No contact from lender, what’s my rights

Ashfreel13

My boyfriend was honest with me in June 2018 and had taken a few pay day loans. We applied for a mortgage and obviously he couldn’t get one. It’s all in my name. I asked him for a list of all outstanding, we paid all off and we have signed up to clear score and 2 applied for a credit card for him and 2 and a half years down the line we have been working hard to get him back on track. I randomly applied for Experian and a £100 lending stream is outstanding from 2018. He is heartbroken he thought he had paid everything off. We have the money to pay it off he thought he had in 2018. What rights do we have when they haven’t tried to contact him? We r happy to pay but surely a letter, a call, an email if this hasn’t been chased we have some rights. We have worked so hard for over 2 years and this has put us right back? I will put a complaint in and hopefully get it fixed but just wondered if there was any rights

sourcrates

What are you complaining about ?
Your statutory rights remain unaffected.

If he failed to pay as per his original agreement, then the company will have made a commercial decision whether to chase the debt up or not.

It appears in this case they have let the account go delinquent, for whatever reason, how is it marked on his credit file, late payment/default/green something else ?

finalfantasist

You (he) have the right to pay it off.

I don't see what there is to complain about, your boyfriend should have kept track of who he borrowed money from and if he's moved since taking out those loans it's not their responsibility to hunt him down.

Ashfreel13

I do understand it his responsibility but not receiving 1 piece of documentation to remind him of the loan in 2.5 years is not responsible. They had an incorrect email address and have confirmed the have posted nothing. I have raised a complaint so will just see how we get on. Thanks 

sourcrates

The OP`s boyfriend has been paying his debts, it was an account he forgot about, easy to do, cut him some slack. Under the consumer credit act, sec 77A/77B, a creditor has a duty to supply a statement at least once every 12 months.

There is a penalty for not doing so.
Paragraph 6 states -

Where this subsection applies in relation to a failure to give a statement under this section to the debtor—

(a) the creditor shall not be entitled to enforce the agreement during the period of non-compliance;

(b) the debtor shall have no liability to pay any sum of interest to the extent calculated by reference to the period of non-compliance or to any part of it; and

(c) the debtor shall have no liability to pay any default sum which would have become payable during the period of non-compliance.

Consumer Credit Act 1974 (legislation.gov.uk)

finalfantasist

sourcrates said:

The OP`s boyfriend has been paying his debts, it was an account he forgot about, easy to do, cut him some slack. Under the consumer credit act, sec 77A/77B, a creditor has a duty to supply a statement at least once every 12 months.

There is a penalty for not doing so.
Paragraph 6 states -

Where this subsection applies in relation to a failure to give a statement under this section to the debtor—

(a) the creditor shall not be entitled to enforce the agreement during the period of non-compliance;

(b) the debtor shall have no liability to pay any sum of interest to the extent calculated by reference to the period of non-compliance or to any part of it; and

(c) the debtor shall have no liability to pay any default sum which would have become payable during the period of non-compliance.

Consumer Credit Act 1974 (legislation.gov.uk)

If he'd paid it this thread wouldn't exist.

And the rest of your post is irrelevant, we're not talking about defaults under the Consumer Credit Act.

sourcrates

finalfantasist said:

sourcrates said:

The OP`s boyfriend has been paying his debts, it was an account he forgot about, easy to do, cut him some slack. Under the consumer credit act, sec 77A/77B, a creditor has a duty to supply a statement at least once every 12 months.

There is a penalty for not doing so.
Paragraph 6 states -

Where this subsection applies in relation to a failure to give a statement under this section to the debtor—

(a) the creditor shall not be entitled to enforce the agreement during the period of non-compliance;

(b) the debtor shall have no liability to pay any sum of interest to the extent calculated by reference to the period of non-compliance or to any part of it; and

(c) the debtor shall have no liability to pay any default sum which would have become payable during the period of non-compliance.

Consumer Credit Act 1974 (legislation.gov.uk)

If he'd paid it this thread wouldn't exist.

And the rest of your post is irrelevant, we're not talking about defaults under the Consumer Credit Act.

I am talking about statements under the consumer credit act, which is what this thread is about, what are you talking about ?

who mentioned anything about defaults ? ? ?

Last time I looked payday loans were regulated by the consumer credit act, and as Lending stream are a payday lender, I would assume it would be very relevant.