About SB

[greymatter]

Hi
Could you clarify when the SB time run from. Is it from the DN date or from when you stop all payments.
Thanks
GM

[helmsman]

Re: About SB

Hi
Could you clarify when the SB time run from. Is it from the DN date or from when you stop all payments.
Thanks
GM

Hi,
If only we knew?
Helmsman.

[SaltnVinegar]

Re: About SB

Hiya

Theres a recent thread here that goes into things a little bit

http://forums.all-about-debt.co.uk/s...ail-about-this

Unfortunately there are a couple of creditors who are trying to bend the law to say that SB means something different, but until a case comes to court then thats a moot point.

My advice is even if you think a debt is past the SB deadline, you do not inform a creditor of this fact as if you're wrong, or the timelines are a close run thing, or if the creditor is just feeling bolshy, you then take the risk of them focusing their minds and taking quick action and making a court claim.

What you want them to do, is to put your account into an 'On Hold' black hole, and wrap them up in their internal procedures, so that the SB date safely comes and goes without them noticing (or until its too late).

Think of the SB as your 'Joker' card, and keep it in your back pocket, so if in the unlikely event you get a court claim, this point will get it thrown out pretty quickly (but knowing that you can also sleep very easily!)

[MrsD]

Re: About SB

all of ours are well SB now (23).

I only had to actually send one SB letter (Westcot) and they came back pretty quick with an apology. I took the date from the last reduced payment to our DMP which we had been paying for about 6 months in which everything had been defaulted, although some were never terminated.

Most of the post SB correspondence has been vague threaty stuff, not really worth worrying about. so just ignored.

as S&V says it's your joker which you pull out only if you really need to, if you feel they are SB, relax a bit, you know you have your joker but you don't need to use it unless they are literally dragging you to court.

It will be fine, no stressing

[Phoenix]

Re: About SB

Hi,
If only we knew?
Helmsman.

I know what you mean, Helmsman.
Unfortunately, there are no guidelines (the banks aren't going to help with this!) There is no signpost saying "you have now reached SB status" - if only!

As SnV says, it "needs" someone to be taken to cour to get the definitive answer. But, again this is not likely to happen.

I am just keeping those "jokers" up my proverbial sleeve ....

[greymatter]

Re: About SB

Thanks all
Bit confusing I must say. DN were issued after full payment ceased,well over 6+ years.Certain token payments were made after.So I wonder what situation here would the COA possibly be applied?
Thanks
GM

[Susie]

Re: About SB

Thanks all
Bit confusing I must say. DN were issued after full payment ceased,well over 6+ years.Certain token payments were made after.So I wonder what situation here would the COA possibly be applied?
Thanks
GM

I think you will find that the token payments will have reset the SB clock, so it will be 6 years from the last token payment on the account

[greymatter]

Re: About SB

Thats my understanding too.My 6 yrs are 1 yr away

[Pixie]

Re: About SB

It'll soon pass

[Susie]

Re: About SB

Thats my understanding too.My 6 yrs are 1 yr away

Good luck with it

[Never-In-Doubt]

Re: About SB

As others have said, it's very ambiguous at the moment because one creditor in particular have got a bee in their bonnet and have decided to try and argue that SB commences from the last Cause of Action (correct so far) but that the CoA *could* be when the creditor issues a default notice, even if that was say a year after the last payment.

We argue that they have a duty to issue a Default at the first earliest opportunity in line with FCA and ICO guidelines so there's no reason to delay issuing a DN.

It's that part which is confusing. In a nutshell, if you follow my guides from day one of AAD you'll be perfectly safe. I have always stated that you must wait 6 years plus a month at the absolute minimum and even then it would be safer to add 6 months on UNLESS it was an overdraft in which case it needs to be 6 years from the anniversary of the overdraft review date.

So in date terminology; if you last paid on 01.01.2011 but then moved so have no idea when you were defaulted, you should add 6 months on (as by then you MUST be defaulted) plus the statutory 6 years (England & Wales only) so by July 2017 it would be 100% Statute Barred no matter. If however they issued a claim say in the May 2017, it may not be SB as the CoA could be argued against the Default Notice issuance date.

Make sense?

[helmsman]

Re: About SB

Hi,
J have a DN issued by Mercers (Barclaycard) Dec but another one issued by Barclaycard 4 months later saying the 1st one issued wrongly.
Helmsman ps hope I can use Mercers. no DN received by BC just a change of date.

[greymatter]

Re: About SB

Yes,thanks Pixie.
Sorry but I meant to click the 'thank you' tab but hit what appears to be 'complaints'
Definitely no way was that intended.My apologies.
GM

[greymatter]

Re: About SB

Thanks Niddy,
It makes sense.

[Never-In-Doubt]

Re: About SB

Hi,
J have a DN issued by Mercers (Barclaycard) Dec but another one issued by Barclaycard 4 months later saying the 1st one issued wrongly.
Helmsman ps hope I can use Mercers. no DN received by BC just a change of date.

I suspect the second DN is invalid too as Mercers couldn't issues DN's.... anyway, I'd not overly worry. If you get legal threats we're here to guide you through.

Regardless, the account was technically defaulted when they first issued the notice so the fact they remedied the fault their end, for the purposes of being able to demand full balance / termination process, doesn't alter the fact the cause of action was when they issued the first default because that's when you were, defaulted. If you weren't they'd never have sent it in the first place.

Its a moot point with respect to Mercers as their DN's are ALL unlawful (IIRC) - happy to be corrected but I'm sure there's an underlying problem...