Getting a settlement figure for a loan that has been paid for nearly 20 years

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by lesley895 » Tue Apr 25, 2017 9:00 am
My brother has been paying a loan for nearly 20 years and he is trying to get a final settlement figure from the company they are being very unhelpful. They want to know how he has the money to pay them. I have two questions do they have to give him final settlement figure and is it any of there concern where he got the money.
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Michael Peoples
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by Michael Peoples » Tue Apr 25, 2017 9:31 am
You are always entitled to a settlement figure and if they continue to refuse go to the regulators.
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by Foggy » Tue Apr 25, 2017 1:42 pm
If it is a substantial sum they will want to know the source for money laundering regulations. But they should be able to give a figure at least, at this stage. You can ask the financial ombudsman to intervene -- though this is often a slow process.
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