Default on my Credit Report from "Cabot Financial"

magnersplease

This is my first post on this forum so please bare with me.


My partner and I are in the middle of applying for a mortgage, so we both decided to view our credit reports on line. I was totally shocked to discover a big fat 8 on my report from a company called Cabot Financial. They filed the default in April of this year. I contacted them and they said they were acting for a mail order company called Simply Be. I had an account with them in 2007, and as far as I was aware I paid everything off. If I owed them anything it was under £100. Ive moved house twice since then. Yet on my report Cabot are stating Im £1400 in default.
Simply Be state they no longer have records on my account and couldnt tell me if I even owed them anything. Im aware there is a template of a letter to send to them asking to see my original credit agreement, does anyone know how I can go about this?
Can I insist this is taken off my credit report?
Who do I dispute the default with?
And how long will this take?
Ive been so careful with my money and bills this last five years and to see this is a complete kick in the teeth. Especially now I need to apply for a mortgage..
Any advice would be great thank you.

king100

magnersplease wrote: »

This is my first post on this forum so please bare with me.


My partner and I are in the middle of applying for a mortgage, so we both decided to view our credit reports on line. I was totally shocked to discover a big fat 8 on my report from a company called Cabot Financial. They filed the default in April of this year. I contacted them and they said they were acting for a mail order company called Simply Be. I had an account with them in 2007, and as far as I was aware I paid everything off. If I owed them anything it was under £100. Ive moved house twice since then. Yet on my report Cabot are stating Im £1400 in default.
Simply Be state they no longer have records on my account and couldnt tell me if I even owed them anything. Im aware there is a template of a letter to send to them asking to see my original credit agreement, does anyone know how I can go about this?
Can I insist this is taken off my credit report?
Who do I dispute the default with?
And how long will this take?
Ive been so careful with my money and bills this last five years and to see this is a complete kick in the teeth. Especially now I need to apply for a mortgage..
Any advice would be great thank you.

There is your answer if they cant prove then how can caboot financial!!!!!

Its gonna take time

but try this

CCA request letter.

Letter requesting a copy of your agreement - It should be sent with a £1 postal order and sent recorded/guaranteed delivery - It should be sent to whoever OWNS the debt, the timescale for providing this is 12+2 WORKING DAYS. If it is not sent within this timescale they are in default of your request.



Please ammend paragragh 1 to suit. ie s77 Fixed sum credit such as loans, s78 Running account credit such as credit cards & catalogues and s79 Hire agreements.


Your Address

Date

Dear Sir/Madam

Re:− Account/Reference Number 4563210025897412

This letter is a formal request pursuant to s.77(1) of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77(6) will apply.

(DELETE THIS BELOW IF YOU ARE SENDING THE LETTER TO THE ORIGNAL CREDITOR AS OPPOSED TO A DEBT COLLECTION AGENCY)
If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection from Unfair Trading Regulations 2008 (CPUTR).

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

We look forward to hearing from you.

Yours faithfully


print your name

king100

Have caboot ever written you a letter?
Do caboot have your new address?
Do you have any CCJs against you?


Personally I would go down the line to caboot to see how they have got this are they acting for simply be.

Simply Be,I would be tempted to SAR them.

Then PM me when you have outcome as any false information on credit file can be fined and you can get compensation.

1. SAR Simply Be £10 letter.

fermi

I would be careful not to focus too hard on the credit agreement request here.

If Cabot are unable to provide a copy agreement then that doesn't mean that they must remove the default.

Cabot will come back with the standard "The McGuffick case in the High Court means we can continue to report this default." and it can be a right royal pain in the bum to get them to shift from that tack once you have based your dispute on the lack of a CCA under a request.

As has been suggested by King, the main issue is that it appears that Simply Be and Cabot don't have sufficient account records to justify the recording of the default and show how that balance was made up.

Or that the debt actually exists and is payable for that matter.

If they don't have that info then they arguably shouldn't be recording adverse data on your credit files.

https://forums.moneysavingexpert.com/discussion/3172602

Accuracy of a lender’s default records

39 Records

Any default record should be accurate. We normally expect a lender to keep records that are necessary to show an agreement exists and to support filing a default. We would also expect a lender to be able to produce evidence to justify a default record they had placed on a credit reference file. Not having any supporting records may indicate a breach of the data protection principle requiring personal data to be adequate, relevant and not excessive for the purpose for which it is processed. A record that a notice of an intention to file a default was sent, if not a copy of the notice itself, will help lenders to comply with this requirement.

As said, a SAR to Simply BE would be a logical step, as despite what they claim, they should have retained details of the account.

fermi

SAR request for debts passed to a DCA.

http://forums.moneysavingexpert.com/showpost.php?p=22707157&postcount=3

fermi

Oh, and you can also enter a formal dispute on the accuracy of the default info with the credit reference agency.

When push comes to shove, the legal duty to only report accurate data lies with Cabot.

So eventually you may need to dispute the entries directly with them as they are now the legal "data controller". Should this end up needing a complaint to the ICO or other formal action then you would need to show you had at least tried to resolve the issue with Cabot and that they had refused.

This also is worth reading.

http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf

Specifically the section from page 19 onwards that details what to do if there is incorrect info on your credit reference files.

magnersplease

fermi wrote: »

SAR request for debts passed to a DCA.


Thanks so much for your help


Do I send this to Cabot or simplybe? Im totally new to all this and find it very confusing