Loan statements

[Deleted User]

Unfortunately, due to economic factors and a serious accident I had to put my limited company into liquidation last year.

I had a personal guarantee on a large business loan which was secured with a second charge against my house. Fortunately I have managed to secure a new job so I am continuing to make the £1500 per month payments for the loan. It will take me another 5 years to clear the loan.

I used to have online access to the loan account through my business banking so I could keep an eye on how the capital amount was reducing each time the payment was made. Now the business account has been closed and the debt has been passed to me personally i no longer have this facility.

Also, I used to receive an annual paper statement giving me an update of the loan - amount paid, outstanding etc. This would have been due in January but again I have received nothing.

I would really like to be able to monitor the payments. Obviously paying £1500 per month for 5 years is causing me considerable hardship (its my entire salary - my partner is supporting me) and I would like to have some way to keep an eye on the payments. At the moment I simply have a standing order set up from my personal account going out to Lloyds TSB every month.

Can i request that Lloyds send a statement to me personally as they have called in my personal guarantee to repay the debt?

thatsean

You can ask them whatever you like, it doesn't seem entirely unreasonable. but if it's not a standard service offering they may want to charge you if it's not something that they can do simply on their systems. Why don't you speak to your old business account manager and see what their thoughts are? I'm sure you're entitled to at least an annual statement, so they obviously have a way of doing it.