Cabot bought NatWest debt

[warwick65]

Re: Cabot bought NatWest debt

Thanks Warwick.
Did you cca Cabot as soon as they informed you they had purchased the debt?

Hi yes I did, or within a few weeks

If I am honest I do wish I had left it a little while and not been so trigger happy but on the plus side it is now unenforceable until they provide the correct documents. On the down side- I know they exist

You on the other hand have what looks like it may be a pile of ****

All assignment contracts may be different but I have read one between different parties where it says that in the first 12 months the original creditor will help the new creditor obtain documents, after that they are on their own.

I know I am probably giving you way too much info and just confusing the issue, it just doesn't feel right that someone may make a decision 'because Warwick said xyz'

[HelenaTroy]

Re: Cabot bought NatWest debt

Hi yes I did, or within a few weeks

If I am honest I do wish I had left it a little while and not been so trigger happy but on the plus side it is now unenforceable until they provide the correct documents. On the down side- I know they exist

You on the other hand have what looks like it may be a pile of ****

All assignment contracts may be different but I have read one between different parties where it says that in the first 12 months the original creditor will help the new creditor obtain documents, after that they are on their own.

I know I am probably giving you way too much info and just confusing the issue, it just doesn't feel right that someone may make a decision 'because Warwick said xyz'

Thanks Warwick, what I'll do first (as Di suggested above) is send off the SAR request.
I've just been out for a £10 postal order
Then I'll see what appears with the SAR info and take it from there - putting the cca request on hold.

That's interesting what you said about the O/C helping the debt buyer with info requests for one year.

Also above, that was a fantastic result for Di v PRA a few months ago, that could help me also!

[HelenaTroy]

After my last post above in September 2017, I just kept paying my £1 per month to Wescot (for Cabot), then at the beginning of 2019 I sent a CCA to Cabot. Within a few weeks I'd received two letters from Cabot, the first saying that they'd contacted the original credtor and until they heard back from them they couldn't enforce the debt and the second letter stating that the original creditor couldn't find the CCA, and the debt was unenforceable until it ever turned up (or words to that effect).

Now almost two years further on I've never heard anymore from Cabot, and I haven't rocked the boat, and I've kept paying the £1 per month to Wescot, however I have had a phone call from Wescot a few days ago wanting to do a review of my Finances. I told her, not over the phone, so she's going to send the I&E form to me via Royal Mail.

However, my question is, is this the time to offer them a really low F&F, or could that encourage Cabot to make a greater effort to obtain the CCA from the O/C?
Or, as I've seen suggested on this forum, do some banks when they sell the debts to DCAs give the DCAs a certain period afterwards to request CCAs, then when that period is up they no longer assist the DCAs?

[Celestine]

I have seen CCA's turn up from many years since default or sale of debt, I believe there is a requirement to cooperate between the original creditor and the debt purchaser.
It looks like in this case, the agreement is lost or so illegible as to be of no use.
You have two choices: one would be to make a seriously low F&F offer - debts are often purchased for 10% of their face value so bear that in mind.
You could also cease payments and send a letter stating that as soon as they provide the documents you would repay the account but until then it is unenforceable. Unenforceable means that they cannot seek a judgment against you, but they can write/ring and even issue a claim if they want. If you set out clear written communication, their likelihood of trying any such thing is greatly diminished and in any case you would have a defendable claim.

[MIKE770]

wescot by the way can ask you but you do not have to as they are only hopeful collection agents on commissions.

[HelenaTroy]

I have seen CCA's turn up from many years since default or sale of debt, I believe there is a requirement to cooperate between the original creditor and the debt purchaser.
It looks like in this case, the agreement is lost or so illegible as to be of no use.
You have two choices: one would be to make a seriously low F&F offer - debts are often purchased for 10% of their face value so bear that in mind.
You could also cease payments and send a letter stating that as soon as they provide the documents you would repay the account but until then it is unenforceable. Unenforceable means that they cannot seek a judgment against you, but they can write/ring and even issue a claim if they want. If you set out clear written communication, their likelihood of trying any such thing is greatly diminished and in any case you would have a defendable claim.

Thank you Celestine, I'll give it some thought before doing anything.
I actually CCA'd and SAR'd Natwest and both times they sent me a copies of the CCA which were illegible.

[HelenaTroy]

I’ll just reiterate part of my original post #1 from 6th September 2017

’NatWest Credit Card taken out in 1997 - defaulted in 2006 - paying £1.00 per month from 2006 to NatWest - then £1.00 per month to Wescot (who are now managing the account) since 2016.
Received paperwork this morning from Cabot, to say they are now the owners of the debt, but Wescot will still manage the debt, so I've to keep paying the £1 per month’

Since that original post on 6th September 2017 I continued to pay Wescot £1pm on behalf of Cabot.
Even though almost 6 years ago I sent Cabot a CCA request and they replied that the document couldn’t be located and until it is located the debt is unenforceable, I perhaps stupidly continued to pay Wescot £1 per month.

Now in August this year I received letters from both Cabot and Wescot stating that Cabot have taken the debt in house and that I should cancel my payments to Wescot and set up a payment plan with Cabot.

I’ve cancelled my £1 per month to Wescot but have decided not to pay anything to Cabot until they can fulfill my CCA request.
Cabot have already sent me another letter reminding me to send payments to them.
Should I ignore their requests or write or email to them reminding them that the debt is still currently unenforceable
?

Thank you