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This is something I can never get my head round - defaults and overdrafts
Now the one thing I know is the CRA defaults are not necessarily related to S87(1) defaults
This is a retail bank account and all these things happened in 2013/2014
Had a overdraft , went over the limit
Bank wrote, stating OD limit but asking for full repayment - date A
Bank then wrote stating OD=0 and asking for full repayment - Date B
bank then wrote and sent a S87(1) DN with a remedy date of 14 days of service - Date C - yes i know that DN could be argued as bad but lets put that to one side. I did nothing, in fact, kept spending
Bank then wrote and sent another S87 (1) DN as above - Date D there was a difference of a couple of months between date C and D
Following day bank wrote with intention to record default with CRA date E
Default recorded D+35 days - Date F
So the question is, which would be the cause of action. I guess a DCA would say date F but any ideas which a court would say
I wonder because at some point we will be in that middle land between A and F and it seem they often issue claims quite close to date F
The account is currently oned by the OC and has been thru two DCA's but not heard for getting on 3 years now
@PT2537
Diana M
@Uncletomcobblyandall
Now the one thing I know is the CRA defaults are not necessarily related to S87(1) defaults
This is a retail bank account and all these things happened in 2013/2014
Had a overdraft , went over the limit
Bank wrote, stating OD limit but asking for full repayment - date A
Bank then wrote stating OD=0 and asking for full repayment - Date B
bank then wrote and sent a S87(1) DN with a remedy date of 14 days of service - Date C - yes i know that DN could be argued as bad but lets put that to one side. I did nothing, in fact, kept spending
Bank then wrote and sent another S87 (1) DN as above - Date D there was a difference of a couple of months between date C and D
Following day bank wrote with intention to record default with CRA date E
Default recorded D+35 days - Date F
So the question is, which would be the cause of action. I guess a DCA would say date F but any ideas which a court would say
I wonder because at some point we will be in that middle land between A and F and it seem they often issue claims quite close to date F
The account is currently oned by the OC and has been thru two DCA's but not heard for getting on 3 years now
@PT2537
Diana M
@Uncletomcobblyandall
