Help with Cabot please

[DebtMagnet]

Hi all, I'm new here although used to read Niddy's threads on the green top all the time.

I am in a DMP since 2010 when the cash finally ran out and most creditors defaulted me. Longer term plan is to come up with F+F in the next couple years and finally get out of this debt hole I have been in for probably 20 years.

However, I have a £10k or so debt with Barclaycard. They froze interest and agreed to the DMP with Payplan. Late in 2011 they sold the debt to Cabot who said as long as I paid the same amount they would record status 0 from there on in. I now realise that Barclaycard probably didn't default the account. I've checked on Noddle but it doesn't show, just Cabot from late 2011.

In mid 2012 I had to reduce payments for a number of reasons and all creditors said they accepted the new amount. Cabot though keep sending me arrears letters and I now note that I have a load of late payment markers on my credit report. They are threatening to default me. Payplan says to ignore and that they have accepted the offer.

2 problems.

1. If they didn't default me back in 2010, this account is not going to fall off in 2016 is it? If they default me today does that mean I have to wait until 2019 for it to fall off? Can I force them to date the default back when I got into problems with Barclaycard? I've been trying to take responsibility for my debts. Surely this isn't fair?

2. The card account is old. Probably opened around 2001/2002. Same as most of my accounts. Is it likely to be unenforcable? If I CCA them will they automatically default me?

I'm so sick of this now. Yes I was silly but so were they. They've had tens of thousands out of me over the years and THEY have been bailed out by us (including me) for their mistakes.

[Never-In-Doubt]

Re: Help with Cabot please

Hi

Ok first, are you saying the DCA has added a new default? If so then raise a dispute with the CRA's and let them know its a duplicate based on the original default by barclaycard dated xx/xx/xxxx

Second, if your default is a few years old; forget the new duplicated one, then going for UE changes nothing as you can only get one default per account so the original default, whenever that was, stands and thus you add 6 years on this date till its gone forever from all credit reports.

[Never-In-Doubt]

Re: Help with Cabot please

p.s Barclays won't have the agreement they rarely do. Read some UE diaries for recent examples.

I'd go for UE - 100%

[DebtMagnet]

Re: Help with Cabot please

Thanks, problem is I don't think Barc did default me. I can't find the notice and I was in a world of stress at the time so kind of ignored everything and let all the letters and calls wash over me. Getting to the point of making a monthly payment with no interest was great. Now I realise that they may not have defaulted me.

As I say Noddle doesn't show the old Barclaycard account (also doesn't show an Apex one either). Do you know if I can find out if the account was defaulted back in 2010?

One thing with stirring all this up is that I have a house with equity in it. If I could I we re-mortgage but that ship has obviously sailed.

Shouldn't they have defaulted me when I originally got into problems. I didn't pay them anything for months.

[DebtMagnet]

Re: Help with Cabot please

Found the closed Barclaycard account on Noddle. No default recorded. Account opened in 1996.

[MrsD]

Re: Help with Cabot please

Debtmagnet, please read up on UE and what exactly it means. to be honest it's madness to keep on paying a DMP if you have prospect of becoming debt free anytime soon. They should have defaulted you within six months of the original default but that original default will have been replaced by the Cabot one but they should have kept the original date. You can only default an account once.

as I said read up on UE, there is a lot to learn there.

[DebtMagnet]

Re: Help with Cabot please

But I don't think the original account was defaulted. I don't think it's ever been defaulted as in having a default slapped notice slapped on the credit file.

Or do you mean they should have defaulted me officially within 6 months of the initial payment failures?

PS: I have been reading a lot on here tonight but it's a lot for my tiny mind to cope with in one go! I suppose I have found a cosy place just plodding along with my DMP payments, safe in the knowledge that after 6 years I can turn up the heat. I'm not really sure I want to inflame the situation again, it's pretty scary when you have 3 young kids, a business and a mortgage and are just turning things around for the better. More reading required.

[Undercover Elsa]

Re: Help with Cabot please

Hi Debtmagnet,
It can be daunting at first but keep reading until you're more familiar with the way things work.

One way to establish whether BC defaulted you without causing any waves with Cabot is to send a Subject Access Request direct to BC for all the data they hold on you. This should include details of if/when you were defaulted.

There's more to being defaulted than marking your credit file. This is not to be confused with a formal default for purposes of complying with the Consumer Credit Act. This happens (or should) shortly after you cease contractual payments and requires them to send you a Default Notice under s87 of the above act.
A SAR should reveal when/if they did this. That would be your default date if unremedied, not some mythical date conjured up by Cabot.

In your circumstances I would definitely send a CCA request to Cabot too, but you need to familiarize yourself with the process first till you're happy with it.

Elsa x

[DebtMagnet]

Re: Help with Cabot please

Thanks, I will do the SAR first. I think I need to establish that initially and make sure there is an appropriate default date marked on my credit report so that they all drop off in 2016 or so. I think once I have done that, I will investigate UE and CCA's etc. as I'm pretty sure most of my accounts will be unenforcable.

At the moment my credit report for Barclaycard shows a string of green dots followed by 1 2 3 in orange and then 4 5 6 in red and after that just red 6's. All the other accounts show red D's after the first 6.

I guess they think if they don't default you they can just keep trashing your report for many years to come.

[ken100464]

Re: Help with Cabot please

Another red 6/AP marker.

One or two threads about on this.

Basically they shouldnt be using this instead of a default. Thats naughty.

We had one where we first complained to the DCA who did diddly squat, so we escalated to the ICO quoting ICO guidelines on defaults.

This was copied to the DCA who after what probably was a phonecall from the ICO (will never know no one ever told us) prompty started to grovel offered us compensation and defaulted us when the account was sold.

This has knocked 3 years off our clear CRA date so was well worthwhile in stamps and post.

Sale to a DCA is one of the pointers of a default needing to be registered as in the ICO's view the contract has to have broken down for it to be sold.

So if BC and Cabot are correct and it was sold then you have what in the ICO's view is a breakdown.

A SAR is very worthwhile on these sort of things as coms logs let out all sorts of secrets once you can decipher them.

Good luck

[julian]

Re: Help with Cabot please

Not sure how or if this will help. It shows my experience of Cabot.

I had an account from 1990s with a credit card provider. I was happy with them and their service. Then it was sold off to another provider and another and another. During that time the conditions changed and interest rose steeply but the benefits were withdrawn.

Just when I fell off the financial cliff it went over to Barclaycard. They ignored all attempts to assist and sold it very quickly to Cabot who were pigs. They started a court claim in record time, which I defended. They withdrew from court claim without declaring why, but they still appear on my credit file.

Did they just chance their arm and withdraw when they saw no documentation? (didn't SAR or CCA request as I was naive) Or do they as a matter of course raise court claims on everybody and hope there is no defence? I will never know and I don't intend to ask them.

[ken100464]

Re: Help with Cabot please

I think there is some profiling going on of sorts.

Not nice profiling but profiling where they are looking at the client to see how likely there are to be turned over if they go the court route.

They want easy prey.

If you are a blubbering quivering mess trying to pay down a creditcard at the expense of food,roof,water etc there is a pretty good chance you are in such a state you would do anything up to and including accepting the securing of the debt.

This is a win win case as we pay for them to secure it (should they win) and then the debt becomes more valuable both to the OC and eventually when they grow bored of us to another DCA.

Sometimes the court claim is the very thing that makes the worm turn into the raging screaming incredible hulk type DCA basher.

A polite and quick exit then follows if they were unsure of their ground

[The Tech Clerk]

Re: Help with Cabot please

I think there is some profiling going on of sorts.

Not nice profiling but profiling where they are looking at the client to see how likely there are to be turned over if they go the court route.

They want easy prey.

If you are a blubbering quivering mess trying to pay down a creditcard at the expense of food,roof,water etc there is a pretty good chance you are in such a state you would do anything up to and including accepting the securing of the debt.

This is a win win case as we pay for them to secure it (should they win) and then the debt becomes more valuable both to the OC and eventually when they grow bored of us to another DCA.

Sometimes the court claim is the very thing that makes the worm turn into the raging screaming incredible hulk type DCA basher.

A polite and quick exit then follows if they were unsure of their ground

Like that adventure.

[helmsman]

Re: Help with Cabot please

Found the closed Barclaycard account on Noddle. No default recorded. Account opened in 1996.

Hi,
Have 2 sharcklay card acc from 90s 2000s both U/E no cca 2 years since I heard from them.

[DebtMagnet]

Re: Help with Cabot please

I've had a search of the forums here and couldn't find an answer to another question I have.

Is it correct that a statute barred debt never really goes away and that they can eventually call on your estate after your death? This would of course assume that they it was enforcable.

Part of me thinks that it would be better to get all my accounts defaulted properly, CCA them as I think they will all know then that I know they are UE (most of them anyway) and then go for a 10-20% FFS. At least that way I have something in writing to close the deal.

Or is it bad practice to offer F+F if an account is UE. Does that acknowledge the debt?