Statute Barred on Overdrafts.

[charharp]

Re: Statute Barred on Overdrafts.

I think it was before the arrangement to pay anyway, 1 month in arrears suggest the terms and conditions have been broken.

I've had this argument on the consumer action group website but I got banned for being offensive The most experienced people and the site team seemed to be in agreement that limitations would run from when I entered into an unplanned overdraft. But no conclusive evidence could be found.

[Guest]

Re: Statute Barred on Overdrafts.

I think it was before the arrangement to pay anyway, 1 month in arrears suggest the terms and conditions have been broken.

I've had this argument on the consumer action group website but I got banned for being offensive The most experienced people and the site team seemed to be in agreement that limitations would run from when I entered into an unplanned overdraft. But no conclusive evidence could be found.

Many on here have been banned from there, however name calling is not particularly welcomed here either of course.

I must admit I think you are mistaken, the "suggestion theory" doesn't sound very convincing to me either TBH .

[charharp]

Re: Statute Barred on Overdrafts.

There's a difference between someone disagreeing with you with logically sound arguments and someone being too simple to understand how wrong he is. He was the latter, I wasn't the only one who had a problem with him, he was a laughing stock.

Many of the site team on there were confidence OD are accepted as SB 6 years after last payment. They said they had been involved in a large number of cases involving overdrafts over the years and that every single one was accepted as SB 6 years after last payment.

I proposed a theory that because COA is when a creditor is first able to demand full repayment that SB on OD are referred to last activity because a creditor is free to withdraw an OD and demand it be repaid any time they wish.

[Guest]

Re: Statute Barred on Overdrafts.

I proposed a theory that because COA is when a creditor is first able to demand full repayment that SB on OD are referred to last activity because a creditor is free to withdraw an OD and demand it be repaid any time they wish.

So even paying into am active OD is a COA ?

[charharp]

Re: Statute Barred on Overdrafts.

No, it's just a theory but it's more complicated than that. If true there is no COA on an overdraft because they are free to withdraw and demand an overdraft be paid anytime they wish without you breaking any terms and conditions. So limitations is referred to last payment or acknowledgement.

[Guest]

Re: Statute Barred on Overdrafts.

No, it's just a theory but it's more complicated than that. If true there is no COA on an overdraft because they are free to withdraw and demand an overdraft be paid anytime they wish without you breaking any terms and conditions. So limitations is referred to last payment or acknowledgement.

did you see the linkk earlier in this thread, it seems to say " on demand"

Do you have any similar though conflicting evidence to support your case

[charharp]

Re: Statute Barred on Overdrafts.

I know but it seems in real life it runs from last payment. The site team on CAG said they had never seen or heard of a case where SB was rejected on an overdraft 6 years after last payment. I was just putting theory forward as to why.

[jon1965]

Re: Statute Barred on Overdrafts.

Well you are in good company being banned from there. The site is so big and covers so many areas lots of the site team only have limited knowledge. One of the ex site team talks complete tosh half the time with hints about knowing things but never any evidence. Of course one of the site team works for the parent charity of NDL and another I think for CAB although not sure.

As an aside i thought almost any credit agreement can be cancelled at any time with notice.

[jon1965]

Re: Statute Barred on Overdrafts.

I know but it seems in real life it runs from last payment. The site team on CAG said they had never seen or heard of a case where SB was rejected on an overdraft 6 years after last payment. I was just putting theory forward as to why.

Charharp,
I do browse over there sometimes and saw some of that thread but it was so long that I couldn't keep up. I can't see any of the site team saying that in fact sequenci says just the opposite.
As for a certain military gentleman , well with the best will in the world I would ask why he is ex site team and why cant he send pms anymore.

[Guest]

Re: Statute Barred on Overdrafts.

I know but it seems in real life it runs from last payment. The site team on CAG said they had never seen or heard of a case where SB was rejected on an overdraft 6 years after last payment. I was just putting theory forward as to why.

I think there are a few on here, but please don.t ask me to find em.

Of course if this is the case someone should be able to say why it is so, I would've thought

[Guest]

Re: Statute Barred on Overdrafts.

Charharp,
I do browse over there sometimes and saw some of that thread but it was so long that I couldn't keep up. I can't see any of the site team saying that in fact sequenci says just the opposite.
As for a certain military gentleman , well with the best will in the world I would ask why he is ex site team and why cant he send pms anymore.

Must admit I an having problems finding support for this over there

[charharp]

Re: Statute Barred on Overdrafts.

I had private inbox conversations with them, they supported my view but didn't want to be dragged into the argument on the forum.

An agreement can be cancelled anytime but loans and CC have a set repayment and breaching that is a COA which starts limitations. An OD has no set repayment and if exceeding your overdraft limit to the point of having arrears registered on your isn't a COA then what is?

You may say that being recalled is the COA, if true then consider this point. It is clear from all rulings that limitations runs from when a creditor is first able to demand full repayment, not when they actually do. Otherwise a creditor could suspend limitations indefinitely. It's the time of the breach, for loans and CC is first missed payment. At this point the creditor can demand full repayment under their T&c's. But for an overdraft they can demand full repayment without any breach of contract, limitations runs from the first instance a creditor can demand full repayment which for an overdraft is whenever they want. So the first instance they could demand full repayment is the day you first utilised your overdraft funds. I propose that limitations is deferred to last payment or acknowledgement because of this.

This is pure speculation on my part but I have been unable to find anyone saying an OD was refused SB 6 years after last payment because the OD was recalled less than 6 years ago.

[charharp]

Re: Statute Barred on Overdrafts.

Dodgeball presented a case from 19th century India to support his point. The most farcical thing about it was it didn't even do that. He thinks limitations runs from when the DN was issued. That's why the site team was reluctant to get drawn in I think they knew what a foolhe was.

[Guest]

Re: Statute Barred on Overdrafts.

Dodgeball presented a case from 19th century India to support his point. The most farcical thing about it was it didn't even do that. He thinks limitations runs from when the DN was issued. That's why the site team was reluctant to get drawn in I think they knew what a foolhe was.

I must say that it is somewhat disingenuous of the site team not to support you publicly. Would like to see the post you mention regarding Indian law you can post links on here

[charharp]

Re: Statute Barred on Overdrafts.

I asked them for their opinion because of their experience and they all said independently they think it's 6 years from last payment. I'm on my phone art he minute but I'll look for it on my laptop.

dodgeball presents cases where the judge ruled limitations is from when a creditor first had the option to demand payment, not when they actually do and that anything from the breach to taking action is just a procedural formality that doesn't affect limitations. He does this to support his point that limitations is from the DN because it's only at that point that the creditor can demand full payment. He's so simple than he doesn't get that issuing a default notice ect is just a formality, if it wasn't a creditor could suspend limitations forever. One of the cases he cited specifically said this. To be fair to him I don't think he's malicious, in the discussions he just doesn't seem to keep pace with anything...he can't understand key points and he claims people have said things they haven't...he's just a bit slow and can't see it.