Default notices applied to unauthorised overdraft under the CCA1974

[not-impressed]

Is the issuing of default notices on current account overdrafts covered by the Consumer Credit Act 1974 (or if this has been updated, by a more recent version) or something else?

If something else, what guidelines to the issuing of default notices and subsequently defaults on overdrafts apply?

Thanks in advance

[pt2537]

Is the issuing of default notices on current account overdrafts covered by the Consumer Credit Act 1974 (or if this has been updated, by a more recent version) or something else?

If something else, what guidelines to the issuing of default notices and subsequently defaults on overdrafts apply?

Thanks in advance

Yes, its a statutory requirement if you breach the agreement that a default is served before the creditor can call in the debt

[not-impressed]

Thanks.

A little more detail on this is that a bank issued a Final Demand for repayment of an overdraft balance referring to a default notice they had never sent. They have subsequently stated that as they'd issued other warnings (in other letters) that they might register a default with the CRAs, they'd fulfilled their obligations under the Consumer Credit Act, despite stating in writing they'd sent a default notice which they had not sent.

The Final Demand letter provided 18 days of notice for full repayment or an arrangement. The guidelines which I believe apply and they are obliged to follow, are the Principles for the Reporting of Arrears, Arrangements and Defaults at Credit Reference Agencies, state 28 days notice is required.

They then repeated to me in letters on several occasions that they'd registered a default with the CRAs despite not actually registering it until 6 months after they'd stated they had registered it.

In the interim I made an agreement with their collections department to completely repay the outstanding arrears with a lump sum of half the amount and 4 payments to cover the rest in total. At the point I made this agreement to the point I'd repaid the amount owed they didn't register anything with the CRAs. It was only when the full repayment was made (or within a few days of the final early repayment being made) that they registered the default and at that point only 2 of the 3 CRAs were notified of a default. .

They refuse to remove the default.

I believe they have acted very unfairly and unlawfully. Can anything be done?