Old debt from 2002 - still paying - Robinson Way has now done search on credit file

Sheesha

Hi All, wondering if anyone can advise me pls?

I have a debt from an old Barclay loan from 2002 (was orginally 4k loan) - i didnt start paying this back till around 2005 - i'm still paying now. I was paying around £50pcm for years, then most recently i changed the standing order to £1 a month. This is because i recently got married a few months ago, & bought a house last month & needed every penny. I have been planning to send them a CCA as this debt is so old & its still on a balance of £2408.

Anyway - i just had an alert from equifax that Robinson Way (who owns this debt) has done a search on my credit file as of yesterday.

Why would they be doing a search on me? This debt doesnt show up on any of my credit files (equifax, experian, noddle). I really wouldnt want this debt being 12 years old now appearing on any of my credit files.

Any advice appreciated

Tixy

Possibly looking to get an idea of your current finances and decide whether to take further action now that you have reduced your payments.

They cannot make the account appear on your credit file again, but obviously if they took court action and successfully obtained a CCJ then that would appear on your credit file (unless you could pay in full within a month).

Sheesha

So would it be wise to send a CCA asap? as this debt is so old & it took years for them to chase me properly, could they actually take me to court? I doubt they still have the originally credit agreement so surely that would mean they cant take me to court?

Tixy

Sending a CCA request would do no harm.

Whether they would be successful with any court action would depend on what paperwork they hold.

Sheesha

thanks Tixy for your replies.

will get onto a CCA asap, the debt was Cabot Financial before Robinson Way, so maybe they have little orginal paperwork..

sourcrates

Sheesha wrote: »

thanks Tixy for your replies.

will get onto a CCA asap, the debt was Cabot Financial before Robinson Way, so maybe they have little orginal paperwork..

If it originates from 2002, its highly unlikely they will still have original paperwork.
A CCA request is a must, if nothing else it automatically puts the account on hold until such time as the CCA request has been actioned.

spicefox

Sheesha wrote: »

thanks Tixy for your replies.

will get onto a CCA asap, the debt was Cabot Financial before Robinson Way, so maybe they have little orginal paperwork..

They don't hold the paperwork.

They will in turn request it from the original vendor.

Sheesha

me again -

what if nobody along the line can find the orginal credit agreement after my CCA request?

what are my options then?

sourcrates

Sheesha wrote: »

me again -

what if nobody along the line can find the orginal credit agreement after my CCA request?

what are my options then?

In that case, the creditor would be in default of your CCA request, and until such time as an agreement is found, they cannot obtain a CCJ against you in court, however long that may be.
Usually with debts from that long ago, if no agreement is found, they may try and fob you off that a "reconstituted" version will suffice, it wont, has to be the original.
Creditors/DCA`s know this, and if no agreement exists, its not unusual for them to write off the debt.

Tixy

If they are unable to produce a CCA then you would have the option to cease payments.
Some lenders/debt collectors will even send a letter to say they are unable to locate the CCA at the current time and will for the time being cease collection activity/cease further action.

In the unlikely even they were able to produce the CCA at a later date (and the CCA was valid) then they could then start chasing/enforcing again.

Some people choose to make a low settlement offer in full & final settlement of the debt. This can have 2 benefits -i) they won't be able to enforce the debt if they produced the CCA later and ii) you would no longer legally owe the money, so wouldn't need to declare it on a mortgage application/credit application.

They may be able to produce a reconstituted version of the CCA rather than the original. If that happens then probably worth seeking further advice on how likely it is they would be successful in court with the CCA (unlikely but there have been cases).

Sheesha

thank you both for your advice much appreciated

god i do love this website