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Help please with defaulted accounts

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Hi all, new here & desperate for help please. RBS are taking me to court as I could no longer afford to pay my overdrafts.

 

 

The amounts totalled around 6k. After charges and interest this rose to 8.5 k. I complained to RBS and they refunded down to 5.7k. I'm with the Cccs who told me to offer a £5 per month payment which rbs accepted with condition I agreed to a charging order on my house which I told them to shove ..

 

As it stands I also asked to see my original signed agreements for the accounts - they have said that because the accounts were opened in 1998 they are no longer available.

 

Is there any defence to any if this or should I just admit the lower balance and hope for a sympathetic judge to get a payment plan agreed. Thanks in anticipation.

Edited by citizenB

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The RBS...............................again. Anyone would think they'd never been bailed out before!

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HI welcome to CAG,there are no regulated agreements for overdrafts as such usually a letter of acceptance of the facility is issued, but documents should be kept for 6 years after the account has been closed.

It would I feel have been best to accept the CO and pay the £5 deal that was open, a judge may not view this favourably.


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Hi thanks for the reply & welcome. RBS have stated that they only needed to keep the docs for 6 years from the start of the account.

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Hi thanks for the reply & welcome. RBS have stated that they only needed to keep the docs for 6 years from the start of the account.

in that they are wrong 6 years from closure!! You can challenge that.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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in that they are wrong 6 years from closure!! You can challenge that.
thank you yes- I specifically said that it was my understanding that they had to keep the signed docs for 6 years After closure - rbs stated clearly that it was 6 years from signing. Thought that was bs - I'll write to Cobbetts & challenge them on this. Thank you !

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Good be very positive in your approach!!!


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Is there any document retention code or practice protocol regarding this I can quote that you're aware of brigadier ? - thanks again

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Is there any document retention code or practice protocol regarding this I can quote that you're aware of brigadier ? - thanks again

 

Do you mean for the retention time ?

 

I believe it is covered in the Tax and Money Laundering codes..

 

Money laundering act 2003

Post 6 by cerberusalert

http://www.consumeractiongroup.co.uk/forum/show-post/post-2990050.html

 

6. - (1) A must maintain procedures which require the retention of the records prescribed in paragraph (2) for the period prescribed in paragraph (3).

 

(2) The records are -

 

(a) where evidence of identity has been obtained under the procedures stipulated by regulation 4 (identification procedures) or pursuant to regulation 8 (casinos) -

 

(i) a copy of that evidence;

 

(ii) information as to where a copy of that evidence may be obtained; or

 

(iii) information enabling the evidence of identity to be re-obtained, but only where it is not reasonably practicable for A to comply with paragraph (i) or (ii); and

 

 

(b) a record containing details relating to all transactions carried out by A in the course of relevant business.

 

 

(3) In relation to the records mentioned in paragraph (2)(a), the period is -

 

(a) where A and B have formed a business relationship, at least five years commencing with the date on which the relationship ends; or

 

(b) in the case of a one-off transaction (or a series of such transactions), at least five years commencing with the date of the completion of all activities taking place in the course of that transaction (or, as the case may be, the last of the transactions).

 

 

(4) In relation to the records mentioned in paragraph (2)(b), the period is at least five years commencing with the date on which all activities taking place in the course of the transaction in question were completed.

 

(5) Where A is an appointed representative, his principal must ensure that A complies with this regulation in respect of any relevant business carried out by A for which the principal has accepted responsibility pursuant to section 39(1) of the 2000 Act.

 

(6) Where the principal fails to do so, he is to be treated as having contravened regulation 3 and he, as well as A, is guilty of an offence.

 

(7) "Appointed representative" has the meaning given by section 39(2) of the 2000 Act and "principal" has the meaning given by section 39(1) of that Act.

Vjohn on Money laundering law

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?245159-series3-v-MBNA-Optima&p=3093892&viewfull=1#post3093892

 

 

 

Money Laundering Regulations 2007 No. 2157 15th December 2007

 

Record-keeping

 

19.—(1) Subject to paragraph (4), a relevant person must keep the records specified in paragraph (2) for at least the period specified in paragraph (3).

(2) The records are—

(a)a copy of, or the references to, the evidence of the customer’s identity obtained pursuant to regulation 7, 8, 10, 14 or 16(4);

(b)the supporting records (consisting of the original documents or copies) in respect of a business relationship or occasional transaction which is the subject of customer due diligence measures or ongoing monitoring.

(3) The period is five years beginning on—

(a)in the case of the records specified in paragraph (2)(a), the date on which—

(i)the occasional transaction is completed; or

(ii)the business relationship ends;


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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Fantastic , thank you again for your help! You never know , it might have some leverage. I'll let you know the response ? Thanks

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If you need help drafting your response, just shout.

 

Do please remember that if a claim has been issued, there is only so much time to respond.

 

Issue date + 5 for service + 14 to acknowledge claim + 14 to submit defence if that is your intention.

 

Can you let us know exactly what it says on the claim form? The reason they are saying they have issued the claim ?


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Hi Citizen thanks for the reply, the particulars of claim are:

"The claimants claim relates to outstanding bank accounts maintained by the defendant with the claimant as follies : (lists seven accounts) - The claimant is the holder of a license under the consumer credit act 1974. The claimant has made demand /issued default notice in respect of the outstanding accounts. The def has failed to repay and/or the default notice has not been complied with (never received default notice &RBS say they don't keep copies) The total amount outstanding set out above includes accrued interest at the relevant agreement rate (contractural) from the date of demand /termination date to the date of issue. And the claimant claims 1.£8,959.04 2. Costs 3. Interest pursuant etc. " Rbs haven't amended the claim amount with the court when they took off all the interest & charges accrued. Thanks for any help - its greatly appreciated

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Did they send a demand(s) ?

 

7 accounts ?

 

Are these all current accounts with overdrafts ?

 

Can you perhaps give a little more detail.

 

You got to a point where you could no longer service the account(s)

 

Did you speak to the bank and ask for help - what was their response.

 

Do you have other debts with more priority?


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Yes, my finances were /are dire. Income and expenditure sent to rbs , prepared by Cccs. The response from the bank was to refund the interest & charges. I'm worried by the charging order threat as this will add more costs & interest on ! It stinks that they can't even produce my original spplications - the reason I ask for them is because I don't ever remember signing any agreement

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