Letter from Cabot

meghji

Hi All

I had a loan on which I defaulted. It was taken over by Cabot and I have been regular minimal payments to them.

I wrote to them on 25/8/15 for a copy of the agreement to see if I had PPI on it.

They have written back:
"Unfortunately we have not been able to provide you with the requested information within the relevant time period."
"Your credit agreement is currently unenforceable, which means we are not permitted to obtain a judgment or decree against you in court. However, you are still obliged to repay the outstanding balance as confirmed in this letter and therefore w would recommend you contact us as soon as possible to set up a repayment arrangement or continue with your existing payment plan."

Looking at other posts, I think this means that I do not have to make any more payments unless they can produce the agreement.

Rather than drafting my on letter to them, I was hoping to find a template on this form so that I do not inadvertently commit myself to something.

Can someone please post a link if there is such a template.

Thank you

fermi

"currently" is the operative word there.

The agreement will be unenforceable by a court for the time being, but if they are able to supply a compliant copy agreement at any point in the future then that may change.

If they are able to comply with the s77 request it could become enforceable by the courts again.

Whether stopping payments in that light would be a wise thing or not depends on many factors, some of which are hard or impossible to predict.

When was the original agreement taken out? Before or after April 2007?

Do you mind telling us who the original creditor was?

sourcrates

Dear Cabot,

Thank you for your letter confirming the account you hold in my name is unenforcable.
Until you do supply a correct responce to my request, I will be with holding all payment, as is my right under sec 78/79 consumer credit act 1980.

Yours faithfully

Meghji

meghji

Hi Fermi
I am not sure when the loan was original taken out but I would guess about 2005.

The original lender was Goldfish.

Hi sourcrates
Thank you for the draft