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Abbey have just sent me a loan statement - it's the first one in 5 yrs; are they trying to tell me something?

(11 Posts)
Katymac Sun 18-Oct-09 18:39:24

It came out of the blue

I feel a bit hmm about it tbh

They can't end it early can they?

ramonaquimby Sun 18-Oct-09 18:40:26

do you not get yearly statements? how many years was the loan for?

eyetunes Sun 18-Oct-09 18:41:37

what does it say? How much longer have you to go on the loan. They probably should have sent you one for years but only just discovered it hasn't happend.

Phone them up.

Katymac Sun 18-Oct-09 18:42:15

8 yrs - unsecured personal loan

i never had one before (I file EVERYTHING.....I am very sad)

Katymac Sun 18-Oct-09 18:46:20

3 yrs left

I have some other debt atm & I have been looking round for a good loan

risingstar Sun 18-Oct-09 18:47:45

we suddenly got loan statements for our car loans from Abbey that we had never had before ( the companies had been taken over by Abbey).

probably someone at abbey has done an audit and discovered that the loan monkeys haven't been pushing the right buttons.

if you have made all the payments they would not recall the loan, they might flog it to another company but one would assume that you are paying more interest on it than they could charge now,so little incentive.

one thing worth checking, my sister had a loan statement from abbey and they had added three months to the term...turned out to be a "mistake",

shonaspurtle Sun 18-Oct-09 18:49:42

I think there is some new legislation re: sending annual statements. Dh works for a finance company and I'm sure I remember him saying this.

Katymac Sun 18-Oct-09 18:50:14

Thanks

Katymac Sun 18-Oct-09 18:51:20

Oh that makes sense shonaspurtle - thanks everyone, panic over blush

brockleybelle Sun 18-Oct-09 18:54:22

as shona says, it is new legislation that the government introduced: companies have to send annual statements to customers they've lent to.

eandh Sun 18-Oct-09 18:56:18

yes we got a statement for our sofa credit (even though its 0% and we have had it for 2 years) and all finance companies must send annual statements now (I work for Abbey blush although by default as worked for Bradfrod and Bingley for 11 years till they cocked up and we got bought out)

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