Hi

I had a credit card with TSB in 1983.

In 2006 because of an accident I could only pay £5 per month to the outstanding balance of app £10,000.

I still pay this £5 today by standing order to TSB.

I received a few letters from Cabot telling me they bought the debt from TSB,

but I ignored them and continued to pay my £5, that I had agreed with TSB to the TSB.

Today I get a letter from FIRE saying to make them a reasonable offer.

I checked noodle credit report as advised in the CAG forum and TSB are not listed on my credit file.

The debt says it is cabot that own it, but I have never dealt with Cabot.

I was wondering what to do next and any advice please.

Lol they agreed £5 so keep it at that!!!

Okay, have you ever been sent a statement of how much is owing?

They are legally obliged to provide you with this. on a minimum of a yearly basis. OOI... Did you continue to pay £5 to Lloyds or change it to Cabot?

If Lloyds have sold this debt, there could be something very very wrong!!!

I still pay £5 per month to TSB by standing order and have never acknowledged Cabot.

There is no mention of TSB on my credit file, only Cabot.

What do you mean if Lloyds have sold this debt then there could be something very wrong?

In other threads I have read to send a letter to find out if they have the original agreement, but who do I sent it to ?

In 1983 I was given a cheque guarantee card which also acted as a credit card by the TSB.

In 2006 after having an accident and a change to my life circumstances

I could only pay £5 per month to this card and have been doing this ever since by standing order.

The debt is approx £10000.

This past year I have been receiving letters from Cabot and just ignored them and continued to pay my £5 per month to the TSB.

Now I have received a letter from FIRE.

I have been looking about these forums and saw that you could look at noodle for details of your credit file.

I checked with noodle and there is no mention of TSB,

just the company Cabot with defaults on the approx debt of £10000.

I would appreciate some help what to do with TSB, Cabot and FIRE,

and advise on whether I should cancel my standing order to TSB.

Thanks

Hi pat5y, and welcome to CAG!

I am literally running out the door, but will be back later. In the meantime, others may come in and help too.

What does the letter from FIRE say?

I assume you have not so far asked for a copy of the original credit agreement?

Have TSB continued to add interest to this debt?

DD

Hi, This debt has been sold on to Cabot Financial a debt purchaser, Fire are its collections arm.

TSB now have no interest in this account.

What is the content of the letters from Cabot/Fire please.

Do not cancel payments yet.

Your next move is to make A CCA Request under Sections 77/78 of the Consumer Credit Act 1974 to get a copy of the agreement for this card.

There is a £1 statutory fee for this and Cabot have 12 + 2 Working Days to comply, there is a template in the CAG library for you to use.

The fee is best paid by using a £1 postal order marked clearly 'for statutory fee only'.

Get this done asap and come back when you get the result.

As far as I am aware obtaining any form of copy of the original agreement may be a problem in this case

as the agreement dates from 1983.

I believe Cabot are allowed to supply a copy of the current t&cs.,

if the agreement was executed before May 1985

and they are unable to supply a copy of the original.

Was there any PPI on your ac?

I hope you've been getting regular statements

and the debt has been going down

and interest was frozen too....

dx

If the debt was £10000 and has been sold then there is somethign very VERY wrong with it. No creditor would wipe that amount off. They would take you to court over it themselves.

If the debt was £10000 and has been sold then there is somethign very VERY wrong with it. No creditor would wipe that amount off. They would take you to court over it themselves.

A recon is not acceptable in this case.

If the debt is no longer being reported on your credit file it is because the default was placed more than 6 years ago.

Did you not receive a Notice of Assignment from either LTSB or Cabot advising the account had been assigned (sold) to them ?

Thank you all for taking the time to reply to my post.

Interest is no longer being added to this debt and I don't think their is any PPI.

The letter from fire says make us a reasonable offer by a certain date either one off payment or payment plan as a final attempt to resolve the matter and stop further action.

I have had no letter from TSB saying they have sold the debt on.

Does CCA mean credit card agreement?

Thanks for your help !

consumer credit agreement

which crapbot must have to demand money from you.

are you saying they have offered a discount?

dx

All they say is make us a reasonable offer.

Thanks

i'd send an sar to TSB and get all the statements

and fire an CCA request off to crapbot.

dx

All they say is make us a reasonable offer.

Thanks

So theyre offering a discount but have carefully worded it.

Cabot replied to me stating they do not hold the information I requested under the CCA1974. They will anticipate they will be able to provide the information within 40 days as they have requested the info from the original lender.

Tell them NO 12 +2 working days no more after which the account will be formally in dispute and no further correspondence will be entered into.

Thank you Brigadier2jcs

Letter was sent to them on the 11/11/13 and I received the above reply yesterday. Do I still tell them no 12+2 woring days no more after which the account will be formally in dispute and no further correspondence will be entered into? If answer is yes, why would I not enter into anymore correspondence with them?

Thank you Brigadier2jcs

 

Letter was sent to them on the 11/11/13 and I received the above reply yesterday. Do I still tell them no 12+2 woring days no more after which the account will be formally in dispute and no further correspondence will be entered into? If answer is yes, why would I not enter into anymore correspondence with them?

Yes you do tell them that. Also you won't enter your into any more correspondence with them as they have failed to provide the correct documents pursuant to this *supposed debt*

It's up to them to prove you owe it, not you to prove you don't.

Just to clarify... 40 days is only applicable to a SAR and if you haven't requested it then they can't use that as an excuse to delay getting the CCA

Thank you fkofilee

Correct 40 days for a SAR. It is unreasonable to state a 40+ delay for a CCA request provision is made for a short extension of the 12 +2 working days if they have to obtain the copy agreement from the original creditor but certainly not 40 days.

Cabot state in there letter

"Thank you for your request under the consumer credit act 1974. Cabot currently does not have this information on file. However we have requested the relevant information under section 77 and/or 78 of the consumer credit act 1974 from the original lender. We anticipate that we will be able to provide this information with in 40 days. In the event we are unlikely to obtain this information within those time limits we will write to you again."

They did not send back my postal order.

Also I am still paying the TSB £5 per month, as was agreed with the TSB years ago. This is done every month by standing order.

Will I know write to Cabot saying 40 days is unreasonable and will now not enter correspondence with them and will I still pay my £5 per month to TSB?

That is unacceptable!

Brigadier2jcs

Will I still continue to pay my £5 per month to TSB. Also what will I say to Cabot in my reply?