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  • FIRST POST
    • DictionaryB
    • By DictionaryB 29th Nov 17, 9:22 AM
    • 4Posts
    • 1Thanks
    DictionaryB
    CCA's and clearing my debt
    • #1
    • 29th Nov 17, 9:22 AM
    CCA's and clearing my debt 29th Nov 17 at 9:22 AM
    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 I regularly check my credit reports with Noddle and Clearscore, and the Halifax account seems to have disappeared and been replaced by an entry from Cabot.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,
Page 1
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 29th Nov 17, 10:00 AM
    • 5,059 Posts
    • 5,202 Thanks
    poppasmurf_bewdley
    • #2
    • 29th Nov 17, 10:00 AM
    • #2
    • 29th Nov 17, 10:00 AM
    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 I regularly check my credit reports with Noddle and Clearscore, and the Halifax account seems to have disappeared and been replaced by an entry from Cabot.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,
    Originally posted by DictionaryB
    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.
    "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery." Mr Wilkins Micawber in David Copperfield by Charles Dickens.
    • DictionaryB
    • By DictionaryB 29th Nov 17, 11:01 AM
    • 4 Posts
    • 1 Thanks
    DictionaryB
    • #3
    • 29th Nov 17, 11:01 AM
    • #3
    • 29th Nov 17, 11:01 AM
    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
    • By sourcrates 29th Nov 17, 8:04 PM
    • 12,695 Posts
    • 12,037 Thanks
    sourcrates
    • #4
    • 29th Nov 17, 8:04 PM
    • #4
    • 29th Nov 17, 8:04 PM
    Never underestimate the incompetance of a creditor to keep paperwork.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 29th Nov 17, 9:47 PM
    • 11,646 Posts
    • 8,779 Thanks
    fatbelly
    • #5
    • 29th Nov 17, 9:47 PM
    • #5
    • 29th Nov 17, 9:47 PM
    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
    • By datlex 29th Nov 17, 11:51 PM
    • 1,455 Posts
    • 1,236 Thanks
    datlex
    • #6
    • 29th Nov 17, 11:51 PM
    • #6
    • 29th Nov 17, 11:51 PM
    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,
    Originally posted by DictionaryB
    Silly question late teens were you over or under 18 when yo took out the debt?
    • DictionaryB
    • By DictionaryB 30th Nov 17, 9:00 AM
    • 4 Posts
    • 1 Thanks
    DictionaryB
    • #7
    • 30th Nov 17, 9:00 AM
    • #7
    • 30th Nov 17, 9:00 AM
    Thanks for the replies, will send a CCA. Nothing to lose at this stage!
    I was over 18!
    • StopIt
    • By StopIt 30th Nov 17, 9:20 AM
    • 1,449 Posts
    • 1,239 Thanks
    StopIt
    • #8
    • 30th Nov 17, 9:20 AM
    • #8
    • 30th Nov 17, 9:20 AM
    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?
    Originally posted by DictionaryB

    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.
    I'm a Board Guide on the Debt Free Wannabe, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

    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
    • By DictionaryB 30th Nov 17, 10:56 AM
    • 4 Posts
    • 1 Thanks
    DictionaryB
    • #9
    • 30th Nov 17, 10:56 AM
    • #9
    • 30th Nov 17, 10:56 AM
    Great - that was my understanding. Will send it off today and keep my fingers crossed!

    Is there a recommended template for this?
    • StopIt
    • By StopIt 30th Nov 17, 2:33 PM
    • 1,449 Posts
    • 1,239 Thanks
    StopIt
    See this old thread for CCA examples: http://forums.moneysavingexpert.com/showthread.php?t=4422783
    I'm a Board Guide on the Debt Free Wannabe, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

    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.
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