Statute Barred?

Tixy

Some DCAs specialise in buying statute barred debts, or very nearly SB debt. They probably paid about 6p in the pound for your debt Geoff.

geoffb65

Thanks Tixy..

Pretty much what I suspected, 'though we could all pay 6p in the pound if we were given the opportunity!:beer:
Maybe we should take them to court and request full disclosure, then it would be up to the court to determine what is a fair profit margin.

Geoff

rog2

geoffb65 wrote: »

Cabots acquired this debt in July 2008, by my reckoning that was just 6 years after I stopped paying Cahoot.
This begs the question, did Cabots know it was statute barred when they acquired it?

Cabot, in common with many of the less desirable elements that are to be found in the infestation of 'Debt Collection', 'acquire' old, and unenforceable, debts by trawling through the credit reference agencies, looking specifically for 'debts' which are, or are about to become, unenforceable. They 'purchase' these debts, from the original creditor, often for just a few pence in the pound. They, then, pursue the 'debtor' for the FULL amount of the debt, often adding charges, in the hope that the debtor will be unaware of the rights that the Limitation Act affords that debtor.
It's a 'risk' strategy for Cabot - but not too much of a risk as the vast majority of debtors will be totally unaware of their rights and will, simply, pay up to get them off of their backs.

The link you require is:

https://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

System

Hi,

I agree with everyone here; the limitation period began the last time you admitted this debt, either by making a payment or writing to them and in some way saying you owed them the money.

Just another thought; Cabot should have sent you a Notice of Assignment (Law of Property Act 1925) telling you that they had bought the debt from Cahoot and have now aquired from them legal rights of recovery and enforcement... if they haven't (and until they do) they cannot recover or enforce this debt!

It may also help to remind them that the OFT Debt Collection Guidelines look down on companies collecting statute barred or near statute barred debts.

Stick at it, and good luck!

Hippocampus

No NOA means they don't even have the right to sue.

Hanging's too good for that lot in Kings Hill.