No statements?

orvil01

Hi, I'm new here and hoping someone can help.

I have a credit card, which has a balance of around £3000, I have a monthly direct debit which takes the minimum amount each month. My issue is I haven't received a statement or any correspondence from them for at least two years. The card is closed so I am just paying off the debt - can the lack of statement get me out of paying?

Thanks

yangptangkipperbang

No - but if you close your eyes, count to a thousand and say "abracadabra" 73 times, backwards - that will write off your debt.................... at least, that's what someone told me...........

Tixy

No.

But they should be sending you a statement at least annually. I'd write to the credit card company and ask for an up to date statement and ensure they have the correct address on file for you.

iAMaLONDONER

orvil01 wrote: »

Hi, I'm new here and hoping someone can help.

I have a credit card, which has a balance of around £3000, I have a monthly direct debit which takes the minimum amount each month. My issue is I haven't received a statement or any correspondence from them for at least two years. The card is closed so I am just paying off the debt - can the lack of statement get me out of paying?

Thanks

Personally I think that you should pay off the debt completely before closing a card to avoid this happening!

jonesMUFCforever

Looks to me that the card is in collections or at a debt recovery service.
Otherwise you would be getting a monthly statement.


Contact them for an update.

happy_bunny_2

What does it show as on your credit report?

yamsteroo

I'd a similar thing with EGG a few years back - they suspended my account and from them on I was just repaying the debt left on the account. Because I'd always had online statements and I was making at least the minimum payment required, I don't think I received paperwork from them for a few years until I entered a DMP which prompted a few letters while that got put in place and they then started to send updates ever 6mths or so as I was now paying outside the original agreement.


If you're making minimum payments and keeping to the original credit agreement I don't think they're obliged to send 6mthly updates but maybe someone more knowledgeable could correct this if I'm wrong? They certainly won't write the debt off for this reason

[Deleted User]

iAMaLONDONER wrote: »

Personally I think that you should pay off the debt completely before closing a card to avoid this happening!

Pay off the debt completely, I bet all the DFW on this forum never thought of doing that. What a revelation, glad I was sitting down when I read that,

asparagus1968

no.


can you check on-line to see how you are doing?
you will however be paying for a very long time at only minimum amount. look at the "snowball calculator"

are you struggling to pay the minimum? you could ask one of the free debt help charities-stepchange, national debtline, Christians against poverty( you don't need a religion for this one btw)

good luck

sourcrates

orvil01 wrote: »

Hi, I'm new here and hoping someone can help.

I have a credit card, which has a balance of around £3000, I have a monthly direct debit which takes the minimum amount each month. My issue is I haven't received a statement or any correspondence from them for at least two years. The card is closed so I am just paying off the debt - can the lack of statement get me out of paying?

Thanks

How old is the debt ? when did you open the card account ?

Generali

orvil01 wrote: »

Hi, I'm new here and hoping someone can help.

I have a credit card, which has a balance of around £3000, I have a monthly direct debit which takes the minimum amount each month. My issue is I haven't received a statement or any correspondence from them for at least two years. The card is closed so I am just paying off the debt - can the lack of statement get me out of paying?

Thanks

AIUI the way it works is:

1. You borrow £3,000
2. You repay £3,000 plus interest

If you don't want to get as far as #2 then don't get as far as #1.

Someone has to repay this money to the bank. If you don't then then rest of us do. It's pretty damn selfish to expect the rest of the world to pay your debts. You spent it, you repay it.

HTH.