10 year old overdraft being chased

macflugal

Hi,

I received a few letters from Mercantile Data Bureau Ltd regarding an old student account overdraft from around 10 years ago. The outstanding is just over 2K but they have "identified my account as eligible for an early settlement" of half the amount.

Since i stopped using the account back in 2003 I have been out of the country and only back in the UK for 4 years. I have bought a house and this is the first referal to thisI have ever received. They threaten my home and my credit rating yet the debt does not even show up on my credit rating with either experion or equifax at all.

Should I be ignoring this letter or should I be challenging them as it should be statute barred?

Any advice appreciated.

Regards,

M

sourcrates

There is no formal agreement for an overdraught, unlike say a loan or a creditcard, but to my knowledge the same 6 year period of non acknowledgement still applies, so yes it should be statute barred now, hence the "amazing discount" available, write back stating its statute barred and therefore unenforceable in court.

Slayerx

sourcrates wrote: »

There is no formal agreement for an overdraught, unlike say a loan or a creditcard, but to my knowledge the same 6 year period of non acknowledgement still applies, so yes it should be statute barred now, hence the "amazing discount" available, write back stating its statute barred and therefore unenforceable in court.

Spot on. :j

fatbelly

Let us know what they come back with.