Cabot supplied CCA from northern rock. What Next?

[Priestt]

I took out a loan for £16k from Northern Rock in 2003.

I was in trouble in less than a year and defaulted on the loan.

I agreed a reduced payment, but after about a year had to reduce my payments again, since then I have kept paying a token payment of £3 a month. 

Cabot are now dealing with the loan and have recently supplied an original signed copy of the agreement, the page below and a statement of all payments made since taking the loan.

I am still not in a position to be able to offer more than token payments.

Is there anything I can do to finally clear this debt?

 

I know there has been a lot of focus on short term loans being given when they are unaffordable, is it the same for long term loans?

 

[dx100uk]

post up the full CCA return please and the statements to one multipage pdf

read upload carefully

 

dx

 

[Priestt]

Here is the CCA I received from Cabot.

Scan_3_Feb_2020.pdf

[dx100uk]

t&C do not contain your details?

is that really the quality of the agreement?

all blurred and unreadable?

 

[Priestt]

The quality is bad but it is the original, I blacked out my details.

[dx100uk]

and I don't believe its enforceable as its not clear enough to be able to read what other set of T&C's numbers it refers too

 

now if irresponsible lending plays apart too, is another matter...

as I cant read if the loan states a reason for it, like debt consolidation etc.

 

[Priestt]

Although it is hard to read it does state that it is a consolidation loan.

[London1971]

I received a CCA Return with that level of legibility from Lowell. I wrote back  explaining that I couldn't read it and it therefore wasn't enforceable.  They closed my account and removed it from my Credit File. If you feel like it you can even Google the legislation, there is a line clearly stating that it must  be clear and easy to read.

 

It makes me so angry that it is not the law for a DCA to be  clear that making token payments keeps resetting the Statute Barred clock. 

 

Personally, I would stop paying them right now and banish any thoughts from my mind of settling with them. 

 

 

[AndyOrch]

Sec 61 CCA1974 Signing of agreement.

(1)A regulated agreement is not properly executed unless—

(a)a document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60(1) is signed in the prescribed manner both by the debtor or hirer and by or on behalf of the creditor or owner, and

(b)the document embodies all the terms of the agreement, other than implied terms, and

(c)the document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.

 

http://www.legislation.gov.uk/ukpga/1974/39/section/61

[dx100uk]

seriously good news it was a consul loan, points to irresponsible lending , have got a credit report for that period lying around have you?

 

[London1971]

1 hour ago, Andyorch said:

Sec 61 CCA1974 Signing of agreement.

(1)A regulated agreement is not properly executed unless—

(a)a document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60(1) is signed in the prescribed manner both by the debtor or hirer and by or on behalf of the creditor or owner, and

(b)the document embodies all the terms of the agreement, other than implied terms, and

(c)the document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.

 

http://www.legislation.gov.uk/ukpga/1974/39/section/61

 

Aha , I was frantically searching for that, but couldn't find it this morning.  I definitely quoted that in the letter I sent to them.  Although @dx100uk , do you think it is pointless letter tennis?

[Priestt]

Thank you all for the advice so far. I think I will write back to Cabot stating the CCA is not legible and ask for a better copy and go from there. If I was to go down to route of irresponsible lending how would I go about that?

 

21 hours ago, dx100uk said:

seriously good news it was a consul loan, points to irresponsible lending , have got a credit report for that period lying around have you?

 

I still have a lot of paperwork from that time, I will check over the weekend if I have a credit report.

[dx100uk]

pers i wouldn't start pointless letter tennis.

 

there is a very good reason NR sold this on.

and pers i don't think its because you had difficulty paying it......

 

p'haps send them NR a sar and get every shred of infor they have.

i believe in was pinnacle, but there were sevaral loans from one lotthat said words to the effect of 'we shouldn't have loaned this money' in comms logs one time.

 

 

 

[Priestt]

So even though NRAM sold this loan they should still have the original info? Should I send a SARs to Cabot as well?

Edited February 10, 2020 by Priestt

[dx100uk]

nope.

a dca debt buyer gets no info, you are simply a line in a debt buying portfolio spreadsheet that the auto threat PC spew out letters too incase you think they have magical powers and can be mugged blind.

 

look at it this way.

if NR had such a case iron case on you...why didn't they take your to court and crush you dead?

why sell the debt on for <15p=£1 to a debt buyer???

 

find the reason sar NR.

 

dx

 

[Priestt]

I have sent the sar to NR today.

 

[Priestt]

I received the SAR back today, please find attached.

 

 

 

 

sar_return.pdf

[dx100uk]

that's totally unreadable (the CCA)

 

id send northern rock or whom ever owns them now (NOT CABOT) a IRL complaint

but don't rush!!

 

dx

 

 

 

[dx100uk]

pdf already sorted

its very obv from the statement that there was never anyway you could afford to pay the loan off from the get go.

another good pointer to them knowing this is they never added any penalty fees.

that's extremely rare for nram.

 

i'd be firing off an IRL complaint to NR now.

 

 

[London1971]

FYI . I’ve had a debt (Lowell) closed and taken off my credit file for an illegible CCA in the past.

[Priestt]

Thanks.

So you think I should go back to NRAM? even though they sold the debt to Cabot.

Do you have a template for an IRL letter?

[dx100uk]

 

a debt buyer is not a creditor though for the sake of a stamp why not sent them a copy too.

 

 

[Priestt]

Does it make any difference that the loan was taken out before the fca brought about rules regarding irresponsible lending / affordability checks?

[dx100uk]

no because 10'000's have had PDL loans wiped or severally reduced, which caused the issues post rulings, it why they were designed.

[Priestt]

I sent NRAM the URL and they replied saying I have no grounds to claim irresponsible lending!