Unenforceable Overdrafts - CCA Information

[benadabec]

Re: Overdrafts - CCA Information

As and when this gets passed to a DCA, would I go back to the CCA request or use the statute barred letters? I assumed that once you hit the statute barred time frame, they couldn't take any action but this seems like it has no end and is destined to go round and round

[Never-In-Doubt]

Re: Overdrafts - CCA Information

[QUOTE=Still Waving;372473]I was under the impression that normally once an account is terminated, interest ceases to accrue ?[/QUOTE]If it's in the terms they'll add it - however when it's SB that changes things. Likewise, if they issue a claim they can try and claim interest (if it's in the terms)....

[benadabec]

Re: Overdrafts - CCA Information

OK thanks Niddy. Will continue to ignore.

[Still Waving]

Re: Overdrafts - CCA Information

I was under the impression that normally once an account is terminated, interest ceases to accrue ?

[Never-In-Doubt]

Re: Overdrafts - CCA Information

SB in England does NOT exhaust the debt. They can ask you to pay; and you can ignore their requests, for the same token.

I suggest you you ignore this letter.

[benadabec]

Re: Overdrafts - CCA Information

I sent the Statute Barred letter to Barclays about 10 days ago, due to there being inactivity on the account for well over 6 years. They have today sent a Termination Notice, "issued in accordance with Sections 76(1) and 98(1) of the Consumer Credit Act". It goes on to say:

It is a term of your agreement with the Bank that the full amount outstanding on your account is repayable, with interest, on demand at any time. The Bank terminates your agreement including any facilities, with effect from X/X/2014 and makes demand for full and immediate payment. Daily interest will accrue until full payment is made.
If you do not settle the balance on your account the Bank may transfer the debt to a recovery agent with a view to taking further action. Additionally, the Bank intends to register details of the account with credit reference agencies.

It then ends saying I need to get help and should contact a solicitor or the Citizens Advice Bureau.

So much for not continuing to press for payment as it is statute barred and awaiting a reply that no further action will be taken. They seem quite intent on recovering the money even though it's been inactive for just under a decade. Not sure how to respond to this, or if I should at all.

[Pixie]

Re: Overdrafts - CCA Information

Thanks Niddy :)

[Never-In-Doubt]

Re: Overdrafts - CCA Information

Bank the cheque :clap

Ignore them for now. See what Wetcloths do next eh? :)

[Never-In-Doubt]

Re: Overdrafts - CCA Information

Let me catch up.....

[vint1954]

Re: Overdrafts - CCA Information

Difficult one. I would speak to Niddy first

[Pixie]

Re: Overdrafts - CCA Information

Thank you, both of you.

Do you think I should bank the cheque?

[vint1954]

Re: Overdrafts - CCA Information

I think the point is that once they let you go over the agreed limit, then they are extending credit to you, so that has to have an agreement.

[cymruambyth]

Re: Overdrafts - CCA Information

I would still send it back and point out that their interpretation of the act is incorrect

[Pixie]

Re: Overdrafts - CCA Information

The letter from LTSB was in response to me sending the 2nd OD letter.

[cymruambyth]

Re: Overdrafts - CCA Information

I would thank him for his reply and money which you are accepting for their incompetence but not are not accepting it as acknowledgement of the debt, then add details of OD letter 2.