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  • Naive - Nat West and Cabot

    Hi all, I am totally naive to all of this, and not sure where I stand with things. :-)

    The ex-wife (thankfully) left me in around 2006, but I ended with close to £85k debt, all of which has been cleared, with the exception of a Nat West dual gold credit card. Nat West were one of the few who would not accept a settlement and for the past years I have been paying £40 monthly, zero interest, to clear this debt.

    About 18-24 months ago I received a letter from Cabot Financial that they had purchased the debt from Nat West and I should now pay them. Not wanting to stir the hornets nest I ignored the request and continued paying Nat West.

    Last weekend I received a text from Cabot, which thinking it was a case of mistaken identity (it has happened several times before), I called to speak to a very snotty/arrogant man demanding I switch payments to them, as it was no longer satisfactory that I pay NW, despite the money being forwarded each month.

    He wanted to know my current financial position, I suspect because they want more from me each month!

    I wasn't really in a position to talk to them at the time, so told him I would need a week to sort things out. I did (out of interest) ask what sort of settlement might be acceptable, to be told they would not be prepared to discuss it until they had further financial information from me.

    In the past few days I have found a letter from Cabot stating they were happy with the current repayment but they suggest a new plan of £41.66 monthly to clear the debt faster.

    The letter had no bank account details for me to switch the standing order that is in place, so I registered an account on their website (cabotfinancial.co.uk) and made a payment of £7.40 to reduce my total balance due down to £6950.00

    I subsequently googled what might be an acceptable settlement to them (I paid most others around 30%) and came up with information about cca's and this forum! I still don't really fully understand about these, and would have continued paying NW for another 14+ years! However the attitude of the guy from Cabot made me angry!

    The Nat West debt and the amount outstanding to them/Cabot does NOT appear on my Noddle credit record.

    So, being naive, where do I stand?

    Should I just continue paying my £40 a month to Nat West?
    I could probably increase payments to £50 a month, so do I offer to do this? Should I pay this to Nat West or Cabot?
    Does the fact I registered on, and subsequently used the cabot system to pay them £7.40 mean I have made them aware I now accept I owe Cabot the money rather than NatWest?
    I can probably find £2000 to settle, but I have a feeling this will not be accepted by them? I certainly cannot find any more as a lump sum. Should I even bother?
    Is it worth me looking at the cca process to see whether this debt is enforceable? This is completely new concept to me, and I can honestly do with stress of constant phone calls/threatening correspondence.

    Any advice received with thanks.

    Regards

    Gee






  • #2
    This should read:

    The Nat West debt and the amount outstanding to them/Cabot does NOT appear on my Noddle credit record.

    Comment


    • #3
      Hi Gee, and welcome to AAD, I have been a member here for a year and am incredibly grateful I found this amazing site. Someone will be along to offer you advice, if not this evening then i’m sure tomorrow - it is quite late and no other members appear to be online at this moment. You will be offered the very best advice in an informed non-judgmental way. Good luck!

      Comment


      • #4
        Originally posted by Right-a-wrong View Post
        Hi Gee, and welcome to AAD, I have been a member here for a year and am incredibly grateful I found this amazing site. Someone will be along to offer you advice, if not this evening then i’m sure tomorrow - it is quite late and no other members appear to be online at this moment. You will be offered the very best advice in an informed non-judgmental way. Good luck!
        No rush at all, if Cabot had provided bank details I would have switched my standing order and been none the wiser. Live and learn!

        Comment


        • #5
          Originally posted by Freedom70 View Post

          No rush at all, if Cabot had provided bank details I would have switched my standing order and been none the wiser. Live and learn!
          There’s lots to learn indeed, I personally would not be making any offer to settle a penny until you find out if the debt is enforceable or not, meanwhile, maybe have a mooch around the ‘unenforceable diaries’ on here? they are a mine of information. I will leave any advice/help to one of the long standing members or moderators on here, they are incredibly knowledgeable and helpful, my life has been totally turned around in the last year.

          Comment


          • #6
            Hold on - have you ever sent for a CCA1974 (credit agreement) request with a £1.00 postal order, and received one back from? ( sounds like you may be paying for office parties = i.e, being taken for a mug! by the way welcome, no offers and NO TALIKING TO THEM ON THE PHONE, all in writing, look at peoples diaries and start on here and keep up to date, do not pay anything until you have a copy of CCA1974 and it is checked (no crossing out) and send to webmaster@all-about-debt.co.uk who will check it for enforceability or not, remember no phone calls and sit on your hands for now.

            I am sure Warwick65 will probably pop in here as well and advise

            CCA Request
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment


            • #7
              Originally posted by The Tech Clerk View Post
              Hold on - have you ever sent for a CCA1974 (credit agreement) request with a £1.00 postal order, and received one back from?
              Until coming across the forum last night I had never even heard of this!

              Comment


              • #8
                click on the blue CCA Request in (Para 7 above) and fill out form with a postal order, they have 12 +2 days to respond (then unenforceable until if ever they get one only if it has all the necessary details is it enforceable etc etc) = send Recorded Delivery and keep copy, start a diary for this one here, look around the site and you will see how to set out diary and how to update by date event.
                Last edited by The Tech Clerk; 23rd March 2019, 10:04.
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                Comment


                • #9
                  Originally posted by Freedom70 View Post
                  This should read:

                  The Nat West debt and the amount outstanding to them/Cabot does NOT appear on my Noddle credit record.
                  A registered default falls off File after 6 years england/wales or 5 years scotland
                  I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                  If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                  Comment


                  • #10
                    If it were me I'd also SAR Nat West for 'chapter & verse' re the account.

                    Shake the tree & you might be surprised what falls out!

                    Comment


                    • #11
                      Originally posted by charitynjw View Post
                      If it were me I'd also SAR Nat West for 'chapter & verse' re the account.

                      Shake the tree & you might be surprised what falls out!
                      DSAR is free to request since 25th May 2018 and they have a need to respond with all data within 30 days or a good excuse to take longer = again Recorded Delivery and keep copies of all correspondence an request
                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                      Comment


                      • #12
                        I would advise you now to set out your debt information in the Diary format.
                        • Type of account (credit card/loan)
                        • Date commenced (ideally before Apr 2007)
                        • Approx balance
                        • Date last paid (approximate date you last made a FULL payment)
                        • Are you on arrangement or not paying
                        • Status (default/in arrears/up-to-date)
                        • Account owner (who is writing to you, a DCA or the lender)

                        The Statute Bar is for 6 years or 5 in Scotland. Its important that you realise that writing with offers is almost certainly to have reset that clock!
                        This is why no phone calls, no txt, everything in writing.
                        The AAD CCA request doesn't acknowledge the Debt! and is your legal right in the Consumer Credit Act. Whilst this is outstanding you cannot be sued.
                        Any response of documents received CCA send unredacted to webmaster (Niddy) for advice as to whether EN or EU.

                        The DSAR should be delayed until you have received or otherwise the CCA. Because you want to pick up any Correspondence between the (in this case Cabot) and Nat West especially over your CCA request in the DSAR!!
                        So put that on the shelf at the moment until the CCA has been answered!

                        By all means send off recorded delivery (including statutary £1) for the S.77/78 CCA.
                        But please also set out your information in the Diary format above!
                        Welcome to AAD

                        Comment


                        • #13
                          Originally posted by charitynjw View Post
                          If it were me I'd also SAR Nat West for 'chapter & verse' re the account.

                          Shake the tree & you might be surprised what falls out!
                          What is a SAR?

                          Been reading a few of the diaries and surprised at the outcomes!

                          Comment


                          • #14
                            Originally posted by Freedom70 View Post

                            What is a SAR?

                            Been reading a few of the diaries and surprised at the outcomes!
                            An SAR is a statutory access request - you are requesting all information that the OC (original creditor Nat West in your case) has on file about your (alledged) outstanding credit card debt with them, it should contain all correspondence between Nat West and yourself since the day it was set up, this provides you with a clearer picture of exactly what they have. The CCA request (S.77/78) comes first, you are asking for proof that they have the agreement. Do keep reading diaries Gee, it may all seem unfathomable to you at the moment - it did to me, but a few months down the line things do really fall into place. Good luck (again) you are in the very best hands here.

                            Comment


                            • #15
                              As the response from the SAR is straight from the horse's mouth (original creditor) you'll be able to compare it with whatever (eventually) Cabot sends.

                              Of course, with an old agreement such as this, it's possible that records have been destroyed or lost.

                              & if Nat West can't produce documentation, where is Cabot going to source it from?

                              Ps...@The Tech Clerk...I see you've got me down as a veteran.
                              Who do I apply to for me pension?

                              "During the war.........."
                              Last edited by charitynjw; 23rd March 2019, 17:51.

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