Defaulted card disappears From Record!

Kaybenson

Hello Fellow savers,

I have a number of cards defaulted in 2009.

1) Store card paid up so dropped off

2) Barclaycard defaulted in 2009 but i have been paying the affordables monthly. Recently got a letter from them that cabot has taken over the debt. I have not honour their letter because i want to ask here on MSE if its better to deal with them or not.

3) I noticed that Halifax dropped off even though i defaulted in 2009 and have not finish paying off. Though have been paying little for a long time. Could it resurface?

4) All these defaults are in 2009. Does that mean i can get a mortgage in few years time?

Cheers

Kay

The_Boss

Kaybenson wrote: »

4) All these defaults are in 2009. Does that mean i can get a mortgage in few years time?

Nobody can really say either way.

chanz4

They may be in the process of been sold, if unpaid that means risk of ccj action been taken by whoever buys

Kaybenson

Is it better to continue to pay financial company or the company they sold the debt to?

Tixy

Kaybenson wrote: »

Is it better to continue to pay financial company or the company they sold the debt to?

You need to establish who owns the debt. If it has been sold then you will need to pay the company it was sold to.

Usual advice is to start by sending a prove it letter to the debt collection company for proof they have a right to collect the debt - Letter when you know nothing about about the debt - AKA "Prove it" letter

Kaybenson

Tixy wrote: »

You need to establish who owns the debt. If it has been sold then you will need to pay the company it was sold to.

Usual advice is to start by sending a prove it letter to the debt collection company for proof they have a right to collect the debt - Letter when you know nothing about about the debt - AKA "Prove it" letter

I think barclays send me a letter stating that cabot is now handling the debt.

nottoolate

handling it or bought it?

PaulW922

The defaults will drop off six years after the default date regardless of whether they are paid or not. That does not mean you do not owe the money any more. I am surprised that the store card you refer to dropped off after you paid it - that is unusual.

If Barclays has advised you that Cabot has BOUGHT the card debt then, given you do not dispute that the money is owed, you should start paying Cabot - they may try to renegotiate the amount but if you cannot afford more, don't be bullied by them. On the plus side, a debt purchase company is more likely to accepted a reduced lump sum in full and final payment if you can afford to make one.

Even though Barclays has taken the default off your file it will probably reappear with Cabot's name. Do check that the dates remain the same if it does - Cabot cannot 're-default' you.

The Halifax default certainly could come back - lets hope not - but in any event it will go after six years.