Help with Cabot and Activ Kapital

[leedv999]

Hi guys, i was looking for some advice from somebody about debts i have been slowly paying off for some time now. On 7/04/2005 i defaulted on a barclaycard my default balance was £5766 since then i have been paying a company called Cabot financial around £80 p/m, my balance is now £2791 but still marked DEFAULT on my credit file. On 25/01/2005 I defaulted on a Morgan Stanley credit card my default balance was £2701 and for a while ive been paying a co. called Activ Kapital my current balance is 1956 but again is still showing DEFAULT on my credit file. I havent got any copies of any credit agreements etc so should i just keep paying until the balanceas are clear or does anyone have any other suggestions of things to try to get them cleared off sooner. thanks for persevering with my long winded question.

[Dizzle]

You can carry on paying them each month if you are happy with the amounts owed. The defaults will drop off your credit file in January and April next year which will improve your credit rating.

 

If you want to dispute the amounts owed then there is plenty of info on this site on how to ask them for copies of the original CCA and SAR.

 

Alternatively, if you have access to a lump sum, offer each company a full & final settlement.

 

Whatever you choose to do, the defaults will still remain until Jan & April next year and then disappear, paid or unpaid.

[Bazooka Boo]

Are these amounts what they have told you to pay??

 

It doesn't work like that unfortunately, you tell them how much you will pay.

 

£80 a month to these scoundrels is a ridiculous amount. Esp if you can't really afford it!

 

Did Sharklay card and Morgan Stanley send you a default notice? And a Notice of assignment, or did these two DCA's just turn up and state they wanted money off you for these debts?

 

I would cetainly look at sending them a CCA request;

http://www.consumeractiongroup.co.uk/resources/templates-library/86-debt-collectors/581-cca-request-letter

Enclose a £1 postal order, and send recorded delivery, to both of them.

 

They have 12 days from receipt of your letter to send you the CCA, when they do scan and post it up on here, removing all ID!

 

Alternatively, you can carry on paying them each month, but I would definitely only pay them what I could comfortably afford and nothing more.

[leedv999]

Thanks bazooka boo, its not really that i cant afford it now to be honest but at the time of the defaults in 2004 i was between jobs tried to explain to sharclaycard and MS that i couldnt afford the minimum payments but they kept banging on more charges. In the end I just ignored them for about 2 years then these characters sent some information through saying i could pay them off at £50 and £35 respectively since then (although tbf I have moved address a few times and never forwarded it) Cabot have been increasing my direct debits o0n a yearly basis on avg about £10 per year, but the Aktiv has always remained at £35. It was only after stumbling on this great website that its made me wonder how legal the original paperwork was and whether there might be some way to reduce the debt. Ultimately I did spend the money (but not all of it as a fair bit was made up of charges) and my defaults will be off like dizzle says early next year but a poss saving of £115 pm is still a lot of money. any more advice, much appreciated.

[dx100uk]

ALL the charges/fees , ppi etc etc can be reclaimed & you get interest on them at THEIR rate.

 

do some reclaiming

 

dx

[leedv999]

That sounds fun, but being totally naive i have no paperwork at all and wouldnt know where to begin working out what exactly i have been charged and by whom, livig like an ostrich has done me no favours whatsoever.

[dx100uk]

time to cca everyone you are paying me thinks

 

dx

[leedv999]

Thanks Dx I have copied the CCA request letter and will be sending them off, but not sure if I need to do anything in the meantime about reclaiming charges as I think in the likeley event they do respond I still won't kbnow how much iv'e been charged in total will I?? confused.com:confused:

[dx100uk]

only an sar will reveal statements etc, unless you already have them?

 

dx

[leedv999]

no i dont really have anything anymore every scrap of paper has been lost in transit with a few house moves. would i send a subject access request to sharkleycard and ms or to crapbot and aktiv, many thanks.

[dx100uk]

sar goes to the OC

 

dx

[leedv999]

many thx dx do you know a link to a template letter for a SAR pls

[Pinky69]

Particularly check out the MS agreement - they have all been cut and paste. I would be surprised if both Cabot and Aktiv Capital have agreements that are enforceable because they both buy a lot of old rubbish. Remember too that they bought these debts for pennies and are making a fat profit by demanding payment for the full balance. Hopefully you will be able to put them into dispute. I would ask for the agreements with a CCA request sent to Cabot and AK just so you can do that. With an SAR the original creditors have 40 days to reply.

[leedv999]

Thanks Pinky69 I will do, would i just ask for the agreement at the bottom of the CCA template letter or is there anything in particular i need to state i am a bit green on these matters. Also with my SAR to my OC I dont know what my account numbrs are and have no references so do you think my name and original address would suffice??

[Pinky69]

The info you need for the CCA is on the template letter.

 

CCA request letter.

 

Print, don't sign, your name and enclose a £1 postal order. They have 12 (+2 for admin)days to reply and if they don't send a copy of the agreement in that time you can put the it into dispute - there is a template.

 

For the SAR give them as much info as you can - name,address, the DCA, the DCA's reference number, when it was assigned to the DCA - if you know.

[leedv999]

thanks pinky69 got that letter, with the SAR would I just send off my information to the head offices of Barclaycard and Morgan Stanley or is there a template letter i can copy for my SAR. ive tried to find one but keep getting lost in all the forums

[Craftygirl42]

Just read your thread and you say that Cabot have increased your direct debit every year. I would cancel the Direct Debit, as they have the control over it and if you wish to continue to pay then set up a standing order, then you have the control

[leedv999]

Wise words craftygirl think i'll do that in the bank tomorrow, ive just been living under the assumption i was doing the right thing and it would be paid off sooner.

[havinastella]

If you have been paying Cabot/AK for some time, I would also spend the extra £20 and SAR both of these companies.

 

Jogs

[Pinky69]

Subject Access Request - Debt & DCA

 

The templates are in the libraries, which are on the Debt Action Group home page at the top.