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amac31

Cabot Claimform - old Welcome secured loan - now applied for SJ & Lift the stay ***Claim DIscontinued***

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Hi,

 

myself and my wife have a secured loan with welcome finance but

due to financial difficulty and other issues we have had with Welcome we have not been paying it since 2010.

 

We have now received letters to say that the debt has now been sold to Cabot

and they now hold all rights to the account.

They have appointed Marlin as their managing agent.

 

Does this mean that this account is no longer a secured loan?

If it is not, does this mean that welcome never executed the loan correctly in the first place

because they could have just gone for a repossession.

 

Forgot to add, this account does not appear on our credit file and has not for over a year.

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SAR welcome, request a CCA from the company chasing you. Welcome make mistakes with pretty much every loan they have. be it dodgy paperwork/bogus charges etc. Your task now is to find out exactly what is going on, and what you could reclaim from welcome.

 

So first step, CCA the new owner when they chase you. meanwhile SAR welcome and see what you can reclaim, because if youve never reclaimed anything, then its almost guaranteed theres something there to get.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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Ok will do, I do have some of the original paperwork from welcome, it was a secured loan then they rewrote it to bring the interest rate down and our payments. Going back to my original question, is the loan still secured now that it has been sold on?

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I'm not too sure about that. Sit tight and lets see if anyones around to help. The forums are usually quiet on the weekend, so be patient.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Ok, many thanks

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I would suspect as with all welcome loans now

they have totally be removed from CRa files and land registry site

 

go check.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

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I have checked and there are no entries on our CRA files but the charge is still registered with the land registry as of today's date.

I have also sent off our SAR to Welcome finance.

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We have now received a letter from Marlin to say that as we have not agreed a repayment plan with them Cabot has now appointed Mortimer Clarke Solicitors to take over recovery action from them.

 

We have not heard anything from Welcome with regards to the SAR as of yet.

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when did you take this BTW

 

 

dx


please don't hit Quote...just type we know what we said earlier..

 

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The loan was taken out in feb 2008 but then it was re-written in June 2008 after we complained about the high interest rate.

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Now had a letter from Mortimer Clark threatening court action, strangely the letter only came in my name even though it is a joint loan.

 

How should I defend this one if it goes to court?

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Does this letter say they WILL take court action or May/Might take court action?

 

Probably addressed to you as the 1st Named Creditor.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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The letter states that they have been instructed by Cabot to start court proceedings, then all the usual jargon about what they can do once they have obtained a CCJ.

 

I am just about to reply to them to inform then that the account has been in dispute since 2010 and because of this they must hold off on all collection action.

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Don't forget to state that " you do not acknowledge and debt to their client"

 

When was the loan started?


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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See post 10

 

Is there a letter in the template library to inform them that the account is in dispute?

 

Is it worth sending a CCA request to Cabot or Mortimer Clarke?

The loan is not that old so I suspect that the agreement will be available,

 

I am also still waiting for the SAR back from Welcome.

 

They have processed the payment so It must be being processed.

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did you sign the rewrite

or was it done over the phone?

 

 

dx


please don't hit Quote...just type we know what we said earlier..

 

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Thanks for the reply, Yes we signed the rewrite, we still have both agreements in our files.

 

What I cannot understand is why they have not gone for repossession as it is/was a secured loan.

Have they sold it on because they thought that they might lose in court?

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anything to do with welcome is 90% dodgy yes.

 

can you scan up the agreements please

 

do you have all the statements too yet?

 

I would send MKDP a CCA request yes.

 

esp as you have the originals to compare against

 

dx


please don't hit Quote...just type we know what we said earlier..

 

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I sent off a SAR to welcome at the beginning of August but have had nothing back yet but

 

 

they have processed the £10 fee so I assume that they are in the process.

 

Forgive my ignorance but who is MKDP?

 

 

I will scan documents over the weekend and post them up.

 

 

Do I reply to Mortimer Clarke to inform them that the account is in dispute?

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silly me

your lot is cabot/Mortimer

 

 

yes CCA Mortimer.

 

 

welcome debts are usually sold to MKDP you see/

 

 

dx


please don't hit Quote...just type we know what we said earlier..

 

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Ok will do that but I suspect that they will have agreements as loan is not that old. Will that make them hold off court action?

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totally random - no ay of telling

 

 

even paying will not stop court action TBH if this were ME I'd ignore everything

until/unless they issue a claimform.

 

 

the CCA could be useful

 

 

what if they send something back that's not what you hold

would that not make you wonder...huh?

 

 

pers I'd hold anything till the sar return

 

 

dx


please don't hit Quote...just type we know what we said earlier..

 

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Ok thanks, I will send CCA off in the morning.

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Please find attached documents for first loan, documents for re-write will be uploaded shortly.

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CCA sent off today, has anyone had the chance to look over the agreements to see where we stand?

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