No Loan Statements For 3 Years

GeorgeUK

I suppose you could always call them and ask for a statement. If they say they don't do that, ask when they will be sending them out to comply with the changes to the consumer credit act. Looks like that may be the only way to find out.

rugbymum

I'm guessing that the others were following best practise and getting ready for when they "had" to. Truth be told one of the statements has come from a creditor with whom I have only had an agreement since November 2007. It does only cover the period 30/09/08 - 31/10/08 though!

tyllwyd

GeorgeUK wrote: »

Great find there tyllwyd - i was struggling through the actual act to see if it mentioned anything about when the enforcement would be.

If it's a big act, they very seldom give information on commencement for the whole thing in the statute itself, so it's usually a matter of trying to piece together information and find commencement orders. I quite often have to try to find out that kind of information in my work, and I usually end up googling to find updates & newsletters published by solicitors and working backwards from there - not exactly a logical way of doing things! There is a new statute law database (www.statutelaw.gov.uk), that should make things better in the long run, but it isn't up to date at the moment so that's not very helpful.

rugbymum

Thanks for all your help today guys.
this is what I will send back:

Dear Sir
Re: Agreement Number ********
I refer to my letter dated 4th November 2008.
While I appreciated your response dated 13th November 2008, it does not contain the information I requested.
You state in the letter that you have sent a balance of my account under the terms of the Consumer Credit Act 1974 because my account is in arrears.
I would like to point out the following; Section 6 of the Consumer Credit Act 2006 inserts a new section (s77A) whereby a statement must be provided if the agreement is a fixed sum credit agreement under section 77A. The statement should explain the money borrowed, money paid, interest in all cases and the outstanding amount.


I asked for an up-to-date statement which contains a breakdown of all fees, charges & interest.
I do not believe that the information I have received could be interpreted as a statement and I ask you to please forward the information requested.
I look forward to your swift response in this matter

Any thoughts?

rugbymum

PS i should have said that they sent a balance of total amount owing. They said in the letter this was because i was in arrears on my account! cheeky toads!

rugbymum

Sorry, bumping cos' I want to catch the post.

GeorgeUK

I think what you have put is fine.

rugbymum

GeorgeUK wrote: »

I think what you have put is fine.

thank you George