How do I move on

[Turquoise]

Hi Di - I didn't have a formal DMP with Stepchange.

[Turquoise]

Debt 3:

Abbey Credit Card £5k:

Account opened with Abbey 2009.
Santander took it over later in 2009.

Dec 2010 unable to pay minimum payment so paid £1 per month and have been doing that throughout.
Default notice served by Santander March 2011.

March 2011 letter from Viking informing that debt transferred to them for collection.

7 April 2011 received letter requesting full payment from Viking.

20 April 2011 made temp payment arrangement of £1 per month with Santander.
23 May 2011 default notice from Santander.
Passed to 1st Credit June 2011.
Nov 2014
Received Notice of assignment from Santander Cards Limited to Santander UK plc.

2016 Santander sent letter saying that my account has been transferred to Robinson Way debt collectors from 1st Credit.

11/6/20 CCA request sent to Santander but was returned as I hadn't added a payee name to postal order (I couldn't find who to make payable to and Customer Service didn't know what I was talking about when I asked them).
CCA request sent to Robinson Way who passed it onto Santander.

Santander and Robinson Way replied with CCA which (hard to read) and statement of account showing all transactions.
I am continuing to pay £1 per month on standing order (not DMP).

Debt 3: latest updates.

[Turquoise]

Debt 1:

HSBC Overdraft £10k (sole trader current acc in my name)

• Agreement date: June 2006

It went to Metropolitan collectors in Jan 2011, I paid them £1 per month.

On 22/4/14 the debt was purchased by Marlin Europe

Marlin changed their name to Cabot Financial (Marlin) on 2/3/15
I am still continuing to pay £1 per month to Cabot.

I’ve taken the following from a recent letter from Cabot:
• Owner: Cabot Financial (Europe) Limited

CCA request sent to Cabot 11/6/20.
12/6/20 - Letter from Cabot "we have received your request, currently do not have relevant info on file, contacting original lender...".
25/6/20 - Letter from Cabot "still progressing your request, have contacted the original lender...".
I have stopped the £1 monthly token payment (standing order, was not a DMP)

Debt 1 latest updates above.

[Turquoise]

Debt 2:

Halifax Credit card £7k

• Agreement date – April 2007
Account sold to Cabot Credit Management group 26/3/15
I’ve been paying £1 per month throughout.

I’ve taken the following from a recent letter from Cabot:
• Owner: Cabot Financial (Europe) Limited

22/5/20 - CCA request sent to Cabot for Halifax CC.
7/7/20 - Cabot have replied "we haven't been able to obtain the information from the original lender...".
I have stopped the £1 monthly standing order.

Debt 2: latest updates above.

[Joanna Connolly Solicitors]

I've stopped the monthly payments on debts 1 and 2 (Cabot) as they are currently unenforceable.

For debt 3 I'll carry on with £1 per month.

Can you always update the history in your original posts for each of your debts so it's easy for members to see before making suggestions. Ideally re-quote the post with any question you may have when any new letters arrive.

It will make your life easier too

Also can you clarify whether you've now cancelled your StepChange DMP (my apologies for not reading back through your whole thread).

Di

[Never-In-Doubt]

Yes carry on indefinitely as I suggested, until such point it gets fully assigned to a DCA or they start to threaten you; then let us know.

[Turquoise]

So I think I've done all I can for the time being. I've stopped the monthly payments on debts 1 and 2 (Cabot) as they are currently unenforceable.

For debt 3 I'll carry on with £1 per month. Should I do this indefinitely (given that it's already been 9 years)?

[nightwatch]

that's why they are happy for ou to pay £1, but don't rock the boat yet. xx

[Turquoise]

Robinson Way have also now mailed the CCA to me and said that I can continue paying as before. That's good as it's only £1 a month but I'm surprised they're not asking for more as it looks to be enforcible.
They have also sent a list of transactions on the account prior to the default. It was a difficult time in my life and I haven't looked back at the transactions until now. I was shocked to see that Santander continued to charge interest and charges for 18 months after my last purchase on the card and before I defaulted. I paid £1700 to them in that period but the total owed stayed about the same. I spent about about 3300, paid back about 1800, and still the final balance was 4700. I know that's how credit cards work, but is it possible to negotiate any of the interest down?

[Joanna Connolly Solicitors]

they've let her pay £1 monthly for 9 years so why rock the boat; I'd wait till they started getting arsey.

Or at least carry on paying until the debt is assigned to a debt purchaser.

This post by Colin explains a possible reason why continuing with a token payment can be useful if the debt is subsequently sold on and the debt purchaser ever needs documentation from the original creditor, especially if that credit agreement which Santander has already produced is enforceable (i.e. the debt purchaser may not have access to that document) >

Debt purchasers do not warehouse account documentation and the amount of people who do not choose to dispute an account, assignment or Claim, versus the small amount who do, means original creditors and assignees/debt purchasers do not exchange account documents at the point of assignment for 'economical' purposes. At least economical purposes from their point of view.

Purchasing parties are usually obliged to report the status of accounts to the original creditors, say on a monthly or quarterly basis for instance. That way the original creditor can monitor which accounts they have sold are performing. It also allows them to understand if any accounts they have assigned are in dispute and, if so, if there is any risk to reputation for them.

Furthermore, many original creditors won't release documents to even the party who has purchased the account, unless the account is in dispute and there is a valid reason for doing so from their point of view, i.e. a defence or application to set aside a Judgment received by the assignee.

I imagine that because you are/were paying StepChange, you account was being reported as a 'performing' account and for that reason the assignee won't be able to request documents from the original creditor upon receipt of your CCA request, or that any such request for documents would likely be ignored or at the very least treated as non-urgent. Which it is of course to the assignee who has 12 working days to comply with the request before falling into breach of Section 77/78 of the CCA.

Di

[Joanna Connolly Solicitors]

For no other reason than they've let her pay £1 monthly for 9 years so why rock the boat; I'd wait till they started getting arsey. But it's just me - I did say it's what I'd do.

Plus it looks enforceable, just hard to read. So all in all I'd probably just leave it be. But you know me, I like an easy life nowadays lol

If you'd like to take a look / advise a different path then great. I just thought it's only £1 and no default affecting credit rating etc. Thanks.

Aah that makes sense.

This £5k debt would take 416 years to clear at £1 per month

If during that time Santander become threatening then the OP can always change tack.

I'm all for an easy life too!

Di

[Never-In-Doubt]

Diana Mayhew - I just said because she's paying Santander direct, it's £1/m and because there's no default etc that if it was me I'd just carry on.

For no other reason than they've let her pay £1 monthly for 9 years so why rock the boat; I'd wait till they started getting arsey. But it's just me - I did say it's what I'd do.

Plus it looks enforceable, just hard to read. So all in all I'd probably just leave it be. But you know me, I like an easy life nowadays lol

If you'd like to take a look / advise a different path then great. I just thought it's only £1 and no default affecting credit rating etc. Thanks.

[Joanna Connolly Solicitors]

Debt 3: Niddy has checked the CCA. It is illegible and could be UE.

Debt 3: I'll continue with the token monthly payments, with a plan to offer F&F if it gets sold to a DCA.

If this Santander (originally Abbey) debt from 2009 is unenforceable why would you want to pay anyone for it?

Di

[Turquoise]

Debt 3: I'll continue with the token monthly payments, with a plan to offer F&F if it gets sold to a DCA.

[Turquoise]

Debt 3: Niddy has checked the CCA. It is illegible and could be UE.