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Hi i received a small claims summons on saturday from yuill + kyle solicitors on behalf of the lowell group regarding an old student overdraft account that i used to have with HBOS.
Brief history of the account the arranged overdraft was £400 the last i remember looking at my online statement the balance was £380. I remember this as a colleague at work happened to mention that there was new bank charges coming into effect where you would be charged £1 a day up to a certain amount and £2 over that amount, then £5 daily charge if you go over your limit the charges came in to effect dec 2009 i believe.
I have a very small feeling that this might be 5 years statute barred but not 100%. I have spoke to the bank to see if they can advise me on the last payment i made to the account but they cant see anything other than it has a balance of 1 pence they said they normally wipe it after 6 months or so and there would be no way to check this.
Back to my question,the balance on this debt is now £1178 broken down £995 HBOS £182 judicial expenses, which would mean HBOS applied charges totaling £615 £1 a day for 20 days then £5 a day for 119 days.
If the debt isn't statute barred would it be sensible to try and defend this on the basis that the debt is now 3 times what it was. I'm thinking do i contact yuill + kyle stating my defence which would be the original debt is made up of £615 in charges which i dispute (would the sheriff side with me on this) and offer to pay £380 the orig debt amount plus their costs, i'm presuming they maybe bought this debt for a fraction of the balance, so it may still work out profitable for them to accept rather than pay the solicitors to go to court and it might go in my favour to which it would possibly cost them more than they would get back from me.
ps if anyone know if there is a way to find out if the debt is statute barred that would be great.
Brief history of the account the arranged overdraft was £400 the last i remember looking at my online statement the balance was £380. I remember this as a colleague at work happened to mention that there was new bank charges coming into effect where you would be charged £1 a day up to a certain amount and £2 over that amount, then £5 daily charge if you go over your limit the charges came in to effect dec 2009 i believe.
I have a very small feeling that this might be 5 years statute barred but not 100%. I have spoke to the bank to see if they can advise me on the last payment i made to the account but they cant see anything other than it has a balance of 1 pence they said they normally wipe it after 6 months or so and there would be no way to check this.
Back to my question,the balance on this debt is now £1178 broken down £995 HBOS £182 judicial expenses, which would mean HBOS applied charges totaling £615 £1 a day for 20 days then £5 a day for 119 days.
If the debt isn't statute barred would it be sensible to try and defend this on the basis that the debt is now 3 times what it was. I'm thinking do i contact yuill + kyle stating my defence which would be the original debt is made up of £615 in charges which i dispute (would the sheriff side with me on this) and offer to pay £380 the orig debt amount plus their costs, i'm presuming they maybe bought this debt for a fraction of the balance, so it may still work out profitable for them to accept rather than pay the solicitors to go to court and it might go in my favour to which it would possibly cost them more than they would get back from me.
ps if anyone know if there is a way to find out if the debt is statute barred that would be great.
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