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Cabot Financial - Final Settlement
akashi
Posts: 93 Forumite
Hi.
I took a loan for £10,000 in 2003 from Lloyds. Started making late payments and was passed to Cabot Financial. Since 2007 I have been making regular payments and have brought the balance down to £6,000.
Spoke to Cabot Financial and they have agreed £3,300 as full and final settlement. They promised to mark the credit file as "satisfied" and writer off all remaining balance. I am waiting for written confirmation from them before I make the payment.
The problem is I received my credit file from Equifax online on 01/08/2011 and there is nothing showing for the £10,000 loan. Llyods / Cabot Financial are not on the list of accounts. All my current and previous (within 6 years) accounts are listed.
I also have a credit file on paper from Experian from 2008 and Llyods / Cabot Financial are not on the list there either!
How can Cabot Financial mark the account as "satisfied" if the account is not on my credit file?
The account cannot be statutory barred as I have been making payments since 2007.
Please help.
Thanks in advance.
I took a loan for £10,000 in 2003 from Lloyds. Started making late payments and was passed to Cabot Financial. Since 2007 I have been making regular payments and have brought the balance down to £6,000.
Spoke to Cabot Financial and they have agreed £3,300 as full and final settlement. They promised to mark the credit file as "satisfied" and writer off all remaining balance. I am waiting for written confirmation from them before I make the payment.
The problem is I received my credit file from Equifax online on 01/08/2011 and there is nothing showing for the £10,000 loan. Llyods / Cabot Financial are not on the list of accounts. All my current and previous (within 6 years) accounts are listed.
I also have a credit file on paper from Experian from 2008 and Llyods / Cabot Financial are not on the list there either!
How can Cabot Financial mark the account as "satisfied" if the account is not on my credit file?
The account cannot be statutory barred as I have been making payments since 2007.
Please help.
Thanks in advance.
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Be responsible with your money and avoid the misery
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Be responsible with your money and avoid the misery
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Comments
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If its not on your file then they cannot mark it as satisfied. It might be that it shows on experian or callcredit - have you checked both of those.
If not then when did you originally default on the loan with lloyds? a debt will only show for 6years from the date of default, after that it will no longer be visible (although that doesn't mean its not owed).A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
I checked on both Experian (2008 copy) and Equifax (01/08/2011) copy and there is no mention of the £10,000 loan account. I think I defaulted on the account some point in 2003.-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*
Be responsible with your money and avoid the misery
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Well thats why, its tool old - the default is so old its already dropped off your credit file. You didn't actually need the part of the letter about updating your credit file then in your case - just the F&F bit etc.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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I will post a scanned image (censored) of the letter once it arrives to make sure it is all good to make the payment.
Thanks again Tixy.-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*
Be responsible with your money and avoid the misery
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Hi,
I have received the written confirmation regarding my full and final settlement with Cabot Financial. They must of rushed the letter out as the envelope was not even sealed!
Can anyone find anything wrong with the letter attached?
Thanks in advance.
Attachment size: 834KB
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Be responsible with your money and avoid the misery
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