Does a CCA apply to an overdraft debt?

Samantha1985_2

Andyhm,

I only came here clicking through another post (and I hope you read this and think carefully before you do something you will regret).

You really need to look at your current situation and find a solution, there are plenty of ways to save money and if you have a look through this site you will find so many simple ways.

These simple ways all add up (I believe in the past month or so I have saved in excess of £200!) now half that - £100/month (if you really are in a very big mess) would be a good starting point.

Please use the tools here positively, the community is great but don't come here expecting me or anyone else to tell you theres a way where you can snap your fingers and everything is fine.Going bankrupt really is a last resort, I would advise you to head down to your local citizens advice bureau and take with you your statement of affairs.

All the best,
Sam

JES_F1

While I agree that £10,000 is a whole lot of money - and know just how daunting it is to face up to one's debts - but there are people on here paying back much larger debts.

I started with more than £45,000 of debt at the beginning of the year. I started a debt management plan with the CCCS. Creditors have frozen interest and stopped charges, and already I can see the figure coming down.

I am currently looking into whether to claim back charges on the credit cards. If successful, the amount reclaimed will be used to reduce that particular debt. Aside from that, it's my debt, it's my fault I got into this mess, so it's down to me to get myself out of it.

I've found the advice on these forums to be very positive, with great ideas to save money, how to deal with creditors, where to get advice, how to make some extra money. Though everyone is very supportive and kind, I would expect them to have less time for someone who just wants to wash their hands of a debt because it's too difficult to be bothered - sorry if this sounds harsh.

Burlesque_Babe

I cleared 25k in about 18 months so if you were to knuckle down and get very focused you could do the same. I'm afraid you are going to have to go through a period of 'no disposable income' to clear it.

droddis

Although the banks dont have to respond to a CCA Request in regards to an overdradft, to comply with the deterimination from the OFT they MUST have been sent/given in writing a letter stating:

o the credit limit (if any)
o the annual rate of interest and any charges applicable, and the conditions under which these may be varied
o the procedure for terminating the agreement;

Then after 3 months inform you again in writing of the annual rate of interest & any charges. If the bank fails to this then they are not covered by the OFT detimination and therefore the overdraft falls into CCA.

My advice would be send to a Subject Access Request to the BANK, and get a copy of ALL the information they hold about you. Included in the SAR should be the letters the both from the time of opening and after 3 months.

If they are not i do not see how they issue a CCJ; if they do they are not covered by the deterimination and should have a CCA agreement. If they produce these letters which we not included in your SAR, then they have:

a) failed to comply with you subject access request.
and/or
b) commited perjury to doctor the letters in which they did not have (this does happen).

This is as i see it and my opinion on the matter.