Overdraft being chased

[ncf355]

Hi all,

I have a DCA chasing for 2 Overdraft balances they have purchased from the bank

I have looked at:

http://www.legalbeagles.info/forums/...HSBC-overdraft

and it seems to suggest I could claim the requirement for agreement documentation, as this was an agreed overdraft, but then went beyond the agreed amount.

The issue I have is as the original OD agreement was some time ago and the EC directives were 2010, does this legislation still apply?

Also, I'm assuming that at the point they wished to call the whole debt in, the OC should have issued a default notice under CCA 74' S87/88?

[ncf355]

Re: Overdraft being chased

I'm assuming that if I can prove no default notice I can get the OC to recall the accounts?

[Guest]

Re: Overdraft being chased

HI
I take it that you mean your current account had a facility where you could overdraw, rather than an agreed overdraft(ie a separate agreement).

The Copy regulations do not apply to overdrafts unfortunately.

The regulations introduced by the EU amendments regarding overdrafts(sections 74A,B) were effective on agreements entered into after the first of February 2011, for existing agreement annual statements should be provided this means that in this case the first annual statements should be sent on or before the first of February 2012.

Section 74B applies to all agreement whenever made if they go seriously over drawn.

[ncf355]

Re: Overdraft being chased

Hi,

it was a pre arranged overdraft for a "budget account"

[Guest]

Re: Overdraft being chased

Hi,

it was a pre arranged overdraft for a "budget account"

If an a agreement was made in respect of the facility at the time this would be applicable to the copy requirements of section 78, the act says "if any", however there was no requirement to make any such agreement due to the section 74 exemption, which was in force at the time so the bank can just say that there is none to copy.

The requirement for an executed agreement under section 61B did not come into play until feb 2011 along with the other requirements unfortunately.