unauthorized overdraft

[Elle.15]

Hello everyone,

I wanted to ask some information and if, it's possible, help.

My boyfriend stopped using his silver vantage bank account in July/ August 2012 without closing it (stupid uh?! I know). In September he received a letter saying that he had to pay £70. He didn't have any money so he decided to postpone and postpone it.

After a few month we, or at least Me, completely forgot about it also because they didn't send any notice letter after that one.

Yesterday I remembered about it and ask him to check how much he had to pay and the ATM retained his debit card (it was the first time he used after august 2012).

I told him that we absolutely need to go and fix the situation But I'm really scared that we'll need to pay a lot of money.

Why we did not received any letter of notice after September anyway?

 

Thanks

[fkofilee]

Best Thing To Do?; Go To Lloyds And See How Much You Owe, Take It Home And See What You Can Do.

[BRIGADIER2JCS]

The very first thing for him to do is check his credit reference files, to see if the bank has reported a default on the account.

 

Experian (Credit Expert) and Equifax have 30 day free trials, CallCredit has a free offshoot 'Noddle' but this is not always reliably up to date.

[2Grumpy]

If they have applied overdrawn charges entirely because of their account charges, you should be able to claim those back, even if it requires taking them tothe small claims court

[BRIGADIER2JCS]

Note IF a DEFAULT SUM is made up of CHARGES without which the account would not have been defaulted NO DEFAULT SHOULD BE PLACED: (source ICOs Technical Guidance on Defaults).

[bushell]

Hi , I am new to this thread. Can some one tell me what the difference is between an Overdraft and being Over drawn means.

[BRIGADIER2JCS]

Hi , I am new to this thread. Can some one tell me what the difference is between an Overdraft and being Over drawn means.

 

Overdrawn = paying out or withdrawing money without have funds to meet the obligation, i.e. no formal or informal agreement to do this.

 

An overdraft is a formal or informal agreement between you and the bank that you can overdraw the account within specified limits.

[bushell]

Thank you for the prompt reply to my question Brigadier2JCS , most helpful.