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A 2014 claim lodged against a Credit organization in connection with the pecuniary claim filed against non-received information subject to disclosure under law on consumer crediting

The Client has signed a consumer loan contract with a credit organization. The Client notes that they did not receive monthly loan account statements for 9 months in a row, although the Republic of Armenia Law on Consumer Credit stipulates that the Creditor shall provide the Customer, at established time intervals but not less than a 30-day frequency, with information in writing about the consumer’s liabilities arising from credit agreement as well as repayments/installments. The Client indicates that no such information has been provided, so they lodged a pecuniary claim of AMD 300,000 against the Organization. Mediator decided to satisfy Client's claim. Read more...