me vs cabot can anyone advise me

[sticky29]

anyone?

[rhos123]

hi, your details are still readable on the letter

[sticky29]

thnx 4 pointing that out to me rhos123 have removed the letter now. Cheers.

[BeauBrummie]

Hi Sticky29,

 

I took out a loan with the NCC just a few months after you did, my understanding at the time was that it was "an interest only top up loan" and therefore would be repayble at the end of the 300 months?.

 

My loan has taken the exact same route as yours except that in 2006 I was taken to court by cabot---sadly before I knew about CAG and I now have a Charging Order on my current property for more than 3 times the original loan---Given my circumstances with another account with Cabot I would dearly love to challenge this loan and subsequent court judgment.

 

Given that you still owe in excess of 6k I suspect that you will have been charged for the difference between the "Contractual Payment" on the original NCC loan and the actual payment you have been making all this time. The arrears then would then be derived from those payments with interest of course.

 

Beau

[sticky29]

Hi BeauBrummie

 

Yes you are spot on. Mine was for same terms but I had to have an endownment policy to pay of the original sum borrowed at the end of the 300 months.

we lost our property in 1998 but had an agreement to pay of this loan with interest being suspended and the account was to be reviewed every 12 months which it never was. The account changed hands to morley then to National home loans then to cabot under the same terms. going through all the crap that i have been sent in my SAR I can now clearly see that when cabot took over the account in 2003 they then backdated all the interest which had been frozen since 1998 and that is how they have come to the amount now owed. It makes me sick to think that I thought i was doing the moral thing and pay of this debt when all the while they were waiting to shaft me 10 years down the line. In hindsight i should have gone bankrupt when I lost the property (like I was advised by CAB) I am gonna fight this till the bitter end through the courts if thats where they take me.

I think NCC were proberly part of morley as I noticed tonight there old address was in Morley Leeds.

[sticky29]

does anyone know if it is true that a company dosent have to send a notice of assingment if the purchasing company is part of ther same group?

[sticky29]

bump

[sticky29]

anyone?

[sticky29]

bump

[sticky29]

does anyone know if it is true that a company dosent have to send a notice of assingment if the purchasing company is part of ther same group?

[sticky29]

bump

[Pinky69]

i would think it probably is because they wouldn't have to assign it to themselves - they already own it. It is usual in this circumstance to inform the customer of the change of collector.

[alen27]

have you missed a payment sense you started paying are you paid it late if any of these happen a crazy interest charges get auto applyed on to the account as this happend to me when i stoped paying them before the account went into dispute

 

 

and they to would review the account every year with any applicable interest.

No interest should be added on to the account as long as you don't mess any payment I don't no why they saying that they are not the original creditors they just bought the debt maybe with 50% off

 

We payed this amount for nearly nine years and in all that time we were never contacted by anyone to review the account

 

Sorry to say this but nine years and you waiting for them to contact you this doesn't sound right you should at least check on your own account once every few months so you no whats going on

Edited November 17, 2009 by alen27

[sticky29]

The devil has reared its ugly head again!!!! since I last posted on this thread I had many letters from cabot regarding this debt which I responded with I do not acknowledge this debt. The last letter they sent was in march 2010 then all went quiet. I have received a letter this week from cabot saying they are passing my account out to Mackenzie Hall ltd and in the same envelope a Letter from Mackenzie hall saying they have been instructed to recover the debt. Is this normal practise? Also come this October it would have been 6 years since I last made any payment although they had been writing to me till 2010 so does that mean the account wont be statute barred?

[Bernie259]

I don't think you have to much to worry about if you have disputed the debt for the past 6 years and paid nothing, sounds like they are having a last go before the six years is up, however, don't ever trust Cabot, they are sly and if they slipped a claim in that you failed to respond to and the got a default judgement then its very hard to turn back the wheels of justice, keep an eye on your post until October and then tell them you have always disputed the debt and its now statue barred, my long nightmare ended with Cabot after a very long court battle, good luck

[Stigman]

I have received a letter this week from cabot saying they are passing my account out to Mackenzie Hall ltd

 

Also come this October it would have been 6 years since I last made any payment although they had been writing to me till 2010 so does that mean the account wont be statute barred?

 

Good news that it is being assigned to Muck Hall, this means that Cabot know that they have a lemon debt so are passing it on to an even more bunch of incompetent idiots.

 

Generally, the law states that if in England/Wales Statute Barred is 6 years (5 years if in Scotland) of either no payment or no written acknowledgement of the debt but personally I would eek this out for one calender month extra to cover the first missed payment date.

 

Stigman

[sticky29]

Thanks for the replies Bernie259 and Stigman it is much appreciated. I will let it go beyond the 6 years like you said stigman and glad to hear you are free from them now bernie259