overdraft and statute barred

[la2011]

ahh i see.

Its strange because according to my credit file the default was put on in October 2006, however the last date that any money was paid in was late 2005. On my credit report it says 1 missed payment in October 2005, 2 in Nov 2005, 3 in December etc. Then from May to September 2006 they all show as 6 missed payments until the default is registered in October 2006. It pretty much took them a year to put on the default.

[BRIGADIER2JCS]

The default date and the date of the cause of action will

in most cases be different the last payment made + 1 month

starts the clock as a generalisation, a default should be

placed within 6 months but can often be later, the fact

that the debt has become SB does not mean the entry

must be removed from files it will remain 6 years

from the default date.

You can attempt to negotiate the removal of

a default in this situation but there is no obligation

for the creditor to do so.

A removed default will not dramatically boost your

credit status, lenders are looking now past the usual

3 years of residence and good credit management some

are asking for 6 years of records.

[la2011]

i think the chances of having the default removed are slim mostly because the default placed by lloyds has been removed and replaced with a default (of the same date) in the name of the DCA. Have lloyds broken some kind of law by taking a year to place a default? Is it worth asking lloyds to take back the debt from the DCA?

[Guest]

Overdrafts ....... are not covered

by the CCA 1974, .........

 

Brig.

 

in general, overdrafts can become subject to the consumer credit act. the act itself provides examples of where an o/d becomes 'running credit' subject to the act. an issue then is re an 'agreement' which they usually can claim 'exemption' from.

for o/d's since the recent consumer credit directives (eu), an agreement would be required and can be requested.

[BRIGADIER2JCS]

No they haven't 6 months is recommended but

not obligatory, I suspect the debt has been sold

on to the DCA, you should have been notified by

LLOYDS or the DCA of this change,.

Who is the DCA???

[la2011]

the DCA is robinson way who have now employed IND

[BRIGADIER2JCS]

in general, overdrafts can become subject to the consumer credit act. the act itself provides examples of where an o/d becomes 'running credit' subject to the act. an issue then is re an 'agreement' which they usually can claim 'exemption' from.

for o/d's since the recent consumer credit directives (eu), an agreement would be required and can be requested.

 

The point was that no |CCA actually exists so a request under sects.77/78 is no good.

[Guest]

The point was that no |CCA actually exists so a request under sects.77/78 is no good.

 

ok. thanks for clarifying.