Afternoon All,

I wonder if anyone could offer any advice with my partners issues he is having.

He had a credit card with Hsbc that defaulted over 6 1/2 years.

He continued to make a number of payments until he got into severe financial difficulty.

The default dropped off the CRA reports in February this year

He was then notified in June that Hsbc had sold the debt to Cabot

Cabot are demanding monies,

which we don't have,

saying if we do not pay then as they brought the debt they will take him to court, default him again and inform the CRA.

There have been a number of people telling him different things about what to do and who/how it can be enforced,

however after googling this forum seems to be the best place for common sense.

He is at such a low I really need to nip this in the bud if I can.

Thanks

Bee

Hi Beckieg and Welcome to CAG

Roughly when was the last payment made to HSBC ?

Consider sending Carboot a CCA request as your first priority ..puts them on notice that you know how to deal with this. (template in the Debt Collection Library)

Regards

Andy

Cabot are bottom feeders. They do not chase legit debts. They take debts others wont go near. Follow andys good advice above and youll get through this fine. And very likely without paying a single penny to them.

They certainly cant add the debt back to the credit file.

you say in your title this was a loan

but in your 1st post you say it was a credit card?

which is it?

or is this the usual debacle called a managed loan

whereby by HSBC dumped all his debts into a new loan

and said he had to pay that.

cabot are NOT BAILIFFS

but merely a powerless DCA

if you read the letter properly, you'll see it doesn't say WILL anything.

esp court action

Thank you all.

I'm sorry it is a credit card. In my haste to try and get advice I get a little bit stressed myself.

The last payment was about a year ago

Can they still notify CRA ? We have spent 2 years getting up to a level of 200+ and we are making some headroom

urm.. wonder why HSBC sold a debt onto debt buyer for pence = pounds discount?

something smells.

the debt has already been defaulted years ago by HSBC

that default has reached its 6th birthday and under reporting rules the whole account has been removed.

cabot CANNOT make it come back.

i'd be sending an sar to HSBC

get all the statements and findout how much the debt is made up of unlawful charges and PPI etc.

all are reclaimable

as advised

sent cabot a CCa request

Good Afternoon All,

I hope you all had a good xmas and new year.

I am just taking time to catch up with things and noted that I had not added that I sent Cabot a CCA request and they acknowledged this on 4th December.

It states they have asked HSBC for copies which will include details from the orginal lender,

however this is likely to be more than 12 days but less than 40 days.

Is this working days or calendar days ?

I have still not heard anything back and by my calculations even using the date I received their letter the 40 days would be up 13th Jan.

I posted my letter to them on the 25th November.

I know it is a long time after my initial enquiry but my other half at first wasnt happy to follow this up.

Best Wishes

Bex

They get 12+2 and they know it. But that wont stop them trying to misinform you. 12+2 is working days. which has long passed. Completely ignore anything now unless its a court claim or a compliant agreement. Cabot do NOT enforce legit debts, they dont have any paperwork and will never have unless you demand it, and even then 90% of the time they can never get it.

relax and enjoy the new year

Thank you for your quick response renegadeimp. Where do they get their 40 day limit from then ?

Do I need to write back and say they havent complied or anything?

Simply put? they make it up as many people in debt are none the wiser. Cabot will do anything to get money from people.

You dotn need to write anything. They know exactly what theyre doing. Just enjoy your life, and ignore them. If you start to worry or recieve a letter, feel free to come back if you want for more advice.

yep

dx