CCA's and clearing my debt

DictionaryB
DictionaryB Posts: 6 Forumite
in Debt-free wannabe
Hi All,

Have read on the forum for some time but first post.
In my late teens I was rather foolish and built up a quite large amount of debt.
I serviced this until 3 years ago when I defaulted on my Halifax credit card at around £10k.
Since then I have been repaying Akinika £100p/m and recently the debt appears to have been transferred to Cabot. I regularly check my credit reports with Noddle and Clearscore, and the Halifax account seems to have disappeared and been replaced by an entry from Cabot.
I'm continuing to pay the £100p/m and balance is now around £6500.
Would it be worthwhile at this stage sending a CCA request (Halifax account was opened October 2007)?
As I understand if they cannot comply with this I can make a low offer of settlement to clear the default?
Would appreciate any advice.
Thanks in advance,
«1

Comments

  • poppasmurf_bewdley
    poppasmurf_bewdley Posts: 5,909 Forumite
    Name Dropper First Post First Anniversary
    DictionaryB wrote: »
    Hi All,

    Have read on the forum for some time but first post.
    In my late teens I was rather foolish and built up a quite large amount of debt.
    I serviced this until 3 years ago when I defaulted on my Halifax credit card at around £10k.
    Since then I have been repaying Akinika £100p/m and recently the debt appears to have been transferred to Cabot. I regularly check my credit reports with Noddle and Clearscore, and the Halifax account seems to have disappeared and been replaced by an entry from Cabot.
    I'm continuing to pay the £100p/m and balance is now around £6500.
    Would it be worthwhile at this stage sending a CCA request (Halifax account was opened October 2007)?
    As I understand if they cannot comply with this I can make a low offer of settlement to clear the default?
    Would appreciate any advice.
    Thanks in advance,

    You understand wrong. If they cannot comply with a CCA request, then they cannot take you to court, so the debt is effectively null and void, and you need pay nothing.

    The default on your credit file will remain there, no matter what you do. The only difference being that it would be marked settled if you paid it in full, or marked partially settled in you part paid it.

    I think it unlikely that a debt from 2007 will not have a paper trail, and the DCA will probably be able to satisfy the CCA request, but nothing ventured nothing gained.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • DictionaryB
    DictionaryB Posts: 6 Forumite
    Sorry I should have been further explanatory - that if they cannot comply I am on good grounds to negotiate for them to mark the default as satisfied.
    I'm quite happy to carry on paying the £100p/m, but satisfaction will no doubt improve my credit position?
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    Never underestimate the incompetance of a creditor to keep paperwork.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • fatbelly
    fatbelly Posts: 20,492 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    If Cabot have bought the debt from Halifax I would sat it's unlikely that they have the original credit agreement on file.

    Whether Halifax will be interested in digging it out if Cabot request it, that's the question.
  • datlex
    datlex Posts: 2,239 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    DictionaryB wrote: »
    Hi All,

    Have read on the forum for some time but first post.
    In my late teens I was rather foolish and built up a quite large amount of debt.
    I serviced this until 3 years ago when I defaulted on my Halifax credit card at around £10k.
    Since then I have been repaying Akinika £100p/m and recently the debt appears to have been transferred to Cabot. I regularly check my credit reports with Noddle and Clearscore, and the Halifax account seems to have disappeared and been replaced by an entry from Cabot.
    I'm continuing to pay the £100p/m and balance is now around £6500.
    Would it be worthwhile at this stage sending a CCA request (Halifax account was opened October 2007)?
    As I understand if they cannot comply with this I can make a low offer of settlement to clear the default?
    Would appreciate any advice.
    Thanks in advance,
    Silly question late teens were you over or under 18 when yo took out the debt?
    Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.
  • DictionaryB
    DictionaryB Posts: 6 Forumite
    Thanks for the replies, will send a CCA. Nothing to lose at this stage!
    I was over 18!
  • StopIt
    StopIt Posts: 1,470 Forumite
    DictionaryB wrote: »
    Sorry I should have been further explanatory - that if they cannot comply I am on good grounds to negotiate for them to mark the default as satisfied.
    I'm quite happy to carry on paying the £100p/m, but satisfaction will no doubt improve my credit position?


    If they cannot comply, then yes, they may accept a low ball F&F offer to settle the default.


    It can't hurt to send a CCA request and see what happens.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • DictionaryB
    DictionaryB Posts: 6 Forumite
    Great - that was my understanding. Will send it off today and keep my fingers crossed!

    Is there a recommended template for this?
  • StopIt
    StopIt Posts: 1,470 Forumite
    See this old thread for CCA examples: http://forums.moneysavingexpert.com/showthread.php?t=4422783

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
  • DictionaryB
    DictionaryB Posts: 6 Forumite
    Update: So I sent off my CCA, and received a response from Cabot stating that they could not comply within the 12 days, but would attempt to locate the agreement and reply within 40 days.

    I understand they are already unenforceable given the 12 days, I'm now at 21 working days with nothing further. Note they didn't say working/not in their letter.

    Would appreciate any tips on what to do next?

    My thoughts and what i'd like is to write offering a very low amount (c.10% of the remaining) as full and final settlement? Any thoughts appreciated.
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