Cabot and cyldesdale Loan - just issued me a Section 87 notice

[Roger]

As shown on transunion the account was placed into default in April 2020 by Cabot, the account was sold by Clydesdale in Oct/Nov 2019. Apart from not paying the arrears that Cabot are demanding which were owed to Clydesdale. The monthly payments have never stopped since the start of the loan, albeit 6 months at reduced payment amount.

I hope this all makes sense?

It does make sense and CABOT brought this Debt for pennies the pound. Clydesdale would have written the Debt off against Tax Relief. So Cabot have found a nice meal ticket curtesy of you!
Like the good Privateers (PIRATES) they have found a pot of gold and intend to bleed you dry!

I repeat there is a recent CASE about UE Debt being reported on Credit Reports.
I strongly suggest you contact Colin G Quinn initial free.

[Timewilltell]

I think that what is being said is that if they are found to have breached the rules you will have the marker removed legally and will not have to pay it off either although a solicitors costs may be involved which should be significantly less than the balance.
happy days and here’s to the new mortgage albeit slightly delayed ?

of course speak with The mighty Quinn ! (Isn’t there a song in that somewhere??)

[Roger]

I think that what is being said is that if they are found to have breached the rules you will have the marker removed legally and will not have to pay it off either although a solicitors costs may be involved which should be significantly less than the balance.
happy days and here’s to the new mortgage albeit slightly delayed ?

of course speak with The mighty Quinn ! (Isn’t there a song in that somewhere??)

In my book its called extortion. You see Cases of DCA's hard searching or as in your Case a Default what 5/6 months after their Purchase! That will stay on file for 6 years from that Date! Yet there isn't a Default Notice from Clydesdale.
So why don't they Sue If they are so confident?
Extortion thats their game deliberately trashing your Credit for six years!

As Timewilltell says: Speak to the Mighty Quinn.
What will happen if you pay? It will still remain reported for the duration but with a caveat saying partial or whatever settlement!
If you can get this legally removed because it is EU and will always be EU then thats the way to go!

[DBan]

It’s been a while and only now am I getting my backside into gear, it’s been a tough couple of years due to health and mental health but now I feel able to start tackling them.

First things first, does anyone have an up to date address for Clydesdale that I can send a DSAR letter too please? As the last one I sent in 2023 got returned to me saying Addressee gone away.

Thanks

[Still Waving]

It’s been a while and only now am I getting my backside into gear, it’s been a tough couple of years due to health and mental health but now I feel able to start tackling them.

First things first, does anyone have an up to date address for Clydesdale that I can send a DSAR letter too please? As the last one I sent in 2023 got returned to me saying Addressee gone away.

Thanks

What address did you send it to?

A simple google suggests that their address is 177 Bothwell St, Glasgow, Scotland. However, if you want to make a complaint they say the address to write to is Virgin Money, Sunderland, SR43 4JB. Clydesdale now apparently trade as Virgin Money, and Virgin Money's head office address is the same as Clydedale's Glasgow one.

[DBan]

What address did you send it to?

A simple google suggests that their address is 177 Bothwell St, Glasgow, Scotland. However, if you want to make a complaint they say the address to write to is Virgin Money, Sunderland, SR43 4JB. Clydesdale now apparently trade as Virgin Money, and Virgin Money's head office address is the same as Clydedale's Glasgow one.

Thanks it was neither of those, I had it addressed to 31 Stockton hill in Glasgow.

[Still Waving]

Thanks it was neither of those, I had it addressed to 31 Stockton hill in Glasgow.

I would be inclined to send to Clydesdale HO address.

[SteveB]

Clydesdale and Yorkshire are now Virgin money. This is from their website https://uk.virginmoney.com/security/#getting-in-touch


Remember you can do a DSAR via any medium - telephone, email, post

[Roger]

5 May 2020, 18:59
its been rolling on now for some three and half years!

Hello

We have previously spoken about this situation and the Default Notice issued by a debt purchaser (if it was legally assigned) not the original creditor.

Email me that "Termination" letter from Cabot since the legal owner of the debt has yet to be established.

Are Cabot seeking payment of the whole amount if the loan had it run to the expiry date?

I note you've not received your SAR response from Clydesdale.

Di

@Di sets out the issues.
Were Cabot (and especially who within the CABOT group was Assigned the Account) as she says ( if it was legally assigned) this is the problem here establishing the legal Owner.
In Cabot's correspondence and especially the issue of a Default Notice! In whose right Clydesdale or Cabot?
It seems CABOT are behaving as the Legal Owner if their name is being reported on the CRA's
The DSAR is very important because if this is unobtainable the same will apply to CABOT.

[DBan]

Sory for the delay, I’ve had a hell of a year dealing with my mental health and hadn’t provided an update, I emailed Clydesdale for a DSAR and received the below on 06/01/2024




I’m going to double check the account reference and send another email again to see if I get the same result, failing that I shall pop down to a branch and see if I can get any further information.

In the meantime I received this letter today from Cabot 29/10/2024



Anything to worry about or just ignore?

[Dottir]

Hi

Any update on your SAR?

The letter from Cabot is a procedural thing but don't fall for the 'paying more than you need to do' - what they mean is paying us as much as we can squeeze out of you.

If your finances have not changed then say so but remember fuel bills are up, in fact everything has gone up so if you wages haven't gone up you have less disposable income. Also remember (and I don't know if you have another income in the house) it is your debt so do not include the other income.

[DBan]

Hi

Any update on your SAR?

The letter from Cabot is a procedural thing but don't fall for the 'paying more than you need to do' - what they mean is paying us as much as we can squeeze out of you.

If your finances have not changed then say so but remember fuel bills are up, in fact everything has gone up so if you wages haven't gone up you have less disposable income. Also remember (and I don't know if you have another income in the house) it is your debt so do not include the other income.

Finally got an update and details sent through from Virgin (Clydesdale) in regard to SAR

Not sure what I supposed to do next?

I’ve sorted out Cabot for the time being too.