Limitation Period Query - default date or last activity?

[Pancho7]

I'm currently trying to assess whether a debt is statute barred or not.

 

It is in relation to a current account overdraft where my last activity was in May 2009. The amount overdrawn was £3,000 at this point.

 

The bank defaulted the account in August 2010. This is what is shown on my credit file.

 

Between my last activity and the bank default date a number of interest charges were added by the bank.

 

The amount at date of default was just under £4,000.

 

Can someone indicate when the statute barred clock starts ticking, is it from my last activity in May 2009 or from the default date?

 

Many thanks in advance.

[Peterbard]

Overdrafts come under section 6 of the SOL 1980. The clock starts to run from the first demand for repayment of the full balance is sent to the debtor.

[Pancho7]

Thanks for the quick reply Dodgeball.

 

I will have to look through the paperwork I have in order to identify any earlier demands prior to the default notice being issued.

[Pancho7]

Out of interest, if I can find a letter asking for full repayment of debt and this letter is over 6 years old.

 

Can I apply to the credit file agencies to have this removed? (They are obviously using the default date as they're starting point.)

[Andyorch]

Thread moved to the appropriate forum.

 

Regards

 

Andy

[Peterbard]

Out of interest, if I can find a letter asking for full repayment of debt and this letter is over 6 years old.

 

Can I apply to the credit file agencies to have this removed? (They are obviously using the default date as they're starting point.)

 

It depends on the amount of difference, there are guidelines issued by the ICO which state that a default should be recorded no later than six moths after it has occurred.

[Pancho7]

Thanks Andy and Dodgeball - I will look further into this.

 

Your help is very much appreciated Dodgeball.