Your credit card debts totally written off

Runnybabbit

Now I'm going to sound REALLY stupid asking this question BUT, does this mean that an Overdraft Facility which I never actually signed for, just made the request over the phone, is this classed as an un-enforceable debt

oscar52

Runnybabbit wrote: »

Now I'm going to sound REALLY stupid asking this question BUT, does this mean that an Overdraft Facility which I never actually signed for, just made the request over the phone, is this classed as an un-enforceable debt

Nope - Overdrafts dont come under the CCA

Runnybabbit

oscar52 wrote: »

Nope - Overdrafts dont come under the CCA

So what is actually classsed as an un-enforceable debt then - cos now I'm getting a little confused - sorry :rolleyes:

oscar52

I just read the last few posts on page 1.

I agree with both sides really, if its unenforceable, then potentially, they cant make you pay (but can make your life hell) and then the other side, I spent it so i have to pay it.

My question is, could you use a CCA request to bully your creditors - ie - "my CCA request is unenforceable, unless you reduce the interest rate to help me out, i will stop paying....."

Lets face it, there are some really extortionate rates out there - some of which started out quite low. (personally I think all run by the same bloke - one in a mask with a big black horse called Bess)

fermi

oscar52 wrote: »

Nope - Overdrafts dont come under the CCA

They are covered under the CCA, but they have an exemption for the form and execution of the agreement and don't require your signature.

That basically means that it is sufficient for the bank to have provided in writing the terms of the OD when you took it out.

Runnybabbit

fermi wrote: »

They are covered under the CCA, but they have an exemption for the form and execution of the agreement and don't require your signature.

That basically means that it is sufficient for the bank to have provided in writing the terms of the OD when you took it out.

I don't remember getting forms to sign when I increased my overdraft facility sorry, or have I just mis-read your previous message - not on form tonight!

fermi

Runnybabbit wrote: »

I don't remember getting forms to sign when I increased my overdraft facility sorry, or have I just mis-read your previous message - not on form tonight!

That's me confusing the issue.

An overdraft facility doesn't require your signature or have an agreement in a form that you can request.

The OFT states that a creditor offering an OD must:

• the debtor must be informed, at or before the time an agreement is concluded, of the following:

o the credit limit (if any)
o the annual rate of interest and any charges applicable, and the conditions under which these may be varied
o the procedure for terminating the agreement;

• the above information must be confirmed in writing.

Runnybabbit

Ok, I can see where you're coming from now. all 3 things which you have listed have been done by bankers HOWEVER, nothing was ever sent by them in writing - should this of happened?