General advice on SB debts

[notodebt]

Well I am surprised whoever owns it is still pursuing. My other creditors have long given up and written off the balances.A few after caving in just before court thanks to the advice on here. I even took Lowell to the cleaners and they were ordered by the judge to pay me for wasted time .This is the final one that is really outstanding . My credit file has gradually improved over the last couple of years.

 

Even at this late stage I would have paid them some ridiculous small sum as a F&F but I just don't trust them. As you can see by their emails , making things up to suit their agenda.

[Peterbard]

I am unsure if I have already written these points, but this thread is called general points , and unless the OP objects, here are some.

 

Firstly, there are two separate kinds of warning notice issued when a credit card or credit agreement is defaulted. One is for credit referencing the other is to enable the termination and enforcement of an agreement. These are completely separate entities, which may or may not apply to the same date.

 

The one sent to the debtor warning about the impending mention on the file, gives 28 days normally although it is an advisory notice and cannot be challenged, it does not have to be given for an entry to be made on the CRA.

 

The notice sent from the creditor giving notice to take action is however statutory, under section 87 of the Consumer Credit Act, it gives 14 days to pay.

 

A statute barr is a method of limiting the amount of time for the creditor to take an action in court. In contract law, this period is generally 6 years.

 

To be clear this is the maximum time allowed between, the cause of action(for simplicity the default).

and the date of the action itself in court. Therefor if you PDL has had an action was brought in six years, the statute Barr no longer have any relevance. 

 

If the case was lost it would be a debt under a judgement, not under a default, if it was won, there would be no default to record.

 

Again for clarity, you cannot use a default date on a credit file to sow a default notice date under the CCA 74, as said different things.

 

Regarding an overdraft. There is no requirement to comply to part 5 of the CCA on tacit overdrafts. This is because of a declaration made By the governor back in 1983, part 5 contains section 85.

 

As far as the start date for SB is concerned, section 6(not5)applies in that,  instead of a default notice the date on the first full demand to repayment is recorded and used as the cause of action, that is when the SB starts, again nothing to do wih the date on the CRA file.

[notodebt]

Hope everybody is staying safe!

Thought I would post an update on here considering it has been April since last entry.

 

Well the OD has disappeared off my credit file along with a couple of other items so it is recovering well now.

Since then I have had no correspondence relating to that ,

 

as for TM legal had the odd one or two emails but nothing like previously.

 

Obviously I can only imagine that DCA's have furloughed their staff which could be one reason for the lack of any correspondence.

 

Will see what happens going forward this year...

[AndyOrch]

[Peterbard]

Default notice, what default notice. You mean this.

?

 

Located another email, an actual Notice of default dated 13/5/2014 , this looks like the official one.

It has the line - To remedy the breach you must pay us a total of £935.68 before 27/05/2014.

 

This refers to the credit file, you know the one that's not been mentioned.

 

So the official default is 13th May which of course is fast approaching the 6 year mark this yea