Cabot Financial - Lloyds Bank

[bezbo13]

Re: Cabot Financial - Lloyds Bank

Morning Nem,

Thanks for your detailed reply. I shall sent the letter recorded delivery today and let you will keep you updated.

The debt relates to an overdraft and not a credit card, do I still send the same wording just amend it to state 'account' and not 'credit card'. Sorry for sounding stupid, I just want to make sure I do it right.

Thanks again for your assistance in this matter.

Bezbo

[Diana M]

Re: Cabot Financial - Lloyds Bank

I shall sent the letter recorded delivery today and let you will keep you updated.

The debt relates to an overdraft and not a credit card, do I still send the same wording just amend it to state 'account' and not 'credit card'. Sorry for sounding stupid, I just want to make sure I do it right.

You're not sounding stupid at all. You're sensibly checking a letter for accuracy and appropriateness before sending it.

That letter drafted for you refers to them not complying with your CCA Request but I can't see any posts on your thread which say you sent one. Did you?

I can see from post # 3 on your thread onwards that you have consistently said that this Lloyds debt relates to an overdraft not a credit card so the LB s.77-79 CCA Request template letter would not be applicable.

That letter then accuses Cabot of attempting to "mislead" you, which is strong stuff particularly since you've been advised to send it to the CEO of the business.

I think you should think twice before you send that letter.

Do you recall getting a Final Demand calling in the overdraft?

Was it an arranged or unarranged O/D?

Di

[bezbo13]

Re: Cabot Financial - Lloyds Bank

Hi Di,

Thank you for your reply.

I didn't send a CCA request as I recall being advised that it wasn't necessary.

So far as I'm was an arranged overdraft and I'm not sure if a final demand was issued. I would imagine it was at some point.

Thanks

Bezbo

[Diana M]

Re: Cabot Financial - Lloyds Bank

Finally received a reply from Cabots who provided a notice of assigment together with a bundle of stayements. I have attached the covering letter.

I've looked at that letter from Cabot in post # 25 (13th January).

In Paragraph 6 it says "these payments indicate that you are both aware . . " which implies that this may have been a joint account. Was it?

If so are they only writing to your husband after calling only him not you (or both)?

Post # 1 on 31st July 2016:

my husband had just received a letter from Cabot. It's asking him to contact them to arrange repayment

Whose name is on the Notice of Assignment which you have been sent?

I have a reason for asking

Di

[bezbo13]

Re: Cabot Financial - Lloyds Bank

The notice was to my husband as it was an account in his sole name.

Regards
Bezbo

[bezbo13]

Re: Cabot Financial - Lloyds Bank

Hi,

We've just received a letter from Reston Solicitors. Ive attached the same. Really dont want Court proceedings to be issued. Is it worth arranging a payment plan?
Thanks
Bebzo

[bezbo13]

Re: Cabot Financial - Lloyds Bank

Hi Nem,

I have not sent the letter you recommended yet as i wanted to ensure the correct wording was used. I didn't request a CCA request as i was advised it wasnt necessary as it was an overdraft.

Im starting to really panic now after receiving the letter today from the solicitors. Ive been an emotional wreck since the postman delivered it. Cant risk a CCJ as we need to try and remortgage but we dont have funds avaliable to clear the debt.

I anxiously await your reply.

Thanks
Bezbo

[MIKE770]

Re: Cabot Financial - Lloyds Bank

[MENTION=87380]Diana M[/MENTION]

[Amethyst]

Re: Cabot Financial - Lloyds Bank

If a CCJ will really bugger things up then you might be able to keep it out of court by arranging a payment plan with Cabot. They would get you to do an income and expenditure form and arrange monthly payments. They could still go to court if they weren't happy with the amount and thought they would get more (or security ) through court, but it should give you a good breathing space at least till after you've got your remortgage sorted.

As it is an overdraft the CCA request isn't needed (or valid). The overdraft wasn't defaulted till 2012 and a payment was made after then so there's no argument for statute barring.
Does the overdraft, so far as you recall, include a lot of charges (for bounced DD's and the like) ?
Do you recall much about the circumstances of defaulting the account?

[bezbo13]

Re: Cabot Financial - Lloyds Bank

Hi Amethyst,

Thanks for your promt reply. I would have thought there would have been a lot of charges as my husband was very laid back about things like this, hence why ive taken over his financial affairs. As far as im aware he lost his well.paid job and couldnt make the payments and just buried his head in the sand.
Shall i ask him to ring Cabots to arrange a payment plan. Hes on an average wage with 5 children to support so theres hardly anything left at the end of the month. I may be able to pay some on my credit card but that would only be £1500.
Thanks.
Bezbo

[Amethyst]

Re: Cabot Financial - Lloyds Bank

Understandable, I've done that before. You won't be paying anything on your credit card to the debt - I don't believe they are allowed to accept payments like that anyway. If your IE only shows a teeny amount then that is what they have to take, they have quite strict rules and won't let you pay anything that makes it unaffordable/unsustainable and leaves you short for life and priority debts.

Hang fire for Di to come back on the thread and see if she has any other angles to get this sorted without risking a court judgment first. But you could start putting together an IE sheet - https://nedcab.cabmoney.org.uk/quickfs.asp is a good start so you have a good idea where you are starting from.

It may also be worth sending a subject Access request to Lloyds for transaction history on the account so you can see how much of that debt is actually unfair bank charges.

[bezbo13]

Re: Cabot Financial - Lloyds Bank

So no contact is to be made with cabots or restons today? Do you have a template for a subject access request please? Thanks Bezbo

[Amethyst]

Re: Cabot Financial - Lloyds Bank

I'll get one sorted for you - No don't contact Restons or Cabot just yet xxx

[bezbo13]

Re: Cabot Financial - Lloyds Bank

Thank you so much. Husband is finally in painc mode too and wants to contact them today. Ive managed to hold him off until he comes home from work. Hopefully Di will reply before then. Bezbo

[MIKE770]

Re: Cabot Financial - Lloyds Bank

[MENTION=61310]diana[/MENTION]M