Hi all,

Can someone please advise me as to whether the attached agreement from 2006 is enforceable?

Ts & Cs are on the back of this page.

I have £3000 outstanding on the loan and a temporary arrangement with Northern Rock. They seem to be understanding about my financial position, but I need to know if they could take me to court at some stage.

Also I will be challenging the PPI as I am self employed and would never be able to claim.

Any advice would be gratefully received.

Many thanks, Rocky

Nr loan agreement 2006.pdf

AFAIK and IMO it looks like it is bona fide, one of the better CCA's I have seen, good to hear that they have been understanding, so far. I take it you signed this on their premises?

Dunno about enforceability but there are no cancellations rights.

Dunno about enforceability but there are no cancellations rights.

Which is why the question was posed about signing the agreement on their property.

Hi,

This was signed at home and posted back to them. A separate q and a sheet included "can I cancel my loan - yes within 30 days and no interest will be charged.

Rocky

So they did send you the cancellation rights?

I gave them the information over the phone and they posted the agreement for me to sign and return.

They included a letter of instruction with no cancellation rights,

summary of application details,

keyfacts about the insurance (no cancellation rights)

loan protect policy summary (death, sickness and accident cover, so I suppose it is valid),

no cancellation rights

, and a questions and answer sheet with the "Can I cancel my loan?

Yes - you have up to 30 days following completion to cancel your loan and or loan protect insurance without incurring any interest".

They also sent a welcome letter offering up to £25k loan and would pay me £25 if I get a friend to take out a loan with them. (Which I did not do!)

Rocky

Hi all,

I'm am pleased to say that I am still in one piece, thanks to CAG. A lot of my loans are past the 6 years deadline now. Except NR as below.

I have been paying NR £1 per month.

They have been returning it to my account recently,

I let the SO continue

. I now have letters from Cabot, who have bought the debt,

threatening legal action.

They have sent a statement showing three payments September 2016, October 2016, April 2017. (Payments were made every month).

It is a notice of sums in arrears and says that it

"is given in accordance with the Consumer Credit Act 1974 because you are behind with the sums payable under the above agreement."

A separate letter sent on the same day, to ring them and mentions offering to "discuss a discount if you have some funds that do not cover the full amount."

The current creditor is listed as Marlin Capital Europe Limited.

I was thinking of sending Cabot a CCA request?

I would be most grateful for any advice on my next step please.

Many thanks,

Good evening RR, long time no see....

Did you reclaim the PPI off this loan??

IMHO no harm in sending these chancers a CCA request, how long have they bee disturbing your peace?

Does this still show on your credit file?

Hi Bazooka, thanks for replying so quickly,

Sorry to admit it but I couldn't cope with a PPi claim at the time, I'm feeling a bit old! I will have another look at it, but I don't think I paid many instalments before my troubles began.

Cabot wrote to me in September, I've been ignoring their letters since April as I was still paying NR directly. I've cancelled the SO now.

I got into a muddle with credit reference agencies as well.

I did a trial with Equifax (what a palaver) and managed to cancel it eventually, but I couldn't really understand it all. It didn't really make sense.

A lot of my debt is over six years old and has gone now (except AIC with an unenforceable debt that they have started chasing me for again recently. I think they are hoping I'm dead and the executor will pay it (no chance, no assets anyway.) So it might be worth checking my CR. I don't want credit, except that I managed to get a small CC that I am paying off at the end of each month which should help my reference.

I'll send a CCA request and see what they do. Is the standard letter still applicable or have things changed?

Cheers,

Get an sar dunning to NR get all the statements!!

Get reclaiming all the unlawful arrears fees etc

Hi All,

Good news, Cabot have written to me as follows:

"Thank you for your request for information under the Consumer Credit Act 1974. Unfortunately, it appears that NR are unlikely to be able to provide the requested documentation.

Therefore, I can confirm that Cabot Fin EU Ltd have taken the decision to no longer pursue collection of the account.

Please note that this decision is not to be confused or interpreted as a write-off of the outstanding balance on your account as the debt legally remains.

In addition I can confirm due to the time elapsed this entry should no longer appear on your credit file and we will be returning your £1.00 fee."

Good news that Cabot are dropping it, but the wording suggests to me that they will pass it, on or perhaps wait for me to die (not just yet) and try and claim it then.

Might be a good time to check my credit reference file.

Thanks for all your help,

Well you have it in writing that they will no longer purse you for this.

Keep that letter and copies of it safe, if they do indeed flog it on, then you can lodge a formal complaint about them and the clowns they flogged it onto.