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Question Re Section 77A Consumer Credit Act

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I had a fixed term loan between 2010 and 2012 which I paid off when I moved house.

I sent a SAR as i wanted to check on the charges levied during this loan and have received all the documents back.

The annual statement summary received during the loan only stated

- Date of agreement

- Duration of agreement

- Amount of credit

- Gross loan

- Payment protection premium

- Staement period

They did not show the interest rate, balance of the loan or any payements made.

Reading Section 77a of the consumer credit act. As they haven't shown those details then my understanding is that I didn't have to pay any interest during the period which the statements weren't compliant. Is my understanding correct and if so am I able to claim back the interest when I claim other charges frrom them?

Thanks

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Payment protection premium aka ppi.

You can start claiming that back.

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Who is the oc?

Just because they have sent those details no

Itd only if you were in arrears really

They must send a NOSIA letter

 

Get that ppi done

Use our statint sheet and the fos questionnaire


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Assuming there was no arrears....did you not actually receive statements whilst the agreement was live.....Monthly /Quart/Annually ?

 

(4)The creditor is not required to give the debtor any statement under this section once the following conditions are satisfied—

 

(a)that there is no sum payable under the agreement by the debtor; and

(b)that there is no sum which will or may become so payable.

 

 

Whilst the agreement was live.....

 

(6)Where this subsection applies in relation to a failure to give a statement under this section to the debtor—

 

(a)the creditor shall not be entitled to enforce the agreement during the period of non-compliance;

(b)the debtor shall have no liability to pay any sum of interest to the extent calculated by reference to the period of non-compliance or to any part of it; and

©the debtor shall have no liability to pay any default sum which (apart from this paragraph)—

(i)would have become payable during the period of non-compliance; or

(ii)would have become payable after the end of that period in connection with a breach of the agreement which occurs during that period (whether or not the breach continues after the end of that period).

 

 

https://www.legislation.gov.uk/ukpga/1974/39/section/77A

 

Andy


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Did you ask for a SAR or a CCA?

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