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Retch

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  1. A couple of times, when I visited the bank they asked me if I would be interested in swapping my student account for a standard account. I kept saying no. But eventually they changed the account anyway. The account number I have and the card for that account stayed exactly the same! But, the account statments are now titled "Standard account" instead of "Student Account". Interest was being applied to the overdraft. The account even shows that it was opened in 2004. I did get a leaflet through the post explaining the new account and it's charges. But this isn't an account that I signed to open. I know this is true because wage slips I have from a job that I took AFTER leaving Uni have the same account number as my "new" standard account.
  2. Hi all, I have a bank account with Natwest. Originally the account was a student account. In 2004 the bank wrote to me, informing me that as I was no longer a student, they would change my account to a standard current account. I didn't need to do anything, (or sign anything). I later found out that the authorised, interest free overdraft facility I had on my student account was no longer interest free. In fact it was an overdraft on the highest rate of interest. This only really equates to an average of £11.00 per month interest on the £800.00 balance. But as I have been a full-time parent since 2004, I've never paid off the overdraft. I wondered if I'm entitled to claim this back, as well as any charges?
  3. I sent Letter H Debt Factsheets - Liability for Debts and the Limitation Act
  4. I received a letter dated 26th November 2007 alleging that I owe £452 to Global Debt Recovery. I rang them up and it turns out that I owed Lloyds TSB money on a bank account in 1993 (ish). I don't remember ever having an overdraft or loan agreement of any kind with LTSB. I did open a bank account, back then when I got my first job that paid salary by BACS. Not long after though, I went to college and got a Career Development Loan through the Barclays Bank and I was using an account with Barclays. I simply stopped using the LTSB account and honestly forgot all about it. This would have been around 1994/1995. There are no adverse debts or information registered against me with Experian. I don't even know yet how much the original debt is for, what charges or interest is involved, whether LTSB attempted to take me to court over it, or if the debt has been registered in the past. If it was registered previously, it's clearly more than 6 years old. I've told Global three times, (by phone), that I believe the debt to be statued barred. All three of the agents tried the same tactic by saying, "you borrowed the money but didn't pay it back". One of the agents event went as far as saying that, "You need to look at Section 32 of the Limitation Act because you didn't tell the bank you moved address." The same agent even tried to convince me that even if the debt was statued barred, global would still try to recover the debt, that the debt could be registered against me and that if I didn't pay, the debt could be referred to other collection agencies. Needless to say, I'm not going to bother contacting these morons by telephone again. I've taken a letter from this website: Debt Factsheets - Main Menu I've emailed Global with the letter, plus I have hand written and signed a copy, which I photocopied before posting. I don't know what their response will be or what I should do next. I am not sure whether I should ignore Global completley and make contact with LTSB to dispute the matter? Or contact Global again in writing, demanding proof they actually own the debt and didn't just acquire a debt that's been previously written off by LTSB? I'm aware that if Global do legally own the debt but it's statued barred, they can still attempt to recover the money from me indefinitly. But without legal proceedings. Naturally this would be like some bloke in the street walking up to me and asking me for £452.00 I'd only have two words for that guy.... Get Stuffed.
  5. There is a time period that financial companies have in order to recover unpaid debts. The time period for unpaid debts depends on the circumstances. But in most cases it is 6 years. After that 6 year period, a debt CANNOT be recovered by legal action. This is a statued barred debt. Most of this can be read about in the Limitation Act 1980. http://www.lawcom.gov.uk/docs/cp151apa.pdf Pay particular attention to: Section 5: Time limit for actions founded on simple contract Section 30: Formal provisions as to acknowledgments and part payments Section 32: Postponement of limitation period in case of fraud, concealment or mistake The limitation period for debts starts when the company sends you the FIRST demand letter. Even if the demand letter is sent to your previous address. Some companies, like Global, are particularly clever at trying to use the fact that you didn't tell your bank you moved address, as an excuse to RESTART the limitation period. They may try to point out over the phone that you deliberatly didn't tell your bank. Essentially these people will try to call you a thief and a liar to get money from you that they CANNOT legally challenge in a court. Refer any phone calls to your correspondence. Note that although the debt actually exists, the collection company can actually try to persuade you to pay anyway. What they CANNOT do with statued barred debts is: Proceed with court summons. Register debt with credit reference agencies. Harrass you by letter or phone for money. Call at your home or place of work without prior consent. Harrass a third party (spouse or partner), for money. If you receive ANY letter from a company asking you for money for debts you think are very old, 1994-2000 etc, under no circumstances should you aknowledge the debt. Just say that your reply is in the post: To Global Debt Recovery Ref: ********* Account No: ************* Dear Sir/Madam, You have contacted me regarding the account with the above reference number, which you claim is owed by myself. I would point out under the Limitation Act 1980 Section 5 "an action founded on simple contract shall not be brought after the expiration of 6 years from the date on which the cause of the action accrued." I would also point out that the OFT says under their Debt Collection Guidance on statute barred debt that, "it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period." The last correspondence/payment/acknowledgement or payment of this debt was made over 6 years ago and no further acknowledgement or payment has been made since that time. Unless you can provide evidence of payment or written contact from me in the relevant period under Section 5 of the Limitation Act 1980, I suggest that you are no longer able to take any court action against me to recover the alleged amount claimed. The OFT Debt Collection Guidance states further that, "continuing to press for for payment after a debtor has stated that they will not be paying the debt because it is statued barred could amount to harrassment contrary to Section 40 (1) of the Adminstration of Justice Act 1970" I await your written confirmation that no further contact will be made concerning the above account and confirmation that this matter is now closed. I look forward to your reply, Yours Faithfully If you get a reply, with evidence, take it to your local citizens advice bureau for further advice.
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