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Ok sorry if I’ve bombarded you. Just not used to this so I’m unsettled. Thanks you so much for all your help and knowledge.
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Just to update this thread, they have responded to my statute barred letter. They say the original agreement in June 2017 was terminated in May 2019 and was acquired by Cabot UK, however in the original letter Mortimer Clarke sent me it says the debt was assigned to Cabot UK in September 2018 ( which my credit reports also showed until they have just fell off) which means statute barred limit was sep 2024 from when Cabot acquired alone. Let alone the 2 years non contact with Yorkshire previous to that!
they said the account is on hold until they complete a full investigation with the original lender to gather information.
so I guess I just wait it out now??Comment
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Ok so I have just received en email from MC solicitors and it says:
This letter sets out Cabot’s position in response to your dispute and encloses the
following copy documentation:
• Copy of Agreement
• Statement of Account (provided by the original creditor)
• Notice of Assignment
• Statement of Account (provided by our firm)
Background of debt
We are instructed that this debt relates to the Unsecured Loan agreement with Yorkshire
Bank. The agreement was entered into on 06/06/2017, terminated on 12/05/2019 and
bore the agreement number xxxxx. The debt was then assigned to Cabot
Financial (UK) Limited.
Your dispute
We understand that you dispute this debt and believe that it is statute barred.
Our investigation
We confirm that we have obtained and accordingly reviewed a Statement of Account,
provided by the original creditor. A copy of which is enclosed for ease of reference.
You have alleged that the debt is statute barred. Section 5 of the Limitation Act 1980
provides that an action founded on a simple contract shall not be brought after the
expiration of six years from the date on which the cause of action accrued. We are instructed that in this case the cause of action occurred when the agreement was terminated on 12/05/2019. As such, Cabot’s position is that 6 years have not yet passed and so the matter is not statute barred, and Cabot is entitled to enforce the debt.
Conclusion
In light of the above, we believe that you are liable for this account.
Next Steps
We will hold your account for 21 days for you to complete and return the enclosed
Income and Expenditure Form. Please complete the form and provide an offer of
repayment. We require this information to ensure that your offer of repayment is
reasonable and affordable for you.
However, they are saying that the cause of action date is 12th May 2018 but in Yorkshire banks Notice of assignment dated 14th December 2018 it states this:
I am writing to advise you that ownership of the balance due to us in respect of the above account has been transferred.
The parties to the transfer are Yorkshire Bank and Cabot Financial (UK) Limited, part of the Cabot Credit Management Group Limited (Cabot). The date of transfer was 19th September 2018. Your account will now be managed by Cabot.
Payments made to us after 31st July 2018 will be forwarded to Cabot who will apply those payments to your account. Cabot will inform you of the most up to date balance.
So how can they say to me my account with Yorkshire was terminated in May 2019 when they have sent me the notice of arrears saying the transfer was September 2018?? Which one is the correct date of cause??
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Apologies they are saying the cause of action date is May 2019 not May 2018. They say it terminated in May 2019 but was transferred to Cabot in September 2018Comment
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If the correct date of cause should be when the account was transferred to Cabot in September 2018, then it should be indeed statute barred and they have sent me the evidence proving that?
thanks for any helpComment
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Cabot have even sent me a welcome letter dated December 14th 2018 also. So again December 2024 was the statute limit??Comment
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No you mentioned previously to just send the statute barred letter for now. It looks like MC have been in contact with them though as they sent a file with original agreement and notice of assignment from Yorkshire and themselvesComment
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Copy of original agreement*Comment
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Hi echat. What are your thoughts on the cause of action dates please?
What is my best next move please?
thanksComment
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You are disputing the date the account was terminated, one date makes it statute barred, the other means the debt isn't statute barred, so you have to get evidence from Yorkshire. There is evidence, your credit file, seems to show that the earlier date is correct. See what evidence you can get from the CRA's.Originally posted by SWA View PostComment
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So I need Sar to Yorkshire, how do I go about doing that please? Do I need to send £1 I’ve read somewhere previous I think? This will confirm the date it was transferred to Cabot, and if that date was 2018 then it is statute barred? Am I getting that right?? The date on the letter Yorkshire headed letter says the transfer was September 2018 to Cabot. It looks like Cabot marked missed payments from then and defaulted the account in May 2019.
as far as the credit files show, it seems on credit karma and clear score that the default date is May 12th 2019. It looks like Yorkshire never defaulted it, Cabot did. Yorkshire loan doesn’t exist on my closed accounts, almost as if Cabot took over that file. It shows as missed payments from January 2019 until May when Cabot defaulted. But in reality Yorkshire should have defaulted way before that as the last payment to Yorkshire was November 2017!! They have sent the statement over from Yorkshire to me. It’s all very confusing to me.
do I need to inform MC that’s what I’m doing as they have said the account is on hold for 21 days for me to fill in expenses form.
Thank you so much for your replies echat. They really do help me with the stress of this.
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a) Do I need to send £1 I’ve read somewhere previous I think?
No SAR's are free, providing they don't have to do too much work, make sure you get Proof of Postage.
https://legalbeagles.info/library/gu...ccess-request/
b) This will confirm the date it was transferred to Cabot, and if that date was 2018 then it is statute barred? Am I getting that right??
Yes, it will show the transfer, but transfer isn't the same as 'termination', so no it wouldn't be statute barred.
c) The date on the letter Yorkshire headed letter says the transfer was September 2018 to Cabot. It looks like Cabot marked missed payments from then and defaulted the account in May 2019.
That sounds correct, but you are saying 'accounts have fallen off your credit file'.
d) do I need to inform MC that’s what I’m doing as they have said the account is on hold for 21 days for me to fill in expenses form.
The SAR might take some time. Ask them for an extension in writing, ask for 45 days so you can get further information and advice.Comment
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