Santander overdraft debt sold to Cabot **Resolved Statute Barred**

[Gwolst77]

Just received a letter from Santander stating my overdraft has been sold to Cabot

 

The letter states that Notice of Assignment will be forthcoming from Cabot

 

In the same envelope was a welcome letter from Cabot stating the usual things about 'how my experience Cabot will be different' blah, blah, blah.

 

The account was setup in 2005 and the overdraft is approx £5400

 

The last payments to the account I am aware off would have been Jan/Feb 2013

 

Not sure what the process is regarding overdrafts and what documentation is required etc to prove in court, so if it's a different ball game compared to a typical credit card or catalog debt then I would really appreciate the heads up regarding what to expect now.

[dx100uk]

tell us a bit more of the history please

 

 

when did you open the account.

how much of this might be OD fees etc that you don't owe

 

 

how much is owed

[Gwolst77]

Balance is just over £5400

 

The account was opened April 2006 and the overdraft was made available when I opened the account, I think the OD limit was £5000 to match the bank account I was leaving (can't really remember it was defo greater than £2000)

 

The last money credited to the account I know off was early 2013 (around Jan/Feb)

 

In terms of fees etc, the balance that I remember the overdraft was around when I stopped using it and the final balance that has been sold on it's probably around the £500 - £750 mark.

[dx100uk]

I think id be sending satans bank an sar get all the statements

has it always been a satans bank account or was it abbey or something else

[Gwolst77]

Hi

 

Will do the SAR, not had any letters directly yet form Cabot but they have phoned me on my mobile and sent a text.

 

God know's how they got my number, as nobody has it and I don't give it out.

 

Can somebody though give me some advice on the likelihood that the OD debt is enforceable?

 

the balance would have been settled but I can't risk Cabot then defaulting against me or getting a CCJ.

 

In some respects I always though I would have to pay this one eventually as I was under the impression OD's are different to typical credit card/catalogue debts,

might try to go down a settlement route if I can get a discount.

 

Most of our bad debt is SB next July/August and those who have tried to issue a claim have so far failed as all agreements are pre 2007 and we know they never have the paper work to back them up.

 

By spring 2019 all bad credit references will be off my profile so I can then look to start buying a house (which gives us time to start saving a small deposit).

[dx100uk]

Await the sar

[Bazooka Boo]

Any text messages they send you simply forward them to 7726 (spam on your phones keypad)

 

As for applying for a mortgage, you'll need more than a clean CRF, it'll need to have been clean for at least 12 months prior, if not more.

[Gwolst77]

Hi.

 

I have an alleged debt for an overdraft that was sold off to Cabot a few years back, the debt according to my account statements (I did a SAR) was SB in at the beginning of this year and the default drops off at the end of this year.

 

Did all the usual things like ignoring the fishing letters and the odd call.

However today I got a unexpected call from a landline and answered it thinking it was somebody else, it was Cabot want to speak blah, blah, blah.

 

I asked what it was in connection with (knowing what it was actually about) and ended up telling them even if they could prove the ALLEGED debt was mine it would be SB anyway. I was told they had a payment in 2014 showing so it was not SB.

 

I know this was false, as I have a full statement showing the last credit was on the account and the account was closed 2013.

So stated it was SB again and if they thought that they had a legitimate claim against me then ultimately then need to prove it and take me to court.

 

I've double checked the SAR again (every page and its a big pile going back over a decade) and all looked fine until I came across a few screen dumps/shots from a computer system (so not the typical statements you would see) but print off's from a dumb terminal system showing a single payment of nearly £400's that I have no knowledge of mid 2014.

 

It just shows a credit of £XXX.

I've also found a two internal email/system print offs showing a recall request from a bank was received and a refund cheque was issued just a few months later (which was cashed).

 

The balance they are chasing, is for the sum after the refund back to the bank was issued (so the original sum)

 

Where do I stand as in summary?

 

• Overdraft was taken out back in 2006
• SB was early 2013 - So well over 6 years ago
• Account Closed later 2013 (when default was issued) - Just a few months and it drops off
• Some unknown random payment was paid in mid 2014, outstanding balance was reduced and then that payment was refunded a few months later. The outstanding balance was increased back to the original sum, which is the sum Cabot are chasing.
• All my proper account type statements only show data until late 2013 when the account was closed, the only record of this payment and refund comes from screen dumps and print outs from internal systems mid 2014.

 

 

 

[dx100uk]

old and new threads merged for history

 

internal mumbo jumbo by satans bank

it was not YOU that did this.

 

whats the defaulted date you mention please?

 

dx

 

[Gwolst77]

Thanks DX

 

Default date is 11th November 2013 (when the account was closed)

[dx100uk]

so I would assume that your last payment or use was many months before this

so there is argument there that the OC took xxx mts to default you?

 

 

[Gwolst77]

Last payment on the account was mid March 2013, so yes about 9 months till they defaulted and closed the account. 

 

For a good 4 months before that, the account was in serious arrears with just little sums of money going in sporadically but they kept on racking up the OD charges each month which far out weighed any credits anyway.

Edited July 15, 2019 by Gwolst77

[dx100uk]

I will gather they have your correct address??

if so wait for/if they get a solicitor to issue a PAP letter of claim now.

 

 

[Gwolst77]

Hi all

 

Update, so they still have not provided any statements/documents etc regarding the account (I have the original SAR though) and since the beginning of October I have received a letter stating that they believe the debit is not SB because a payment of £340 was made April/May 2014 (this is credit and refund mentioned earlier in the thread). They have so far not received the statements etc from the bank but will forward them on due course, but if I should contact them to arrange a payment plan.

 

I have since had a offer of a 50% settlement and then last week a 75% settlement. My view is that they are just hoping I will bite and pay them something but that is not going to happen, I have not communicated to them since that single telephone conversation back in July.

 

The one thing I have noticed when I use Check My File is that the account status was changed November 7th to Query at Equifax, even though the default expired on November 4th so it should have disappeared by now. The original Satans Bank default was removed on time, but the Cabot account reference is still there albeit not negatively impacting my score it just has a status of 'Q' against November and the balance showing. There is no history showing before November it almost looks like a new account was setup with a Query status against it.

 

Does anybody have any idea of what is going on here? The cynical side of my is thinking they are forcing me to get in touch with them in writing about the account before their incorrectly perceived April/May SB date passes. I know Equifax does take longer for updates compared to the others agencies and in a few weeks it may be gone.

 

I'm just wondering what peoples views are, personally my credit score is almost in the excellent bracket and I'm not planning to get any credit soon so it makes no difference to me for now.

[dx100uk]

sb date and the fact the default has reached 6yrs are not related.

 

[Gwolst77]

Yes I understand that, my point is why is the account still be reported on 6 years after the default date has passed regardless of the SB date.

 

The default expired 4th November, Cabot put a query on the account the 7th November so it is still showing in my history, my question is why are they doing it?

 

 

 

 

[dx100uk]

it sometimes takes a good while for all related entries to be removed.

 

dx

[London1971]

Begging letters because they know the account is Statute Barred, therefore unenforceable.  That's why they likely won't pursue anymore than the occasional letter.  Nevertheless be on the lookout for a PAP letter, but I don't think it will ever arrive.

 

 

 

[Gwolst77]

Hi everyone.

 

now it looks like the war is finally over and I won all the various small battles,

thanks to everybody who has given advice and a donation is on the way as you are all stars for what you do.

 

Just one thing outstanding,

how do I go about removing the Account Query Cabot have left on my account from last year as its still there?

 

The debt was statue barred 13th March 2019, but they insisted that it was 20th May 2020 due to the 'unknown payment' hitting my account that was recalled/refunded back to the account that had made the payment a month later.

 

Based on the advice I received here I said prove it (and as expected) and nothing actually happened regardless of demands or offers being made by them.

 

I've just left things as they are as the account query is not negatively impact my credit record/score, and I saw no point engaging until well after the 20th May. However I will be hopefully mortgage hunting in August/September, I do want this account query to be removed by then. 

 

Seeing that they have never established that I am liable for the balance and also that the default expired last November. (So there should be no trace of this account in my credit history).

 

Attached are a screen shot from Check my File (it's also on Clear Score) and also a picture of the last letter from Cabot specifically regarding this matter.

 

As you can see the account Query was placed in May even though I did not have any contact with them until July and last update was November (which is when the default expired). So I have a new entry on my credit report for an expired defaulted balance/account that expired last November and from my understanding if I do nothing this will be there for another 5 years.

 

The last contact I have had with them regarding this was 25th October (letter attached) but I have received the usual 75% balance discount offer letters in November 2019 and March 2020.

 

Would I be right in assuming there is a template letter I can use to complain to them and also next steps if they don't promptly remove the account within a reasonable time period?

 

Thanks again!

 

[dx100uk]

cant harm you