Today I received some disappointing news that the Financial Ombudsman will not uphold the complaint against the method of redress for loans under £25,000.
Having spoken to my contact at the Financial Ombudsman Service, he said surprisingly that NRAM had not not “broken” any laws and had come to an agreement with the regulator on an appropriate outcome.
We know here at the NRAM Action Group, NRAM have clearly broken laws and we should not settle for their chosen method of redress.
We should have a choice how we are compensated for the money illegally collected by NRAM, and of which, they profiteered illegally from.
There are other avenues open, all that this decision does is close one door of many.
More info will follow in coming weeks, but please be patient as this is a long process, however, I am confident of a positive outcome.