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Overdraft dispute
Jericho77
Posts: 2 Newbie
Hi all,
I had a current account with a major high st bank (No names, but it began with an A and ends with a Y). In Dec 2001 I lost my job and immediately money stopped going into this account. For my next job I opened a new account with another bank as I wasn't really happy with the old one anyway.
Recently (Approx 2 months ago), my old bank set debt collectors on me, claiming I owed them £433 in overdraft payments, which is sticking in my throat as they point blank refused to give me an overdraft when I asked for one.
Now its been over 6 years since we parted company and for them to collect this money (Had they asked after a couple of months, I probably would have paid them without question).
Can they demand this payment after such a period of time has elapsed and is there a legal maximum time limit on the collection of debts?.
Sorry for being so long winded.
All help appreciated.....
Jericho77.
I had a current account with a major high st bank (No names, but it began with an A and ends with a Y). In Dec 2001 I lost my job and immediately money stopped going into this account. For my next job I opened a new account with another bank as I wasn't really happy with the old one anyway.
Recently (Approx 2 months ago), my old bank set debt collectors on me, claiming I owed them £433 in overdraft payments, which is sticking in my throat as they point blank refused to give me an overdraft when I asked for one.
Now its been over 6 years since we parted company and for them to collect this money (Had they asked after a couple of months, I probably would have paid them without question).
Can they demand this payment after such a period of time has elapsed and is there a legal maximum time limit on the collection of debts?.
Sorry for being so long winded.
All help appreciated.....
Jericho77.
0
Comments
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A debt will be "Statute Barred" if there has been no acknowledgement of the debt by you making a payment or in writing within the relevant limitation period.
That means that the creditor should not be able to take any legal action against you to recover the debt.
Plus under OFT guidelines, once you have told them that you will not be paying because it is "Statute Barred" then it is unfair for them to press further for payment. Doing so may legally constitute 'harassment' under the Administration of Justice Act 1970.
If you are in England/Wales then the limitation period is 6 years and you should read:
Link: Factsheet | Liability for Debts and the Limitation Act (England/Wales)
If you are in Scotland then the limitation period is 5 years and you should read:
Link: Factsheet | Liability for debts & the Prescription & Limitation (Scotland) Act 1973
If you feel the debt is "Statute Barred", then there is a letter to write at the end of each factsheet.
If you are unsure of anything, then give National Debtline a call free on 0808 808 4000 to talk your situation through with a professional advisor.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Many thank s for your help...most informative.
Jericho770
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