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received a letter from a DCA last October asking for payment on an overdraft from 2008, the account was opened in 1994, I tried to close the account in 2008 but couldn’t because it was £80 OD, charges took this to £478 then the bank put a hold on the account in 2011, then defaulted it on March 22nd 2019. Last week the DCA offered a 70% discount to partially settle the account but is it statute barred?? It still shows as default ed on my credit file? Also would it be worth paying the discount? It states it will be a non contractual waiver and doesn’t change the terms of your original agreement? Would this start the clock ticking again and liable for the rest?? Quite confusing as to where I stand and my best course of action. Thanks.
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Has a payment been made on the account in the last 6 years?
Has the debt been acknowledged in writing in the last 6 years? -
No payment the account has been dormant since 2008, I phoned the bank in March 2019 to offer a reduced payment and close account as it was mostly all O/D charges but they refused and put the account to default, last October the debt was purchased by a DCA who are now sending letters wanting payment, the 70% reduction is tempting to have this gone but I’m worried paying the partial payment will kickstart the 6 year and they then come after the remainder or sell it on?Comment
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Send the following statute barred letter.
Make sure you get Proof of Postage
https://legalbeagles.info/forums/for...ed-debt-letterComment
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Is the cause of action not the default?? Letter sent today. Thanks.Comment
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Yes, 6 years from the Default date. The account is so old (1994) that they would have great difficulty getting hold of the original agreement, so the account is 'unenforceable' through the Courts. The Default will drop off your credit file in March this year. So they are wasting their time chasing it. See what they come back with.Originally posted by Badhead View PostComment
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