WHat should I do about paying a monthly installment with no statement?

Question

If you haven't heard Crescent Jewelers went bankrupt and a company, SST, took over the loans. I'm one the unfortunate consumers, and they already mishandle two of my payments, one of which was three times the min. I want to know if they can't provide me a statement, how are they coming up with a min fee? And what precautions should I take to avoid over paying? It's been 4 months and they are still going over everyone's loan, yet they havent cleared mines....

Answer 1

Regardless of whether or not you received a statement, you must still make a payment.

Consumers mistakenly believe that statements are mandatory, they are not, they are a courtesy.

Answer 2

I would demand statements...P***k that...

Answer 3

call the better business bereau (or equivalant to where you live). As far as I understand at least in Canada, if the yare not providing you with a monthly statment or bill you don't have to pay them. But double check you don't want your credit to go down the toilet!

Answer 4

Contact SST and ask for a statement. In this letter ask them to explain the min payment, interest rate, etc....

Don't pay anything until then and only use traceable methods of payment, preferably money orders.

Answer 5

You legally don't have to pay until a statement is received.