CCA - Part success - don't be scared of asking!

leninspot

I had been thinking of asking for CCA's on 4 very old debts but was worried about unforeseen consequences. Anyway, a couple of weeks ago I 'bit the bullet' & asked. (All 4 debts with Cabot). Today I've had responses. Very straightforward letters - no threats/intimidation or anything of that sort. Two letters just said they (Cabot) hadn't been able to get the CCA's from the original lenders & until they can my "account is unenforceable". They outlined my legal rights clearly & honestly & politely requested I continue on my plan. The other 2 letters informed me that they don't currently have the relevant CCA's but are requesting them from the original lenders. They acknowledge it may take some time but they say they will write to me within 12 days with "an update".
I'll continue to make payments on these last 2 debts at least for a couple of months & take it from there. However, unless there is any advice from people here I'm going to stop payments on the unenforceable debts. It's all such a relief.:)
My advice to anyone thinking of asking for CCA's, in light of my experience, (but that is only with Cabot), is to go ahead & ask. My debts are old ones & my understanding is that the older the debt the less likely it is that the CCA will be found. Just take advice from National Debtline or the 'wizards' here. Good luck to all thinking of going down this road.

sourcrates

Lets just be clear on this, for the avoidance of any doubt, it is your statutory right, I`ll say that again, your statutory right, under the consumer credit act, to ask for this information, it is also your creditors statutory obligation to provide it.

There are no comebacks, (what you were thinking of there i have no idea), asking for a CCA is just like asking for anything else from your creditor, such as a copy of a statement, as long as they hold a consumer credit license, they are still bound by the terms of the consumer credit act.

The fact that a creditor cannot provide a copy of your credit agreement, usually stops them from taking any further action. 
However, they could engage council, and go through a long legal battle in order to convince the court you owe the money, the reason they don`t do this is the sheer number of cases, and the immense cost that would be involved, with no guarantee of ever seeing that money again.

There are other procedures they are legally obliged to abide by, but they don`t always do so. I refer to the chain of assignment of a debt, old debts especially, that have been sold on a few times, don`t always have a paper trail you can follow, some debt purchasers do not have FCA permission to buy or sell debt, but occasionally they do so, in contravention of that fact, that is why you should always challenge everything a debt collector/buyer throws at you, no matter how polite or charming they may appear to be.

deano1506

Great advice on here - I have been in a DMP for 7 years - had £46k owing and now owe about £5k and will be cleared at the end of the year. I have had some success with F&F settlements -  with reductions of 50% Next, 30% Halifax (Wescot), 80% Creation (Lowell). I am paying about £500 per month in my DMP with less than 12 months to go - So I am actually quite please with these F&Fs so far; however I have only just cottoned on to CCA's and the fact that if they cannot provide or are invalid the debts are unenforcable. All of my debts were defaulted over 6 years ago and most are well over 10 years old. Probably like others I'm a little nervous about asking for the CCA's and then if unenforceable offering 5% as F&F settlement. This would sort me right out, and I can move on to a better more measured financial future. Anyone got any advice, am I doing the right thing?      

-taff

ASk for the CCA. The worst that can happen if you ask is that they actually provide one. If they can't provide one, your dents have already been defaulted so they can't be defaulted again.

Not sure about settled markers on your credit report though, but f they can't provide one, there's no need to offer a F&F

deano1506

All 5 CCAs have been sent, received, and signed for. I have contacted Payplan and closed my DMP so I am self managing from now on. (I only have 10 months left on the DMP). 2 with Link, 1 with Hoist, Sainsburys/Wescot, & Nationwide. All have defaulted and the last one drops from my CRA's this month.  
I am stopping payment pending the CCA's but putting in a savings pot for potential F&Fs. I hope I am doing the right thing