Loan Statements

BetterDays

I have an old Cahoot loan which later became a Santander loan. Since Santander took ownership I have never received a statement.

I have been doing quite a bit of Financial research as part of some PPI claims. So from what I understand as part of the Consumer Credit 2006, Santander should have been sending me regular loan statements, is that correct?

I have just received a payment for a PPI claim against the loan, which would pay the remainder balance off. However would it be worth putting in another complaint regarding this, before I settle the loan?

jonesMUFCforever

Are you still paying or has it defaulted?

BetterDays

Still paying it

jonesMUFCforever

Then indeed you should have been receiving at least an annual statement - have you moved at all? At least you can ask them about it.

Daveahare99

They should be sending you regular statements.

I would say ask but as its all paperless now the obligation is on the borrower to keep there contact details up to date. So if you moved or something they have an excuse.

That said I have taken up a similar issue with both Natwest and the Student loans company. Who's answer basically came down to 'check it online'.

Its not right but in my experience you will probably just get an apology as opposed to any compensation.

Hope it helps.

PeacefulWaters

If you complain, you should get any interest charged refunded.

Escalate to the FOS if you don't.