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Unenforceable loan with Cabot
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And go to the debt free wannabe board for any further questions or budget help.Non me fac calcitrare tuum culi0
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Cabot have written saying they can get a CCJ but cannot enforce it. This is because they cannot provide a copy of my credit agreement (HSBC loan bought by Cabot). Is this right? Presumably a CCJ will destroy my credit file even though they would not be able to send out bailiffs.
The debt goes back to 2003 and I was paying it on a repayment arrangement until last month, when Cabot write saying it is presently unenforceable.
You'd be better posting on debt-free wannabee as that's where we deal with unenforceability.
You cannot just 'get a ccj' - you have to start a claim and the debtor gets the chance to defend the claim.
It would be very stupid of them to tell you, in writing, that a debt is unenforceable, and then start a court claim. It's not going to happen.0 -
They are messing with technicalities and wording.
Yes they can start a claim, but you would defend it on the basis no credit agreement exists, normally that would mean the case would be thrown out, so would be a waste of time and money.
As Fatbelly has said, it aint gonna happen.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
So did you stop the payments or did they? It's unenforceable which means they cannot take action until they get the agreement at which time its enforceable.
So Cabot can send you letters and try and get you to pay, but at this time its unenforceable in court, so if a claim form was issued you have a defence.0 -
Thank you guys.
I have only just stopped paying when it was sold to Cabot. Been paying HSBC since 2003. Basically it was a managed loan, where credit card, personal loan and small overdraft got merged into a super overdraft.
Interestingly, I have a letter from hsbc prior to sale of debt to Cabot saying that I would have signed a CCA when they merged the debts but they don!!!8217;t have a copy of it as it was more than 6 years ago
Does this make a difference0 -
If they can't produce a copy you're still in the same position.Non me fac calcitrare tuum culi0
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