Cabot Financial Old loan Santander

[GARY1988]

Hello,

I am looking for some advice.

I have recently had a letter from Cabot regarding a remaining balance on a loan from somewhere around the year 2005. It got passed to a DCA (I forget the name) where I ended up setting up a payment plan. I set up new bank account at some point and this account unintentionally has not been paid for some time. I think at least four years. It then has been sold again to Cabot at some point but I have never made any payments with them. I also moved addresses and they have found my new address.

The loan does not appear on my credit file but I think it did at one point as it must have defaulted. I have buried my head in the sand at the moment as I have been working hard to repair my credit rating for the last 6 years where all my defaults drop off soon.

I am fearful of even communicating with them in case my credit rating is damaged. I have received a letter saying they are going to send resolvecall to my house. The balance is just over £2000. Is it likely they will go to court? issue another default? etc. I was thinking of sending a CCA as it has changed hands a lot and is from pre 2007. I am also sure that I reclaimed PPI on this loan it should have knocked 1800 off this balance but I now have no paper trail for this.

Any advice welcome.

[Amethyst]

As it defaulted around, the only way it can reappear on your credit file is if Cabot were successful in obtaining a county court judgment, so your best bet is to try put them off putting in court claim or coming to a settlement arrangement now ( early stages you might get a decent discount on the debt to settle in full or by installment ).

Send a CCA request ( CCA Request) is a good idea to hold things up. Don't worry about Resolvecall - they are literally there to encourage contact between the debtor and Cabot and if they did visit it'd only be to say ' call cabot' … annoying but not scary like a bailiff. And you can just tell them you do not give them permission to visit your property if you write to Cabot.

You do have a couple years until it would go statute barred due to your payments so its unlikely they will just drop it. I would ask for a full breakdown of the account since they took it over to check payments have been made, and regarding the ppi you could send a SAR to the original lender Subject Access Request Letter to make sure the balance remaining is right.