status barred 5 years ? reclaiming charges

[davidoneman]

hi

I have got afew accounts which have had charges on ,

 

i have not made any payments to these accounts for just over 5 years now so i believe these are status barred

 

if i goto reclaim the charges does that reset the status barred time again ,

 

also if a company has not got a signed credit agreement

 

can they put a default on credit file .

 

many thanks for the help

[ims21]

Statute Barred in England and Wales is 6 years from the Cause of Action.

 

Even if an account is SB, if the account is still with the original creditor then they will use their right of set off to put any refund against the balance due. If there is any excess then it will come to you.

 

If the account has been sold then any amount that you are awarded (if successful) should come to you.

 

I would suggest that a charges reclaim will reset the clock, yes but only if it is not SB yet. If it is SB then nothing can reset the clock.

 

As regards your question about defaults, yes they can.

[davidoneman]

so it would be best to wait until 6 years then go for the charges cheers

[ims21]

Even after the SB date, if the account is still owned by the original creditor then they can offset any refund against the amount owed to them.

 

In that scenario it will only be worth it if the amount of charges and associated interest being claimed back exceeds the amount which is due to them.