CCA breach - covid repayment break

speed_ie

Does anyone have any experience if reclaiming interest because of a Consumer Credit Act breach because of a loan repayment break?

my loan provider didn’t show interest during the repayment period on the statement.

They also didn’t send any arrears notices.

[Deleted User]

If it was an authorised break, then they wouldn't send arrears notices.

Ask them how they treated interest and displaying it during that time. At best, this sounds like a small admin error that should be easily fixable, if not already fixed. You may be able to get a small goodwill gesture if there has been an error.

speed_ie

According to the FCA guidance if arrears notices were due, ie under CCA, then they should’ve been sent with an explanatory note saying that it’s an agreed arrears.

And interest has to be shown in all cases? Admin error or not 

sourcrates

But they did send you a statement yes ?

If so, then as has already been explained, the omission of any interest paid, is a minor breach, the punishment for such a breach would mean the creditor is not entitled to enforce the agreement during the period of his non-compliance, and the debtor is not liable to pay any interest during this period.

Did you pay any interest during this period ?

If you did, you have an argument to have it refunded.