Paul, help with Barclaycard.

[paul1958]

Hi All,

long time reader first time poster.

 

I hope someone can help.

 

I received my SAR info from Barclaycard and have found that since my reduced payment plan started in 2004 interest was added for the first 11 months.

 

Then the interest stopped and the balance was reduced for the next 21 months.

 

Then the balance reduced to zero(which was not actually the case)

and I carried on paying the monthly payments for 65 months,

but this has never shown on their records.

 

The debt was then sold to CABOT who I now make regular payments to

 

.I have not missed a single monthly payment from the start and it seems I now owe more than I did in the first place .

 

Could someone please point me in the right direction.

Thanks

Paul

[maroondevo52]

Hello and Welcome Paul,

 

I've moved this thread to the appropriate Forum, hopefully you'll get some help shortly.

 

Regards,

 

Scott.

[dx100uk]

what

been paying sinced 2004!

 

get your cra file [see below noddle is free]

 

i bet it was sold when the bal went to '0'

 

crapbot have purchased the debt

 

and i bet every penny has gone in their profit pocket

 

CCA crapbot now.

 

dx

[fletch70]

Hi Paul. As dx says cca cabot now. You say that your debt is now greater than when you started? Are cabot sending you statements. All seems very odd to me, something stinks.

[citizenB]

Yes, there does seem to be a real problem here.

 

You might want to send Subject Access Request to Barclayshark to obtain statements so you can see what has gone on.

 

It sounds very much to me as though they have continued to add interest whilst you are on the reduced payment plan. Did you get acceptance of the plan in writing and do they confirm they will stop interest.

[fletch70]

Citizen B unless i misread he has already SAR'd B/C. Might it be worth a sar to cabot after the cca?

[slick132]

Hi Paul,

 

As the a/c has been with Cabot for so long, I think the SAR should be sent to them along with a CCA request. Both are in the Library - http://www.consumeractiongroup.co.uk/forum/content.php?65-legislation

 

The SAR to Cabot should show how the debt has altered over the months and years with each payment.

 

SAR - http://www.consumeractiongroup.co.uk/forum/content.php?417-A-Subject-Access-Request-for

 

CCA request - http://www.consumeractiongroup.co.uk/forum/content.php?414-CCA-request-letter

 

Can you give us approx figures of what the debt was when sold to Cabot, what it was when they stopped adding interest, and what the debt is now.

 

Do you have the old BC a/c statements. If so :-

 

1. How far back do they go.

 

2. Can you see any penalty charges and/or PPI being added to the a/c before the sale to Cabot.

 

[paul1958]

Hi all ,the debt has only recently been transfered to CABOT .I have a SAR from barclaycard and the dates from 2004 refer to barclaycard not Cabot.I have done the credit report on Noodle and to my amazement it is 5/5

Thanks

Paul

[slick132]

Hi Paul,

 

Does the SAR response from BC show any penalty charges and/or PPI charges.

 

On what date did the BC balance reduce to zero. I'd have thought THAT was when the a/c was sold, either to Cabot or to another DCA.

 

[dx100uk]

you say the debt has only recently been transfered to cabot

 

how do you know this?

 

time to ask where your payments have gone

 

i take it you fell for a threat-o-gram and paid

 

that sar to crapbot will be interesting!

 

i'd total up what you have paid

 

and take that off the original balance from BC

 

where do you stand then?

 

dx

[paul1958]

Thanks all for your replies.I think I need to go after BC first,then deal with CABOT.Has anyone got any ideas on how to go about this or are there any template letters which I could adapt to get the ball rolling

Thanks

Paul

[slick132]

Hi Paul,

 

I think you should send the CCA request to Cabot as it's them who are chasing the debt and you need to see if they have the paperwork required for them to do this with any authority.

 

BC are likely to simply refer you to Cabot now anyway as BC no longer own the debt.

 

You haven't told us if there are any penalty charges or PPI showing as charged to the a/c. Any such charges can be reclaimed in full plus interest.

 

[fletch70]

I thought PPI could only be reclaimed if it was mis sold as for penalty charges,the old ones yes but not so easy on the £12 ones

In your SAR bundle did you get a list of payments received. Those you need to find out about

[slick132]

I thought PPI could only be reclaimed if it was mis sold as for penalty charges,the old ones yes but not so easy on the £12 ones

 

Penalty charges can be reclaimed in full, whether they were from before the OFT £12 limit was imposed, or after.

 

PPI can be reclaimed if it was missold or inappropriate and there are many circumstances in which PPI will be repaid by the bank.

 

[paul1958]

Hi All ,a quick update .I have been made an offer from Barclaycard for interest and charges back to 2005,but I know that interest was being charged back to 2001.Do you think that this is worth pursuing.Also could anyone tell me if the settlement would be paid to me or to Cabot

 

Thanks Paul

[dx100uk]

if they don't OWN the debt they cannot offset

 

dx

[slick132]

Hi Paul,

 

Have you entered the penalty charges data onto your own spreadsheet to see if what they're offering to refund is fair - I doubt it will be !

 

Use a rate of 24.9% on this spreadsheet and enter the date and amount of each penalty - http://www.shweb.pwp.blueyonder.co.uk/interestcalcs.xls

 

Any refund will be used to clear any debt outstanding with the DCA. If they no longer own the debt and you make a reclaim, BC may well repurchase the debt from the DCA to enable this.

 

[fletch70]

if they don't OWN the debt they cannot offset

 

dx

 

I have heard of instances where the new creditor has returned part of the assignment to the OC. who have then offset

[citizenB]

I have heard of instances where the new creditor has returned part of the assignment to the OC. who have then offset

 

This is true. I think it was a B/shark one as well.

[BRIGADIER2JCS]

Cabot CANNOT pay any refund of PPI and/or charges to BC.

[paul1958]

Sorry Brigadier do you mean the other way round.I have been made an offer by Barclaycard who were the original lender,but they sold the debt to Cabot

[slick132]

If BC see a refund is likely to be due, they may well repurchase the a/c from the new owner.

 

However, unless they actually repurchase the a/c, they cannot simply withhold all or part of a refund because a debt remains unpaid with the new a/c owner.

 

[paul1958]

Hi all ,a quick update I have filled in the spreadsheet and what Barclaycard have offered me is nowhere near this figure,so Ive rejected it.I'll keep you all posted when I get a response

[maroondevo52]

Hi all ,a quick update I have filled in the spreadsheet and what Barclaycard have offered me is nowhere near this figure,so Ive rejected it.I'll keep you all posted when I get a response

 

[slick132]

Hi Paul,

 

Noted and, while you wait for a reply to the LBA, use the time to research your next moves re PoC's, Filing the N1 Claim Form with CCMCC, etc.