Hi,

I have read through a number of posts but only managed to confuse myself more, so thought i'd better just post.

I have an old HSBC Current Account that I think was sold on in around 2000/2001 (memory a little hazy) to a DCA (but I cannot remember which one) and I paid them £1 a month.

Around 2013 Cabot bought the debt and I continued to pay £1 a month.

This was a joint account which they refused to acknowledge,

said it was only in my name and they had no record of my partner on the debt - great!

So fast forward to today.

I stopped paying them in July this year,

completely forgot as was paying by postal order

- my own fault, and have since received the following letters:

05/10/2017

"Welcome to Cabot Credit Management Group that own your HSBC Bank Current Account. We have recently confirmed you are living at the above address and need to make you aware that we are now responsible for helping you manage your account and receiving future payments" Then a bit about contacting them etc.

22/10/2017

"We have recently confirmed that you are living at the above address. We do this through a variety of checks, so we're confident we have the correct address for you. We need to talk to you to arrange a repayment plan on your account; we can help you find an affordable solution.

06/11/2017

A bit about understanding how it's difficult to clear debt, we want to help etc then "We own your account and are prepared to reduce the balance in order to help you become free of this debt sooner. If you would like to take up this offer call us"

I have a couple of questions:

I have looked at other forum messages advising sending a CCA but I don't think this would apply to me as its a current account - is that correct?

What would be the route for me to follow if I can't go down the CCA road?

I've seen some info on pre 2007 agreements - does this have any bearing on my case?

Can Cabot put the debt back on my credit file as a default, as i've stopped paying, even though its over 6 years old?

I'm sorry for the long post and thank you very much for reading

Welcome To CAG

Yes, Current Accounts dont have a CCA and no they shouldnt put the default back on your CRA if after 6 years it has fallen off.

Cabot doesnt chase legit debts. They sent you phishing letters suggesting they have confirmed you live there, but thats it. Go SAR the bank and get the full info on the account and find out why they sold the debt to cabot.

It may well be a joint current account...but a creditor can pursue either of the parties under joint and several terms of the facility...so Carboot not acknowledging its a joint debt is irrelevant.

Where parties act together in agreement as partners, they have joint and several liability. In addition to all the partners being responsible together, each partner is also liable individually for the entire agreement. This means a creditor could recover an entire debt from any partner individually, leaving that person to recover their shares from the rest of the partners.

I personally would just resume the £1 per month payment possibly until its passed on again.

Andy

Thank-you for the responses

I have just been fighting through my understairs 'cave' to see if I could find any old paperwork and have come across something more of a timeline - seems the debt is mostly made up from a loan and not overdraft fees at all - this is what i've found:

22/11/2001 - Letter from Robinson Way on behalf of First Direct chasing original amount of £4899.03

20/02/2002 - Letter from DMA (not sure who they are) with a payment agreement of £20 a month. On that letter i've written loan - £3214.59 & C/A (presumably current account) £1331.57

I've also received letters from Cap Quest, HL Legal, Central Debt Enforcement Agency and Keppe and Partners - all pre-dating 2007

Typically I can't find all the original Cabot letters but the most recent one states the debt is at £3855.

As it was First Direct should I SAR them or HSBC? Also does the fact Cabot are not mentioning that they are chasing a loan and a current account, but lumped it all into 'a current account', make any difference?

ALWAYS always SAR the OC, the fact that Cabrot have lumped the two amounts together, simply means they've not a cats chance in hell of ever getting that enforced in court, because it's two separate agreements, with two completely separate T&C's, including interest rates, penalty fees yadda yadda yadda.

You can of course CCA them for the Loan, but as they have lumped two separate accounts together, they're never going to find it, IMHO I'd not pay them a penny.

So they merged everything into one. Tut tut. Not allowed to do that. No wonder it was sold on.

Oh wow thanks guys - won't lie, just nearly shed a tear of joy at their wrongdoing!! This is the final millstone (all other debtors accepted a settlement figure in 2002) that came from a nasty relationship and I would be overjoyed to not have to worry about it any more.

I'll send the SAR off to First Direct then, so i've got all the info I need, and just ignore Cabot for now.

Thanks again for your help

first direct are HSBC

HSBC had a nasty habit of doing something called a managed loan.

they lumped everything together

turned it into a loan

then dump it back into the current account as a massive OD which you never asked for nor agreed to.

then they sell it on the DCA fleecers.

if you use our search cag box of the red top toolbar

hsbc managed loan

they've never won a case where we've helped defend it in court

if they are stupid enough to issue one.

have YOU written to cabot or any DCA since you've been at your current address?

if not you are in danger of a backdoor CCJ being served to an old address

no don't pay them IMHO

Blinkin heck - swines aren't they!

No I haven't had any communication with them since 2013 - apart from an email they sent me in February this year, asking me to set up a payment plan, after I changed from paying standing order to postal order. I think I logged into my online account - stupidly! I had a payment plan set up as per their 2013 letter so I just ignored the email.

Oh no, a backdoor CCJ worries me - i've worked so hard to restore my credit file and want to buy a house next year so this is a bit of a concern. Would they not have to give reference to a CCJ in the 3 letters they have recently sent to this address?

You wont get a CCJ if you follow the advice here. Theyre trying to con you. You nee to get a strong head, and take control.

I'll defo follow the advice - it's much appreciated

Is there any way I can check if a CCJ has been applied for?

and shall I just go ahead and ignore them whilst sending off the SAR?

Yes you can check Trust online, to see if they've got a CCJ against you, costs, £8 I think (?)

CHeck your credit file also, and see what's on there if anything.

Will do, will that also show if ones been applied for but not yet issued?

nope. Only CCJs that have been granted. Meaning it went to court, a order was granted against you and you failed to pay within 28 days after judgement.

Your debt has done the rounds of various DCA's so its obvious its well and truely unenforceable. Theyre passing it around ans saying to each other.. here, have a go at this one. Theyre gullible and pays up no questions asked.

Not sure, been a while since I used it, so the fee might even be cheaper!

in some way form or manner

you need to write to cabot so they have your correct address.

what balance are they chasing?

sorry you say that above

so I bet you never were granted a £4k overdraft were you on your bank account by first direct?

Yes they have the correct address now, since the beginning of October. I've no idea where they got it from - possibly one of the free credit checking sites?

No, I definitely didn't have an overdraft that big - feel a bit dim that I hadn't realised all this before

if they significantly changed your o/d after feb 2011, then the new o/d regs may apply. ie they wld need to have furnished the terms of it. difficult if it was an 'amalgamation'.

a side issue atm to poss consider should things go all the way.

They closed my account back in 2001 when they sold it on. I've not been with them since then.

ok. i saw re 2013.

forget that then.

Sorry, yeah that's when I think Cabot got it.

Yes they have the correct address now, since the beginning of October. I've no idea where they got it from - possibly one of the free credit checking sites?

 

No, I definitely didn't have an overdraft that big - feel a bit dim that I hadn't realised all this before

you still need to write to cabot

you have nottold them nor the original creditor of your present address

these are phishing letter

they typically offer discounts

then when you don't respond

they issue a claimform using an old address.

Ah right ok, what should I put in my letter to them?