RBS loan statement 30 May 2012 at 2:19PM edited 30 November -1 at 1:00AM in Loans 2 replies 655 views

nikkiuk

On Friday we are due to make the final payment for our joint RBS loan-it's been a long time coming! The original loan started in May 2005 and was a consolidation loan. Throughout that time we have never had any paper statements in regards to the loan, but have been able to check the status of it by logging on to our RBS internet banking.
On Monday I recieved a statement showing the payments on the loan from May 2011 and today the exact same statement arrived in my husbands name (it's a joint loan!). I just wondered what possible reason the would have to suddenly send us 2 seperate paper statements a week before the loan will be completed when they never have before? Is this something that they have just started doing? Am I reading too much in to it and is is completely normal?

TIA

InsideInsurance

The consumer credit act changed, cannot remember the exact date, and introduced the requirement for all debts going over 12 months that a statement must be generated annually and sent to the debtors.

At a guess, this is the first anniversary you have had since RBS made the changes to comply with the legislation.

nikkiuk

Thank you, that makes perfect sense!