Six Year Rule

[Seminole]

I don't know if this point has been addressed here before and I would be interested if someone has a view.

 

If someone has been chased, perhaps taken to court and maybe paid a debt to a bank in the past 6 years where the debt was built up over a longer period and includes illegal bank charges, can the charges that arose more than 6 years ago be recovered?

 

In my case I had an account with Nat West from the early nineties which went really pearshaped in 2001. I incurred charges from about 1999 onwards when the bank cancelled the overdraft facility and converted it into a managed loan. I started to have problems straightaway with various charges being applied. If the charges are illegal does the six year rule actually apply?

[Russe11]

I think all sums owed that are not recovered with 6 years are unenforcable for recovery, please correct me if i'm wrong

[Seminole]

Apologies, I think I could have posed my question more clearly.

 

What I am thinking of is (as in my case) a bank that chose to close my account and sue me for the balance on my account which included illegal penalty charges some of whicht were applied against the account more than six years ago from today. Given that I was sued within the past six years and I paid the amount due, I would like to look back to the underlying transactions that caused the balance ie the illegal charges even though they arose a little over six years ago.

[Guest]

Theoretically, there is NO time limit - but in practice the bank only has to keep the last x years, which I think is 6, of records after which it isn't obliged to keep them and therefore can't provide them.

 

If you already HAVE them, though - I don't see any reason why you shouldn't press on regardless. The law may have been strengthened in 1999 but it still existed before then.

[Seminole]

This topic was closed on 03/05/19.

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