First time poster but long time lurker, thanks to all that make this forum what it is, now looking for some advice:
I took a loan out with the Co-op Bank in August 2006.
In April 2011 I received for the first and only time an annual statement. Turns out that under the CCA 2006 and under the Banking Code of practice that I should have been receiving these all along. Also subsequently turns out that a dispute I had with the bank regarding a missing loan payment in January 2009 had not been resolved as I had thought but I had been blissfully unaware because of the lack of statements.
The bank didn't want to entertain my complaint so I took it to our friends at the FOS who despite making me wait 6 months to start the process seemed to be friendly and sympathetic. I was wrong. This is the upshot.
The bank have accepted that in 2006, 2007 and 2008 that they failed to send me an annual statement but say that this was because they were not required to do so. They say though that they did so in 2009, 2010. I am absolutely adamant that they didn't and are telling porkies if they say they did. The FOS have sided with the bank.
When I asked the adjudicator why they reached the decision she informed me that they rely on the integrity of the banks to tell the truth. In this case she said that the bank had stated that they had a copy of the statements 'on file' and they would assume then that they had been sent. Case dismissed. I've appealed to the Ombudsman but frankly don't hold out much hope.
Essentially then the bank have failed in their obligations under the CCA, have failed to send me statements and thus should refund me the interest from this period but it seems to get themselves off the hook, all they have to do is tell the FOS that they've been sent and la voila the case is dismissed. There's no extra proof required, no audit trail that needs to be shown, just tell 'em you did and you did.
I just feel I've spent the last 12 months or longer wasting time on a case that I was never going to win from the offset. The utterly frustrating part is that I know in my heart of hearts that statements haven't been sent but where do I go from here? Can anyone offer some assistance?