Cahoot help please

[Fishol]

I had a flexible load with Cahoot from 2002. I lost my business in 2007 and stopped payments soon after. They never contacted me about the missed payments or sent a default notice. Obviously I'm not that naive to think that the account would just go away but I've only just got back into a proper job after 3 years.

They did however sell the debt to Crapquest who are now hounding me for payment, they have managed to produce a CCA 70 days after I requested it. But I have not seen a deed of assignment.

Should Abbey/Cahoot have issued a default notice with the FOS guidelines before selling the debt on and if they didn't is it unenforceable or lawful for Capquest to chase it?

[Angelic]

Re: Cahoot help please

Hi Fishol,

Welcome to AAD! ;Hi1

Here's an extract taken from this thread - viewtopic.php?f=55&t=38

''A Default notice is a record placed on your credit file by lenders (creditors) stating that you have been in default in some way. Usually these are issued when a credit account becomes in arrears, due to non payment of specified agreement, or the minimum monthly repayment. They must be issued by the lender if it wishes to enforce a regulated agreement under the Consumer Credit Act 1974 where the borrower is in default. It has to set out the nature of the breach of the terms of the contract and how (and by when) this can be remedied by the borrower.''

I'm not too sure if that answers your question or not but that (to me!) says they should have issued you with a default notice but someone with more knowledge will be along to [size=5]correct me[/s] help you soon! 2

[Fishol]

Re: Cahoot help please

Thanks Angelic,

I really need to know whether this makes the Capquest claim uneforceable, I'm really not looking forward to taking these people on due to their reputation and would like to have something irrefutable.

I am going to send and account in dispute letter and state this as one of the main reasons.

[Angelic]

Re: Cahoot help please

Hiya,

I'll send the boss man your way when he's back on later, he'll definitely be able to help 2

[Never-In-Doubt]

Re: Cahoot help please

I had a flexible load with Cahoot from 2002. I lost my business in 2007 and stopped payments soon after. They never contacted me about the missed payments or sent a default notice. Obviously I'm not that naive to think that the account would just go away but I've only just got back into a proper job after 3 years.

They did however sell the debt to Crapquest who are now hounding me for payment, they have managed to produce a CCA 70 days after I requested it. But I have not seen a deed of assignment.

Should Abbey/Cahoot have issued a default notice with the FOS guidelines before selling the debt on and if they didn't is it unenforceable or lawful for Capquest to chase it?

Can you send me the agreement to look over? That's the first step. flexible loans are rarely enforceable cos they are like an overdraft (unregulated) but set up like a personal loan. Basically they are always flawed....

Stop stressing, what was the default date?

[Fishol]

Re: Cahoot help please

Do you want me to PM you the scanned CCA? I defaulted on this account in 08/2007, after they kept putting up the payment. They hiked interest on the account from 6% to 14% and finally 19%, they also moved the minimum payment from 1.75% to 3%. I just couldn't keep up and then when my income dried up I had one choice a roof over my head and food or pay this. Obviously it was an easy choice.

[Angelic]

Re: Cahoot help please

Hi Fishol,

If you would like to send a scanned CCA to Niddy, you can send it to this email address never-in-doubt@live.co.uk

Please put your username as the subject.

[Fishol]

Re: Cahoot help please

Hi Angelic,

Did send off the docs, any ideas how long Niddy takes to respond? I know he must be inundated but getting a little nervous.

I have tons of paperwork over this, are there any reputable debt advice companies that could look at the unenforcabilty aspect of this by sifting through the papers.

What should a notice of default look like as I do have letter from Cahoot way back in 2008 stating that it is a notice of intention to register a default, but surely that isnt an official default notice as it doesn't seem to use all the prescribed terms and doesn't detail any way to correct the situation or give any remedial action. I never received anything else stating it was in default

I've also noticed they sent out a notice of arrears on 10/7/09 but the next letter 7 days later says they sold the account by way of assignment on 3/7/09 to Capquest which is before the notice of arrears????

Very confused!

[Angelic]

Re: Cahoot help please

Hi Fishol,

Try not to get nervous - you're in good hands!

Niddy might take a day or 2 to get back to you but he will get back to you so don't panic!

[Never-In-Doubt]

Re: Cahoot help please

Hiya

Ok, i've received and checked the agreement which is like most other similar style loans, i.e. it is what they call a flexible loan and only santander/M&S usually offer these. As they are half overdraft and half loan they shouldn't really comply with the CCA and I do not confess to being an expert on this type of agreement so in the main you should treat it as unenforceable, ignore them and wait 3 years for the default to drop off - whether paid or not, the default will go after 6yrs.

As for the legitimacy of the default, they do not have to physically prove (or resend) these documents to you, they can say we sent a default notice which does comply with guidance. You can obtain a copy by sending a SAR to the lender, who will then send a copy of whatever they hold about you, including all paperwork sent/received.....

The agreement itself is enforceable in so much as the terms and signature are linked to the application but it is the type of account that makes this interesting cos it is not a fixed sum (s.79) nor is it revolving credit (s.78) thus leaving us in a quandry......

I would just ignore / blag it as being unenforceable and stop writing to them. Just update us as and when you get anything further sent to you. As for the default notice, it will stay for 6yrs - no matter what.

Regards to the delay, you must realise I run the whole forum plus update each and every diary and question relating to UE so please bear with me, nothing is that urgent - not even court papers (believe it or not) - they always hit you with deadlines, so what - they cannot do anything without the original lawful agreement. Just learn to be patient please - I am extremely in demand as a result of UE and I dedicate 2 days a week to sorting the diaries out.

[Fishol]

Re: Cahoot help please

Hey niddy

I've sent you my latest letter from Capquest it should be in your inbox. They're basically saying that as far as they're concerned they've supplied everything they're obliged to under CCA 1974 and the matter is now going to collections

I'm going to get my Experian report to see what's out there but I'm having a hell of a time as it's difficult obtaining a credit report when you've been out the country for five years

Please look at the letter and suggest next steps if you will

[Never-In-Doubt]

Re: Cahoot help please

Hiya

as per my last post, you need to ignore this. You're arguing a lot cause, sorry - the default will stay for 6 years wether paid or not. Also, they were not breaking any laws by not sending a copy of assignment, they are breaking regulations; however this does not affect enforceability it only affects any possible ccj they apply for.

I suggest you read my last post and act as suggested.