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

[Katymac]

It came out of the blue

I feel a bit about it tbh

They can't end it early can they?

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

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.

8 yrs - unsecured personal loan

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

3 yrs left

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

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",

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.

Thanks

Oh that makes sense shonaspurtle - thanks everyone, panic over

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

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 although by default as worked for Bradfrod and Bingley for 11 years till they cocked up and we got bought out)