CCA Response Query

Hello Friendly Kindred Folk!


I wonder if somebody could help with the benefit of their experience or advice please?


In short, August 2011 went pop and I owed 11 creditors. Since then I have managed to bring that down to just 2 by saving hard and settling. At present I have 2 remaining, both were Credit Cards, 1MBNA, 1 Lloyds.


My credit file is not great, though I am now only showing the 2 that are outstanding and in default, and I pay something every month by agreement. I am trying to improve the Credit File as myself and my husband would like to buy our own home next year. those that I have settled have noted as settled or satisfied on the account and I've heard nothing further albeit settlements were less than the balances.


I settled a debt at the beginning of this year and had my sights set on MBNA next. Because I have settled a debt, I added the spare cash to the remaining 2 debts and doubled my payments to them in April of this year which I imagined would head off those financial review letters for another 12 months.


Having doubled my payments to both, I was then quite shocked when 4 months later I received a letter from Cabot Financial saying they had bought the account and the full balance is now owed to them. (Whilst I'm sure the amount outstanding should be approx. £9k, they are saying that it is £10+K). I was all set to just carry on paying the amount I had been paying Lloyds as they said the current agreement in place remains valid but I took great umbrage when I checked my credit file and discovered that they have moved the debt from the credit card section of my credit report to the "Other Banking" which sits right next to the Mobile and Current Account which as I understand plays a bigger part with mortgage applications than the defaulted credit cards!!!! Arrrgh!! I was all kinds of furious with the situation and in a fit of peak sent them a CCA letter. My thinking being that I could at least perhaps get a reduction for partial settlement. I do not dispute that I owed money to Lloyds, though I do feel they have probably had the balance back in interest payments before I went Pop, though have been committed to clearing the balances and cleaning up my credit file and am ok with that.


Anyway, having sent the CCA (delivered to them 24th August 2015), I have received a response advising me that "they do not currently have the information on file. However, they have requested the relevant details. They have "acknowledged the 12 day time limit to provide the information before the account becomes unenforceable, however as we have to request the details from the original lender we anticipate that we will be able to provide this within 40 days. In the unlikely event we are unable to obtain this information within those limits, we will write to you again".


I have not knowingly or wittingly paid any money to Cabot since I received the Notice of Assignment which was from them but included a letter (apparently) from Lloyds Bank, though I have been keeping the payments money to one side just in case they can provide the information.


My questions/queries therefore are:


1. Does the 12 day time limit still apply even though they have advised 40 days?
2. What follow up letter can I send them if I am not provided with the information?
3. Can I tackle their reasons for moving the debt around my credit file without acknowledging any responsibility to them?
4. If they cannot provide the correct information, can I enforce them to remove the debt (noted now as theirs) from my credit file?
5. When is my default period over - Is it 5 or 6 years form 2011?


I have also sent an SAR to Lloyds but have heard nothing as yet.


If anyone can enlighten me further, I would be everso grateful. I'm feeling a bit crushed at the moment that I have worked so hard since August 2011 to avoid Bankruptcy and put everything right and really felt on the way to the light at the end of the tunnel as it were. Unfortunately this has brought up a whole lot of negative emotions that I thought I had gotten over and now find myself unable to sleep at night again :-( as well as being overly stressed and emotional - Its madness given I actually increased payments to Lloyds before they apparently assigned the debt!!


Any light to shed please???


Exasperated but Most grateful


JBelle

Comments

  • glentoran99
    glentoran99 Posts: 5,821
    First Anniversary Combo Breaker First Post Debt-free and Proud!
    Forumite
    JBelle wrote: »
    Hello Friendly Kindred Folk!


    I wonder if somebody could help with the benefit of their experience or advice please?


    In short, August 2011 went pop and I owed 11 creditors. Since then I have managed to bring that down to just 2 by saving hard and settling. At present I have 2 remaining, both were Credit Cards, 1MBNA, 1 Lloyds.


    My credit file is not great, though I am now only showing the 2 that are outstanding and in default, and I pay something every month by agreement. I am trying to improve the Credit File as myself and my husband would like to buy our own home next year. those that I have settled have noted as settled or satisfied on the account and I've heard nothing further albeit settlements were less than the balances.


    I settled a debt at the beginning of this year and had my sights set on MBNA next. Because I have settled a debt, I added the spare cash to the remaining 2 debts and doubled my payments to them in April of this year which I imagined would head off those financial review letters for another 12 months.


    Having doubled my payments to both, I was then quite shocked when 4 months later I received a letter from Cabot Financial saying they had bought the account and the full balance is now owed to them. (Whilst I'm sure the amount outstanding should be approx. £9k, they are saying that it is £10+K). I was all set to just carry on paying the amount I had been paying Lloyds as they said the current agreement in place remains valid but I took great umbrage when I checked my credit file and discovered that they have moved the debt from the credit card section of my credit report to the "Other Banking" which sits right next to the Mobile and Current Account which as I understand plays a bigger part with mortgage applications than the defaulted credit cards!!!! Arrrgh!! I was all kinds of furious with the situation and in a fit of peak sent them a CCA letter. My thinking being that I could at least perhaps get a reduction for partial settlement. I do not dispute that I owed money to Lloyds, though I do feel they have probably had the balance back in interest payments before I went Pop, though have been committed to clearing the balances and cleaning up my credit file and am ok with that.


    Anyway, having sent the CCA (delivered to them 24th August 2015), I have received a response advising me that "they do not currently have the information on file. However, they have requested the relevant details. They have "acknowledged the 12 day time limit to provide the information before the account becomes unenforceable, however as we have to request the details from the original lender we anticipate that we will be able to provide this within 40 days. In the unlikely event we are unable to obtain this information within those limits, we will write to you again".


    I have not knowingly or wittingly paid any money to Cabot since I received the Notice of Assignment which was from them but included a letter (apparently) from Lloyds Bank, though I have been keeping the payments money to one side just in case they can provide the information.


    My questions/queries therefore are:


    1. Does the 12 day time limit still apply even though they have advised 40 days?
    2. What follow up letter can I send them if I am not provided with the information?
    3. Can I tackle their reasons for moving the debt around my credit file without acknowledging any responsibility to them?
    4. If they cannot provide the correct information, can I enforce them to remove the debt (noted now as theirs) from my credit file?
    5. When is my default period over - Is it 5 or 6 years form 2011?


    I have also sent an SAR to Lloyds but have heard nothing as yet.


    If anyone can enlighten me further, I would be everso grateful. I'm feeling a bit crushed at the moment that I have worked so hard since August 2011 to avoid Bankruptcy and put everything right and really felt on the way to the light at the end of the tunnel as it were. Unfortunately this has brought up a whole lot of negative emotions that I thought I had gotten over and now find myself unable to sleep at night again :-( as well as being overly stressed and emotional - Its madness given I actually increased payments to Lloyds before they apparently assigned the debt!!


    Any light to shed please???


    Exasperated but Most grateful


    JBelle


    No you cant force them to remove the information, The only thing you can do is stop paying them until the provide the information as its not enforceable, The default will remain on your account 6 years from the date of default
  • Thanks Glentoran99 :-)


    You have confirmed my thoughts about it staying visible on my record for 6 years :-(


    I assume then, the only way to get it settled or satisfied is to play ball with making them a partial settlement offer? Even if not enforceable?


    Jbelle
  • glentoran99
    glentoran99 Posts: 5,821
    First Anniversary Combo Breaker First Post Debt-free and Proud!
    Forumite
    JBelle wrote: »
    Thanks Glentoran99 :-)


    You have confirmed my thoughts about it staying visible on my record for 6 years :-(


    I assume then, the only way to get it settled or satisfied is to play ball with making them a partial settlement offer? Even if not enforceable?


    Jbelle



    Yep, im in a similar situation one of mine wont even accept a partial settlement, It hasn't been defaulted and is being marked as ok so they have me over a barrel to get the full amount, despite them admitting they don't have the paperwork, if I stop paying they default me and it remains as a negative on my report for longer,
  • Have to day I may be being optimistic with the partial settlement. We've not got there yet but I will try.


    Thanks again and good luck with your situation, I'm sure we'll all get there in the end, finger's crossed.


    Kind regards


    JBelle
  • JBelle wrote: »
    Have to day I may be being optimistic with the partial settlement. We've not got there yet but I will try.


    Thanks again and good luck with your situation, I'm sure we'll all get there in the end, finger's crossed.


    Kind regards


    JBelle


    Ill get there but means paying the lot £1295 left from nearly £35000 in total
  • Well done you! The end is in sight at least. :-)
  • Be aware even if you paid the full outstanding balance that the default marker would still be shown and will affect your chances of getting a decent deal on any further borrowing. My advise would be to check that the dates are accurate and reflective of the time you first got in to financial trouble - with mine I was able to get just over 2 years shaved off what was (incorrectly) being recorded.

    Good luck...keep us posted.
  • Thanks Bennyhill, I do indeed intend to check this and will keep you posted. :-)
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