Unenforceable Overdrafts - CCA Information

[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

Thanks - and bugger!

[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

[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

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;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

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=Never-In-Doubt;560298]You did. Quoted from the DCA. It's the DCA I'm saying are at fault. Not you.

-> [URL]http://forums.all-about-debt.co.uk/showthread.php?4904-Unenforceable-Overdrafts-CCA-Information&p=559774&viewfull=1#post559774[/URL][/QUOTE]

Ah - I see! Excellent - thanks...

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=debtguy;560300]Doesn't the S74 protection mean that they need to produce the original agreement, or does this not apply with overdrafts?[/QUOTE]its section c39 (VA)

See post 1 & 2 in this thread.

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=cardiac arrest;560292]So if you have an agreed o/d of say £100 and just overspend by £50 (with no fees) is this not good in terms if having a defence ?

Likewise If you do not have an agreed overdraft but just go overdrawn by £150 is this not good either ?

I'm a bit confused...(as usual) .[/QUOTE]If you didn't have one we'd not be having this discussion :lol

If you have one then it's regulated.

Basically.

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=Never-In-Doubt;560284]Yes. That's correct. You now have s.74 protection.
So in essence your OD is regulated and the bank must send annual statements & notices of sums in arrears etc.
Let's assume you tried to defend a claim based on the unlawful / excessive charges alone; you'd likely lose the claim but might get a small reduction to compensate unfair charges - it's up to the judge really (their discretion). If however the bank hasn't complied with regs (s.86 etc) you'd then argue that and [B]could[/B] win and get the whole balance wiped (as UE) and the judge is bound by statute.
In your case, you are £15k OD (in limit). Charges exceeded the limit so it's become regulated and the bank [B]must[/B] now start to send regular statements and sums of arrears notices. If they don't it'll be UE.
;)[/QUOTE]

Doesn't the S74 protection mean that they need to produce the original agreement, or does this not apply with overdrafts?

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=debtguy;560296]I didn't post that bit! Can't find it in the thread either, so not sure what it's about - I think I must have quoted someone else without realising![/QUOTE]You did. Quoted from the DCA. It's the DCA I'm saying are at fault. Not you.

-> [url]http://forums.all-about-debt.co.uk/showthread.php?4904-Unenforceable-Overdrafts-CCA-Information&p=559774&viewfull=1#post559774[/url]

[debtguy]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=Never-In-Doubt;560282]Ermmmm - that's not entirely accurate. ;W[/QUOTE]

I didn't post that bit! Can't find it in the thread either, so not sure what it's about - I think I must have quoted someone else without realising!

[cardiac arrest]

Re: Unenforceable Overdrafts - CCA Information

So if you have an agreed o/d of say £100 and just overspend by £50 (with no fees) is this not good in terms if having a defence ?

Likewise If you do not have an agreed overdraft but just go overdrawn by £150 is this not good either ?

I'm a bit confused...(as usual) .

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=debtguy;559810]Funny thing is, apart from their fees the overdraft isn't unarranged - when I stopped paying into the account it was £14995 overdrawn on a £15000 o/d.

But the next day they applied £200 of charges, which put it over the limit. So they way I see it, they have shot themselves in the foot by doing so, because throwing the overdraft into 'unarranged' appears to give me rights that I wouldn't otherwise have had...

Have I understood that correctly? If so, it's a funny old world - innit?[/QUOTE]Yes. That's correct. You now have s.74 protection.

So in essence your OD is regulated and the bank must send annual statements & notices of sums in arrears etc.

Let's assume you tried to defend a claim based on the unlawful / excessive charges alone; you'd likely lose the claim but might get a small reduction to compensate unfair charges - it's up to the judge really (their discretion). If however the bank hasn't complied with regs (s.86 etc) you'd then argue that and [B]could[/B] win and get the whole balance wiped (as UE) and the judge is bound by statute.

In your case, you are £15k OD (in limit). Charges exceeded the limit so it's become regulated and the bank [B]must[/B] now start to send regular statements and sums of arrears notices. If they don't it'll be UE.

;)

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

[QUOTE=debtguy;559774][B][U]and Judgment will be granted.[/U][/B].[/QUOTE]Ermmmm - that's not entirely accurate. ;W