Bank Account Debt Collection

OhLife

Hi

Hope somebody can point me in the right direction. I have a debt company chasing me for a debt for a bank account I closed in 1999.

Reading some of the postings under section V of the CCA they don't need to provide me with any proof of this bank account...am I correct in thinking this or do they have to show me something like statements (I am sure they have nothing).

Also would I be correct in thinking as overdrafts are considered as a credit agreement then the 6 year rule does apply therefore after 6 years I don't have to pay them anything

Any advice would be most welcome

jambosans

Under the Limitations Act 1980, after six years the debt becomes statute-barred. Details on link below:-
http://www.hmrc.gov.uk/manuals/ihtmanual/ihtm28384.htm

I would also head over to Debt-Free Wannabe where someone should be able to give you advice about getting the debt collectors off your back.

PNPSUKNET

overdrafts 6 year rule starts from when the default you, dont kid yourself that the bank wont have staments.

onlypaddy

I would imagine that the debt company has bought this debt for pennies and is hoping they can scare you into paying it.

As someone has already said, the debt is most likely statute barred under the Limitations Act. This does not mean that the debt (may or may not) exist, just that they can't chase you for it, use legal action or report it to credit reference agencies.

To be considered statute barred, it must be 6 years from your last acknowledgement of the debt. That is: you have sent no letters about it, had no other contact from the bank about it and you have made no payment towards it for 6 years.