Can LLoyds TSB chase Current Acc defaulted over 6 years??

ClaireS

Out of the blue this weekend my boyfriend recieved a very bizarre letter from a company called Tower Investigations asking him to contact them. Obviously our minds went into overdrive, me thinking he had a secret child or something and after a weekend of worry he called them this morning and it turns out that they are acting on behalf of Lloyds TSB and trying to obtain £2700 for a current account that he held in 1997 and has not used since about 1999/200

Now this account does not show as been defaulted on his credit files (equifax and experian) and i cannot find on the other posts if the normal rules apply that companies cannot chase you after 6 years.

Please can you tell me if current accounts are treated in the same way as credit cards/loans etc?

Any help would be much appreciated as Tower Investigations and Lloyds are getting very snotty with my bf.
Thanks

BASFORDLAD

If you have not contacted the creditor within the last six years(it doesn t matter if they have written to you etc, its wheather you have had contact with them), then the statue of limitations applies. This applies to all credit agreements and so will apply to your current account. I will post the letter you need to send to them in a short while

BASFORDLAD

WITHOUT PREJUDICE

Dear Sir/Madam

Re: Account No/Reference No:

No debt is acknowledged to you. You have contacted me regarding the account with the above reference number, which you claim is owed by myself.

I would point out that under the Limitation Act 1980 Section 5 “an action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.”.

The last payment or acknowledgement of this debt was made over six years ago and no further acknowledgement or payment has been made since that time. Unless you can provide evidence of payment or written contact from me in the relevant period under Section 5 of the Limitation Act, I suggest that you are no longer able to take any court action against me to recover the alleged amount claimed. Any such action WILL be defended and challenged on the above grounds.

I await your written confirmation that no further contact will be made concerning the above account and confirmation that this matter is now closed. If you do not supply such confirmation, I will be making a complaint to the statutory authorities.

I look forward to your reply.

Yours faithfully

(Your signature)

Rafter

They key here is that you have been contacted by Tower investigations.

They have either bought the debt or file from Lloyds TSB or working on commission so they keep a percentage of what is recovered.

A lot of less savy customers will probably not know about the Statute of Limitations and will pay up or make an offer to settle.

Sounds like Basfordlad has the right letter for you if he really hasn't been contacted about it in the last 6 years.

Good luck

R.

anniecave

Am I missing something? If the account was used in 2000, then depending on when in 2000 it was last used, then it may be less than the six years.