Having been fencing with Barclays for a few months over an alleged loan debt, they have now sent me a Termination Notice for my current account, which is £3000 overdrawn and not used by me any more. The wording of the notice suggests to me that they might have shot themselves in the foot... I'd appreciate any thoughts on this.....
"It is a term of your agreement with the Bank that the full amount outstanding on your account is repayable, with interest, on demand at any time. Pursuant to that term, the Bank hereby terminates your agreement
, including any overdraft or reserve facilities, with effect from 19/11/10 and makes demand for full payment."
.... so, firstly, I'd like to see that so-called agreement, cos I doubt they still have it after 12 years when the account was opened and I certainly haven't signed any further agreement when increasing the overdraft. But, what I like about their words is that they state that they have terminated the agreemen
t - which surely means that I am no longer liable under it, even if it was enforceable before. Any thoughts on this? Could it really be that easy? Can they make demand for payment on an agreement that they have just terminated? Yes it might well be a term of the agreement that they can demand repayment of the overdraft at any time, but if that agreement has been terminated then surely I can just tell them to piss off - "sorry, we no longer have an agreement, you terminated it... piss off!"