Cardio diary

[cardiac arrest]

Type - Bank Overdraft
Started - 1990's
Balance - £600+
last payment - may 2012 £1.00
Present - not paying
Status - Defaulted April 2007 (now off CRA file)
Owner - cabot financial (uk) ltd

I used to have a bank account with x bank then transferred to y Bank in 2006 when I moved address. Some time later (although I've lost this paperwork) I agreed to repay
at £1 per month to x bank. Then in 2008 I received a letter from NCO who wanted to review my account so I paid them the £1 pm.
In 2011 I had a FORMAL DEMAND from Past Due Credit Collections who said they were appointed by APEX. so I started paying them £1pm
Later in 2011 I had another letter from Past Due Credit Solutions entitled FINAL SETTLEMENT LETTER which offered a modest discount if I paid up in a month, I didn't.
They also said any future payments should be paid to Apex, but they didn't give me any info on how to pay them, so I stopped paying in May 2012.
I never heard anything from Apex.

last week I received a letter from the infamous Deborah Green saying they've been trying to contact me..? erm. 3 years later ?

So..what to do ?

I'm not sure I ever received a default on this, i've certainly never asked for copies of any agreements or statements and I don't think this has ever appeared on my credit file (something Cabot have threatened could happen). My credit file is now clear and my rating good...so I don't want to lose that.

edit: - Have found default data , made April 2007 and expired 2013 so it's off my credit file now

I can not recall how this bank account was so overdrawn when i swapped banks back in 2006, and I've never really checked it out - I was going through a divorce at the time so money was flying all over the place, as was my head.

Should I send the 'prove it' letter in the first instance. Does the stuff Niddy has said about Cabot licence not been renewed affect my approach, and the fact this was an overdraft does this mean a different route than the traditional CCA route etc ?

thank you

[Never-In-Doubt]

Re: Cardio diary

Type - Bank Overdraft
Started - 1990's
Balance - £600+
last payment - may 2012 £1.00
Present - not paying
Status - not sure
Owner - cabot financial (uk) ltd

I used to have a bank account with x bank then transferred to y Bank in 2006 when I moved address. Some time later (although I've lost this paperwork) I agreed to repay
at £1 per month to x bank. Then in 2008 I received a letter from NCO who wanted to review my account so I paid them the £1 pm.
In 2011 I had a FORMAL DEMAND from Past Due Credit Collections who said they were appointed by APEX. so I started paying them £1pm
Later in 2011 I had another letter from Past Due Credit Solutions entitled FINAL SETTLEMENT LETTER which offered a modest discount if I paid up in a month, I didn't.
They also said any future payments should be paid to Apex, but they didn't give me any info on how to pay them, so I stopped paying in May 2012.
I never heard anything from Apex.

last week I received a letter from the infamous Deborah Green saying they've been trying to contact me..? erm. 3 years later ?

So..what to do ?

I'm not sure I ever received a default on this, i've certainly never asked for copies of any agreements or statements and I don't think this has ever appeared on my credit file (something Cabot have threatened could happen). My credit file is now clear and my rating good...so I don't want to lose that.

I can not recall how this bank account was so overdrawn when i swapped banks back in 2006, and I've never really checked it out - I was going through a divorce at the time so money was flying all over the place, as was my head.

Should I send the 'prove it' letter in the first instance. Does the stuff Niddy has said about Cabot licence not been renewed affect my approach, and the fact this was an overdraft does this mean a different route than the traditional CCA route etc ?

thank you

edit - Niddy would ignore. So I will do.

Due to the amount of times this has been sold on and moved, and the confusion involved it's not something I would overly worry about. Cabot may well own it now but that doesn't really mean anything - the FCA is explicit when they say a lender or DCA should not confuse a debtor and selling the account willy-nilly confusing you as to whom is the rightful owner, with no NoA's being issued doesn't look good.

Who the legal owner is, must really be up for dispute as well. The fact you had an overdraft in itself doesn't matter anymore - what matters is the fact you did pay into it until May 2012 which means that technically, you'd have been CRA Defaulted long before then (more likely around 2006 so the CRA data would be exhausted by now - they cannot add it again) so ignore that - SB would be around June 2018 - basically add 6 years to the month after you last paid - termination and default had occurred long before - throughout the period when you were paying £1 per month - and if not then that would be there own fault and they'd be restricted from adding it now, some 9 years later.

As for what to do next, I'd wait and see what they say - and then if anything send the Prove It letter as they may not know it was an OD and so sending an OD CCA may not be that wise after all..... Keep us updated and we'll try and guide you along.

[cardiac arrest]

Re: Cardio diary

Due to the amount of times this has been sold on and moved, and the confusion involved it's not something I would overly worry about. Cabot may well own it now but that doesn't really mean anything - the FCA is explicit when they say a lender or DCA should not confuse a debtor and selling the account willy-nilly confusing you as to whom is the rightful owner, with no NoA's being issued doesn't look good.

Who the legal owner is, must really be up for dispute as well. The fact you had an overdraft in itself doesn't matter anymore - what matters is the fact you did pay into it until May 2012 which means that technically, you'd have been CRA Defaulted long before then (more likely around 2006 so the CRA data would be exhausted by now - they cannot add it again) so ignore that - SB would be around June 2018 - basically add 6 years to the month after you last paid - termination and default had occurred long before - throughout the period when you were paying £1 per month - and if not then that would be there own fault and they'd be restricted from adding it now, some 9 years later.

As for what to do next, I'd wait and see what they say - and then if anything send the Prove It letter as they may not know it was an OD and so sending an OD CCA may not be that wise after all..... Keep us updated and we'll try and guide you along.

Thank you, much appreciated.

[cardiac arrest]

Re: Cardio diary

2nd letter from Cabot (end of the month run obviously).

Our Offer to you

We are prepared to reduce the balance, subject to agreeing terms of repayment ..etc

I guess keep ignoring ?

[alland]

Re: Cardio diary

2nd letter from Cabot (end of the month run obviously).

Our Offer to you

We are prepared to reduce the balance, subject to agreeing terms of repayment ..etc

I guess keep ignoring ?

That would be my plan

[cardiac arrest]

Re: Cardio diary

end of the month again and letter number 3 from Cabot..

We are trying to help you with your debt, we are trying to get hold of you
Please telephone at once because if you don't we'll keep sending these letters to you every month...

Sounds like another ignore moment to me ??

[Pixie]

Re: Cardio diary

Let them keep sending the letters to you every month

[cardiac arrest]

Re: Cardio diary

New month...new letter from car boot ...(number 4)

Tell us your personal financial details and we will help you with a repayment plan !

Ignored, and filed.

[cardiac arrest]

Re: Cardio diary

Phone call received today from Car Boot Finance.......
Didn't speak to them other than to say don't ring this number again.

[MustGetStraigh]

Re: Cardio diary

Phone call received today from Car Boot Finance.......
Didn't speak to them other than to say don't ring this number again.

I'm getting the same pattern. You'll now get a letter saying they have been trying to call you and you need to ring them....

[cardiac arrest]

Re: Cardio diary

This months letter is entitled 'A new approach' !!

They are so wanting to help me...there 'consultants' want to understand me so they can arrange a payment plan that fits my circumstances ........purrrrrrr

I think i'm already on a payment plan that fits my circumstances - I pay zilch and that's just fine thank you very much..

[cardiac arrest]

Re: Cardio diary

quick update - monthly letters, threat to pass to (yet another) debt collection company...which hasn't happened, and more monthly letters of how they want to help...don't think this is going anywhere...Oh, they did phone me up again, out of the blue..they were told to not ring this number again please.

[MrsD]

Re: Cardio diary

just stick with the plan Cardio, this is the normal procedure.

[cardiac arrest]

Re: Cardio diary

Update -

october 2016 cabot wrote to advise "External Agency Recovery Notification", ie passing the 'account' to Fidelite' .

same date letter from Fidelite' please contact us within 7 days to avoid further debt collection activity including phone calls and letters.

November - text from drydensfairfax - contact us urgently.

Have ignored everything so far...