Lowell (who else...?) and default date

[Engels]

Hello to all,

Decided to ask a question here as have found a great deal of useful info on here, and quite a bit seems to refer to an outfit based in Leeds....

Basically, had an authorised overdraft with Halifax £2000; relocated a couple of times in 2009. The second time I moved abroad. Informed Halifax, but heard nothing.
Returned to UK this year. Check credit file. Looks like account has been closed and passed on to Lowell for collection.
On the credit file default is registered as April 2010. I know that I left the UK in September 2009 and that there was no activity after that date. However, with an overdraft the SOL works differently to say a credit card.
So, when would this be statute barred? Is it from when the facility was withdrawn? Or when I last made payment? Or the default notice? Or the default date on the credit file? Or none of those and something else?
Would the default notice have been sent before the credit file showed a default or after?

Should point out that have heard nothing yet from the Leeds crew so the impending statute barred date might bring them out of the woodwork. Just like to know when an overdraft is subject to SOL.

Thanks.

[nemesis45]

Re: Lowell (who else...?) and default date

Hello to all,

Decided to ask a question here as have found a great deal of useful info on here, and quite a bit seems to refer to an outfit based in Leeds....

Basically, had an authorised overdraft with Halifax £2000; relocated a couple of times in 2009. The second time I moved abroad. Informed Halifax, but heard nothing.
Returned to UK this year. Check credit file. Looks like account has been closed and passed on to Lowell for collection.
On the credit file default is registered as April 2010. I know that I left the UK in September 2009 and that there was no activity after that date. However, with an overdraft the SOL works differently to say a credit card.
So, when would this be statute barred? Is it from when the facility was withdrawn? Or when I last made payment? Or the default notice? Or the default date on the credit file? Or none of those and something else?
Would the default notice have been sent before the credit file showed a default or after?

Should point out that have heard nothing yet from the Leeds crew so the impending statute barred date might bring them out of the woodwork. Just like to know when an overdraft is subject to SOL.

Thanks.

Hi welcome to LB,

OD's and current accounts are exempt from parts of CCA 1974, no section 87 default notice is needed prior to registering a default. a Demand for Immediate Repayment in Full is sent, if unanswered a Final Demand is sent giving a last chance to remedy the status of the account.
It is taken generally as the date the creditor can first demand early repayment of all monies outstanding.
There is some feeling that the date a default was registered this stems from an Appeal Court Case on an Hire Purchase Agreement, however it has not as far as I know been widely used.

Some creditors Barclays and Lloyds spring to mind often place defaults quite late on current accounts and OD's
Are you being chased for this?

nem

[Engels]

Re: Lowell (who else...?) and default date

Thanks nem,

Not being chased at present, but would like to be ready as I suspect the nearer the time the more likely it is that I'll hear something - never know, might be lucky, just taking a brief look for now
eep:

So forgive my stupidity (my wife never does, but that's another matter.....) but how soon are demands for immediate repayment sent? I never received one from the bank, and then when might the final demand be sent? I know there can be no certain answer, but could the bank leave a year in between the two?
My credit file shows a date early next year as being the default date......

[Engels]

Re: Lowell (who else...?) and default date

Bump