@asklloydsbank Cabot Financial brought lloyds tsb debt and I'm worried.

[bhb1958]

Please can someone advise me in very clear easy-to-grasp language as I have cognitive problems due to M.S .

 

About 6 years ago I was offered and accepted a credit card from Lloyds Tsb.

 

I fell into debt due to marriage break-up and after a mental health breakdown I defaulted on payments.

There is no excuse for that, I know, and I have been stupid.

I paid occasionally when I could, but buried my head in the sand.

I had a few letters from lloyds, but nothing much, and then heard nothing. I still bank with lloyds.

 

A year ago I moved home.

 

Yesterday I had a letter from someone called Cabot Financial, saying they had brought the debt from Lloyds, and stating that I owed £4,995 to them now.

I didn't think it was that amount, but I did think it would be around the £3000 mark.

 

I'm not disputing that I owe money, and I'm not simply trying to get out of paying it, but my circumstances have changed so much that I'm not able to pay it at the moment.

 

I am disabled, out of work, on benefit, and have a disabled child also.

 

This house move was to enable us to make a fresh start after a huge tragedy and trauma to myself and my daughter,

and to be honest I had not given this debt a thought since we moved, I was enjoying living in peace for the first time in 20 years.

 

This letter has thrown me into a tail-spin and I have not slept all night for worrying about it.

I cannot pay it. I

can barely live financially as it is.

I googled Cabot Financial and read stories of harassment , threats and bailiffs forcing their way into people's homes, and I am now too afraid to contact them,

I read that if you phone them they will intimidate you into payi g an amount you cannot afford?

 

I do t know what to do?

 

The thought of bailiffs trying to force their way into here makes me feel I'll,

my daughter is autistic and it's taken her months to adapt to living in a new place and feeling safe again,

if someone tries to intimidate us or tries to come Into here and take goods, it will cause her enormous stress and a relapse.

 

Not to mention how I would feel too.

 

Please, what should my first steps be in trying to sort this? I simply do not have £5000, I dont even have £500 !

 

Please help?

[Rraa]

Hello BHB. I think you might like to call StepChange - there website is http://www.stepchange.org/ and they have a freephone number for you to call. Phone them on Tuesday morning and they will give you lots of good advice.

 

I do believe you won't have to pay everything all at once and StepChange will even give you advice on how to pay just £1.00 per month until your circumstances improve. Give it a go and I hope you feel much better after speaking with them.

 

PS: Step Change is not a DCA, it is a charity which gives advice on how to manage debt, like National DebtLine. They do not charge you for their advice.

Edited May 26, 2013 by Rraa
Better information added

[citizenB]

You might want to also investigate if there are any default/penalty charges that you might be able to reclaim, it does rather sound as though there might be quite a few.

 

You can do this by sending a Subject Access Request to LTSB - it will cost you £10.00 and you should receive all the information regarding the financial relationship with bank. They have 40 calendar days to supply this. There is a draft request in the CAG library. Once you receive this data, which should include all your statements, then you need to go through them and enter the charges on to a spread sheet, which you then send to LTSB requesting they refund these.

 

I am not sure where people obtain stories of bailiffs turning up for credit debt.. they wont. However, you shouldn't telephone the DCA. Keep everything in writing.

 

Do you own your own property ? Do you have other debts ?

 

It might be worth you having a word with National Debtline. They will discuss your financial situation, in confidence and advise you the best way to deal with your debts. If they consider that it would be best for you to enter into a Debt Management Plan, then they will refer you to one of the Debt Charities, either PayPlan or Step Change. You can have these manage your debts for you, or you can self manage a DMP. We can help you do that.

[bhb1958]

Thank you both very much for your fast responses, I did just try to post a thank you separately but I must've done something wrong, as it didn't post.

 

You have both been very helpfully.

 

I dont own my own home, it's a housing association property. I don't have any other debts. If there's anything else I can tell you, please ask, I'm gratefully for any help or suggestions.

[bhb1958]

In the meantime, if I'm waiting for Lloyds to forward me the paperwork you mentioned, how do I stop Cabot from coming to my home or taking me to court?

[dx100uk]

typical crapbot letter.

 

read it PROPERLY

 

nowhere does it say bailiffs can come to you house

 

crapbot are a DCA, they are NOT BAILIFFS

and have NO SUCH LEGAL POWERS

 

I would suspect this is getting close to the statute barring date [6yrs]

 

can I suggest you get your CRA file

 

see below

 

I bet this debt is not there or very close to 6yrs defaulted too

 

dx

[Rraa]

I doubt if Cabot Financial will send the heavies in without knowing your circumstances.

 

As Dx100 says, they're not bailiffs but just middle-men.

 

You may need to communicate with them at some point to let them know,

as you said in your first post here,

that you are not unwilling to pay,

just unable to pay at the moment and certainly unable to pay much at all until your circumstances change.

 

If you contact National Debtline or StepChange, an advisor will talk you through how to communicate with the people

who are collecting on behalf of LTSB (if you need to do so).

 

However, this is a long time ago - how long before a debt can be barred?

Edited May 26, 2013 by Rraa

[bhb1958]

Just re-read it all, it says this-

 

Dear Ms ******+++

 

We have recently confirmed that you live at the above address.

 

The Cabot Credit Group has recently bout the account you held with Lloyds Tsb and are now responsible for answering queries and receiving payment.

According to our records you owe £4,995.70.

Please contact us as soon as possible to discuss repaying your account.

 

Payments should be made to Cabot Financial Europe.

 

Payment can be made by direct debit, credit or debit card, standing order, online banking, cash or cheque or payment with a Cabot payment card.

 

The most important thing you can do now is to get in touch with us

 

Yours sincerely

Peter Anderson, customer liaison manager.

[bhb1958]

Thank you all, I have to leave the computer now but will log back on either tonight or to or row, so any other pointers or suggestions will be great, thanks a lot to you all.

[dx100uk]

I doubt if Cabot Financial will send the heavies in without knowing your circumstances.

 

As Dx100 says, they're not bailiffs but just middle-men.

 

You may need to communicate with them at some point to let them know,

as you said in your first post here,

that you are not unwilling to pay,

just unable to pay at the moment and certainly unable to pay much at all until your circumstances change.

 

If you contact National Debtline or StepChange, an advisor will talk you through how to communicate with the people

who are collecting on behalf of LTSB (if you need to do so).

 

However, this is a long time ago - how long before a debt can be barred?

 

please try and refrain from recommending people contact dca's

 

they are NOT middle men to bailiffs nor ANYONE.

 

they are fleecers.

 

as for stepchange etc

 

let ensure the debt exists first shall we?

 

dx

[dx100uk]

Just re-read it all, it says this-

 

Dear Ms ******+++

 

We have recently confirmed that you live at the above address.

 

The Cabot Credit Group has recently bout the account you held with Lloyds Tsb and are now responsible for answering queries and receiving payment.

According to our records you owe £4,995.70.

Please contact us as soon as possible to discuss repaying your account.

 

Payments should be made to Cabot Financial Europe.

 

Payment can be made by direct debit, credit or debit card, standing order, online banking, cash or cheque or payment with a Cabot payment card.

 

The most important thing you can do now is to get in touch with us

 

Yours sincerely

Peter Anderson, customer liaison manager.

 

 

IGNORE!!

 

get that cra file.

 

we could say you owe £1000 per post...

 

would you pay it..NO!!

 

dx

[bhb1958]

I went through tons of old paperwork last night and this morning, but I can't find any of the paperwork about this credit card loan or when I took it out.

 

I spoke to my ex this morning and he seems to think it was probably given to me around 2009 though?

 

I have memory problems due to M.S and I do get confused, so maybe he is right.

 

How do I find this out please?

What is a cra file?

Do I contact Lloyds about it or do they not keep all the paperwork if another company has bought the debt?

And should I or not contact Cabot?

 

I'm sorry if I'm coming across as stupid,

I need things explained to me in a very simple way or I have trouble understanding.

 

So could you tell me what my very first step should be now, and exactly what steps should be taken.

 

My ex told me to just phone Cabot and offer a monthly payment plan, but I'm worried about doing the wrong thing.

 

I will be back on this evening to hopefully read more advice, at the moment the more I read the more confused I'm getting.

 

Thank you all for your help and patience.

[bhb1958]

I have just remembered something. Until arou d 2 years ago, Lloyds sporadically took money out of my currant account without Informing me, to pay the credit card payments, sometimes around £100 each time.

 

I tried changing my bank because this often left me very little money to live on and direct debits sometimes couldn't be taken out as there wasn't enough left in the bank, but had trouble changing banks due to, I guess, the fact that my credit was poor? So I stayed with Lloyds.

[dx100uk]

hey no worries

 

your getting there.

 

take you time.

 

you can get your cra file by following the links below

 

dx

[SWLABR9]

This is what dx is referring to. It's under his post.

Credit Reference Agencies:Experian Equifax CallCredit noddle

 

Experian, Equifax, CallCredit and Noddle are all credit rating agencies. Click on the links to any of them, I think preferably Noddle, and set up an account and you should be able to find out what it says on your all-important credit file. That'll give the regulars here more information they need so they can advise you better.

[SWLABR9]

Here's the start page for Noddle, for example https://www.noddle.co.uk/signup?

[bhb1958]

Here's the start page for Noddle, for example https://www.noddle.co.uk/signup?

 

I've just filled in all the forms, but right at the end it said it couldn't give me my credit details as it couldn't verify who I was? Possibly because my debit card is less than 3 months old ( I lost old one and had to have it replaced) or because I e only been at this address for a year?

[bhb1958]

I've also looked at my online banking, but only my currant account is now listed, the credit card account has been taken off the site.

[dx100uk]

you'll have to do that £2 PO + paper request.

 

not all the creditors/dcas report to ALL of the CRAs.. so to obtain a full check, you really need to contact the 3 main players.

 

Company Secretary

Equifax Limited

Capital House

25 Chapel Street

London

NW1 5DS

 

 

Company Secretary

CallCredit Limited

1, Park Lane,

LEEDS

West Yorkshire

LS3 1EP

 

Company Secretary

Experian Limited

Talbot House

Talbot Street

Nottingham

NG80 1TH

 

You can either complete the forms online or send a letter (below) with a £2.00 postal order.

 

---Quote---

All of the three Credit reference agencies offer a paper version and they only cost £2

 

Noddle (who are part of CallCredit) off free online credit reports but as they are the smallest of the threee, they may not have all the info

 

Experian paper app.

http://www.experian.co.uk/downloads/consumer/cfa.pdf

 

Call credit

http://www.callcredit.co.uk/media/53...itfile-app.pdf

 

Equifax

http://www.equifax.co.uk/Products/cr..._file_0310.pdf

 

Send with a £2 postal order.

 

You can use Experians online free trial. just make sure you cancel before the trial runs out

 

Address

 

Company Secretary

CallCredit Limited

1, Park Lane,

LEEDS

West Yorkshire

LS3 1EP

 

Dear Sir or Madam,

*Limited Data Subject Access Request

s9(2) The Data Protection Act 1998*

I hereby request a copy of my Statutory Credit Report, served under s9(2) of The Data Protection Act 1998.

I enclose the Statutory Fee of £2 paid via Postal Order, number: 123456.

For the purposes of confirming my identity, I can confirm the following details:

*My full name*:

*My Maiden Name: *

*My Date of Birth*:

*My current Address*:

 

I have lived at the above address for XX years.

 

I note that under s7(3) of the above Act, a data controller is not obliged to comply with a request under this section unless he is supplied with such information as he may reasonably require in order to satisfy himself as to the identity of the person making the request and to locate the information which that person seeks.

However, I feel the above information identifies me sufficiently to discharge your obligations to establish my identity before posting my Credit Report.

I am aware that you have 7 Working Days to post the Credit Report to me, commencing the day after this s9(2) Statutory Request has been delivered to your Company.

*This letter must not be regarded as granting your Company any Data Consent*.

Yours faithfully,

*Enclosures:

*1 x Statutory £2.00 Fee via Postal Order Number: 123456

*Notes*:this letter is being sent via Royal Mail Special Delivery service

---End Quote---

there is also

www.checkmyfile.com

....ends

[bhb1958]

Ok, I've just paid equivalent for my credit history, and it's pretty confusing?

 

I have retyped it here as follows.

-------------------------------------

CREDIT CARD ACCOUNT WITH CABOT FINANCIAL.

BALANCE- £4,995.70

 

Start date 17-07-2002

 

Default date 13-10-2011

 

STATUS, DEFAULTED

 

DEFAULT BALANCE, £4,995.70

 

DATE UPDATED, 18-10-2012

---------------------------------------------------------------------------------

 

 

CREDIT CARD ACCOUNT FROM LLOYDS TSB. XXXXXXXXXXXXX6446

CREDIT LIMIT £4,600

 

START DATE 17-07-2002

 

DATE UPDATED 8-05-2008

 

DATE SATISFIED, 10-03-2008

 

STATUS, SETTLED

 

------------------------------------------------------------------------------

 

CREDIT CARD ACCOUNT FROM LLOYDS TSB XXXXXXXXXXXXX2174

 

TERMS- 0 at 0 per month.

 

BALANCE, £0

 

CREDIT LIMIT, £0

 

START DATE, 17-07-2002

 

DEFAULT DATE, 13-10-2011

 

STATUS, SETTLED

 

DEFAULT BALANCE, £4,995.70

 

DATE UPDATED 31-08-2012

 

DATE SATISFIED, 31-08-2012

--------------------------------------------------------------------------------------------

 

 

And that's it. I don't understand hardly any of it? But I know I've only had one credit card from lloyds, so why are there two listed?

 

Thanks again, I hope this helps you to help me.

[bhb1958]

you'll have to do that £2 PO + paper request.

 

not all the creditors/dcas report to ALL of the CRAs.. so to obtain a full check, you really need to contact the 3 main players.

 

Company Secretary

Equifax Limited

Capital House

25 Chapel Street

London

NW1 5DS

 

 

Company Secretary

CallCredit Limited

1, Park Lane,

LEEDS

West Yorkshire

LS3 1EP

 

Company Secretary

Experian Limited

Talbot House

Talbot Street

Nottingham

NG80 1TH

 

You can either complete the forms online or send a letter (below) with a £2.00 postal order.

 

---Quote---

All of the three Credit reference agencies offer a paper version and they only cost £2

 

Noddle (who are part of CallCredit) off free online credit reports but as they are the smallest of the threee, they may not have all the info

 

Experian paper app.

http://www.experian.co.uk/downloads/consumer/cfa.pdf

 

Call credit

http://www.callcredit.co.uk/media/53...itfile-app.pdf

 

Equifax

http://www.equifax.co.uk/Products/cr..._file_0310.pdf

 

Send with a £2 postal order.

 

You can use Experians online free trial. just make sure you cancel before the trial runs out

 

Address

 

Company Secretary

CallCredit Limited

1, Park Lane,

LEEDS

West Yorkshire

LS3 1EP

 

Dear Sir or Madam,

*Limited Data Subject Access Request

s9(2) The Data Protection Act 1998*

I hereby request a copy of my Statutory Credit Report, served under s9(2) of The Data Protection Act 1998.

I enclose the Statutory Fee of £2 paid via Postal Order, number: 123456.

For the purposes of confirming my identity, I can confirm the following details:

*My full name*:

*My Maiden Name: *

*My Date of Birth*:

*My current Address*:

 

I have lived at the above address for XX years.

 

I note that under s7(3) of the above Act, a data controller is not obliged to comply with a request under this section unless he is supplied with such information as he may reasonably require in order to satisfy himself as to the identity of the person making the request and to locate the information which that person seeks.

However, I feel the above information identifies me sufficiently to discharge your obligations to establish my identity before posting my Credit Report.

I am aware that you have 7 Working Days to post the Credit Report to me, commencing the day after this s9(2) Statutory Request has been delivered to your Company.

*This letter must not be regarded as granting your Company any Data Consent*.

Yours faithfully,

*Enclosures:

*1 x Statutory £2.00 Fee via Postal Order Number: 123456

*Notes*:this letter is being sent via Royal Mail Special Delivery service

---End Quote---

there is also

www.checkmyfile.com

....ends

 

Wow thanks for taking the time to do all that do. We must have been cross posting, but thank you very much.

[bhb1958]

I've been reading on the web for the last few hours,

thinking maybe the debt would be written off as it was originally taken out in 2002,

but have read that this 6 years stat thing doesn't count in my case because Lloyds took payments (albeit without my permission)

from my currant account as recently as 2011.

 

Am I right in thinking that this, as I've read, starts the clock ticking again on the debt?

 

Thank you, I hope the equifax credit details I posted on page one helps.

[dx100uk]

thread tidied

 

dx

[dx100uk]

have you got details of any payments PRIOR to this 2011 off setting theyhave done?

 

COULD there have been a period of 6yrs whereby you did not use or pay the card any money?

 

dx

[dx100uk]

and for your ref

their off setting does NOT reset the SB clock

 

that will run from YOUR last financial transaction in/out before those off sets.

 

on the dra file

does it detail payments in its history?

 

dx