Unenforceable Overdrafts - CCA Information

[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.

[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.

[Still Waving]

Re: Overdrafts - CCA Information

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

[benadabec]

Re: Overdrafts - CCA Information

OK thanks Niddy. Will continue to ignore.

[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

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

[Pixie]

Re: Overdrafts - CCA Information

They can't take action as far as going to court but the y can still chase you.

If it gets passed to a dca I would send the SB letter.

[benadabec]

Re: Overdrafts - CCA Information

That makes sense. Thanks Pixie

[Never-In-Doubt]

Re: Overdrafts - CCA Information

Agreed. Send SB letter. They'll soon get the gist ;)

[benadabec]

Re: Overdrafts - CCA Information

Similar to Pixie on 9th Feb, I've had a letter back from Barclays regarding the Statute Barred letter I had sent to them. They apologised for the inconvenience and while they disagree that the account is statute barred, they have sent a cheque for £50 as a result of the complaint the SB letter raised.

Do I bank the cheque? Would I open myself up to any acknowledgement of the account/debt by accepting it?

[Pixie]

Re: Overdrafts - CCA Information

[QUOTE=benadabec;391090]Similar to Pixie on 9th Feb, I've had a letter back from Barclays regarding the Statute Barred letter I had sent to them. They apologised for the inconvenience and while they disagree that the account is statute barred, they have sent a cheque for £50 as a result of the complaint the SB letter raised.

Do I bank the cheque? Would I open myself up to any acknowledgement of the account/debt by accepting it?[/QUOTE]

I'm assuming it would be safe to bank it as Niddy advised me. If the account's SB I wouldn't think that acknowledgement would be an issue.

[Bricktop]

Re: Overdrafts - CCA Information

Nat West have been back in touch, apparently they were adding lots of charges on a daily basis and wanted me to pay.

I asked for a copy of the agreement and a breakdown of how the charges on the alleged agreement were calculated.

They have written back and wiped out all the additional charges that they were adding over the past couple of years bar £150's worth of some random charge but would still like paying.

So I have again asked for a copy of the agreement and a breakdown of how the charges on the alleged agreement were calculated.

Lets see what happens.....

[debtguy]

Re: Overdrafts - CCA Information

[QUOTE=Bricktop;445516]Nat West have been back in touch, apparently they were adding lots of charges on a daily basis and wanted me to pay.
I asked for a copy of the agreement and a breakdown of how the charges on the alleged agreement were calculated.
They have written back and wiped out all the additional charges that they were adding over the past couple of years bar £150's worth of some random charge but would still like paying.
So I have again asked for a copy of the agreement and a breakdown of how the charges on the alleged agreement were calculated.
Lets see what happens.....[/QUOTE]

Any update on this? It was a while ago and it doesn't look as if they've got back to you? I ask because I have a large (£12K) NatWest overdraft that I have had for around 20 years non-stop, and I have just worked out how much I've paid them (roughly £150 a month in interest and charges, plus £200 a year account fee, for 20 years is around £40000).

It's not so much that I resent the amount (although I do!) as that I really cannot imagine how a bank could have been less understanding, less helpful, less responsive and more obstructive. I would so love to tell them to shove their overdraft where the monkey put the nuts and walk away, and as I am abroad it is tempting. But I know that their DCAs tends to be some of the nastier ones, so I am hesitating.

So, as I said, any info would be much appreciated...

[Never-In-Doubt]

Re: Unenforceable Overdrafts - CCA Information

This post explains Statute of Limitation regards Overdrafts --> [url]http://forums.all-about-debt.co.uk/showthread.php?12634-URGENT-Keynes-issue-LBA-for-old-HSBC-overdraft-account-HELP!!&p=550740&viewfull=1#post550740[/url]

[Bricktop]

Re: Unenforceable Overdrafts - CCA Information

Nat West finally back in touch, brief parts of letter...


Bank does not require customers to sign an agreement under the CCA in order for an overdraft facility to be applied to the account, therefore a signed agreement is not available and is not required to be provided under the terms of S78

Under S77 of the CCA they are required to supply copy or true copy of CCA regulated loan agreement, copies of docs mentioned in the agreement, statement of account.

As I do not have a loan a request would have to be made under S78

Please clarify the info I am requesting,

([B]they have now closed the account[/B], but I still owe them for the overdraft. Although I have had nothing to do with the account since June 2012)



So I guess it reads that I can request under S78 for an agreement but as there isn't one they won't be able to supply.

Not sure my next plan of action tbh, time to make a settlement offer or keep battling ?