Statute Barred on Overdrafts.

[leclerc]

Re: Statute Barred on Overdrafts.

This is the BMW case btw: http://www.bailii.org/cgi-bin/markup...method=boolean

[charharp]

Re: Statute Barred on Overdrafts.

This is the BMW case btw: http://www.bailii.org/cgi-bin/markup...method=boolean

Thanks leclerc, I've never read it in such detail but it basically backs up the summary I read.

[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.

Andy I still don't get what you are arguing with me over. I never said a payment would be a COA, I only said a payment would reset the SB clock. I thought this is accepted as fact.

[CleverClogs]

Re: Statute Barred on Overdrafts.

I've had this argument on the consumer action group website but I got banned for being offensive

Why are you so sure he was a complete retard?

For all you know, he might have some bits missing.

[charharp]

Re: Statute Barred on Overdrafts.

Why are you so sure he was a complete retard?

For all you know, he might have some bits missing.

Haha complete probably was being too kind. You should read the thread if you have time.

[Guest]

Re: Statute Barred on Overdrafts.

Haha complete probably was being too kind. You should read the thread if you have time.

I read it and I must say that I m in total agreement with him, as it seems are most of the rest of the forum over there.

Sorry, but even if our opinions did clash I would not presume he was a "retard", the term is very insulting and if you are not careful you will find yourself out on your ear here also.

We are generally open to all opinions over here no matter how wrong they are, but insulting behavior and language like this is not acceptable anywhere i may suggest.
I have reported your post

[jon1965]

Re: Statute Barred on Overdrafts.

Why are you so sure he was a complete retard?

For all you know, he might have some bits missing.

Bad Cloggy. I will have to spank you

[wales01man]

Re: Statute Barred on Overdrafts.

Is there any need for this thread to descend the depths into name calling?

Like a lot of threads there are differences of opinion about the subject ,the only way in this case is to find someone who used the SB argument as a defence in a court action and to know if it was allowed by a Judge,

[jon1965]

Re: Statute Barred on Overdrafts.

Is there any need for this thread to descend the depths into name calling?

Like a lot of threads there are differences of opinion about the subject ,the only way in this case is to find someone who used the SB argument as a defence in a court action and to know if it was allowed by a Judge,

Walesman I couldn't agree more (although Cloggy loves it)
Apparently there are some but they are unreported so we would need some clarification from those on the inside.

[CleverClogs]

Re: Statute Barred on Overdrafts.

Sorry, but even if our opinions did clash I would not presume he was a "retard", the term is very insulting and if you are careful you will find yourself out on your ear here also.

We are generally open to all opinions over here no matter how wrong they are, but insulting behavior and language like this is not acceptable anywhere i may suggest.
I have reported your post

PAKP :nerd:

[Guest]

Re: Statute Barred on Overdrafts.

Is there any need for this thread to descend the depths into name calling?

Like a lot of threads there are differences of opinion about the subject ,the only way in this case is to find someone who used the SB argument as a defence in a court action and to know if it was allowed by a Judge,

Yes it is all just opinion at the end of the day until someone has a ruling one way or the other. There have been several case OTR where creditors have challenged SB claims on the grounds that the agreements were still live after the last payment, particularly on overdrafts, which I think will probably stand.

It seems quite well documented that COA is on demand on overdrafts.

The situation re credit cards is less clear. Unfortunately the issue comes up and is mentioned then the threads just don't get updated, so you never really reach any conclusion.

[charharp]

Re: Statute Barred on Overdrafts.

I read it and I must say that I m in total agreement with him, as it seems are most of the rest of the forum over there.

Sorry, but even if our opinions did clash I would not presume he was a "retard", the term is very insulting and if you are not careful you will find yourself out on your ear here also.

We are generally open to all opinions over here no matter how wrong they are, but insulting behavior and language like this is not acceptable anywhere i may suggest.
I have reported your post

So you think limitations runs from when a DN is issued?

There was 3 people, dodge, sequenci and fletch who had that opinion. Their biggest opponent Brigadier only appeared every now and again because he couldn't be bothered arguing with them. Everybody knew how futile it was arguing with him.

Nothing he produced supported his point, he just thought it did because he didn't understand it.

[charharp]

Re: Statute Barred on Overdrafts.

Walesman I couldn't agree more (although Cloggy loves it)
Apparently there are some but they are unreported so we would need some clarification from those on the inside.

I started a thread on their specifically for statute barred overdrafts, I asked people to post if they have claimed SB on an OD and tell us what the outcome was. There was no replies.

[wales01man]

Re: Statute Barred on Overdrafts.

My point was where the thread started to go,

The answer to the original question is out there somewhere just not here at the moment .

Seems to be a very grey area in debt world

[charharp]

Re: Statute Barred on Overdrafts.

My point was where the thread started to go,

The answer to the original question is out there somewhere just not here at the moment .

Seems to be a very grey area in debt world

For CC and loans there is not one shred of real or anecdotal evidence that suggests they are not SB 6 years after non payment. Overdrafts are more complicated but it's certainly not from the default date.

Their main 'evidence' for their argument was BMW v Hart and this is why they are wrong.....

It was a HP contract, the debtor did not borrow any money. They were leasing a car which they owned upon the completion of 36 monthly payments plus a balloon payment at the end. Until the contract was terminated alls the debtor owed was arrears, the rest of the money did not become due until both parties cancelled the contract, at that point every future monthly payment and the balloon payment became due and the amount BMW recovered from sale of the car would be refunded to the customer. With overdrafts, CC and loans the customer has already had the money and the contract does not have to be terminated for it to be owed. It says in T&C's that one missed payment is breach of contract and full outstanding balance can be demanded. In the BMW case no money had been borrowed so none was owed except for the arrears until the contract was terminated. The contract worded it like that because if it was a typical agreement like a loan or CC BMW would have had to wait for each monthly payment was missed before they could demand it as no money was actually owed.