My debt diary

[Chubbbbss]

In 2010 due to a sudden change in family circumstances I defaulted on all of my loans/credit cards totaling 8 agreements and approximately 15k. These all fell off my credit file in 2016 (one in 2017 due to incorrect recording that was rectified via complaint to FOS). All agreements were fully settled, initially by paying using a Debt Management company as i was literally being tortured at home, in work, via phone, email text message etc by these creditors all at the same time. I then began to pay them by myself when i felt more able to approach each individual creditor. I have one outstanding debt which i will detail below.

Type of account - Unsecured loan - Ulster bank - original balance £11k
Date commenced - March 2008 @£270 per month
Approx balance now - £6580
Date last paid - 30.05.2018
Are you on arrangement or not paying - paying £10 per month by direct debit since account was taken over by Cabot in April 2015.
Status - defaulted in November 2010, fell of credit file in November 2017.
Account owner - Cabot Financial (Uk) Limited


Account changed from original creditor to Triton (Ulster Bank's in house collection team) who were paid by DMP. Was subsequently sold a number of times to various DCA's including Moorcroft, Debt Managers and then Cabot.

June 2015 - I emailed experian as Cabot financial recorded incorrect default date on my credit report as August 2011.Experian reply stating they contacted Cabot stating 'Please be advised that Cabot Financial purchased this account on 30/04/2015 and at the time of purchase we were advised by the original vendor that this account had previously defaulted on 31/08/2011'

November 2015 - Debt Managers wrote to me regarding payments. They quote Original Credit Reference Number as : 18361097 (this is not my original bank loan account number).
23rd November 2015 - I Wrote to Debt Managers offering £700 as full and final settlement which they refused.
10th December 2015 - I Received letter from Debt Managers advising they did not receive my full and final offer.
30th December 2015 - I sent letter back advising of original £700 offer and advised i may be able to source a maximum of £1000 from family member if this was accepted.

Mid 2016 - Experian finally change default date to 18th November 2010.

23rd August 2016 - I sent letter to Cabot offering £1000 as full and final settlement - subsequently refused
2nd December 2016 - Letter received from Cabot Financial Uk Ltd offering settlement figure of £2025.14
15th June 2017 - Letter received from Cabot Financial Uk Ltd offering settlement figure of £2010.13
2nd October 2017- Letter received from Cabot Financial Uk Ltd offering settlement figure of £1995.13
3rd January 2018 - Letter from Cabot ' we would like to hear from you' advising they wish to review my payment plan
27th April 2018 - Letter received from Cabot Financial Uk Ltd offering settlement figure of £1974.13
6th May 2018- I sent letter to Cabot offering £1000 as full and final settlement
10th May 2018- Letter from Cabot advising ' Thank you for your recent offer of payment' we have reviewed your account and are happy to consider your offer of payment but need info including details of where funds have come from and details of income and expenditure
15th May 2018 - Telephone call to Cabot to advise of income/source of money for settlement figure.
18th May 2018- Letter to Cabot advising that i phoned and provided details of income/expenditure and that money was gift from family. was advised during call that settlement figure remained at £1974.13
21st May 2018 - Letter received from Cabot stating ' as per our recent conversation our settlement offer remains at £1974.13 to close your account.
4th June 2018 - CCA request sent

Payments have been made to Cabot since approximately mid 2015 at £10 per month.

I do not recall receiving notice of assignment from Cabot, though my filing has not been good regarding this as i have blindly paid the £10 to 'keep the peace'.

When i write all of this out i do not understand why i was liaising with Debt Managers in November 2015, if Cabot supposedly purchased debt in April 2015..

Hope this is clear to those reading it. This is all the info i have to date from reading old emails and letters.

[The Tech Clerk]

Diana Mayhew

[MisterK]

Congratulations on finding this forum at last. Can't undo the past but I think you can keep that £1000 in your pocket for the time being and quite possibly forever.

The best thing really is to stop talking to them on the phone and see what happens in reply to your CCA request. I know that Di Mayhew will be able to let you know about all the other things that can make a debt unenforceable even if the agreement itself is a good one.

Well done for holding the line on your £1000 offer, hopefully you won't now need to repeat the offer. It's worth bearing in mind that only a court can force you to provide I/E details.

You're probably also well advised to send an SAR to clarify some of the issues re assignment etc.

[Chubbbbss]

Thank you misterK, yes I have not actually tried to run from his debt and have made efforts to clear it (to the best of my ability). Looking back I would have been better letting it go statute barred but unfortunately I had no clue of all the different aspects at that time.

[MisterK]

If only....

I too would be SB if I knew 6/7 years ago what I know now.

C'est La Vie.

[Chubbbbss]

Cca request signed for by Cabot this morning

[Warwick65]

All you can do now is wait and see if they respond. Ulster bank are part of the RBS group and I know when my RBS accounts were sold to Cabot they were unable to fulfil my S78 requests

Make sure you keep copies of the CCA request

[Chubbbbss]

Yes will do

[Joanna Connolly Solicitors]

Cca request signed for by Cabot this morning

Good. Cabot have a statutory duty to comply with your CCA Request. If they don't or can't comply by the deadline then the debt becomes unenforceable in court until or unless they do.

Don't send them a chasing letter if they don't respond by the deadline. The ball will be in their court from that moment onwards.

I note from your other thread that you live in Northern Ireland which is a different legal jurisdiction, however the Consumer Credit Act will still be applicable.

Di

[Chubbbbss]

Thanks Di, yes I won’t be doing any more chasing. Will be intrigued to see what they produce as the debt is so old and has changed hands so many times. Added to that I read Niddy’s blog about Cabot which makes for interesting reading

[Chubbbbss]

Not so much as an acknowledgement letter to date.. does the 12+2 days start on the day they sign and receive the request?

[The Tech Clerk]

receipt

[Chubbbbss]

Thanks