Statute Barred on Overdrafts.

[Guest]

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.

So are you now saying the COA is from the pont the creditor can take action and not activity on the account, I am A llittle confused now

[charharp]

Re: Statute Barred on Overdrafts.

We are getting mixed here. The argument with dodge was about SB in general not just overdrafts. He claims CC and loans are not barred until 6 years after the default date. The overdraft issue is more complicated

[Guest]

Re: Statute Barred on Overdrafts.

So you are saying that the COA would start on just the missed payment, what happens if the debtor starts payment again ? just misses one payment

[charharp]

Re: Statute Barred on Overdrafts.

Limitations would be reset by the payment.

[jon1965]

Re: Statute Barred on Overdrafts.

Now i am confused. Can I suggest you give National Debt line a call re COA. In their fact sheet it says it depends on what is in the contract and may be some time from the missed payment.
I have been looking at it again and from what I can see a couple of people have said that the BMW v Hart case may have an impact on when the COA is.
If you are going to claim SB you need to be very very careful how you word it as you could end up resetting the limitations clock.

As for the default I think that getting it changed would be difficult and even more so without admitting the debt is yours.

Even though it is another forum I would be careful about naming names without fact to back up your opinion.

[Guest]

Re: Statute Barred on Overdrafts.

Limitations would be reset by the payment.

Oh I see acknowledgement under section 29.

I suppose the obvious question would be.
If they are both parties to the contract, which they are at this point, why would there need to be any acknowledgement..
or perhaps COA is reset on every payment

However interesting viewpoint.

[charharp]

Re: Statute Barred on Overdrafts.

Now i am confused. Can I suggest you give National Debt line a call re COA. In their fact sheet it says it depends on what is in the contract and may be some time from the missed payment.
I have been looking at it again and from what I can see a couple of people have said that the BMW v Hart case may have an impact on when the COA is.
If you are going to claim SB you need to be very very careful how you word it as you could end up resetting the limitations clock.

As for the default I think that getting it changed would be difficult and even more so without admitting the debt is yours.

Even though it is another forum I would be careful about naming names without fact to back up your opinion.

National Debtline said it depends on the terms on conditions.

BMW v Hart was all about when limitations started from. It was a HP account which specifically stated in the terms and conditions that both parties had to agree to termination before the outstanding amount could be demanded. I read it and initially it was ruled SB but overturned on appeal. Does not apply to loans and CC at all.

[charharp]

Re: Statute Barred on Overdrafts.

Oh I see acknowledgement under section 29.

I suppose the obvious question would be.
If they are both parties to the contract, which they are at this point, why would there need to be any acknowledgement..
or perhaps COA is reset on every payment

However interesting viewpoint.

There are two scenarios to your suggestions.

1. There is one missed payment, payment is made later on...later charges ect applied to account next months payment made on time and account continues as normal.

2. Payment is missed, creditor demands payment but debtor doesn't pay...account is terminated and full payment is demanded. (Unlikely after one missed payment but they have the right to do so).

In scenario one the account is brought back in line and any further missed payments will be another COA. In scenario 2 the account is finished, any further payments reset SB clock because it acknowledges the debt.

[Guest]

Re: Statute Barred on Overdrafts.

There are two scenarios to your suggestions.

1. There is one missed payment, payment is made later on...later charges ect applied to account next months payment made on time and account continues as normal.

2. Payment is missed, creditor demands payment but debtor doesn't pay...account is terminated and full payment is demanded. (Unlikely after one missed payment but they have the right to do so).

In scenario one the account is brought back in line and any further missed payments will be another COA. In scenario 2 the account is finished, any further payments reset SB clock because it acknowledges the debt.

Is there any authority to show that the COA is not only started by a breach but also by a payment?

I suppose that in theory someone can be SB even though they are still under a contract in this case, as I said interesting Idea.

[jon1965]

Re: Statute Barred on Overdrafts.

Charharp
Yes NDL actually say it can be complicated so give them a call. As for BMW i have also read the case and didn't see the actual contract. Could you link it for me.
It seems to me that Mr Hart stopped paying and returned the car. It took a little while for BMW to accept that and terminate the agreement. To my mind pretty much like if i miss a payment.

I am not sure why the fact it was accepted as SB originally is relevant. If i am convicted of murder but on appeal acquitted does that mean you think i am still guilty?

[charharp]

Re: Statute Barred on Overdrafts.

Is there any authority to show that the COA is not only started by a breach but also by a payment?

I suppose that in theory someone can be SB even though they are still under a contract in this case, as I said interesting Idea.

Payment can never be cause of action, it will just reset clock once a prior COA has taken place.

[charharp]

Re: Statute Barred on Overdrafts.

Charharp
Yes NDL actually say it can be complicated so give them a call. As for BMW i have also read the case and didn't see the actual contract. Could you link it for me.
It seems to me that Mr Hart stopped paying and returned the car. It took a little while for BMW to accept that and terminate the agreement. To my mind pretty much like if i miss a payment.

I am not sure why the fact it was accepted as SB originally is relevant. If i am convicted of murder but on appeal acquitted does that mean you think i am still guilty?

Im on my phone but I will find it for you when I get to my laptop. Basically the contract had a specific clause in it that both parties had to agree to termination of the contract before the sum could be demanded. Before that only the arrears could be demanded. After 2 missed payments BMW took this as Hart wanted to terminate the agreement and accepted it then demanded full repayment and limitations ran from that point.

the fact that it was SB originally shows that is is very unusual for a debt not to be barred 6 years after last payment. I read something that said the judge had said this particular case was very peculiar. It was a legal firms website I think not just a post on a forum.

[charharp]

Re: Statute Barred on Overdrafts.

Im on my phone but I will find it for you when I get to my laptop. Basically the contract had a specific clause in it that both parties had to agree to termination of the contract before the sum could be demanded. Before that only the arrears could be demanded. After 2 missed payments BMW took this as Hart wanted to terminate the agreement and accepted it then demanded full repayment and limitations ran from that point.

the fact that it was SB originally shows that is is very unusual for a debt not to be barred 6 years after last payment. I read something that said the judge had said this particular case was very peculiar. It was a legal firms website I think not just a post on a forum.

Also I never saw the complete contract, I only saw quotations of the judges ruling on a legal firms website about limitations.

[Guest]

Re: Statute Barred on Overdrafts.

Payment can never be cause of action, it will just reset clock once a prior COA has taken place.

It is only my opinion of course, but there is a reason why you do not show any legislation or authority, you have invented a system which is entirely based on your beliefs and bares absolutely no relation to the one prescribed in the SOL 1980.

I suspect it would be impossible to show you your errors because you refuse to admit that there are authorities out there that have a different view. I understand your frustration with everyone else who seems to understand the way this works and refuses to adopt your own personalized universal concept, but sadly there is only you can remedy the situation.

[charharp]

Re: Statute Barred on Overdrafts.

It is only my opinion of course, but there is a reason why you do not show any legislation or authority, you have invented a system which is entirely based on your beliefs and bares absolutely no relation to the one prescribed in the SOL 1980.

I suspect it would be impossible to show you your errors because you refuse to admit that there are authorities out there that have a different view. I understand your frustration with everyone else who seems to understand the way this works and refuses to adopt your own personalized universal concept, but sadly there is only you can remedy the situation.

I don't understand what the point of contention is here?