Some years ago, Cabot acquired five credit card debts I had with BOS/Halifax/IF/Barclays/Lloyds.

This amounted to a substantial sum and was the result of 'getting my fingers burnt' in property development.

There is no entry in my Credit report for any of these amounts, or from Cabot.

For the past several years I have been paying an agreed £1/month on each account to Cabot, no payments missed or late.

They seem quite happy with this and don't bother me.

This amounts to the princely sum of £60 / year in reduction of the substantial debt, less whatever they spend on administration/letters etc.

I am almost seventy and have negotiated substantial debt write-offs with NatWest, Capital One and Tesco directly.

Cabot would not write their debts off.

With my sisters help I have tried to negotiate a settlement of £2000, (ok the total debt is around £40,000), but they keep saying no.

I have pointed out to them that if I live to 80 they will only get £600 and to 90 they will get £1200...

..and I will have no assets to leave,

but they are adament I keep paying £1/month each account.

I could simply keep paying this and let it die with me, but I want a 'clean sheet'.

I have requested a SAR within 40 days.

1) Assuming they respond in the timescale but do not send any signed novation agreement or original /certified copies of the original agreements bearing my signature, can they actuallly DO anything if I stop payment?

2) I am selling the modest house I have in the UK (no equity) and going to live with family in France. If I just leave the UK and don't give any French adress what would/could they do?

3) If I did either of 1 or 2 can they retrospectively place entries on my credit report?

thanks

" signed novation agreement "

Whats one of them ?

Andy

You need to send a CCA request for each debt

Me thinks you are being cash cowed

Novation - see https://en.wikipedia.org/wiki/Novation

I am advised by StepChange that one request will cover all accounts - that has also been confirmed by Cabot. Why do you think I am being 'cash cowed' - please explain comment.

send the CCA1974 request and see if they are enforceable or not - if not you are being cash cowed and not told you owe but not need to pay

Yes...but I am trying to find out from my origianl post WHY they might not be enforceable.

Novation - see https://en.wikipedia.org/wiki/Novation

 

I am advised by StepChange that one request will cover all accounts - that has also been confirmed by Cabot. Why do you think I am being 'cash cowed' - please explain comment.

Novation is not applicable to agreements covered by the CCA1974...its called an Assignment

well...if they have no asssignment proof nor original signed CC agrement nor Novation ...still trying to get answers to my original post.....

firstly

its a Subject Access Request..dunno where Search came from?

2. under an sar, which to a dca is pretty much pointless, they are not obliged to send any of your agreements or whatever you asked for like the novation or the deeds.

[be careful upon what site you are following - some of these debt websites boarder on the ridiculous freeman of the land twaddle and give very dangerous and in the end costly advise]

3.your debts are very old, they all would have defaulted years ago, as such they are removed on the defaults 6th birthday, never to return [unless you let them WIN if they issue a CCJ claimform]

4. I admire your wish to clear your sheet before you pop your clogs,

but in all reality,

if these debts have been sold to debt buyers,

then have you ever wondered why??

why didn't these big multi national companies crush me in court?

why did they sell my debt off for peanuts [

probably because the debts are made up of a substantial amount of unlawful charges and or PPI and or any other insrances etc that can all be reclaimed

or that they don't hold enforceable paperwork as the account is so old, so they sell it on.

shame you didn't think about these things? before you blindly paid off you other debts already

could have saved you £1000's already...

if whomever you are currently paying cant produce enforceable signed agreements [as i'll guess every card was prior to apr 2007)

one might question why, legally you are paying them at all.

its an easier and cheaper way to clear your debts prior to death

that way your estate or assets are safe from future claims

these full and final pay offs you've made

I do hope that you have kept copies of all the signed letters from the various creditors

that say the debt is now dead and that they wont sell the remainder on to debt buyers ?

for whomever will admin your estate on that sad day

because if you haven't got those signed letters.

and they are not water tight upon sale of the partial settlement.

it could comeback and bite them after your death.

cash cowing means blindly paying debts off or blindly partially settling a debt without first checking that they are all legally enforceable first.

[stuff the morality card]

or that you are not blindly still paying a debt to a DCA that they have no legal right to even demand money upon.

hence a CCA request for EACH debt.

Thank you for the reply. I did NOT pay off the other debts - they saw the hopelessness and wrote them all off.....and yes all letter confirmations are held safely and are watertight.

The debts that were sold to Cabot did NOT have unlawful charges and did NOt have any PPI.

SAR was advised by Step Change (who only advise, not manage).

It is a step to go through. I do not expext to see any assignment (apart from original letters from CC companies staing they had passed it to Cabot) or Novation.

What I DO NOT think they will produce is the original or certified true copy of the agrement that was held by the CC company...way back before 2007.

This is what I am trying to get answer to in my original posting. If I simply stop payments when no agreements are produced what CAN they do??

1) Assuming they respond in the timescale but do not send any signed novation agreement or original /certified copies of the original agreements bearing my signature, can they actuallly DO anything if I stop payment?

2) I am selling the modest house I have in the UK (no equity) and going to live with family in France. If I just leave the UK and don't give any French adress what would/could they do?

3) If I did either of 1 or 2 can they retrospectively place entries on my credit report?

1). Issue court claim against you if they think it is worth it. They sometimes do this, even if they can't get hold of CCA, in the hope of gaining default judgement as you did not defend.

2) issue court claim to last known UK address and win judgement by default, as you did not know about it. Not really wise to move without giving new correspondence address. If you gave a French address, i doubt you would be subject to enforcement in France if you had no means to pay. They would have to think it was worth paying French lawyers and issue proceeding in your nearest French court. Very unlikely to bother.

3) original creditor (OC) should have placed default, it stays on for 6 years and can be updated by any debt buyer. If the OC did not apply default in error, a debt buyer can add the default, but it must relate to original default date. If you have only ever paid token payments, the accounts were in default because you were not making the actual minimum payments required under contract.

Thank you for that.

3) the OC DID place defaults on Credit file but have dropped off after 6 years. Can you clarify if Cabot CAN or CANNOT add default if I stopped paying?

Thank you for that.

3) the OC DID place defaults on Credit file but have dropped off after 6 years. Can you clarify if Cabot CAN or CANNOT add default if I stopped paying?

No they can't.

Once 6 years has gone by and you were just making token payments, these payments are nothing to do with orginal default.

Thanks - I think I have a clearer idea now.

HAve received a reply from CABOT stating they are unlikely to be able to provide CC agreements within the 12 days period, but have written to original companies and would hope to do so within 40 days......

One interesting part of the response was that regarding my Bank of Scotland CC they are unlikELy to provide this so will no longer pursue collection of that account...

(although stating that it should not be considered written off as the debt legally remains).

Hope they cannot unearth the other original agreements (from around 2000-2005/6)

std response from cabot.

so cash cow accounts already being removed from the milking parlour..good job

std response from cabot.

 

 

so cash cow accounts already being removed from the milking parlour..good job

Response from Cabot enclosing one of the CC Agreements. This is signed and dated by me....but not signed and dated by Halifax. Is this still a legal Agreement??

Yes.......but the agreement may not be until we see it.

How do I show this.....? It has personal information on it....address/income at the time etc.

redact it - take a copy and blank out personal details, numbers down load on here

follow the upload

to ONE multipage PDF please

Please see attached redacted Cabot.Intelligent Finance agreement...(what a palaver to upload a file!!!...why not an option on this toolbar>???)....looks ok to me....

Cabot_IF_redacted.pdf

If you could upload page 3 again as its chopped off on the margin (left) we cant see the numbers.(if any)

urm..you need to remove your pers details

unapproved too.

follow the upload