Statute Barred on Overdrafts.

[charharp]

Re: Statute Barred on Overdrafts.

It isn't.


They don't.

They write off the bad debt against their tax liability.

They still lose. Fact.

You owe a credit card £5,000, they sell it to a dca for £1,000 and write the other £4,000 off against tax.

To make things simple for you say a bank make a £1,000,000,000 profit they pay say 40% tax so they make £600,000,000 and pay £400,000,000 in tax. Now including the £4,000 they lose to you, the have now made £999,996,000 apply 40% tax to it and they now make 599,997,600 and pay tax of 399,998,400. So they still lose £2,400 out of the £5,000. You bunch are not on my level you should be honoured I'm arguing with you.

[charharp]

Re: Statute Barred on Overdrafts.

Statute says that for a regulated agreement they can not demand the early full repayment UNTIL a S87 DN is issued
In my experience with cards and loans (and I have a lot) once the DN has been issued the fees stop

But they can issue it after 1 missed payment, the fact that they choose not to till later on is irrelevant.

[Amethyst]

Re: Statute Barred on Overdrafts.

Thread closed and further insulting posts removed.