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Bank has sold current loan to Cabot?


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Hi

My ex partner and I had a joint loan for £3000,

when we split up she decided to reduce our payments which were below the required amount.

 

 

The Clydesdale Bank agreed this.

I have always paid my share,

 

 

I have just recently found out she stopped paying,

then restarted but paying less than we had agreed.

 

 

I have just had a letter from a company called Cabot saying they are now responsible for the debt.

They are being all nice saying they are happy for me to continue paying the agreed amount and I should set up a direct debit to them.

 

 

read a lot of stuff on here I am sure they won't continue to be 'nice' I have already had 4 letters in 5 days!

 

 

Where do I stand,

I can't afford to pay more,

I would prefer to keep dealing with the Clydesdale but this now seems impossible.

 

 

Any advice would be helpful. Thank you

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if cabot have it

that means the bsnk has sold it on and written the balance off.

 

 

I wold send cabot a CCA request.

 

 

when did you take this out please?

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi dx, thank you for replying.

 

 

The loan was taken out in 2014 for just over £3000.

 

 

The letter from the Clydesdale does in fact state they have transferred ownership to Cabot.

I have never intended to not pay and have been dutifully paying Clydesdale my half of the agreed amount.

 

 

My credit rating has obviously taken a nosedive but unfortunately having been left with a load of my ex's debt I have been in no position to repay the original repayment amount.

 

 

I can't figure why the Clydesdale would sell it, and how do I find out if they are chasing my ex too?

Interestingly, Cabots figure of outstanding amount is less than the Clydesdale (only by a couple of hundred).

 

Should I start paying Cabot the amount I agreed with the Bank and is it ok for me to cancel the S/O i was paying the Clydesdale with? I am grateful for your help.

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Send the CCA request to cabot as advised and cancel the S/O to Clydesdale, they no longer own the debt and shouldnt expect payment.

Cabot wont care which one of you is paying as long as the paymemts are made, the CCA request, if nothing else, will buy you a little time until they produce the agreement and maybe alot of time if they dont!

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  • 1 month later...

Hi DX

I sent the CCA request as you advised

 

Cabot replied really quickly stating they couldn't find my account using the reference number I supplied (I took it from their original letter).

 

I re submitted the request with a photocopy of their original letter and suggested that they were using delaying tactics as they didn't have the appropriate paperwork.

 

12 working days have passed (plus I allowed 3 days for the post!) and I've heard nothing.

 

What do I do next?

 

Interestingly when they wrote back to me it came from a different address but I have sent both my letters to the address on their original correspondence.

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You do nothing

Until/unless they reply with a signed enforceable agreement

Its a lemon they've bought...tough!!

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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you do realised a dca is NOT A BAILIFF?

they have NO SUCH LEGAL POWERS

 

 

and can do NOTHING to you bar threaten.

that's all they can do.

bar ofcourse the same you or I can do

if we think someone owes us money

that's make a court claim.

 

 

end off!

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 2 weeks later...

Hi DX

Sorry, me again!

 

I have had another demand from Cabot (nice touch for Christmas), asking for a ridiculous amount of 'arrears'.

 

They have still not made any mention of my CCA request

(I'm presuming their answer would be they never received the second request?).

 

I didn't send it recorded but have proof of posting,

 

should I write back referring them to my request?

 

They sent back the first request and postal order saying they couldn't trace the account.

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as post 7

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

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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