Hi

I had a current account with Lloyds, opened 2002.

I stopped servicing this account in 2015, with an overdraft of £1,900.

The account was assigned to Cabot 9 months ago.

When I was notified of this assignment I wrote to Cabot to verify that they had the rights of the account and were in a position to request payment.

I requested from Cabot copies of the original agreement I would have signed when it was set up, the terms and conditions, a full statement of the account, the notice of assignment and the default notice.

After a long wait they have written back stating:

"we contacted Lloyds for further information.

Unfortunately, they have been unable to provide a copy of the agreement as when your account was opened, they were not obligated to retain this information"

they include a few statements from 2014 to present

there was no default notice

they included a copy of the assignment notice

Without the original agreement and terms how am I able to proceed

, I would like to determine the charges applied etc and understand the terms

Can I request the statements from day one of the account, or should I SAR Lloyds?

I don't recall receiving a default notice, so I would like to see a copy of this too.

What is the best form of reply here?

Cabot end their letter:

"I believe the evidence provided verifies the outstanding balance. "

does it?

Thanks

If they haven't supplied a Default notice etc then i think that this will derail any claim.

As its an overdraft debt - They dont have to supply a CCA because there isnt one as such... However I have a better idea - Can you PDF everything and upload it?

Remove all personal info / bar-codes etc.

Will upload when back from work.

I had researched regarding CCA for overdrafts etc and think I'm there with them not being covered.

What I am looking for though are the terms and conditions I signed to originally for 2 main reasons.

Firstly I want to determine any unfair charges,

what the rate of interest was etc and

secondly If I was issued a default notice,

what terms did I default on?

It must state somewhere a reference to why they are defaulting the account against the original terms - or does it?

Also the lack of statements annoyed me, as I am unable to look into where all the charges arose.

Completely right, Just a statement doesnt prove a lot.

The T&Cs form a legally binding contract for services and they should have a copy of those...

Otherwise good luck to them trying to enforce this... But before you get too hopeful - Let the other guys come in and offer their advice.

Once a current account/ overdraft is terminated and recalled...the creditor must serve a demand/termination Notice (Notice served under Sections 76(1) and 98(1) of the CCA1974)

Also take a look at ....

http://www.legislation.gov.uk/ukpga/1974/39/section/61B

and

http://www.legislation.gov.uk/ukpga/1974/39/section/127/enacted

Is it showing on your credit reference files as defaulted?

Regards

Andy

Thanks for the replies

Yes, the account is shown as defaulted 09/2015.

opened 01/2000

Assigned to cabot 04/2017

Thanks for the links, will take a good look at these

Did you ever sign anything?

You indicate you might have?

Yes SAR lloyds

Hi.

I cant remember if I did sign anything, not being evasive! just really cant recall

I will SAR Lloyds to determine what is available on this account

Do I need to inform Cabot I am doing this, as I know it takes 40 days. They currently have put my account on hold for 21 days, I'd prefer to keep the days going as long as possible!

Thanks

On hold from what ? ...ignore Carboot from here on.

Andy

Good point!

I will send the SAR request to Lloyds tomorrow morning and wait...

Ideally you shouldn't have wrote or contacted them at all...gives them delusions of grandeur and you believing that they are actually a creditor....still whats done is done now and given that you have asked all the pertinent questions...puts them on notice that you actually know more about this process then they do and that they wont be steamrollering you.

Andy