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HSBC CCJ sold to Cabot


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Hi,

 

I am looking for some concrete advice please on where I stand with a debt that's hanging over me.

 

The debt is for around £9k and was originally a HSBC credit card.

I received a CCJ toward the end of 2013, along with a Charging Order against my property, which I unfortunately didn't contest.

 

As I am self-employed and have children, there has been no enforcement action that the courts would take against me, so I have never paid anything toward the debt, or acknowledge it. HSBC gave up earlier this year and have sold the debt to Cabot.

 

I have read a number of threads on this forum and others which contain a lot of conflicting information.

 

So I guess my questions are:

 

1. Can I get the Charging Order removed on the basis HSBC no longer have an interested in the debt, or have Cabot effectively taken ownership of both?

 

2. Am I right in thinking Cabot have no enforcement options whatsoever unless they get the CCJ and CO re-assigned officially in the court?

 

3. Will Cabot likely affect a low F&F settlement to see the back of this debt, or do they usually hang on for the long run?

 

4. I believe there are probably at least 1-2k worth of charges and interest added to this credit card, can I pursue HSBC for them, and if they are awarded, can HSBC withhold it against the original debt?

 

Thanks in advance.

 

JD

Edited by dx100uk
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A couple more questions sorry chaps.

 

1. If I decide to sell my property now, I assume I will be liable for the full amount to the HSBC Charging Order unless I get an F&F with Cabot and get a certificate of satisfaction?

2. Do I still owe HSBC anything if Cabot have now bought it?

 

Many thanks

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I doubt HSBC got the CCJ rather cabot

look on your deeds

 

if this is a jointly owned home but a debt in your name

it aint going nowhere even if you sell as it will be a restriction k.

 

to answer your questions

all are mostly NO

bar the last one

you might get the charges back and the interest they cause but it wont come off the debt

it will gotto your pocket if you succeed.

 

so who's name is on the deeds bet it cabots already

its very rare for a bank to do court.

 

dx

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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Thanks dx.

So I am just going to have to just pay up by the looks of it then? :-/ Very frustrating - wish I had defended it at the time - bad mental health at the time though...

 

I really do believe it was HSBC who took me to court back then,

I am going to ring the court tomorrow to find out.

I have obtained the deeds to my property which shows the CO is registered in HSBC's name.

Does this have any impact?

 

(XX.2014) Equitable charge created by an interim charging order of

the King's Lynn County Court dated XX XX 2014 in favour of HSBC

Bank Plc (Court Reference XXXXXXXX).

Edited by JohnDoh
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So I guess my questions are:

 

1. Can I get the Charging Order removed on the basis HSBC no longer have an interested in the debt, or have Cabot effectively taken ownership of both? CAbot are now the owners

 

2. Am I right in thinking Cabot have no enforcement options whatsoever unless they get the CCJ and CO re-assigned officially in the court? Correct but its a simple application

3. Will Cabot likely affect a low F&F settlement to see the back of this debt, or do they usually hang on for the long run? Test the water see if they are interested

 

4. I believe there are probably at least 1-2k worth of charges and interest added to this credit card, can I pursue HSBC for them, Yes and if they are awarded, can HSBC withhold it against the original debt? No as its been assigned

 

5. If I decide to sell my property now, I assume I will be liable for the full amount to the HSBC Charging Order unless I get an F&F with Cabot and get a certificate of satisfaction? Correct

 

6. Do I still owe HSBC anything if Cabot have now bought it? No

 

Andy

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Check the charging order. If cabot have it, its usually a restriction K. If this is the case, dont contact them.

 

Be careful with cabot. They dont enforce legit debts. Or ive never seen a case where they have, but they are extremely greedy and if they smell youre willing to give money, they will try and push more out of you.

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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I doubt HSBC got the CCJ rather cabot

look on your deeds

 

if this is a jointly owned home but a debt in your name

it aint going nowhere even if you sell as it will be a restriction k.

 

to answer your questions

all are mostly NO

bar the last one

you might get the charges back and the interest they cause but it wont come off the debt

it will gotto your pocket if you succeed.

 

so who's name is on the deeds bet it cabots already

its very rare for a bank to do court.

 

dx

 

Unfortunately the home is in my sole name, so looks like I'm going to have to try and make a settlement or somehow work these figures into my plans to get rid of the property... bit of a nightmare but hey ho!

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Check the charging order. If cabot have it, its usually a restriction K. If this is the case, dont contact them.

 

Be careful with cabot. They dont enforce legit debts. Or ive never seen a case where they have, but they are extremely greedy and if they smell youre willing to give money, they will try and push more out of you.

 

Thank you for the advice. I believe it's a charge as the house is in my sole name, I have pasted the entry from the Title Register below. Does this confirm my thinking? Is there anywhere else I should check the CO?

This debt was 2007 so originally unenforceable I believe, but with the CCJ and CO in place, I think I'm screwed and going to have to pay them.

 

As I want to sell the property, I have no way around this now, right?

 

(XX2014) Equitable charge created by an interim charging order of

the King's Lynn County Court dated XXX 2014 in favour of HSBC

Bank Plc (Court Reference XXXXX).

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I get the feeling I'm spamming the thread, so apologies if I'm making it confusing.

 

Another question based on something I just read. I read a Charging Order enables interest to be charged at 8% per annum. If I sell, am I going to get hit with 5 years of 8% per annum? The most recent letter from Cabot still references the original CCJ debt amount.

 

Grateful for your input.

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I get the feeling I'm spamming the thread, so apologies if I'm making it confusing.

 

Another question based on something I just read. I read a Charging Order enables interest to be charged at 8% per annum. If I sell, am I going to get hit with 5 years of 8% per annum? The most recent letter from Cabot still references the original CCJ debt amount.

 

Grateful for your input.

 

No the Judgment attains statuary section 69 interest at 8 %..up until judgment date or sooner payment (depends how its worded in your particulars if it is in your particulars if not then no interest can be charged ) not the charge...the charge simply secures the judgment.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHER

 

Have we helped you ...?         Please Donate button to the Consumer Action Group - The National Consumer Service

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