Threats from Cabot over 10 year old debt

Midlifecrisis55

I defaulted on a number of accounts 10 years ago and am still paying these off.  One of the debts was bought by Cabot.  I have never missed a payment.  This week they sent an agent to my house to try to persuade me to up my payments and have threatened me by saying that if I don’t they will put this on my credit file.   Can they do this?  What is the best way to deal with this?

stu12345_2

the debt has gone from your credit file report already as it defaulted 10 years ago , your can't get the credit file damaged any more on this debt.( have you viewed your file, clear score and credit karma let you do it for free)

when did Cabot buy the debt from your previous creditor., you would have got a letter saying they now own this debt 

you should write to Cabot asking for a copy and statement of the CCA the consumer credit agreement for the original debt.

there is a good chance they don't have it  when they bought the debt and thus you will then never need to pay it any longer as the debt is no longer legally enforceable.

you may have been paying a debt for years and years that was never legally enforceable !

if they do have it and you are still in poverty, then they can't get anymore money than you can afford.to give them , plain and as simple as that 

have you gave them your income outgoings sheet so they can see you can't afford anything higher than you currently can afford , do it all in writing, royal mail recorded delivery is best 

the agent is probably a commission based employee that knocks on numerous doors.they have no power, in fact you don't even need to talk to them.

( did you get any letters from Cabot before this agent called?)

.if they come back, you can politely say you have wrote to Cabot explaining your financial situation, goodbye have a nice day

you only worry about court bailiffs for unpaid ccjs for council or inland revenue debts and you don't have that worry 

Grumpelstiltskin

Hold on a moment, you are still paying debts after 10 years?

Do you have a DMP? If so who with? 

How many debts? How much money is involved?

Could you give us more details please.

Midlifecrisis55

My credit file has nothing on it.  I got a mortgage without any issue.  I don’t have a DMP.  I live in Scotland and when this all started we didn’t get a trust deed either.  So I am still paying £40 here, £80 there etc.  we have managed to clear some of the debts but there is still money outstanding to Cabot, £104 pr month westcot £40 a month and PRA £85.  Cabot are relentless.  Is there any legal obligation on my part to engage with them?

stu12345_2

write cca letters to see if the debt is legit, to see if Cabot actually have a copy of the credit agreement as they obviously bought the debt from the creditor.

then in the meantime have you gave them an income expenditure sheet showing your income, priority bills, partners income to work out your share of priority bills and outgoings.
and a list of your other creditors and how much you give them.

then you can show exactly what you can pay Cabot.

officially they could eventually start ccj action if you fail to communicate.( only if they have a copy of the credit agreement they could enforce it)

that's why it's mega important to write this cca letter request asap

sourcrates

Yes, agree, send CCA requests to Cabot, if nothing else it will keep them quiet for a few months.

Midlifecrisis55

thank you for your advice.  I have heard back from them and they don’t have the CCA because so much time has passed.  Does that mean the debt is unenforceable?  Or should I keep paying?

RAS

Stop paying as it is unenforceable. If possible transfer the saved money into your emergency fund for a while, in case they come back with the documents in a few months. After that you can relax a bit more.

sourcrates

The devil is in the detail, they won`t hold a copy themselves, paperwork never transfers with the debt.

So are they saying due to the passage of time the OC can`t provide the paperwork?

That being the case, then the debt is dead in the water, and you can stop paying them.

If on the other hand they are attempting to obtain it from the OC, best to wait and see the outcome.

DisabledDan

Midlifecrisis55 said:

thank you for your advice.  I have heard back from them and they don’t have the CCA because so much time has passed.  Does that mean the debt is unenforceable?  Or should I keep paying?

Do as Sourcrates said, i.e. wait to see if they think they can reconstruct it.

Then when you are sure, a firm letter reminding them of the FAC CONC rules

Credit Agreement is unavailable 

CONC 13.1.6:

“(1) Failure to comply with the provisions [by not supplying a true copy of the Consumer Credit Act Agreement] means that the agreement becomes unenforceable while the failure to comply persists, and the courts have no discretion to allow enforcement.

(2) In such cases, a firm should in no way, either by act or omission, mislead a customer as to the enforceability of the agreement.”

If there was a period of 6 years where the debt was not acknowledged and no payment made to it then it becomes Statute Barred, if not legal action was taken to obtain a CCJ within these 6 years then no CCJ can now be obtained.

CONC 7.15.8 A 

a firm must NOT continue to demand payment from a customer after the customer has stated that he will not be paying the debt because it is statute barred.

Cabot was misleading you by saying they could put it on your credit record, later you can make a complaint to the FOS and FCA about their conduct.  If enough people complain these maggots will get their just reward.

Sly72

Just a random question but over the years have many times does the debt move to another creditor, and if it does do you request a CCA each time?