Statement Frequency

[Curlyben]

Hopefully this will be a quickie.

I know there was a recent change that requires OC's to send regular statements. Problem is I can't remember the required frequency or even what regulations are actually in force here.

I do remember that unless the OC complies with this they cannot demand payments until they comply.

Could any one help out a befuddled mind ??

[enaid]

Re: Statement Frequency

Well the lad has just had his from Lombard. It is an annual statement prepared in conjunction with the new CCA requirements. Maybe the regulations you are after are in there. Enaid x

[Curlyben]

Re: Statement Frequency

Cheers Di.
Yep I found the section: Consumer Credit Act 2006 (c. 14)

CCA 2006 s6 and it's an annual statement on the agreements anniversary.

[enaid]

Re: Statement Frequency

Yes it states the anniversary, the amount and length of loan and also what payments have been made, must now be forwarded

[grimbell]

Re: Statement Frequency

Ooh does this apply to all loans?

I have had my first ever statement from NR but also have a secured loan taken out in Feb 2006.

Have not had a statement from the secured loan so does this mean that if I don't get one by 31st Dec they are in deep doo doo?

[enaid]

Re: Statement Frequency

Ooh does this apply to all loans?

I have had my first ever statement from NR but also have a secured loan taken out in Feb 2006.

Have not had a statement from the secured loan so does this mean that if I don't get one by 31st Dec they are in deep doo doo?

Hi Grimbell,
Click on the link of CB's in his earlier post it gives you all the details on there.
Enaid x

[grimbell]

Re: Statement Frequency

Doesn't say what has to be in the statement though. The one I got from NR showed haw much the loan was at beginning and what has been paid, what is outstanding and interest rate.

If this is what has to be in it then it will be interesting to get one from secured loan as they never want to tell you anything.

[Curlyben]

Re: Statement Frequency

Grim, this should answer your question:

it's an annual statement on the agreements anniversary

Bear in mind this became law April last year, so your Feb 06 agreement was missed, but should be picked up this year.