NOSIA refunds - statement v letter & timebar

mynamestaken · 20 March 2018 at 12:44PM

Hi, hope you can help. Out of the blue I recently received a refund from MBNA for their failure to provide notice of sums in arrears (nosia) in 2009. I then looked back at my records and found same thing happened when I missed 2 payments with Lloyds Bank credit card. I raised it with them but they dismiss it due to a ‘timebar’ of 6 years and saying that statements include all info anyway. So, 2 questions:

- can a monthly account statment be a NOSIA? I believe it is typically a seperate document/letter, using particular statutory wording (eg stating it is a notice), including amount due etc. But info I found googling seems a bit unclear so any clarification much appreciated.

- is statute of limitation applicable? my understanding is it is an ongoing breach until the notice is served, under CCA 2006, so redress should be made even if it is more than 6yrs ago. (This explains mbna action.)

Thanks very much.

mynamestaken · 26 March 2018 at 3:58PM

. . . . . . . . . ?

jonesMUFCforever · 27 March 2018 at 11:35AM

IMO Lloyds are correct the monthly statement this month will tell you the minimum payment required + any underfunding from last month + any charges.

mynamestaken · 29 March 2018 at 12:41PM

Ben8282 - really, thats rude and hugely unfair. I got into a bit of debt due to a serious chronic illness and being unable to work. I did not rashly, carelessly spend my way into debt. This dates back many years (hence my question about the statute of limitation). I'm not seeking a reward for debt as I can manage without. However I was querying whether I was entitled to it (the second part of my question) as I recieved out of the blue a refund from MBNA. I might add most people on moneysavingexpert are seeking advice, compensation or loopholes you criticise so much - probably you more than me with your 2000+ posts versus my single thread.

derps · 29 March 2018 at 8:56PM

Assuming this is what you seek to rely on:

Consumer_Credit_Act_1974 wrote:

86C Notice of sums in arrears under running-account credit agreements

(1)This section applies where at any time the following conditions are satisfied—
(a)that the debtor under an applicable agreement is required to have made at least two payments under the agreement before that time;
(b)that the last two payments which he is required to have made before that time have not been made;
(c)that the creditor has not already been required to give a notice under this section in relation to either of those payments; and
(d)if a judgment has been given in relation to the agreement before that time, that there is no sum still to be paid under the judgment by the debtor.

(2)The creditor shall, no later than the end of the period within which he is next required to give a statement under section 78(4) in relation to the agreement, give the debtor a notice under this section.

(3)The notice shall include a copy of the current arrears information sheet under section 86A.

(4)The notice may be incorporated in a statement or other notice which the creditor gives the debtor in relation to the agreement by virtue of another provision of this Act.

(5)The debtor shall have no liability to pay any sum in connection with the preparation or the giving to him of the notice.

(6)Regulations may make provision about the form and content of notices under this section.

(7)In this section ‘applicable agreement’ means an agreement which—
(a)is a regulated agreement for running-account credit; and
(b)is neither a non-commercial agreement nor a small agreement.

(8)In this section “payments” means payments to be made at predetermined intervals provided for under the terms of the agreement.

It looks to me that the regular statements constitute a notice, which makes sense since that's the whole point of them

Kellysimps · 13 May 2018 at 10:57AM

Hi I had a 2500 plus refund from Lowell from a Lloyds loan I going back to 2008 all the way to 2017. Every payment I paid towards the loan because they never gave me a NOSIA. I then requested a refund for my credit card from Lloyds as they also did not provide me with a NOSIA. Lloyds have said they have no record of the account lol. Then back tracked and said they don't give NOSIA for cc. Now it's got to the point Lowell has said they don't need togive NOSIA , but it is standard practice . They are not willing to give me a refund. My question to both of them was " so why have you refunded me 2+ g for the loan. I have gone to the financial obismen. I will keep you updated. I am also going after my husband's cc as they have done the same, also o a mortgage. I got into debt back into 2008 because of Lloyds bank and there hard selling ways.

Kaz1960 · 7 June 2018 at 6:18PM

Hi I have just received one of these letters, just wondering if you did get a refund or if it!!!8217;s time wasting.
Thanks

Kellysimps · 13 July 2018 at 8:43AM

I have had a full refund on all the payments I made on the loan, so yes go for it. I am still trying to get a refund for the credit card I had with them as I never had a NOSIA for that.
On the loan they have to give you a NOSIA , but Lloyds are saying on a cc they don't. It is very strange because I have seen posts saying people have had a refund from other cc.
It is just another mess up from Lloyds.
I also think in the future people will be having refunds for the bank charges they have put onto over drafts now as they to are extraordinary high.
Good luck

Nasqueron · 13 July 2018 at 9:11AM

Kellysimps wrote: »

I have had a full refund on all the payments I made on the loan, so yes go for it. I am still trying to get a refund for the credit card I had with them as I never had a NOSIA for that.
On the loan they have to give you a NOSIA , but Lloyds are saying on a cc they don't. It is very strange because I have seen posts saying people have had a refund from other cc.
It is just another mess up from Lloyds.
I also think in the future people will be having refunds for the bank charges they have put onto over drafts now as they to are extraordinary high.
Good luck

The bank charges boat sailed in 2009 after the court case and charges were all reduced. You got lucky with the NOSIA refund given you owed the money and should have repaid it, put it to bed and move on and if you get lucky you get lucky

NOSIA refunds - statement v letter & timebar

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