Cabot and Barclays Partner Finance possibly SB debt?

[greenhill]

Just had Cabot through the mail with regard a 2K + debt.

This was taken out in January 2007 but had a 1 year interest free/no payments thing (meaning I didn't have to start paying until Jan/Feb 2008).

My CR file only shows defaults from Jan 2011 but it does state that account closed with OC in June 2008.

 

Now, I am sure that I never made a single payment towards this debt and the default end date is June 2008.

 

Am I right in thinking that defaults are registered after 6 missed payments (6 months) and that this debt is pretty much statute barred?

 

Many thanks for any advice you may have.

 

G

[greenhill]

Hi all,

 

I have a couple of questions if you would be so kind...

 

1. Just had a Cabot letter through the mail with regard a 2K + debt.

 

This was taken out in January 2007 but had 1 year interest free/no payments thing (meaning I didn't have to start paying until Jan/Feb 2008).

 

My CR file only shows defaults from Jan 2011 but it does state that account defaulted with OC in June 2008.

 

Now, I am sure that I never made a single payment towards this debt and the default end date is June 2014. (Home repossessed soon after in 2008 so debt actually went out of my head, it wasn't a deliberate act as such).

 

Am I right in thinking that defaults are registered after 6 missed payments (6 months) and that this debt is pretty much statute barred?

 

2. Checking my credit file under the section "Closed Accounts", there are some debts showing settled (£0 balance), and a few with outstanding balances. Are the ones showing closed with balances no longer being chased?

 

Many thanks for any advice you may have.

 

G

[sequenci]

Hello there,

 

If the contract expected you to start paying in Jen/Feb '08 and you didn't, the contract is likely to have breached shortly after that point. I would imagine that you're just about coming up to the point where the debt being statute barred. The point where the 6 years runs is the point where the creditor could have sued you for the full amount outstanding.

 

Your credit file isn't likely to be the most accurate measure. Do you still have a copy of your terms and conditions?

[Desperate Daniella]

Who was the OC?

[greenhill]

Thank you for such quick responses.

 

I do not have any paperwork relating to this debt but after checking my CR file it has rung a bell with me.

 

I know for a fact that I took the loan out at the end of Jan 2007 and was due to commence payment 12 months from that date.

 

The OC is Barclays Partner Finance but I am sure Cabot now own it.

 

How quick are Cabot on the chasing? Am I able to delay them a couple of months just to make sure on the SB side of it?

 

Many thanks

 

G

[sequenci]

My approach would be to ignore them for now. The first letter or two are likely to be fishing letters anyway. Do, however, check each letter that comes through - and if you firmly believe that they might bring action you can send the stat barred letter at a later stage. The longer you leave it, the greater your chances. My gut feeling is that the stat barred date is within the next two months tops.

[greenhill]

Thanks Sequenci,

 

I will await the first "threatening" letter and slow them down with a prove it/CCA request etc. that should slow them down a bit!

 

G

[Desperate Daniella]

And if you get a letter stating that you should reply within a certain timeframe don't reply until the end of it. Time marches on ....

[greenhill]

Good point DD!

 

Thanks

 

G