Statement information

Elfinpie

Hi,

Please could anyone tell me if a company with whom you are in an arrangement to pay with should provide a breakdown of what you owe each month? I had to enter into an arrangement to pay with Argos at the beginning of 2015 where they stated my full balance was due. I continued to receive statements showing the payments I was making, the interest and the current balance but no arrears were listed on there. Should they have been?

Many Thanks

FireWyrm

You are entitled to full information regarding what you owe to a company, but in practice, the mechanism to provide this information simply isnt available. You could write to them requesting this information but they might view it as a Subject Access Request for which you would need to pay. You shouldnt, and it should be free, but at the end of the day, someone needs to physically collate this information for you. Even if you asked a bank for back statements, they would still ask for a nominal payment (not so nominal in the case of HSBC, the sods wanted £10 from me the last time I asked).

Elfinpie

Thank you for your response
Ah right, so they don't have any obligation to inform me of my arrears balance on monthly statements then. I thought the arrears part of my balance had been paid and only when I checked my credit record saw I'd been paying them 'late' for 2 years (I'd been paying an arrangement plan, above the monthly amount that would have been due, on time for months). I'll go ahead and ask for a full breakdown from them then. Thanks again for replying