Loan annual statements

KRB2725

After finally deciding to get my financial affairs in order, I discovered that I have never received an annual statement for my loan. It was only after reading this forum that I knew I should have had one. It was taken out in July 2010 on a 7 year term.

After speaking to the bank, it transpires that they have been sending my statements to an address I left in 2004. My current account is with them & I also hold a credit card. It is only my annual (they actually send them 6 monthly though apparently) statement that has been going there, everything else, including my annual credit card statement has been sent to me at the correct address.

I had moved twice since leaving this address & had informed the bank on both occasions.I am assuming that as the bank have been sending the for several years that the post has not been returned to them.

Would this be classed as them not sending me an annual statement & therefore could I claim back the interest paid as they have not complied with the CCA by providing it?

I realise that there is also a moral argument, but I am too upset about them sending my personal information to someone else to care much at the moment. I am very private about my finances, mainly due to embarrassment at how useless I am with money.

sourcrates

Its a bit of a Gray area this, yes and no, it could be argued the bank should of updated there systems, and have failed to do so, thus they have been negligent.

It would depend if they see that as good enough reason to refund interest, but having said that, its always worth trying in my opinion.

I should add that failure to send annual statement not only warrants the refunding of interest paid for that period, it also makes the account unenforceable for the period you have been without statements, also any charges that may of been added, are also unenforceable, as long as the breach continues.

http://www.dailymail.co.uk/news/article-2817564/Tesco-bank-pay-43million-statement-blunder-hit-175-000-customers.html

KRB2725

Thank you.

I have never made a late payment on the loan, so have never incurred any fees other than the interest. They are sending me the last four statements within the next 7-10 days. The mistake happened as the address had been put in as a 'service address', but when I took out the loan it wasn't even my previous address.

I have complained, I only found out on Monday and they have said they will respond within 4 weeks.