Checking my credit history??

MONTY_2

I have an old debt from Oct 2001 that a company called Cabot Finiancial are chasing. I have made some payments starting in Jan 2007 but have noticed after paying £500 to them my debt has increased by £600 in interest they added as I was a couple of days late getting to the post office.

I have decided to look into this a bit more using this site and requested a CCA.

I have checked my file on the CreditExpert website and it is not listed as a Debt. Does this mean it has removed as a stautory debt??

Or do I need to check other credit lists?

I just checked my equifax report and again it is not on their. Do I owe them any money if I have not signed a CCA.

Hippocampus

How can a couple of days interest amount to £600????? How much do you apparently owe them?

I'd take a long hard look at whether or not you should be paying them anything at all. I'm particularly disturbed that a debt from 2001 suddenly resurfaced after, conveniently, 6 years.

It sounds to me as if they have been sitting on a debt up until just before the 6 year cut off for it being statute barred gaining interest all the time, and then "suddenly" finding out you were on their books. VERY shady practice if it is true. And reason enough to tell them to shove their debt where the sun don't shine.

Tell us more. This sounds VERY interesting.

GeorgeUK

As HC says, it sounds as if you started repayments just before the debt became statute barred, but you may want to check that this is the case and that there wasn't a 6 year period where you had made no payments (5 in Scotland).

After 6 years, the debt will stop being displayed on your credit report to comply with the Data Protection Act - they can't hold data on you for longer than 6 years. This is why it isn't showing up on your credit report.

If you supplied the £1 fee with the CCA request then they have 12(+2) working days to supply a copy before the debt becomes unenforcable.

Not all accounts require a CCA though (such as overdrafts) - what type of account was this for?

Hippocampus

Bear in mind too, that Cabot refuse to accept that the CCA applies in regards to CCA requests. Once i pointed out to them that they were not entitled to the £1 fee, they started sending those back, in the main.

However, they do tend to play it safe by trying their best to ontain a copy of the original agreement. As a favour. Of course they do... for without an agreement, there is no enforcable debt. SO it's as much for their benefit as it is yours.

I'll just bet though, that after all this time, there won't actually be an enforcable agreement to be found. If one existed in the first place anyway.