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Lucy, Esq.
Lucy, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 29985
Experience:  Lawyer
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This is a continuation of our conversation regarding a 30 day late

Customer Question

hi this is a continuation of our conversation regarding a 30 day late on my heloc loan. I have one more question: my heloc loan statement/bill is only accessible if I go online and log on (I do not get any bills). I did not have a choice for this. Doesn't the bank have an obligation to send me a bill?
Submitted: 2 years ago.
Category: Consumer Protection Law
Expert:  Lucy, Esq. replied 2 years ago.
Hi, My name is ***** ***** I'd be happy to answer your questions today. The Truth in Lending Act, Section 226.7 requires lenders to "furnish" periodic billing statements on open ended accounts. If you click the link, there's a very long list of what that statement needs to contain. The statute doesn't define "furnish," but the general definition is "to provide or supply." The statute doesn't require that the statement be mailed. When you first opened the account, there should be paperwork somewhere in everything you signed where you agreed to receive online statements. You may want to go back and look through everything or ask if the bank can provide you copies of that agreement.. But technically, if they say "We only do online statements," and you get the loan anyway, you've agreed to receive the statements via email. If you have any questions or concerns about my response, please reply WITHOUT RATING. It's important that you are 100% satisfied with my courtesy and professionalism. Otherwise, please rate my service positively so I am paid for the time I spend answering questions. If you are on a mobile device, you may need to scroll to the right. There is no charge for follow-up questions. Thank you.
Expert:  Kent-cssm replied 2 years ago.
We received your customer service inquiry, however, we are unable to respond to you because we do not have your email address. Please contact customer support at***@******.*** and provide us with your email address and a link to this question page so that we can help you. (
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Customer: replied 2 years ago.
hi, my bank has said they are legally obligated to report a 30 day late payment to the credit reporting agencies and there is nothing they can do about it. Is this true? The 30 day late was my fault because I thought I had set up auto pay but had not.