bank loan--statement

black_taxi_2

i asked for a monthly statements for loan

lloyds(blackhorse)

told on phone they dont do them


are they required by law to send one if asked

immoral_angeluk

They won't do monthly statements like a bank will, but you can call up anytime and ask for a statement of your account to be sent.

foxgloves

Banks don't seem to do statements for loans. I used to have a Flexiloan from HSBC and they did do one, but I think this was unusual compared with other banks. I think it would be useful to get them, actually, whether paper or online because you'd be able to monitor the money owed going down with each payment and I think the loan would perhaps be less 'out of sight, out of mind' to the borrower. I wonder if they also make overpaying as untransparent as possible as they probably do better out of a person paying off full interest right to the end. On most loans, you can ring up for a balance and ask for a settlement figure to pay the whole lot off in one go, but I think that's about it.

Tixy

Lenders must send out annual statements for loans, but not more frequently than that. But they should give you a statement of account if you specifically call up and ask (although possibly if you call up every month they may be able to refuse?)

Melaniep101

Black Horse do send statements if you ask for them, not monthly ones but a statement of your payments and balance remaining.

black_taxi_2

banks must be embarressed if consumers find out the true cost of loans.

banks being able to avoid monthly statements on loans is another goal to them.

bailout 1/hide loan costs 1

banks 2
consumer 0

Tixy

The true cost of the loan should be clear from the original agreement?
I don't see how not having a monthly statement means they can hide costs?

black_taxi_2

i thought settlement figure is always diff from original figure each month