Reclaiming PPI & Overdraft Charges on Statute Barred Accounts

JusticeFT96

Hi there,

In my younger years I had credit cards and loans with quite a few banks, eventually I became unemployed and I couldn't pay the debts off and they became statute barred after 6 years. This was quite a while ago now and I can't find any record of who I had loans and credit cards with.

Is there anyway to find out? Will the banks simply just ignore me now because they are older than 6 years?

I know off the top of my head I had loans and credit cards with Egg, Barclaycard, MBNA, HSBC, RBS, Alliance and Leicester and Capital One over a period of time, possibly more.

Should I just use a PPI company to do the work for me? I wanted to do it myself but because its quite complicated with it being statute barred and a lot older than 6 years I am worried I will just be brushed aside.

Lastly I made a claim years ago with HSBC and they admitted they owed me around £3500 in unlawful overdraft fees, at the time my loan account was not statute barred and they said they would take this off the debt if I agreed. I didn't bother replying in the end and just left it. Am I able to claim for this again or would it be the same scenario?

Thanks for any advice given in advance!

[Deleted User]

Any money you failed to pay would just be offset against any redress you might win.

Statute barring doesn't mean the debt ends, it just means the Bank can no longer chase you for it through the courts.

There is also no such thing as "unlawful" overdraft fees and your figures seem very inflated.

dunstonh

Statute barred means they cannot use the courts to come after you for the payment of the debt. However, the debt still exists. So, if you complain and win redress they can use the redress against the unpaid debt rather than pay it to. A quite logical outcome as it would be silly to expect to be paid redress when you never paid the bill in the first place.

Should I just use a PPI company to do the work for me?

under no circumstances should you use a CMC. You would end up having to pay them a cut against the redress payable despite not receiving the redress personally.

Lastly I made a claim years ago with HSBC and they admitted they owed me around £3500 in unlawful overdraft fees, at the time my loan account was not statute barred and they said they would take this off the debt if I agreed. I didn't bother replying in the end and just left it. Am I able to claim for this again or would it be the same scenario?

I very much doubt they admitted it was unlawful. In 2009, the banks won the court case. So, as you never accepted the offer and this must have been prior to 2009 and you have an outstanding debt, it would be pointless to follow it up as you are not going to get the money personally.

JusticeFT96

Not all my debts were ignored I paid what I could and some I paid off totally. Also some debts were passed onto debt collectors.

My figures are not inflated, this is how much I was offered, I was in a terrible situation each week being charged hundreds from direct debits being missed and going over my over draft limit. I think it was £30 each time I missed a direct debit or went over my limit.

Unlawful was my wording, unfair is probably the right word in the eyes of the courts. I am not bothered if I can't claim I was just asking as I would have paid a fortune over the years in both fees and PPI.