Statute Barred on Overdrafts.

[Guest]

Re: Statute Barred on Overdrafts.

I have no idea what your argument is seeing as though you change it.

State clearly when you think limitations runs from?

So you have found some loophole that goes aginst NDL and all other legal rulings advice that limitations runs 6 years after first missed payment?

NDL and all other debt charities are all wrong and you are right even though you have no evidence?

OK first I have stated four times in the piece copied by you in this post when the COA commences on this kind of an agreement, it is even underlined and highlighted, here it is again: but it has always been held that
the statute runs from the earliest time at which an action could be
brought."

This is not a loophole, I am not even sure what you mean here.

NDL and all the other charities including the OFT agree that the cause of action is a separate function to the acknowledgment of the debt which it is, as they are different parts of the act.
National debtline says that this is a matter for the t and cs which fully agrees with what I say in my earlier post.( incidentally this is also what you say earlier, did you forget?)

[charharp]

Re: Statute Barred on Overdrafts.

And that time is when the contract is breached. Contract is breached when 1 maybe 2 at most payment are missed on a CC or loan.

[MissFM]

Re: Statute Barred on Overdrafts.

Such ill manners from Charharp!

[Guest]

Re: Statute Barred on Overdrafts.

How am I altering my words? The quote of me apps ranting staying limitations is from last activity is a question...read it. I have never stated limitations runs from last activity I proposed this as a theory for overdrafts only.

Is this a ace to receive advice or for people to have a talk like ladies whilst sticking together to the only point they understand.

Ladies ? Careful

[Guest]

Re: Statute Barred on Overdrafts.

And that time is when the contract is breached. Contract is breached when 1 maybe 2 at most payment are missed on a CC or loan.

Ha ha make your mind up, contract breached or one or two missed payments, two three or four, all coming apart isn't it?

[MissFM]

Re: Statute Barred on Overdrafts.

Ladies ? Careful

Steady on there Andy! :lol:

[Guest]

Re: Statute Barred on Overdrafts.

Steady on there Andy! :lol:

Not me Miss

[charharp]

Re: Statute Barred on Overdrafts.

Ha ha make your mind up, contract breached or one or two missed payments, two three or four, all coming apart isn't it?

The missed payments are the breach!!!!One or two depending on the terms and conditions that came with the account.

[MissFM]

Re: Statute Barred on Overdrafts.

The missed payments are the breach!!!!One or two depending on the terms and conditions that came with the account. .

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[jon1965]

Re: Statute Barred on Overdrafts.

Charharp, just a few of the comments you have made OTR which do not all follow what you have said on here

Re: Cause of action/statute barred

Originally Posted by sequenci
I think the main difficulty with overdrafts is that you need to look to the terms and conditions - and their constuction as to what would constitute a breach, and more specifically when a creditor could sue for the full amount outstanding. Some may be able to call in the overdraft whenever they so wish - others may breach if the holder of the overdraft does (or does not) do something.



Maybe because creditors are free to take away an overdraft anytime this makes 6 years from last payment stand up. We need court decisions on this, preferably in post Roman England.

Re: Cause of action/statute barred

Originally Posted by charharp
True a breach is required. Technically however a bank can withdraw an overdraftat any time, therefore when they withdraw it may be completely irrelevant in the eyes of the law as they are free to do it anytime they want to. Therefore limitations would run from last acknowledgement of the account which would be last activity by the debtor on the account. This is pure speculation on my part but makes sense.



They may be able to withdraw at anytime, but it's almost certainl that they would need to serve notice on the other party to do that.

Re: Cause of action/statute barred

Originally Posted by charharp
If what fletch, dodge and sequenci is saying is the case was true there should be plenty of evidence in post ice age UK of DCAS winning the case in court.



You know, it might actually be quite difficult. In the vast majority of scenarious we come across most DCAs generally give up unless the limitations argument from the debtor is so ridiculously spurious that they're never going to win. This is likely to be amplified with overdrafts as the rules are very likely to be determined by contractual terms - as such the DCAs may need to present them to the court - as I'm sure you can imagine many DCAs are unlikely to have them.

Re: Cause of action/statute barred

Dodge I've said this a million times and you've not answered it once because it proves you wrong beyond all doubt...

Its when the creditor has the option to, under the terms of the contract they have drawn up themselves, to demand full repayment. When they actually do is irrelevant

My previous post about an overdraft limitations running from last activity on the account is making more and more sense to me. A creditor can withdraw an overdraft any time they want so it's not going to determine limitations because they are free to do this whenever they want. So limitations is deferred to last payment in or out of the account or last written acknowledgement. If you're going to reply please answer the point in bold or otherwise it will be see as another foolish ploy to turn a blind eye to anything that proves you to be incorrect.

Originally Posted


by fletch70
Charharp
Sorry but on the other thread you seem to contradict yourself in that you say in my case you think it is from the date they demanded the repayment of the unarrangedoverdraft That is sometime after the last credit.
Looking at it from another perspective, say I had a few hundred thousand in an account with the bank and in another account with the same branch I owed £1000 on an arranged OD. Because I had so much money going through one account the bank kept that OD up and running but I never used the account. Then after 7 years I took all my money out , you seem to be suggesting that the £1000 would be SB



Demanding repayment of unarranged overdraft and it not being payed would in my eyes definitely begin limitations, I am speculating with my reasoning that it would run from last activity on the account but I think it makes sense. Anyhow what would the difference be, 1 month? The main point is I don't think it runs from when they recall it, although you may need a court hearing to get that proved which I don't have the energy for.

I think the £1,000 probably would be statute barred, however I have seen many T&C's state that the will close an overdraft if the account is inactive for 12 months. So worst case scenario is limitations would run from 12 month

s of inactivity because in the rules it says they can demand repayment at this point.

Andy, Not sure about letting that Dodge in as he can be a funny bugger. Sequenci can join though...and Fletch

[Guest]

Re: Statute Barred on Overdrafts.

The missed payments are the breach!!!!One or two depending on the terms and conditions that came with the account.

I thought you said it was the first missed payment, so I take then, that just one missed payment would not be a breach.

[Guest]

Re: Statute Barred on Overdrafts.

So you have found some loophole that goes aginst NDL and all other legal rulings advice that limitations runs ?
6 years after first missed payment

Just a reminder of what you were saying earlier(my emphasis)

[charharp]

Re: Statute Barred on Overdrafts.

Just a reminder of what you were saying earlier(my emphasis)

I've said about a million times on here and there that for CC and Loans it is 6 years since first missed payment but for overdrafts it is different. Everything I have said about overdrafts is specualtion...look at the end of the second box you quoted it actually says ''this is pure speculation''.

[charharp]

Re: Statute Barred on Overdrafts.

sequenci and fletch were not that bad and actually yielded to logic.

[MissFM]

Re: Statute Barred on Overdrafts.

I've said about a million times on here and there that for CC and Loans it is 6 years since first missed payment but for overdrafts it is different. Everything I have said about overdrafts is specualtion...look at the end of the second box you quoted it actually says ''this is pure speculation''.

,,,,