When last payment has been made.

[Never-In-Doubt]

Re: When last payment has been made.

Does anyone have a definite answer for when SB starts please?

S

it's 6 years from the last payment or direct acknowledgment of the debt/account. If they issue a claim before the 6 year period is complete then SB ceases to be an option.

So if you last paid a debt 1/1/2008 it would become SB on 2/1/14 however we always suggest adding a month on because you could be paying in advance so to cover all eventualities you usually add some time at the end.

[Never-In-Doubt]

Re: When last payment has been made.

What is the best way to find out when the last payment was made on a credit card account? By a SAR?

S.

yes to a SAR (more accurate) or via Experian / Equifax (indicative only)..... But if it's SB you just leave it as they can't touch you. Don't go chasing the creditor, just forget it till they hassle you. If it's not quite SB then issue a CCA to buy time (our templates do not affect SB)....

[PlanB]

Re: When last payment has been made.

A quick question. Does your friend live in Scotland because then it would be only 5 years to SB?

Also if a claim is issued the SB clock stops on that date as Niddy says, but if the claim is struck out by the court then the SB clock kicks in again from when it stopped. I think I've got that right. Maybe not.

What makes your friend think his last payment was May 2008?

[Seamus]

Re: When last payment has been made.

it's 6 years from the last payment or direct acknowledgment of the debt/account. If they issue a claim before the 6 year period is complete then SB ceases to be an option.

So if you last paid a debt 1/1/2008 it would become SB on 2/1/14 however we always suggest adding a month on because you could be paying in advance so to cover all eventualities you usually add some time at the end.

So if they issue a claim but dont go through with it, does the 6 years start all over again?

[Seamus]

Re: When last payment has been made.

A quick question. Does your friend live in Scotland because then it would be only 5 years to SB?

Also if a claim is issued the SB clock stops on that date as Niddy says, but if the claim is struck out by the court then the SB clock kicks in again from when it stopped. I think I've got that right. Maybe not.

What makes your friend think his last payment was May 2008?

He can remember it because he went on holiday abroad the month after and he made his last payment the month before going.

Not in Scotland.

S

[PlanB]

Re: When last payment has been made.

he went on holiday abroad the month after and he made his last payment the month before going.

I like your friend's attitude. I did the same and never looked back. Life comes first

[Never-In-Doubt]

Re: When last payment has been made.

So if they issue a claim but dont go through with it, does the 6 years start all over again?

the issuance of the claim creates a new cause of action hence SB would be an additional 6 years.

[Seamus]

Re: When last payment has been made.

I like your friend's attitude. I did the same and never looked back. Life comes first

He couldn't have paid if he had wanted to, he had severe financial problems around then, the holiday was his last bit of fun for some time.

S

[Seamus]

Re: When last payment has been made.

the issuance of the claim creates a new cause of action hence SB would be an additional 6 years.

Thanks Niddy.

S

[Never-In-Doubt]

Re: When last payment has been made.

the issuance of the claim creates a new cause of action hence SB would be an additional 6 years.

At least I think that's what was decided on dadmeister's thread

[PlanB]

Re: When last payment has been made.

At least I think that's what was decided on dadmeister's thread

I think we finally decided after long deliberations that the SB clock definitely stopped when the claim is issued, but the jury is still out on what happens if the claim is struck out or discontinued.

[jj19]

Re: When last payment has been made.

I would suggest looking at national debt line. They say it is often 1 or 2 months from the last normal payment and with overdrafts it is different. I have seen somewhere the idea that once you tell them it is statute barred it is then for them to prove it isnt.

[Never-In-Doubt]

Re: When last payment has been made.

I would suggest looking at national debt line. They say it is often 1 or 2 months from the last normal payment and with overdrafts it is different. I have seen somewhere the idea that once you tell them it is statute barred it is then for them to prove it isnt.

i wouldn't wipe my arse with National Debtline. We're here so people learn the facts to fight themselves and not rely on corporate bollocks fed by the banks that fund such entities.

Its 6 years from last payment or acknowledgement - FACT. Overdrafts are no different. If you don't pay and don't acknowledge ANY CCA Related debt for 6 years then your account becomes SB.

[Never-In-Doubt]

Re: When last payment has been made.

I think you might be confusing default overdraft related entries on your CRA file as being "slightly" different in that a default might remain after 6 years as the bank can add the default within 6 months of demanding repayment which usually occurs at overdraft renewal with a few months of no activity. It's expected they'll terminate the overdraft at renewal hence the Default should be applied with 6 months from this date, not necessarily 6 months from last payment as a loan or credit card.

[jj19]

Re: When last payment has been made.

http://www.legislation.gov.uk/ukpga/1980/58

will have to disagree with you there never in doubt although I admire your conviction. According to the limitations act it is 6 years from the date cause of action accrued. Now I can not see how a regular payment could be a cause of action. Maybe the first missed payment yes but that can be over a month after the last payment.
Overdrafts confuse me but if the bank haven't asked for payment I can not see how a cause has accrued.

I think the site is wonderful btw but I would never dismiss another organisations opinions out of hand.