Unenforceable Overdrafts - CCA Information

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=Never-In-Doubt;560304]its section c39 (VA)
See post 1 & 2 in this thread.[/QUOTE]

Yes, I've been looking at that - from my reading they need to be able to produce the original agreement. I have had my account since 1975, and I have no recollection of signing any agreements subsequent to that, although a simple current account has 'growed' (like Topsy) into a huge and unmanageable beast

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

If it's pre 19/05/1985 then that changes everything. Pre-CCA legislation ;)

--> [URL]http://www.johnpughschambers.co.uk/Consumer_Credit_(Agreements)_Regs_1983.pdf[/URL]

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=Never-In-Doubt;560314]If it's pre 19/05/1985 then that changes everything. Pre-CCA legislation ;)

--> [URL]http://www.johnpughschambers.co.uk/Consumer_Credit_(Agreements)_Regs_1983.pdf[/URL][/QUOTE]

Bloody hell - that's going to take a while to plough through! Any chance of an interpretation (i.e. is it better or worse?). I am assuming from the wink that it's better...

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

No mate - it's worse. You've no CCA protection at all as it was taken out before the relevant parts of the CCA came into effect.

The wink is cos that's from our barrister ie John Pugh ;)

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

Thanks - and bugger!

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=debtguy;560352]Thanks - and bugger![/QUOTE]I'd not overly worry - there is always other things to look out for.... follow the guidance in this thread and if they get really heavy with threats then let us know and we'll help you to bat them away for a while.

Point is, once it's sold to a DCA you could always make a cheeky £2k offer to settle it - which is why we say when you follow the UE route to try and keep saving a little bit each month instead of the payments as the saved funds can always be offset against any threats where you know you have no legal options to defend.

Does it make sense? If not fire away..... :beer

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

Makes lots of sense, and I'm saving up. Got an endowment payment that matures in a few months time, and at the moment we have NO chance of paying anything, but once the endowment comes in we could do the cheeky offers thing. Rather not though!:)

But if nothing else that would have bought us time.


And don't forget that we're abroad...

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=debtguy;560362]Makes lots of sense, and I'm saving up. Got an endowment payment that matures in a few months time, and at the moment we have NO chance of paying anything, but once the endowment comes in we could do the cheeky offers thing. Rather not though!:)

But if nothing else that would have bought us time.


And don't forget that we're abroad...[/QUOTE]I know mate - you'd never jump in offering money - I am talking worse case, ie they issue a claim and we assess it and determine that it's best to settle. That's the kind of scenario where you'd make an offer in my book lol

Yes, you're lucky sunning it up - I know :lol

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

Thanks - v encouraging. It's great not to feel all alone, and knowing about John Pugh is great too. Can you remind me of the name of Jo's firm? I had that noted down somewhere but I can't find it.

Watched the film 'The Big Short' yesterday, about the subprime debt crisis and 2008 crash, and it made me even more determined not to give these bastards a penny if I can possibly help it. Great film though

[COLOR="silver"][SIZE=1]- - - Updated - - -[/SIZE][/COLOR]

P.S. Not very bloody sunny today! :(

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=debtguy;560372]Can you remind me of the name of Jo's firm? I had that noted down somewhere but I can't find it.[/QUOTE] Joanna Connolly Solicitors. -> [url]http://joannaconnollysolicitors.co.uk[/url]

[QUOTE=debtguy;560372]Watched the film 'The Big Short' yesterday, about the subprime debt crisis and 2008 crash, and it made me even more determined not to give these bastards a penny if I can possibly help it. Great film though[/QUOTE]I thought it was a good film, weird how only one guy had a conscience and knew it was wrong what they were doing..... ;)

[scottygees]

Re: Unenforceable Overdrafts - CCA Information

Thanks for the reply. In a nutshell the current account was opened in 1989/1990 with Yorkshire Bank, debt now owned by Cabot. I was given an authorised overdraft which was constantly reviewed and increased up to a limit of £2200. I will admit that circumstances meant that it was always maxed out and that sometimes I went over its limit. Indeed looking at my noddle report confirms this. I have been paying towards this on my DMP and the balance is now in the region of £950. . So what I really need to know,now that I am going down the CCA route, is whether it is worth sending the CCA letter to Yorkshire Bank/Cabot or will it be a waste of time due to the outcome being inevitable?

Thanks in advance


[QUOTE=Never-In-Doubt;560278]If charges were the sole reason you went overdrawn it wouldn't make it UE; no. However you'd have a huge defence to get it sorted via FOS etc long before a claim was issued.

If a claim was issued we'd likely be arguing that the debt arose as a result of the banks actions. Not those of you.

You send the CCA to whoever owns the debt so in your case it has to be the DCA.

You need to bear in mind that if you had an authorised OD and maxed it out then charges put you over its tough luck BUT it'll then be a regulated agreement as such. However if you did not have an agreed OD and charges forced you into an OD position you've got a great chance of success. There's two scenarios and of those one will always apply.

1. You had an authorised OD and charges put you over your limit - (you could argue but likely you'd lose)...
2. You didn't have an authorised OD but charges etc put you into an unauthorised OD - (you can argue and it's likely you'd get a result)...

In both cases, s.74 applies.[/QUOTE]

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

Have you been sent an annual statement of arrears & default sums? Have they sent any formal letters cancelling the OD?

[scottygees]

Re: Unenforceable Overdrafts - CCA Information

No I have not been sent anything since the account got added to my DMP..This account was in my name and then from a convenience point of view my wife was then added o the account and I don't remember her signing anything at the time.[QUOTE=Never-In-Doubt;560428]Have you been sent an annual statement of arrears & default sums? Have they sent any formal letters cancelling the OD?[/QUOTE]

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

It's UE if they've not issued annual statements so keep that under your hat.

Regards your mrs being added. That's pretty naughty - they can't convert sole -> joint without you requesting it.

[scottygees]

Re: Unenforceable Overdrafts - CCA Information

I am sure we requested adding my wife to the account but I am also sure that we didn't have to sign anything.So should I still send the CCA request for this account?

[QUOTE=Never-In-Doubt;560454]It's UE if they've not issued annual statements so keep that under your hat.

Regards your mrs being added. That's pretty naughty - they can't convert sole -> joint without you requesting it.[/QUOTE]