statute barred on limitation act with right of set off letter. Please help.

triga2005

Borrower: my partner
Co guarantor: me
Ultimate borrower: limited company
Security: legal charge over partner property which secures all liabilities to the borrower to the bank of any kind including pursuant of the guarantee.
Guarantee: XX thousand pounds to borrower and myself in respect of all liabilities of ultimate borrower

I spoke to third party this morning regarding personal loan payment and they said when direct debit was shut down by bank on 10 June 2013 9 days after the last direct debit and the matter closed as far as they were concerned, However the loan even though finished being paid and it was satisfied to the penny the balance balance was £27.94 short of full figure, (which if my maths is correct it seems they have pulled my last payment of £50.00 out of the personal loan repayment and paid £22.06 into this business account as there right of set letter states without my consent or authorisation for it to go toward business loan.)

The terms and conditions clearly state the right of set off is for any account in credit, well the account couldn't of been in credit if there was a £27.94 shortfall when the direct debit was shut down in June 2013 by the bank. It seems they have moved money from the personal debit credited the account and claimed right of set off.
Also It is my understanding that for the statute barred clock to be reset, it has to be a payment or acknowledgement of the debt by either yourself or someone to whom you have given your consent. The transfer of cash from one account to another (made by the bank of it's own violition and without my prior knowledge or approval/consent) would surely not restart the clock in this case?

swampduck

If the debt is with Apex - I would be offering a lesser sum as full and final settlement too. Why pay more than you need to? But I agree with other posters -move your money if needs be.

Swampy

fermi

rogue999 wrote: »

Hi Triga - you need to start your own thread as it will be missed here on the end of an old thread. Go back to the main Debtfree wannabee board and click on New Thread and copy and paste your post into it. Good luck - i'm sorry I don't know about business debts xx

Posts in several places consolidated in one thread.

triga2005

Good Afternoon all.
I sent a statue barred letter to legal quoting sections 29,30 and 5 of limitation act
I have had a letter back from legal reps of bank; it reads.

"APPLICATION FOR MONEY JUDGEMENT

Dear First name second name

It has now become necessary for us to progress county court proceedings against you in relation to this debt and as a consequence you are liable for any additional costs incurred.

Following this our clients instructions are then to enforce any judgement obtained against you by way of a charging order against your property. This will mean our client will be repaid from the equity available in the property.

Please call us today by calling ************** to discuss payment of this outstanding sum.

Please do not ignore this letter. doing nothing will only make matters worse.

Yours faithfully. "

Can anybody please advise me or help as this what not I expected.
Many thanks.

fatbelly

fatbelly wrote: »

If you get a court claim, head over to legalbeagles.

triga2005 wrote: »

Good Afternoon all.

Can anybody please advise me or help as this what not I expected.
Many thanks.

A court claim is what I expected - not that you've had one yet - it's still at the threatening stage.

But you have asserted that it's statute barred (and quoted the relevant sections). They say it isn't. It's not at all clear who is right. So it is to be expected that they will ask a court to rule on it.

Should a court claim come, you will need some help and a good place is

http://www.legalbeagles.info/forums/forumdisplay.php?105-Received-a-Court-Claim

For what it's worth, I think there are strong arguments that what they did, did not constitute acknowledgement , and so this is statute barred. But only a court could definitely rule on this, and district judges are notorious for finding odd ways of viewing things.

rizla_king

Agree with fatbelly. Not a claim yet. May be a final bluff or even crossed in the post but equally likely they think they have a reasonably provable case. If their agreements with you gave them a contractual right to take payments then a court could see those as valid payments that restart the 6 years

fermi

rizla_king wrote: »

Agree with fatbelly. Not a claim yet.

Read the legalbeagles thread. Claim form has been issued it seems.

triga2005

Thanks to you all have advised have taken matter to legal beagles as advised and they are being very helpful. Maybe best for moderators to close this thread. Wish you all well