First direct managed loan debt

[saintorsinner]

I think I have posted some information before on this but cant find the thread

 

I had a old credit card debt from 1996.

I defaulted in 2002 and ever since 2002 I have paid £10 per month to the company, ( no contact ever)

 

In 2013 their bank details changed and so the payments bounced back

 

In March 2014 I received a letter from Cabot stating they own the debt

 

In October 2014 I have received my statement ( it does indeed look the debt was bought in 2014) Along with a arrears letter

 

What I would like to know from esteemed gentlemen on this forum is

 

1. Can they repost this information on my credit file? ( nothing to date)
2. Will Cabot be aware that payments have only recently stopped so not statuted barred
3. They cannot default me , as I was defaulted in 2002? is this true?
4. the account was opened in 1996 , so will they have the credit agreement, ( bearing in mind it was a live account with the bank till just 8 months ago)

 

 

Thank you all in advance

[Bazooka Boo]

Sounds like your being cash cowed here, and they're all trying their luck!

 

STOP PAYING NOW.

 

Send the latest gophers a CCA request, http://www.consumeractiongroup.co.uk/forum/showthread.php?387435-CCA-Request-Consumer-Credit-Act-1974 send it 2nd class post, just obtain ''proof of posting'' which is free from the PO counter.

 

Keep an eye on your credit files, yes they 'shouldn't mark it now as the default has auto dropped off, however, don't be surprised if they do.

 

Add up the amount you have paid already...

[theoldrouge]

who was the card account originally with?

[saintorsinner]

It was HSBC , and I have stopped paying nearly a year ago

[saintorsinner]

I have paid £1500 over 12 years

[saintorsinner]

Oh don't get me wrong this was the only one I paid , since my breakdown in 2002

 

 

The rest over the years have come and gone and not got a penny, for me total silence worked, once I new it was statued barred it was a confort

[theoldrouge]

1. Can they repost this information on my credit file? ( nothing to date) NO
   
2. Will Cabot be aware that payments have only recently stopped so not statuted barred THEY CAN OBTAIN THIS INFO
   
3. They cannot default me , as I was defaulted in 2002? is this true? TRUE THEY CANNOT
   
4. the account was opened in 1996 , so will they have the credit agreement, HIGHLY UNLIKELY
    
   if you receive any type of threatening letter then send a cca request
   

[saintorsinner]

Thank you very much "Old Rouge"

so the debt will be in difficult to enforce?

 

 

Thanks very much .

 

 

I have the letter ready and waiting to send. I think they will try and default which obvs they cannot

[theoldrouge]

yes unable to enforce without a reply that complies with s78(1)cca1974

 

here is the fca guidance for you

 

http://fshandbook.info/FS/html/FCA/CONC/13/1

[dx100uk]

cash cowed!!

 

 

get that CCA off

 

 

might be an idea to SAR HSBC too

 

 

what type of debt was it?

 

 

dx

[saintorsinner]

credit card.

 

 

Just reading the FCA guidance now

 

 

(1) The copy of the executed agreement should be a 'true copy' of the original. However, as confirmed in the case of Carey v HSBC Bank plc [2009] EWHC 3417 (QB), in this context the term 'true copy' does not necessarily mean a carbon, photocopy, microfiche copy or other exact copy of the signed agreement. There is no obligation to provide a copy which includes a copy of the signature.

 

 

(2) The firm can reconstitute a copy. It can do this by re-populating a template of the relevant agreement form with the details of the specific agreement taken from its records. If the firm does provide a reconstituted copy, it should explain that that is what it has done, to avoid misleading the customer that this is a contemporaneous copy.

 

 

So if they don't find the agreement , the debt is still enforceable ?

[dx100uk]

they'll need the signed agreement for one of that age.

 

 

no chance.

 

 

dx

[saintorsinner]

thanks , I have been looking at the case law to see if any DCA have challenged without a original agreement when the debt is 18 yrs old

[renegadeimp]

Plenty have tried. AFAIK, none have succeeded. The laws there for a reason. Remember. They are a DCA. Not the OC. They may have bought rights and obligations to the debt, but it is unlikely any paperwork exists. Plus its cabot. 99% of the time they dont have any paperwork for the debt and rely on people slack of knowledge to get them to pay.

[saintorsinner]

cheers for the advice , I am going to sit on this and make it difficult as possible

[renegadeimp]

Send that CCA off and see what ( if anything) comes back. If cabot dont have the paperwork and they know its a bad debt, theyll try and say they have the account on hold for a while. Normally 30-40 days, even though CCA timeframe is 12+2

[saintorsinner]

Hi All

 

In 2002 i defaulted a lot of debt , HSBC etc and most of which i never repaid.

 

Now 16 yrs on , I am back on my feet have a good credit rating during this time , I avoided HSBC due to the "debt"

 

My question do bank holds personal black lists of customers from year dot that havent repaid . Or once you have defaulted sold the debt on etc thats it

 

I know barclaycard accepted me , and that was 16 years on ,

 

I applied for a M&S current account and realised after it was subsidiary of HSBC . What does the esteemed group think ?

[fkofilee]

I believe they do. But its so,long on....

 

They only keep info for 6 years

[saintorsinner]

I did a data subject access on a debt from cabot last year , HSBC credit card was sold on and the loan CCJ is still being paid 14 years on.

 

I guess does M&S bank access group HSBC records? it would be interesting to see what the decline letter looks like LOL

[Bazooka Boo]

I left Halifax in 2007 owing circa 50k.

 

I now bank with them, and have been for over 12 months now.

[saintorsinner]

Thats good news Bazooka , did you pay anything during that time?

[Bazooka Boo]

Thats good news Bazooka , did you pay anything during that time?

 

No, the story goes, albeit heavily redacted, that I asked them for assistance when I knew I was going to be made permanently unemployed due to disability.

 

One of their 'Financial advisors' advised, that I could take out another unsecured loan of 25k, to pay off the previous loan I had with them (unsecured) and to part pay off my 'gold' credit card with them (iro 20k).

 

So I said, ''Oh so I take out the payment protection insurance, and then when I'm unemployed, I claim off that to pay the loan?''

'No, you can't do that as you already know you'll be being made unemployed'

 

So what exactly is your helpful advice in this matter then??

 

So once i was made unemployed, with no possibility of ever returning to the workplace, Halifax turned the thumb screws, even though I had informed them month prior to my redundancy that I wouldn't be able to service these accounts, they said 'can a friend or family member help you pay?'.

 

It was at this point, I left them, and left them to get on with things, they sent the usual bluff and begging missives, I toyed around with them for a while, baiting them when i got bored, but all in all, never paid a penny, it went through tens of DCA's all with the same standard threat templates, even trying to threaten my mother by harassing her with deforestation, which was met with a call from the local constabulary informing them that if they continued they would be committing a criminal offence of harassment, and lo and behold, nothing further.

 

Now I bank back with the Halifax, and have been for a while now.

[maroondevo52]

I was with Barclaycard years ago, defaulted then issued a court claim for charges, they paid in full and offset the returned charges to close the account.

I have a Barclaycard now.

[Bazooka Boo]

Sharklaycard MD, sharklay card!

[martin2006]

nope, i have it in black and white they dont keep info older than 6 yrs, well that was in response to a SAR!!