Failed Court Action

[jaguarsuk]

Thank you for the very quick response!

They closed the account in August 2013. The account has been sat with their complains department for a long period of time now. Do you think it’s worth challenging the default? I’m looking at buying my first house (been squeaky clean financially before and after) and obviously it would help significantly if the default wasn’t there.

The problem is that they might find the Default Notice if challenged to remove it and then if they do the debt could become enforceable. In a year and 2 months it'll fall off your credit file and become Statute Barred, so in the grand scheme of things delaying your plans by 15 months might be a better option.

[Tam12]

I see where you’re coming from completely, one bit of info I probably should have given before is that it shows in the SAR that Cabot asked for the default notice on 3 separate occasions which suggests (to me at least) that they weren’t able to provide it. Whether that makes any difference or not, I’m not sure. I guess it depends on how hard they go looking for it doesn’t it?

[jaguarsuk]

I see where you’re coming from completely, one bit of info I probably should have given before is that it shows in the SAR that Cabot asked for the default notice on 3 separate occasions which suggests (to me at least) that they weren’t able to provide it. Whether that makes any difference or not, I’m not sure. I guess it depends on how hard they go looking for it doesn’t it?

The thing is that once the bank has sold the debt they really don't care about it and aren't going to waste time or effort at their expense to help Cabot enforce it. If a default notice exists in digital copy they'll probably freely provide it as it's nothing to do, but if it is in some paper storage facility somewhere they're not going to go digging for it.

The bank not providing it to Cabot doesn't mean it 100% doesn't exist, probably about 99% and if you go harassing the bank to remove the default that might just stir them enough to actually go to locate the paper copy. If they scan it and then send it to Cabot... bam you have a claim on your hands.

The other side of this is the more you rock the boat the more you are keeping this on Cabot's radar and showing them that this debt is moving towards being statute barred. They don't have to have evidence to file a claim online, so could do so to beat the Stat Barred clock and then allow it to become stayed in the hope that they can source what they need at some point.

Now that wouldn't affect your credit rating to get your mortgage after the default has dropped off your credit file, but if in a couple of years they somehow have got all they need then you could find yourself staring down the barrel of a potential CCJ coming up to the end of your fixed term of your mortgage and scuppering your potential renewal while heading towards repayments at the Standard Variable rate.

As I say, this is your alleged debt and your life, plus these are all if's and maybe's.