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Thread: Statement Frequency

  1. #1
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    Default Statement Frequency

    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 ??
    Have fun, I'm done..

    Laterz


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    Default 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
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    Default 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.
    Have fun, I'm done..

    Laterz


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    Default 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
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    Default 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?

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    Default Re: Statement Frequency

    Quote Originally Posted by grimbell View Post
    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
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    Default 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.

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    Default Re: Statement Frequency

    Grim, this should answer your question:
    Quote Originally Posted by CB
    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.
    Have fun, I'm done..

    Laterz


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