Cabot/Mortimer PAPLOC Now Claimform - old HSBC Loan - 6yr+ Default.

[KP44UK]

Hi All,

In 2011 I took out a loan with HSBC whilst at Uni.

In 2014 I unfortunately defaulted.

It went into HSBC collections and the debt now at c£5k was then sold to Cabot Financial, who have now offered 50% f&f settlement.

I have been making notional payments and the debt has fallen off my credit record last year.

Please could you help with the following please :

1. Should I take the offer up to pay the £2.5k:
2. I have read that before making a payment I should ask for a CCA, if I do will this affect the offer if Cabot produce the agreement.
3. Are mortgage lenders still able to see this past hardship once it off my credit file
4. how would yous handle this sort of scenario.
The debt is from my Uni days and trying to clean it up but the damage is done and my wife who has a clean credit file is not amused as we have saved up for a mortgage deposit.

bit of a mouthful but thanks in advance.
 

[dx100uk]

1. no!!

2.yes cca them! looks like you've been cash cowed for years and by paying all you've done is run the SB date to infinity.

3.no

4.cca ans when they fail the 12+2 working days deadline stop paying.

 

you don't need to 'clean-up' anything, once adebt is defaulted on the 6th b'day of the defaulted A/C it vanishes from your credit file, paid or not, paying or not, makes no odds, and it can never return. doesn't mean it's not owed mind. thats down to the CCA being enforceable.

 

dx

[KP44UK]

Thanks DX 

I will certainly do as advised, i just wish i came here earlier the amount would have been SB'd. I will keep the forum posted as I progress this.

[KP44UK]

Just A follow on from this, I have been contacted by Cabot saying they don't have the information I have requested and will get in touch with the original lender. they have also said they would update me in another 12 days.

What should my next course of action be?.... i.e after 12+2 days.

 

Many thanks!!

[dx100uk]

stop paying anyone that fails 12+2 working days.

 

dx

 

[KP44UK]

thanks dx as always!! ,

 

I will cancel next DD payment. 

Would there be a risk of CCJ as I have been making payments and as you may have mentioned before I have sent the SB'date to the moon. I have read something about an extra 40 day limit. 

 

 

[dx100uk]

Until or unless they find enforceable paperwork theyll go nowhere near a courtroom door and so what if they do.

 

[KP44UK]

Just an update on this, I have received a letter from the aforementioned DCA that they are processing the CCA request and that until they provide the information the account is unenforceable. Goes without saying the letter seems to have been backdated not sure it takes 6 days for a letter to arrive.

 

What should be the next steps going forward?

 

[Stigman]

Wait until you hear back from Cabot.

If they supply any paperwork, scan in, remove all your personal identifiers and upload.

Stigman

 

[KP44UK]

Thanks Stigman,

 

I will hang fire and wait for their next move.

I have been doing some research and gather that the wait can take a long time in some cases. So moving forwards at say the end of the year would I be able to apply for a mortgage without this hanging over that process.

I read on another forum someone being advised to offer 5% to get the DCA to close their pursuit.

[dx100uk]

oh what and reset the SB clock...good advice there then... thats why we don't let DCA scammers be members here unlike certain other forums...

 

if this debt and others are not on your credit file and your score is good

you can get a mortgage tomorrow

 

dx

 

[KP44UK]

Got it, thanks DX

 

I will carry on with life and let the DCA have a rummage for the CCA and make sure I upload whatever they send on here for validation. 

Cheers! I will keep you posted.

[dx100uk]

Open

[KP44UK]

Thanks DX,

Just an update on the CCA request

Cabot have come back to me with no reference to the text in the CCA request.

They have sent what looks like a statement of account.

I don't believe it meets the CCA document test.

My first thought was to not reply and await a CCA but hoping to hear other views.

 

cabot list of payments.pdf

[dx100uk]

bogroll

[KP44UK]

Thanks DX ! for calling it out as "bogroll". I will sit tight and allow them to check their drawers and files for the appropriate documents.

[KP44UK]

I have had correspondence from the DCA

they have provided what looks like a CCA and confirmed the debt is now enforceable.

what should I do now?

I know they missed their 12+2 but that does not mean anything once they provide the CCA.

[AndyOrch]

Its irrelevant once the agreement has been provided...whether its legally valid or enforceable is another matter which really only comes into play if you ever get served a court claim for the debt .

[KP44UK]

Noted thanks Andy,

I will get in touch with them and work out some kind of one off payment.

I wouldn't want it to jeopardise my mortgage application.

[AndyOrch]

If its already fell off your credit file...cant really jeopardise a mortgage application...only if they litigated successfully would a CCJ show for a further 6 years,

[dx100uk]

per i would not give them a penny. go re -read your thread from post 1

let them wriggle

don't forget they also have to abide by the pre action protocol now and send a letter of claim giving you 30 days to respond (by our guidance!!)

they havent.

you post yesterday they have said the CCA is enforceable, just to check, they've not sent anything more since that last bogroll have they?

[KP44UK]

Thanks DX,

I have checked the CCA is indeed legit. The attached is 1 of two covering letters that was attached. A real pain.

 

cabot front page cover letter.pdf

[dx100uk]

why do we want to see a rotated scamming letter?

who has said this CCA IS enforceable???

we've not seen any of it??

 

 

[KP44UK]

Hi Dx

Please see the merged file. thanks.

CCA from DCA.pdf

[dx100uk]

that is not an even agreement mildly compliant under the CCA IMHO. total pants no wonder they sold it!!  missing numerous points under prescribed terms.