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  • #1

    CCA1974 Vs overdraft

    What are the Laws regarding overdrafts.
    A Rough out line,
    I had a bank account that had an agreed over draft and When I lost my job some time ago I went over the agreed limit. I did everything could to keep straight but spiralling bills just kept dragging me down. I suffered with depression and shoved my head in the sand for a while
    I tried talking to the bank but they did not want to know and kept hitting me with chargers and interest.
    So I have asked for the provided me with a copy of the signed contract regarding the overdraft pursuant to the consumer credit act 1974. ( clutching at straws)
    They have said that overdrafts are exempt from the CCA 1974 and the money outstanding above the a agreed overdraft limit is not covered by the CCA 1974 and they don’t have to provide any paper work for that as it is regarded as separate contract. Can any body point me in the right direction?
    Someone said check out Coutts bank Vs Sebastiyen
    Tags: account, accounts, bank, bank account, barclaycard, barclays, bills, card, cards, cca, cca 1974, charges, con, consumer, consumer credit, consumer credit act, contract, coutts, credit, credit act, credit card, credit cards, current account, current accounts, customer, debt, depression, direct debits, help, information, interest, job, letter, lost, money, over draft, overdraft, overdrafts, paid, pay, people, set off, wrong
  • #2
    Re: CCA1974 Vs overdraft

    I am afraid that the bank are correct and that ovrdrafts are not covered by CCA.

    Can you give us some more information so we can best help you-
    How much was the original overdraft
    How much is it now
    Who is it with

    Personally, I have not heard of the case you refer to.
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: CCA1974 Vs overdraft

      Have a look here for more info on overdrafts, 4 the people:
      http://forums.all-about-debt.co.uk/s...CA-Information

      and Coutts v Sebestyen is here: http://www.bailii.org/ew/cases/EWCA/Civ/2005/473.html

      Welcome to AAD

      Elsa x

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      • #4
        Re: CCA1974 Vs overdraft

        Originally posted by Undercover Elsa View Post
        and Coutts v Sebestyen is here: http://www.bailii.org/ew/cases/EWCA/Civ/2005/473.html

        Welcome to AAD

        Elsa x
        Glad you found it Elsa!!
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

        • #5
          Re: CCA1974 Vs overdraft

          I knew I'd seen it somewhere!

          Comment

          • #6
            Re: CCA1974 Vs overdraft

            since i posted last, i have found that overdrafts can come under section 10 and other section as well of the consumer credit act 1974 which i am now studying. and i will post what i have found out the case in question coutts vs Sebestyen has some very interesting points [ http://www.bailii.org/ew/cases/EWCA/Civ/2005/473.html ]

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            • #7
              Re: CCA1974 Vs overdraft

              What I object to is the ability of the bank
              - to pay credit card bills to itself out of a current account leaving the customer overdrawn with charges and often with charges for unauthorised overdrafts
              - to deny direct debits add charges for the nice letter an yet repeatedly reject the same direct debit with the additional charges for the nice letter, thereby often exceeding the initial overdraft into an unauthorised overdraft.

              This intrinsically links credit cards to current accounts.

              Comment

              • #8
                Re: CCA1974 Vs overdraft

                Barclays did this to me several years ago. They used right of set off to pay Barclaycard. They did this on the day that I got paid, I then had to go into my reserve account to live, at £22 every 5 days, soon got into difficulty. God said they had done nothing wrong!

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