Defaulted HBOS AA loan from 2004 sold to Cabot

[HSBCandMe]

HBOS Defaulted a loan in 2006. It dropped off my credit files in 2012.

 

They have now sold the debt to a DCA and HBOS have recently re-posted my credit file at Equifax wit the same loan, now marked as settled.

 

My understanding is that the account should have dropped off my credit files forever 6 years after the 2006 Default, whether settled with HBOS or not.

 

Equifax are ignoring my complaint to them. I even have copy letters from Equifax and copies of my old credit file showing the 2006 Default.

 

Where do I go from here?  Any ideas? 

 

 

 

Edited March 27, 2019 by HSBCandMe

[BankFodder]

Well what you are telling us here is pretty extraordinary behaviour by HBOS. I suggest that you begin by sending them an SAR. I think that this needs very careful verification.

[HSBCandMe]

I have an old SAR. It defaulted in 2006.

 

I do not have a copy of the Default Notice any longer but their SAR refers to the default date and lots of historic credit files I have kept. 

 

Surely my complaint is against Equifax as they handled by complaint several years ago when I fought to have the Default recorded (so that it would drop off after 6 years).

 

Why extraordinary by HBOS?

PS: It is HBOS branded as AA. If that helps.

[BankFodder]

You will need to send a new SAR. You say that the debt has recently been sold by HBOS and it is they who have recently posted your file to Equifax. Send them a new SAR. You will need to gather good information in order to deal with this.

HBOS are more likely to be liable here if they really have done this – and also, they are much easier to attack.

[fkofilee]

BTW Equifax is now free to get your Stat Credit report. Go online and grab it now FOC

Compare and use as evidence

[HSBCandMe]

48 minutes ago, fkofilee said:

BTW Equifax is now free to get your Stat Credit report. Go online and grab it now FOC

Compare and use as evidence

Yes, I have a large amount of past and current CRFs to use.

 

I have a vague recollection that I complained to the FOS about the absence of the Default and they ordered HBOS to post it.  I will have to look up my papers / check old emails.

 

I wills end a new SAR to HBOS.

[AndyOrch]

Which DCA has the debt been assigned to ? Is it appearing under HBOS or the DCAs name on  Equifax  ?

 

Andy

[HSBCandMe]

10 minutes ago, Andyorch said:

Which DCA has the debt been assigned to ? Is it appearing under HBOS or the DCAs name on  Equifax  ?

 

Andy

It appears as AA loan (so HBOS) and is marked Settled.  It was sold by HBOS to Cabot . 

 

The SAR I got a few years ago from HBOS has a screen shot stating they sent out a Default, but that's all I have (that, and years' worth of screenshots and print outs etc showing the defaulted account on  my credit files).

 

The concern is that Cabot will add their account unless something is done about the AA settled one.

[AndyOrch]

If/when Cabot do update the CRAs it will simply replace the AA entry under Cabots name....double entries are irrelevant as its the same agreement /debt but it shouldn't be entered at all as its passed its sixth anniversary.

 

First port of call is to register a notice of corrections with the CRAs and then inform either HBOS/Cabot to shift it as its over six years....settled or not its irrelevant. 

[HSBCandMe]

I see this more as Equifax's responsibility?  I have sent them copies of their own credit files from years ago, surely they can and should supress it?

[AndyOrch]

They cant without the creditors authority....they can add a notice of correction..but not remove it.

 

Shouldn't be difficult..just because the debt was assigned is not reason to re register it on the CRA,s again ..you have proof it was defaulted in 2006 (The DSAR confirms this date ?)  and it dropped off credit files in 2012 .

[HSBCandMe]

I have is a screen shot from the DSAR, not the Default letter itself which I suppose is the ultimate proof. But I do have the copy CRFs.

 

When I went on a CCCS plan AA automatically defaulted me.

Edited March 28, 2019 by HSBCandMe

[AndyOrch]

Has this been resolved ?

[HSBCandMe]

Yes, they took it off my credit file. But, I complained to and about EQUIFAX, and they unilaterally took it off when I sent them proof.

[AndyOrch]

Thanks....I thought you were referring to an attachment or editing your post.....thanks for the short conclusion 

[HSBCandMe]

1. I took out a £14,350 personal loan with the AA (HBOS) in 2004.
2. They sent it by courier for £50 fee.
3. They defaulted it in 2006 when I went on a DMP with the CCCS.
4. Default /account dropped off my credit files in 2012.
5. At the time they passed it to J&J Collections and charged me £50.
6. Have been on very low repayments since,with various DCAs. In November HBOS sold it to Cabot.
7. HBOS re-entered on my credit files but I have since had that removed, 
8. I CCA'd Cabot and stopped paying them as it took them a month + to respond,
9. Cabot have sent a copy of the original 2004 CCA. 
10. Cabot say enforceable start repaying or else a CCJ. 

 

The CCA says:-

 

CCA heading, correct name, address and date. Signed. 

Advance = £14,350

Amount of Credit = £14,350

Total Charge for credit = £3862.40

Total amount payable = £18,212.40

60 monthly repayments of £303.54

APR 9.5%

I agree to pay a courier fee of £50 "which will be added to and payable at the same time as the 1st instalment."

 

In 2015 I got a cheque from HBOS for £50 refunding a charge they applied for the J&J Collections referral. 

 

The T&Cs have no cancellation rights / clause. I gather this is not a prescribed term.

 

They did not rebate the charge for credit / interest when it defaulted in 2006.

 

I can post it up next week as a scan, but any thoughts on ss.95, 60 and 127? 

 

[Peterbard]

Yes, be good to see it.

 

1 A significant date as the format and new regulations changed in April of 2004. Should be in the "key facts" format, which became law in April of this year. You say it was signed, is this a photocopy?

 

2 If this £50 was a compulsory fee( you would not have got the loan if you had not paid it)It should be included in the total charge of credit and will affect the APR, if it is in the total credit the agreement would be unenforceable under section127(3)

 

5 Illegal fee, you should reclaim if, a fee like this would have to be prescribed within the T and Cs, it won't be.

 

8 no matter now,  but a section 77 request is only in default whilst a copy is not sent etc. once one has been supplied all sanctions are lifted.

 

10 Well, we will see.

[HSBCandMe]

Dated September, 2004. 

 

Its a photocooy of the signed original, fairly legible imo 

 

No cancellation rights or key facts that that I can see on it 

 

 I will post up on on Monday when I scan it up. 

[HSBCandMe]

Bearing in mind what I learned from my Masterloan thread here, it seems to me that Cabot have complied with my s.77 request but whether the CCA is enforceable depends on whether it contains the prescribed terms. For a post May 2004 CCA taken out remotely in the post, I gather that is just the amount of credit?   The T&Cs do not appear to have any cancellation clause / key features but I believe that is not a prescribed term anyway? Just a required one?  IE enforceable?

 

If I'm correct, then it depends on the amount of credit but, as what AA appear to have done is pre-loaded the charge for credit with the capital advance, in the same way Barclays did with my Masterloan?   When it defaulted they did not rebate or reschedule the charge but just carried on taking repayments for it.

 

Anyway, I welcome your views guys as I do not want a CCJ. If I have to start paying them on an AP so be it, but if there is any leverage for a defence to a claim by Cabot then I would prefer to fight it.

 

[Peterbard]

 

Hi, can't we just see the CA request for now,  please?

[HSBCandMe]

Surely, here it is. Am I right in thinking its of a similar type to the Masterloan one? 

CCA Sept. 2004.pdf

 

any thoughts? Enforceable / unenforceable? Go back on AP or continue to dispute?

[AndyOrch]

Signed on or off the creditors premises ?

[HSBCandMe]

off, via post

[AndyOrch]

https://www.hants.gov.uk/business/tradingstandards/consumeradvice/goodsandservices/financialservices

 

http://www.legislation.gov.uk/uksi/2004/1482/pdfs/uksi_20041482_en.pdf

 

https://www.legislation.gov.uk/ukpga/1974/39/section/66A

 

https://www.legislation.gov.uk/ukpga/1974/39/section/68

[HSBCandMe]

confused.

 

totally bamboozled. I am reading the links.

 

I'm seeing the link to the 2004 regs on cancellation rights coming into force on 31 May 2005?   I thought from my Masterloan thread cancellation rights were post April 2004?  But cancellation rights are not a prescribed term anyway ?  ie can be rectified without the protection of s.127(3)?   Hence my looking at the APR and preloaded interest / rebate point.

 

If I can dispute the amount owed that constitutes a defence?