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quick question re Car Loan

  • 08-10-2008 2:10pm
    #1
    *Dallas
    Closed Accounts Posts: 419 ✭✭


    Hey All,

    Not sure if I'm in the right place...

    I had a car loan with TSB and I paid the balance in full. I know this as I asked on the day of the last payment 'so im clear now' and the teller said 'yes'.

    Today, (a year and a half later) , I received a letter from the bank telling me I owe them €175. :eek:

    Now, I've moved house since but my mam still lives at the address, so i know she would have forwarded me any other post from them.

    I know they are a bank and if I don't pay my credit rating will be screwed so

    Is there any point in me kicking up a fuss? In a year and a half no other letters/invoices/statements have come from them.

    Im pretty sure Ive trown out any receipts I would have kept as I have a new car loan now.

    thanks


Comments

  • #2
    gogo
    Registered Users, Registered Users 2 Posts: 1,452 ✭✭✭gogo


    Loan statements on average only issue two to three times a year, and if a loan is cleared but the account left open, a statement won't issue as there is no 'movement' on the account, ie no lodgements, etc.
    What does it say on the statement? Is it interest accrued - you owe maybe on a small remaining balance in the loan, ie, there was still a small balance left to pay in the loan, and now with interest its 175.
    Obviously your first step is to arrange a meeting with the bank - pronto, if they are right and you still owe money, its proably accruing interest by the day.


  • #3
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    *Dallas wrote: »
    Hey All,

    Not sure if I'm in the right place...

    I had a car loan with TSB and I paid the balance in full. I know this as I asked on the day of the last payment 'so im clear now' and the teller said 'yes'.

    Today, (a year and a half later) , I received a letter from the bank telling me I owe them €175. :eek:

    Now, I've moved house since but my mam still lives at the address, so i know she would have forwarded me any other post from them.

    I know they are a bank and if I don't pay my credit rating will be screwed so

    Is there any point in me kicking up a fuss? In a year and a half no other letters/invoices/statements have come from them.

    Im pretty sure Ive trown out any receipts I would have kept as I have a new car loan now.

    thanks

    You need to pay a visit to the branch and talk to a manager about same. It would seem rediculus that you were told that the loan was cleared and be told that it actually isn't.


  • #4
    *Dallas
    Closed Accounts Posts: 419 ✭✭*Dallas


    thanks for the replies, the bank rang me back yesterday, turns out it was a mix up with another loan!

    thank god! just goes to show mistakes do happen

    thanks again


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