timings of a default notice

[frisp]

What's the ruling regarding the time between non payment to receiving a default notice

[MissFM]

Re: timings of a default notice

Don't know the answer sorry but love you quote and motto Frisp!

[gravytrain]

Re: timings of a default notice

The CCA recommends that the creditor serves a notice of arrears(section 86C), 2 months after the breach before a default notice is sent,

It really depends on what your agreement says, but you could make a case for them jumping the gun if they issued a section 87 before this. There is no upper limit on an open ended account.

[frisp]

Re: timings of a default notice

The CCA recommends that the creditor serves a notice of arrears(section 86C), 2 months after the breach before a default notice is sent,

It really depends on what your agreement says, but you could make a case for them jumping the gun if they issued a section 87 before this. There is no upper limit on an open ended account.

Any idea what the section number is that confirms the 2 mth restriction.

Some background a company defaulted me 4 days after a missed payment, despite my explaining that the error occurred due to my new Bank (I changed banks) had not made the payment as they assured they would as part of the change over process.

I just need enough to show the OFT that they are guilty of unfair business practices

[gravytrain]

Re: timings of a default notice

Any idea what the section number is that confirms the 2 mth restriction.

Some background a company defaulted me 4 days after a missed payment, despite my explaining that the error occurred due to my new Bank (I changed banks) had not made the payment as they assured they would as part of the change over process.

I just need enough to show the OFT that they are guilty of unfair business practices

Yes its the one quoted section 86C (cca 2006), It doesn't say that a dn cannot be issued before this but it does indicate that the debtor should be advised before further action is taken.

To support this contention you could say that you would not have received the OFT debt guidance and notifications of your rights to apply for time orders etc.

[frisp]

Re: timings of a default notice

Yes its the one quoted section 86C (cca 2006), It doesn't say that a dn cannot be issued before this but it does indicate that the debtor should be advised before further action is taken.

To support this contention you could say that you would not have received the OFT debt guidance and notifications of your rights to apply for time orders etc.

Ok so the 2 months is more custom and proactice, if I read the guidance correctly as long as they provide you with OFT debt guidance and notifications of your rights they can issue the DN at any time and wait 14 days before taking further steps.

Which is exactly what they have done.

thanks anyway