gprit
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Everything posted by gprit
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So...do you think it would be in order to stop the agreed nominal payment each month and see what tey say/do?
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As I said...Cabot confirmed that the original p3 uploaded was the ONLY one they had with my signature on it.
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ok.....Cabot sent T&C again, BUT, although my printed name and address was at the top, it was NOT the signed agreement/document they previously sent and which I previously uploaded. I called them....they confirmed that they ONLY had the original version (ie with the LH side of p3 mssing) (also not signed by Halifax) of the CC agreement. They claim the one they sent me meets CCA requirements. This is attached - my signature is not on this. I confirmed that our conversation had been recorded. Cabot_IF.Terms_redacted.pdf
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ok..I will contact Cabot and see what they say....
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Appreciate the difficulty......can you manage or do I ask for a non-truncated copy, if they have one. What happens if they don't? Is it critical?
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morning - page 3 is as received from Cabot.....are the missing numbers important enough to request them to resend?? (suspect they will only have the same version)
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Please see attached redacted Cabot.Intelligent Finance agreement...(what a palaver to upload a file!!!...why not an option on this toolbar>???)....looks ok to me.... Cabot_IF_redacted.pdf
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How do I show this.....? It has personal information on it....address/income at the time etc.
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Response from Cabot enclosing one of the CC Agreements. This is signed and dated by me....but not signed and dated by Halifax. Is this still a legal Agreement??
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HAve received a reply from CABOT stating they are unlikely to be able to provide CC agreements within the 12 days period, but have written to original companies and would hope to do so within 40 days...... One interesting part of the response was that regarding my Bank of Scotland CC they are unlikELy to provide this so will no longer pursue collection of that account... (although stating that it should not be considered written off as the debt legally remains). Hope they cannot unearth the other original agreements (from around 2000-2005/6)
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Thanks - I think I have a clearer idea now.
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Thank you for that. 3) the OC DID place defaults on Credit file but have dropped off after 6 years. Can you clarify if Cabot CAN or CANNOT add default if I stopped paying?
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Thank you for the reply. I did NOT pay off the other debts - they saw the hopelessness and wrote them all off.....and yes all letter confirmations are held safely and are watertight. The debts that were sold to Cabot did NOT have unlawful charges and did NOt have any PPI. SAR was advised by Step Change (who only advise, not manage). It is a step to go through. I do not expext to see any assignment (apart from original letters from CC companies staing they had passed it to Cabot) or Novation. What I DO NOT think they will produce is the original or certified true copy of the agrement that was held by the CC company...way back before 2007. This is what I am trying to get answer to in my original posting. If I simply stop payments when no agreements are produced what CAN they do?? 1) Assuming they respond in the timescale but do not send any signed novation agreement or original /certified copies of the original agreements bearing my signature, can they actuallly DO anything if I stop payment? 2) I am selling the modest house I have in the UK (no equity) and going to live with family in France. If I just leave the UK and don't give any French adress what would/could they do? 3) If I did either of 1 or 2 can they retrospectively place entries on my credit report?
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well...if they have no asssignment proof nor original signed CC agrement nor Novation ...still trying to get answers to my original post.....
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Yes...but I am trying to find out from my origianl post WHY they might not be enforceable.
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Novation - see https://en.wikipedia.org/wiki/Novation I am advised by StepChange that one request will cover all accounts - that has also been confirmed by Cabot. Why do you think I am being 'cash cowed' - please explain comment.
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Some years ago, Cabot acquired five credit card debts I had with BOS/Halifax/IF/Barclays/Lloyds. This amounted to a substantial sum and was the result of 'getting my fingers burnt' in property development. There is no entry in my Credit report for any of these amounts, or from Cabot. For the past several years I have been paying an agreed £1/month on each account to Cabot, no payments missed or late. They seem quite happy with this and don't bother me. This amounts to the princely sum of £60 / year in reduction of the substantial debt, less whatever they spend on administration/letters etc. I am almost seventy and have negotiated substantial debt write-offs with NatWest, Capital One and Tesco directly. Cabot would not write their debts off. With my sisters help I have tried to negotiate a settlement of £2000, (ok the total debt is around £40,000), but they keep saying no. I have pointed out to them that if I live to 80 they will only get £600 and to 90 they will get £1200... ..and I will have no assets to leave, but they are adament I keep paying £1/month each account. I could simply keep paying this and let it die with me, but I want a 'clean sheet'. I have requested a SAR within 40 days. 1) Assuming they respond in the timescale but do not send any signed novation agreement or original /certified copies of the original agreements bearing my signature, can they actuallly DO anything if I stop payment? 2) I am selling the modest house I have in the UK (no equity) and going to live with family in France. If I just leave the UK and don't give any French adress what would/could they do? 3) If I did either of 1 or 2 can they retrospectively place entries on my credit report? thanks
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Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
Thanks all...as I said I am gathering opinions/soundings....and yes payments are still being made. ok, having sounded opinions etc I can pay JP Morgan £50,000 cash now (which depletes almost all my savings). If a request is made to extend for say 6 months to repay the remaining £18,000 would that be deemed unfair to request that of the lender, or, seeing they have ignored every principle of the FCA Guidelines, would they still be likely to apply and be granted repossession after 18 March? -
Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
There was never any life insurance requested/attached to the original mortgage with Platform (who sold it to J P Morgan) I would add re unfairness....J P Morgan have steadfastly refused to put the loan (as beneficiary) into my name, without which the Land registry would also not put in my name...so it remains as Executor of..... Because of this, without exception, it has been impossible to remortgage. -
Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
Look...I am sounding /goading/exhausting opinions here........I would really to know the legal situation....eg If I appeal to the Ombudsman does that delay matters until I can find an alternative solution. Not sure what happened to 3....or why it spaced as it did... -
Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
Well of curse. ..if they had transferred the loan to my name... .instead of claiming it would be 'new lending' so I could change the name at the Land Registry MAYBE I could have got a loan elsewhere. They would not entertain as I did not 'own' the property in J P Morgan's eyes. My legal opinion confirm that: 1 As the mortgage was taken out to live together, it was relied upon to be a place to live – the family home. 2 That Mr P has an equitable interest in the property, notwithstanding that his name is not on the mortgage or deeds, especially since ALL payments have been made from Mr. P’s personal bank account. 3 There is constructive/implied trust in accordance with LPA s53c. 4 The comment from J P Morgan that it was classed as ‘new lending’ was patently not true, and was merely procedural. -
Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
yes - property market is very depressed there......three agents agree reasonable price. They have made NO effort to offer alternatives, eg extending the time period...converting to repayment etc. I ask again...presumably whilst Ombudsman appeal is going on they cannot take further action......? -
Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
mmmm...I dont think they ARE treating me fairly........sounds like a case for the OMBUDSMAN.......presumably whilst that it going on they cannot take further action......? -
Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
....but should they not abide by the FCA guidelines and NOT SEEK a possession order? -
Death of spouse who owns house/mortgage
gprit replied to gprit's topic in Mortgages and Secured Loans
Looking further...The Financial Conduct Authority Finalised Guidance 29 August 2013 states in Principle 6: Considerations regarding mortgage contracts 6.1 In general, where a mortgage has reached maturity without the capital being repaid, the Terms and Conditions (T&Cs) of the mortgage will continue until the loan is repaid. That means the borrower will still be a customer of the firm and must be treated fairly under Principle 6. Most contracts are likely to require monthly payments to be made until the loan is repaid. 6.2 Mortgage contract parties may agree a strategy for repayment of the debt and that may lead to an agreed change in the original terms and conditions. When firms implement facilities at maturity, such as a term extension, this may restrict a firm’s right to foreclose unless a further breach of contract occurs. Where there is a change in the terms and conditions at maturity, we expect the new arrangements to be documented appropriately. 6.3 A failure by the party not in breach to act at maturity, could, in some circumstances, limit the way that party is able to behave thereafter. Surely 6.1 means that they cannot force a repossession and must wait until the mortgage IS repaid (with continuing monthly payments)?
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