reclaimed

 

as fgor the CRA file

 

write and state the continued markers since xx date are unfair under ICO guidelines

 

could they please consider entering a backdated default equivalent to the third short payment.

 

dx

[bradfordlad]

Interesting point dx

 

I'm in a very similar position as the OP. I was actually at the point of writing to nram tonight when i came across this thread.

 

the Together loan is going to take 10+ years before the arrears are paid off and I wish they'd defaulted back in 2010 when everyone else did!

 

Can you elaborate on your statement about the arrears marker being unfair under ICO guidelines please?

 

Is backdating defaults a "thing"?! Never heard of that, and in principle it sounds like a good idea, but isn't there a danger that they could follow it up with court action?

 

I'm now in a position where I'm paying the normal payment and £30 off the arrears, although the interest rate is still at 0% which is nice to have, but if I could have the debt defaulted and backdated to 2010 then they could have just £30 a month! Tonight I Was going to write to nram and ask them nicely if they would consider capitalising the arrears onto the loan, and recalculating the payment over the remaining term, but I think I'd much rather go down the backdated default option.

 

Anyone any idea who I'd need to write to at NRAM?

 

Thanks for your insight as always, and apologies for hijacking the OP's thread

Edited September 7, 2016 by bradfordlad
added a bit

[dx100uk]

https://cse.google.co.uk/cse?cx=partner-pub-8889411648654839:6449422593&ie=UTF-8&q=ICO+defaults&sa=Search+CAG#gsc.tab=0&gsc.q=ICO%20defaults&gsc.page=1

[bradfordlad]

Thanks dx - some of the posts are quite old and documents don't exist, but there was one interesting post by Brigadier2JCS http://www.consumeractiongroup.co.uk/forum/showthread.php?416296-Defaults-the-ICO-has-published-new-guidance-(Jan-1-2014).&p=4475253&viewfull=1#post4475253

 

Here he (?) states that NOT registering a default would disadvantage the debtor in comparison to someone who makes no effort to pay their debts but has a default entry removed from CRA files after 6 years paid or not.

 

Is anyone aware of anywhere "official" I could quote this to nram? I've been googling it all morning and can't find a thing!!

[dx100uk]

in the ico guide line PDF

 

 

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off, paying now or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

[bradfordlad]

in the ico guide line PDF

 

 

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off, paying now or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

 

Thanks again! So the case comes down to this: nram should have issued a default notice when our loan was between 3 & 6 months in arrears. They didn't as we had an agreement to make reduced payments due to a self managed DMP. The arrears built up and 3 months ago I offered to reinstate full payment and £30 to the arrears.

 

I will now argue that according to ICO guidelines, they should have defaulted the account, and I am now requesting that they do as they should have done, and issue a backdated DN to the date when the account hit 6 months arrears (Obviously I'll check when that was), on the basis that we are being disadvantaged for maintaining some element of payment.

 

One more question then - as it's the unsecured element of a Together mortgage, would they be likely to try & secure the loan on our property? Presumably if we keep up repayment of the debt (accepting that the debt is wiped off just because they've defaulted) they wouldn't be allowed to secure it?

 

Thanks so much dx

[dx100uk]

theres much debate here and elsewhere that they shouldn't ever convert non secured to secured.

 

 

bottom line is they cant without going to court

[bradfordlad]

But we all know that what lenders can/can't do, versus what they ACTUALLY do are worlds apart!

 

I don't think it'd get past a judge if you were already making payments to the debt anyway.

 

I'll start my own thread about the proposed letter in case anyone else is looking for advice. Cheers