Have they forgotten about my loan?

Jaxy2016

I recently got approved for a loan to buy a car, (£9000) the funds were allocated to my account in May and I transferred funds to the car dealer in June. However the bank have not set up the loan - it's not on my list of accounts and there have been no payments from my account to pay it.


Am I duty bound to tell them or leave it and hope they never notice?

[Deleted User]

I'd be contacting the bank.

At the very least, I'd be checking my credit files to see what was showing there and whether I was in arrears.

If you do neither of the above, at least keep the payments to one side for when they come calling for them

Proxima_Centauri

Jaxy2016 wrote: »

I recently got approved for a loan to buy a car, (£9000) the funds were allocated to my account in May and I transferred funds to the car dealer in June. However the bank have not set up the loan - it's not on my list of accounts and there have been no payments from my account to pay it.


Am I duty bound to tell them or leave it and hope they never notice?

I would say you'd have a hard time convincing them that you'd forgotten that you'd borrowed £9000 from them.

flashgordon666

the council didn't charge my gf tax for a couple years she thought they forgot then one day she got a letter saying it was a error and they wanted all of it. Even if they forget or its a error they will get it back...:(

marcarm

Deleted_User wrote: »

I'd be contacting the bank.

At the very least, I'd be checking my credit files to see what was showing there and whether I was in arrears.

If you do neither of the above, at least keep the payments to one side for when they come calling for them

The most sensible thing you can do, apart from contacting them, otherwise there will be a thread on here in the near future with the OP being asked to make all the arrears up and they haven't got the money.

DCFC79

Jaxy2016 wrote: »

I recently got approved for a loan to buy a car, (£9000) the funds were allocated to my account in May and I transferred funds to the car dealer in June. However the bank have not set up the loan - it's not on my list of accounts and there have been no payments from my account to pay it.


Am I duty bound to tell them or leave it and hope they never notice?

Call them friday or at the weekend otherwise it will come back to bite you when they want a lump sum and you don't have the money as it's been spent.

PeacefulWaters

Watch your credit file get trashed!