We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help with figuring out when Statue barred starts (Overdraft)
babynoahsmamma
Posts: 3 Newbie
Quick question could it be argued successfully that a formal demand is when the clock starts ticking on an old overdraft debt?
0
Comments
-
Yes it probably could be argued that was the cause of action, it can be difficult with overdraft debts, as there are no fixed repayments as with a credit card for example.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
-
Yes that is (always as far as I know) taken as the 'cause of action' on an overdraft.0
-
babynoahsmamma wrote: »Quick question could it be argued successfully that a formal demand is when the clock starts ticking on an old overdraft debt?
Quick answer (without knowing any facts) - the formal demand date may not be the cause of action. What is/was the ‘pay by’ date?
Was this an overdraft facility which was renewed annually after 2012?
Di0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards