Cabot unable to provide CCA but still stating debt is valid

Help_needed_please_2 · 19 August 2019 at 10:49AM

I have received my second round of communications from Cabot stating that I owe over £7k for a loan from Lloyds Bank. For several years I have been disputing this debt and requesting to know how the amount has been calculated as I made monthly payments from 1999 to 2016 of over £8k. I did originally have a loan from Lloyds but that was for £9k and I had made payments before it went into default. As such, I cannot accept I owe the amount stated. For many years I have requested a copy of the agreement as supporting documentation for the claim against me

Cabot have now written to me stating that the original agreement is no longer available as Lloyds didn't have to keep it, but that Cabot find I owe the money anyway so they are going to pursue me. I stopped paying the debt in 2016 until the amount owed could be proved. I do not wish to escape a debt, but I do want proof of how they have calculated the amount.

Am I correct in thinking that they cannot do anything now, I would happily see them in court, and have told them that repeatedly. I want to write one final letter to them and should like to be sure of my facts. Any advice would be gratefully appreciated.

Suseka97 · 19 August 2019 at 11:28AM

Have you sent a formal CCA request? If not then its worth following that process through - as it formalises the situation in writing and gives you recourse if they did try to pursue this through the courts.

Have a read of this article: https://debtcamel.co.uk/settlements-old-debts-cca/

It is worth noting that whilst a debt may prove to be unenforceable - that doesn't mean it goes away and a DCA can continue to write to you for however long they choose. One way to put the whole thing to bed (and stop persistent requests for payment) is to offer to settle the account. What you do need is for the DCA to realise that you know your rights and that without paperwork the debt is UE and as such they have no legal right to enforce collection - then you go in with a low offer.

Help_needed_please_2 · 19 August 2019 at 11:49AM

Suskeka97 thank you very much, the article is very informative.

I did send a formal CCA request to which they responded that they could not fulfill. my request, but that in their view I still owed them the debt. They can provide no supporting information for this, just a list of payment made by myself over a period of 17 years.

I have also put in a complaint to the Financial Ombudsman and am awaiting their response.

I shall do as you suggest and write back to them, then wait to see what they have to say in response.

Thank you again!

sourcrates · 19 August 2019 at 12:01PM

The only consequesnce of not been able to fulfil a section 77/79 request is that the creditor cannot obtain judgement against you in court.
The debt itself remains valid, and live, its just they cannot force you to pay by way of the courts.

Help_needed_please_2 · 19 August 2019 at 12:15PM

Thank you very much, that is where I have been mistaken previously.

I do still dispute how they can have taken an original loan of £9k and increased it to effectively £15k. Do I have any rights in asking them to explain this?

sourcrates · 19 August 2019 at 12:26PM

Help_needed_please wrote: »

Thank you very much, that is where I have been mistaken previously.

I do still dispute how they can have taken an original loan of £9k and increased it to effectively £15k. Do I have any rights in asking them to explain this?

Cabot won`t have a clue, that will have happened long before they became involved.
Cabot buy up old credit debts, it will have been the original lender who added the charges and/or interest.

You can make a complaint against the original lender and ask them how the debt was accrued, but as it is now unenforcable, do you really want to push a big stick into the hornets nest ?

Help_needed_please_2 · 19 August 2019 at 1:07PM

Thank you very much for all your help. I have previously asked the original lender how they came up with the figure they did and they could not answer. I shall write to Cabot making an offer.

sourcrates · 19 August 2019 at 2:20PM

Help_needed_please wrote: »

I have previously asked the original lender how they came up with the figure they did and they could not answer.

It was at that point you should have refered the matter to the financial ombudsman service, "could not answer" will not pass muster with them, a full investigation would then have happened, and you would have had an answer one way or another.

You only have 6 months in which to refer a complaint to the FOS, so that time has long since past i`m afraid.

For future reference, and for the benefit of anyone else reading this post, never take "we don`t know" as an answer, if you want to make a complaint, its best done by letter, with "Official Complaint" at the top of the page.

And if you are not happy with the final responce given, take the matter to the FOS, they will take the buisness apart to find out what went wrong, never accept a response your not happy with.

Help_needed_please_2 · 19 August 2019 at 2:22PM

Thank you, at least I know where I stand!

Cabot unable to provide CCA but still stating debt is valid

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