Statute Barred on Overdrafts.

[Guest]

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''.

I do need a lie down you are right.

a couple of posts ago I could have sworn you said that the COA was prescribed by the contractual term.

Post 57 "The missed payments are the breach!!!!One or two depending on the terms and conditions that came with the account. "

[Guest]

Re: Statute Barred on Overdrafts.

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

They all speak very highly of you as well.

Strangely they all seem to think they agree with each other, odd that

[charharp]

Re: Statute Barred on Overdrafts.

They all speak very highly of you as well.

Strangely they all seem to think they agree with each other, odd that

I did disagree with them all but sequenci and fletch would admit when logic defeated them.

[Guest]

Re: Statute Barred on Overdrafts.

I did disagree with them all but sequenci and fletch would admit when logic defeated them.

Must have missed that, would this be your logic ?

[charharp]

Re: Statute Barred on Overdrafts.

I do need a lie down you are right.

a couple of posts ago I could have sworn you said that the COA was prescribed by the contractual term.

Post 57 "The missed payments are the breach!!!!One or two depending on the terms and conditions that came with the account. "

Yeh and for loans and CC the contract is after 1 or 2 missed payments.

overdrafts have no set repayment that's why they are different.

[MissFM]

Re: Statute Barred on Overdrafts.

I did disagree with them all but sequenci and fletch would admit when logic defeated them.

Must have missed that, would this be your logic ?

[Guest]

Re: Statute Barred on Overdrafts.

Yeh and for loans and CC the contract is after 1 or 2 missed payments.

overdrafts have no set repayment that's why they are different.

.

Just before I do what do you mean by "the contract", is there just one that they share between them ?

[jon1965]

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''.

Yeh and for loans and CC the contract is after 1 or 2 missed payments.

overdrafts have no set repayment that's why they are different.

Those two quotes do not follow. So is it first missed payment or one or two or something else.......you decide.

I have to say i was under the impression that Fletch while maybe waiting to be convinced about the need for a DN pretty much agreed with Dodge. I was also under the impression that Sequenci was on the same boat and has vast vast day to day experience.

Personally I am a little worried about the need for termination as it can take a while to default. Then what happens if the DN is bad but then I suppose the creditor is in breach of contract.

There really is no need to be rude to Andy

[Guest]

Re: Statute Barred on Overdrafts.

It is all getting very silly now so I will leave you to it,

[charharp]

Re: Statute Barred on Overdrafts.

....

[MissFM]

Re: Statute Barred on Overdrafts.

There really is no need to be rude to Andy

:amen:

[charharp]

Re: Statute Barred on Overdrafts.

Those two quotes do not follow. So is it first missed payment or one or two or something else.......you decide.

I have to say i was under the impression that Fletch while maybe waiting to be convinced about the need for a DN pretty much agreed with Dodge. I was also under the impression that Sequenci was on the same boat and has vast vast day to day experience.

Personally I am a little worried about the need for termination as it can take a while to default. Then what happens if the DN is bad but then I suppose the creditor is in breach of contract.

There really is no need to be rude to Andy

It depends on the terms and conditions but most of the time one.

[Guest]

Re: Statute Barred on Overdrafts.

Those two quotes do not follow. So is it first missed payment or one or two or something else.......you decide.

I have to say i was under the impression that Fletch while maybe waiting to be convinced about the need for a DN pretty much agreed with Dodge. I was also under the impression that Sequenci was on the same boat and has vast vast day to day experience.

Personally I am a little worried about the need for termination as it can take a while to default. Then what happens if the DN is bad but then I suppose the creditor is in breach of contract.

There really is no need to be rude to Andy

No they don't.

The point is that the agreement has to be ended before the creditor can be entitled to demand early payment, this can be accomplished by a term in the agreement or via repudiatory breach of contract, usually the former in a credit card agreement.

The COA would be the point indicated where the agreement could be ended. Not the first missed payment, one payment would normally be a contractual breach only and incur merely a contractual penalty.

We have seen an about face from our friend here, initially we were in a situation were somehow each missed payment was creating a COA and each new payment was re-setting it, even though the contract was continuing, an odd scenario to be sure.
He now seems to be slowly moving in the right direction.

[charharp]

Re: Statute Barred on Overdrafts.

Andy you don't understand the information. Everything I have said is in line and consistence.

[charharp]

Re: Statute Barred on Overdrafts.

You even give the impression you have contact with members of CAG when everything you have said that implies knowledge about them is just repeating opinions aired on that one thread.