Company transferred credit from another account, does that restart clock?

[theoldgit]

I had two accounts with M&S, one credit card and one loan for a car.

 

I had allowed my ex to, unofficially, take over the car loan and she took the car.

She made the payments on the car on time and paid off the loan, leaving a credit of about £20.

 

Meantime I had a card account and I was really struggling,

faced with reduced income I was only able to make the bare minimum payment,

and whilst I wasn't paying any penalty charges I was treading water

due to the high interest charges and getting nowhere.

 

I made a conscious decision to stop paying, irresponsible yes,

but the temporary relief made me feel much better, and I was able to sleep better.

 

The card debt is, I believe, almost Statute Barred,

but they transferred the credit of £20 from the car loan to the card account,

and I believe this may have reset the clock meaning that all bets are off

and the card debt will not be SB for another couple of years.

 

I would welcome a view.

 

Thanks

[dpick]

If you did not authorise the transfer then in my opinion this would not count within the statute barred time frame. If it did they could transfer £1 every 6 years to keep resetting the clock.

 

 

dpick

[BRIGADIER2JCS]

If you did not authorise the transfer then in my opinion this would not count within the statute barred time frame. If it did they could transfer £1 every 6 years to keep resetting the clock.

 

 

dpick

 

 

Payment would have to have been made by the debtor or his authorised representative, you had no control over this transfer.

[theoldgit]

That was my thinking, thanks to you both.

[oleg]

I have seen this argument used successfully to plead S B in court cases - Capquest ex Lloyds and Marlin ex Yorkshire - notwithstanding set off clause in original credit agreement. In both cases the set off payment would have brought the court claim back within 6 years.

[theoldgit]

Hi Oleg

 

 

Does that mean you saw this argument used successfully as a defence?

 

 

Thanks

[oleg]

Yes but bear in mind that if the claimant opts to proceed, despite a S B defence, a judge may not necessarily share your view. It is therefore in your interest to line up alternative / additional arguments to reinforce your case, eg unfulfilled / unenforceable CCA, defective D N.

In order for peeps to offer advice specific to your case you should give a bullet point summary timeline of the credit card. Name names cos we learn the behaviours of the individual monsters of the credit industry - which is why I named the ones I did above - and can tailor advice accordingly.

Unless you have kept statements and the agreement, you may wish to consider SAR and CCA requests in order to get your ducks in a row. However, since legal action has not yet commenced, it is by no means mandatory at this stage: just be prepared, since the months prior to S B threshold are when creditors tend to go for the jugular.

[ericsbrother]

It is not an acknowledgement or payment by you so should not restart the clock. However, dont forget, the law on debt was invented to serve the interests of those who are the haves not the have nots so better to avoid court unless you are very rich or very poor.