75% write off - Cabot. Statue barred soon

cherry545

Hi I owed over £5k.  The company then sold by debt to Cabot .  After hounding me for years they reduced amount to £1250.  I think this will be statue barred in December.  However im thinking of my credit rating.  Is it better to have 'settled ' rather than statue barred on my credit file?  

nic_c

If it's STB in December, what's the default date - that will soon be 6 years and so drop off irrespective of whether paid.

It wouldn't ever say STB on your credit file, as by definition it's a debt that hasn't been acknowledged for 6 years.

HillStreetBlues

cherry545 said:

Hi I owed over £5k.  The company then sold by debt to Cabot .  After hounding me for years they reduced amount to £1250.  I think this will be statue barred in December.  However im thinking of my credit rating.  Is it better to have 'settled ' rather than statue barred on my credit file?  

Have you replied to any of this "hounding"?  if so what did you say?

cherry545

I have mostly ignored/blocked them.  But they came to house where I live with elderly mum.  I dont want them calling again.  I have an inkling they can't prove my debt.  

MorningcoffeeIV

cherry545 said:

I have mostly ignored/blocked them.  .  

And what about the non-mostly occasions?

sourcrates

Send the "provit letter" to them.

Its specifically worded so as not to acknowledge the debt in writing, which is what matters.

Then you will know if it can be enforced, or not won`t you, peace of mind for the cost of a stamp.

Link to letter is in my signature.

As others have mentioned, the default date will be the cause of action date here, 6 years after that, the entry will vanish from your file, and with no written acknowledgement or payments, the debt will become statute barred.

oldagetraveller1

Maybe the O.P. gave them a "piece of (their) mind" when the "hounding" took place?

Rather than peace of mind.

nic_c

cherry545 said:

I have mostly ignored/blocked them.  But they came to house where I live with elderly mum.  I dont want them calling again.  I have an inkling they can't prove my debt.  

Do debt collectors "send people round" on non-litigated debt? Usually they litigate and the people coming round are bailiffs.

sourcrates

nic_c said:

cherry545 said:

I have mostly ignored/blocked them.  But they came to house where I live with elderly mum.  I dont want them calling again.  I have an inkling they can't prove my debt.  

Do debt collectors "send people round" on non-litigated debt? Usually they litigate and the people coming round are bailiffs.

Surprisingly there are still various old style debt collectors that use self employed collectors to go door to door, hoping to collect on the accounts they are given, they work mostly on a commission basis, so they have incentive to get results.

They mainly work in inner city areas, or will target a particular town or area to blanket cover in order to get the best coverage.

Resolvecall are the best known on these boards, but there are various other smaller outfits as well.

The larger companies work on a numbers basis and will target clients by email/text or by phone in the first instance, from the comfort of a call centre, basically because its cheaper than a letter.

The bailiffs you see on the telly box are mostly acting on non consumer credit act related debt, it is actually quite rare to engage a bailiff to collect defaulted unpaid loans or credit cards, with a CCJ attached, and if they do, then as its a civil matter, its usually only the county court bailiff, who is an employee of the court, so they tend to be much easier to deal with, as they don`t receive commission unlike the HCEO`s who do.

cherry545

sourcrates said:

Send the "provit letter" to them.

Its specifically worded so as not to acknowledge the debt in writing, which is what matters.

Then you will know if it can be enforced, or not won`t you, peace of mind for the cost of a stamp.

Link to letter is in my signature.

As others have mentioned, the default date will be the cause of action date here, 6 years after that, the entry will vanish from your file, and with no written acknowledgement or payments, the debt will become statute barred.

thanks I will do that