is there a time limit when a bank will write off money owed to them? i'm only talking £2000?
963061
This is one of those urban myths, where everyone believes that if they do not repay money back to their bank after so many years it is written off. This may well be true, but I have yet to meet anyone that has actually experienced it - everyone you speak to always knows of someone who knows someone else, but you never meet the actual person.\nHowever, bear this in mind, although at one stage if you borrowed money off a bank and left the country they may have lost track of you, but considering that these days most of the banks are HUGE multinational businesses you may think that you have left your debt behind, but when you try to open an account in the back of beyond they find you again.\nComputers and worldwide communications probably stop this happening now.\nBe careful.
754068
usually catalogues give you a 52 week account. So it would work out around £50 a month to clear it!
140863
there are some pretty specific rules on this. as i recall if you did not acknowledge the debt at any point along the way then they are out of luck.\n\ndouble check the info however.\n\nsee this page http://www.bankrate.com/brm/news/cc/20040116b1.asp
908014
If the payment you sent was a cheque or money order or postal order, then it would have taken a couple of days to clear out of your bank account and then a few more days to show on the finance company's account. This is not the finance company's fault and, unfortunately, you are responsible for any charges this incurred.
827771
"if it was made out to you", maybe, most checks etc, usually have a limitation/expiry date/time.\nyou will have to inquire at your bank.\ngood luck.
230033
Don't forget to have your bank show you a SIGNED RELEASE FROM YOU authorizing the withdrawal.  If there is none on file, the BANK has to refund the money.
922220
Contacting eBay would do no good.  If the bill has been handed over to a debt collector, the account now belongs to the debt collector, not eBay.\n\nYou will need to deal directly with the bill collector at this point.\n\nI'm not sure how the bill went from £6 to £171 - that seems a little extravagant.\n\nWhatever you ultimately settle with the bill collector for payment, I would suggest having you son pay it entirely.  It will be a good lesson to him, and I'm sure he will be much more careful in his future financial dealings.  This could be the best thing that happens to him!  (Better a £171 mistake at 16, than a £10,000 mistake at 25!)\n\nGood luck!\n\n~ ♥ ~
284508
Sounds like a scam to me.  Go to your bank right away and tell them you are a victim of fraud.  They may be able to reverse it.
762730
You should check on a line of credit.  It costs about 1-2% of these amounts to extend credit depending upon the terms.  It is quite possible they were losing money on these because it costs them every time they write the paper.  Banks have very thin margins.  It takes a lot of money to just make a little.  A 10,000 loan not paid down and paid in 365 days on average yields 100-150 dollars total.  Every transaction costs money.  Each cleared check costs money.  Each contract costs money.  It is quite possible it isn't worth their time.
892533
I would try my own bank first and see if they have a lsmall loan prgram or credit card that I was applicable for.  The payment will depend on how much your interest rate is and how much time they will give you to pay it back, so if it is 2, 500 and your interest rate was 10% and you had 12 months to pay it back, how much woudl it be?  Figure it out that way, just an example.  also, find out if there is a grace period where if you pay it back within say 30 days thre will be no interest or if you can wait until 60 days later to make your first payment.  Hope this helps!  Good luck!
827769
You would be charged an over the limit fee every single month you were above 3K... I hope you can pay it off fast, otherwise you are going to pay alot of finance charges. I don't think they can "punish" you though... just charge you and maybe close your account to new purchases.
729576
No, but its not very sensible as you are continuing to mount up interest charges.  Contact them and see if you can come to some arrangement which will make it easier to pay.  \nDONT IGNORE IT ANY LONGER!!!!
775008
As far as I know, as soon as the payment is past due they can turn you in to collections.  Usually it takes a few months though before they do that, as they will have to give a cut of the monies collected to the collection firm.
885284
Go and see a solicitor, maybe a letter from them may scare him into paying up. Good luck :-)
964661
A default is usually when the account is transferred to a debt collection agency.  It would normally occur if you have 3 months in arrears. or 3 late payments in a row. 1 payment late wouldn't matter.
870028
I think this is disgusting behaviour from this bank and I would urge anyone that banks with these people to move their money immediately. Why the hell should anyone go into debt just in order to stay with a bank ?!\nOn top of this, surely it is obvious discrimination against those that do not have £1500 to deposit or keep within the bank !! It seems this bank thinks we are there to line the pockets of their share-holders by increasing personal debt, just when people are needing to tighten belts due to higher mortgage payments.\nShame on those greedy sods.\n\nThank you for you help, but all the same I will not be making this bank "look" as if they are keeping their customers happy.
71292
well, thats a good question. I would advise you to report it to your bank, and put a hold on your account.  Im sure they can get to the bottom of it. Hope this helps!