Cabot chasing old BC card debt - settled by F&F in 1998 to BC!!

[dfms]

I recently received a letter from Cabot Finance claiming payment (£2K+) for an outstanding Barclaycard visa card in my maiden name.

 

 

I am confident that I have no outstanding debts and have credit reports for past 12 years (Experian/Equifax) to confirm.

 

 

However, several years ago (15+ years - late 90's) I was jointly and severally liable for some outstanding accounts.

Other party 'disappeared' and I made payments to all these "in full and final settlement".

 

 

At the time I had letters confirming this from each company however as many years have now passed,

after 12 years my FA told me I no longer needed to keep and could destroy the letters as all accounts would be SB'd anyway.

 

 

I do not therefore understand what this refers to.

 

 

I have considered sending a "Prove It" letter but

 

 

before I do would welcome any advice I haven't already thought of.

 

 

Just wondering what this could possibly be

- are Cabot trying to pull a fast one?

[AndyOrch]

Hi dfms and welcome to CAG

 

This is just a phishing letter and not a court claim? If just a letter send them a section 78 request to request sight of the agreement.

 

Regards

 

Andy

[dfms]

Just searching now for a Section 78 request...

[dfms]

I confirm it is just a letter and not a court claim and re-iterate that I am confident I do not have any outstanding debts.

[AndyOrch]

http://www.consumeractiongroup.co.uk/forum/showthread.php?387435-CCA-Request-Consumer-Credit-Act-1974-**Updated-January-2015**

 

Important you head the request " I do not acknowledge any debt with your Company "

[dfms]

Thank you,

I have said I do not recognise or acknowledge any debt and asked for a full statement of account with evidence of payments

and written acknowledgement of any outstanding debt in the last six years,

a signed true copy of the credit agreement,

when the debt was sold

and copies of letters from original credit stating such.

 

 

Have also added that they are prohibited by law from continuing any collection activity until they have done so.

 

 

Failure to obey the law in this regard will render them liable to prosecution for harassment.

 

 

Any idea what they're up to and where this could have come from.

 

 

How can they acquire a debt that doesn't exist??

[dx100uk]

but the 'debt' does still exists if you are in E&W

SB simply stops them from threatening or issuing court proceeding

 

 

they can 'ask' all they like for payment

 

 

you can equally 'ask' them to go away off.

 

 

dx

[dx100uk]

I pers would not be adapting our std CCA request

 

other than adding the line andyorch suggested.

 

the alternative is to not enter letter tennis at all.

 

as said its a phishing trip. after a mug they can fleece.

 

ok they could be looking at you as a mug

because you paid your debts off by some F&F offers.

 

and might be persuaded to pay off the remainder that was obviously sold on.

 

dx

[dfms]

Thank you dx.

 

 

I guess the 'mug' part is relevant simply in as much as I didn't realise that 'written off' debt from an F&F settlement could be sold on

Sneaky if they do this?!

 

 

I will post a reply if and when I receive anything concrete from Cabot.

 

 

The credit referencing companies have confirmed to me there are no record of any outstanding debt listed against my name(s).

[dx100uk]

no, because the defaults were prob more than 6yrs ago

and a defaulted debt is removed on the defaults 6th birthday.

 

 

bt ofcourse you are not told this

and blindly fall for all the threat-o-grams and eventually give in and cough up

even a small amount in the vain hope thy go away.

 

 

sad thing is

if a debt is not showing on your CRA file

its not harming you.

 

 

its always worthy to investigate every small detail

before anyone ever thinks of settling a debt

 

 

morally its a great feeling, but usually all it does it lines the pockets of the DCA's

to fund hassling 100'000 more people

[dfms]

Thank you dx.

 

 

I would add that when I made F&F settlements - way back around 1998

- these were direct to the original creditors (interest had been stopped) and didn't involve any DCAs at the time.

 

 

I only settled because the other party 'joint and severally liable!' did a runner and disappeared.

 

 

I wanted a clear conscience and credit record

 

 

so negotiated with the companies involved and made a percentage offer to each one based on the capital I had available at the time.

[dx100uk]

blimey that long ago!

 

 

you should be well home and clear by now then

 

 

well statute barred.

 

 

I really do hate these DCA's that they are allowed to try and spoof people more than 12yrs down the line into coughing up on

debts so obviously statute barred.

 

 

its disgusting but sadly people keep paying them

and thus they continue to exist.

 

 

dx

[dfms]

This one will not be paying! Hopefully this information may help you to assist others in similar situations. It really is beyond my understanding how a DCA can acquire something that really shouldn't 'exist' and how the original credit card company - Barclaycard in this case - can settle in F&F and then sell on the remaining 'written off' amount! Doesn't sound right to me!

[Bazooka Boo]

Because this is the way this incestuous corrupt, rotten to the core financial industry works.

 

Sharklaycard will have recouped their 'loss' via their insurance, then they will have made a profit on the sale of the 'debt' that didn't exist,

the debt buyer will have paid as little as 6p in the pound for the 'debt', then they will attempt to con the debtor into paying the debt, in full.

 

Which will more than cover their outlay, plus profit, and if they don't get anywhere with the debtor, they will flog it on to another buyer,

and round and round the murky world of DBSG goes....

[dfms]

I am amazed at this...how can BC and other companies do this? Surely there must be some legal right and protection for the debtor if they have, in good faith, made a settlement in F&F? Excluding SB etc?

[Bazooka Boo]

Ha NO!

 

No-one is going to reign these lot in, simply because most MP's and Politicians have a vested interest in these companies,

hence why Iceland has been jailing their corrupt bankers, and the UK has been bailing them out with our money.

[dfms]

Speechless! So am I correct in my understanding then that, IF Cabot send a copy of the credit agreement and it does indeed refer to this F&F settlement, I simply send back an SB letter?

[dx100uk]

Pes i'd ignore the ....

 

 

Dx

[dfms]

Thanks

[dfms]

I have now received a letter addressed to The Occupier.

 

 

Reads "You have advised you do not recall any previous dealings with Cabot...

Please be advised the content of your letter has been duly noted and you will no longer receive any further correspondence from Cabot in regards to this matter.

 

 

May I take this opportunity to thank you for bringing this matter to my attention and I trust I have clarified your concerns."

 

 

Reassuring but just wondering why they didn't address it to me personally instead of using The Occupier instead?

 

 

Is this a loop-hole so that they can try again another time??

[dx100uk]

knowing cabot anything is possible.

 

 

dx