Do I have a right to a Statement of Account from my lender?
Last updated: 2026-07-10 · Educational content; not legal advice.
Short answer
Yes. RA 3765 (Truth in Lending Act) §4 requires a lender, before you become obligated, to disclose to you in writing the amount financed, the finance charge, and the effective interest rate — and RA 11765 (Financial Products and Services Consumer Protection Act, 2022) gives every financial consumer a continuing right to clear information about their account. A lender that refuses to itemize what you owe, or that hid the finance charge at the outset, violates RA 3765 (penalty: fine ₱1,000–₱5,000 or 6 months–1 year imprisonment). LabanPH generates the written demand that puts your lender on the clock.
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Frequently asked
What must a Truth-in-Lending disclosure contain?
RA 3765 §4 requires the cash price/amount financed, any down payment, the finance charge in pesos, the effective interest rate, and the schedule of payments — all disclosed to you in writing before the transaction is consummated.
They never gave me a disclosure statement — what does that mean?
Non-disclosure is itself a violation of RA 3765 and evidence for a BSP (bank-affiliated) or SEC (financing/lending company) complaint. Courts have also refused to enforce undisclosed finance charges.
How should I ask for the Statement of Account?
In writing, requesting an itemized breakdown of principal, interest, penalties, fees, and every payment credited. A written request starts a documentary trail and, under RA 11765, obliges the provider to respond through its consumer-assistance mechanism.
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