Does lender have to provide a monthly statement?
Posted by MarkAug 8
My student loan lender has stopped providing a monthly statement for my loan (either on paper OR online). They wrote to me that they are having internal difficulties and will start providing statements again when and if they get them resolved. Three months have passed and I just have to "assume" that my payments are getting credited properly. Payments are still due every month, of course. Do I have any right to receive periodic bills or statement of my account, or it is a pure courtesy on their part?
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Maybe you should make a call to the FTC or your attorney general in your state to find out if they are supposed to be supplying that info to you. Sounds very odd to me that they can just say, we are having internal difficulties and IF or when we get it fixed we might start sending those things out again..sounds lame!!! You are right to be worried as to whether your account is being credited accurately. This sounds just odd, that you can’t even check it online…I would definately do some investigating and not let a whole lot of time slip by.