Letter in the post..

past_history

Hi

Had a letter from Moorcroft plc today asking for payment for a overdraft charge debt they have from a Nationwide account I had. To my knowledge once I had payed back the overdraft to £0 it was closed. I believe this was around 8 years ago although do not have any records of the account anymore.

I have taken the 'prove it' letter to send to them and await there response. My question is: How long do banks wait before defaulting you on an overdraft charges? And is this the date I should be looking at for the Statute Barred to kick in?

As I havent made any payments, had any contact from, or any written contact with Nationwide for over 8 years would this be when the statue barred runs from or when they defaulted the account?

I haven't changed my phone number which they used to call me on regarding the overdraft and haven't had any contact or letters even to my parents house which I was registered at before.

Bit annoying as this I beleive this account was settled and I was told there were no more charges due as I had repayed the overdraft debt.

Will this be logged on my Credit File? It wasn't Experian/Noddle last month when I checked last

Any Ideas?

Many thanks

past_history

TTT anyone got any thoughts?

fatbelly

If it was defaulted over 6 years ago it would have dropped off your credit file by now. So it's not a surprise that it doesn't appear.

The limitation period starts with the 'cause of action'. That isn't the default date. For an overdraft it's when the overdraft is 'called in'. It is just possible that could have happened a long time after you got the account to zero and walked away.

For instance if there was a monthly charge, or a standing order, for £10 per month, and you had a £500 overdraft limit, that would not cause a problem for several years.

The positive thing is that you were with Nationwide, and they are not quite as useless as the traditional banks.

http://www.credittoday.co.uk/article/13733/online-news/macdermott-to-leave-citizens-advice

Hopefully Moorcroft will approach Nationwide for an explanation, and you can take it from there.

past_history

Thanks for your reply.

Because I had been in a bit of bother with Nationwide by going way over the overdraft i'm guessing they had 'called it in' at that time. I had another debt company chasing me for the overdraft but I paid it off weekly with my wages going into the account untill it had been cleared and then been in credit. I then changed my details so my wages went into another account and asked them to close the account.

I didn't have any DD attached to this account so unless they have levied me with more fees i cant see why I would be in debt to them. £108 is the figure they say I owe which Isn't too bad but annoying after so many years

I shall see what moorcroft have to say with this prove it letter.

Thanks again