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Hi All, Im hoping for some advice. Following a victory with Coop bank - writing off £2.5k and giving me compensation 
I checked my credit file to find BC have sold a £3.6k debt to Cabot. The entry states I defaulted in 06/2008
The thing is BC were aware of a ID fraud on the account - which they removed and I was in dispute with them re the remaining balance as a few hundred pounds of charges had gone onto the account whilst they investigated the fraud. From memory the original amount due was around £1.4k max. Because of the fraud I insisted on an audit of my account to show the true balance due but BC refused. I didnt see why I should pay for a fraud they hadnt prevented and told them to get stuffed. Anyway, eventually Cabot got involved and I last spoken to Cabot in 2008 and explained the fraud and they were quite helpful. They confirmed BC were aware of fraud and I didnt think anymore of it as they were going to go back to BC about the audit. I now find that not only have Cabot listed the debt at the original figure of £3.6K but they are adding interest at £70+ monthly and the balance is now £5.4k. Thing is - I havent heard from Cabot in the last 18 months or so...I obviously dont agree with the debt and want the debt removed from my file. I dont dispute part of the balance is due by me but after charges etc are taken off there will be little left of the original balance due, I havent yet asked for the charges back.
Can I get your thoughts on what I should do, Im aware that there are masses of charges on the CC so thats one option to reduce the balance but my main concern is the way the debt was sold on - even though it was disputed and the way the balance is increasing. I thought maybe I could SAR BC and see what happens, whether they send a copy of the fraud declaration etc. Alternatively I could go direct to Cabot and challenge re security fraud admission - BC were aware of dispute and shoud not have sold on etc.. Or I could do nothing until they chase, as Im sure they will eventually...
Where do I stand and what's my best action?
I checked my credit file to find BC have sold a £3.6k debt to Cabot. The entry states I defaulted in 06/2008 The thing is BC were aware of a ID fraud on the account - which they removed and I was in dispute with them re the remaining balance as a few hundred pounds of charges had gone onto the account whilst they investigated the fraud. From memory the original amount due was around £1.4k max. Because of the fraud I insisted on an audit of my account to show the true balance due but BC refused. I didnt see why I should pay for a fraud they hadnt prevented and told them to get stuffed. Anyway, eventually Cabot got involved and I last spoken to Cabot in 2008 and explained the fraud and they were quite helpful. They confirmed BC were aware of fraud and I didnt think anymore of it as they were going to go back to BC about the audit. I now find that not only have Cabot listed the debt at the original figure of £3.6K but they are adding interest at £70+ monthly and the balance is now £5.4k. Thing is - I havent heard from Cabot in the last 18 months or so...I obviously dont agree with the debt and want the debt removed from my file. I dont dispute part of the balance is due by me but after charges etc are taken off there will be little left of the original balance due, I havent yet asked for the charges back.
Can I get your thoughts on what I should do, Im aware that there are masses of charges on the CC so thats one option to reduce the balance but my main concern is the way the debt was sold on - even though it was disputed and the way the balance is increasing. I thought maybe I could SAR BC and see what happens, whether they send a copy of the fraud declaration etc. Alternatively I could go direct to Cabot and challenge re security fraud admission - BC were aware of dispute and shoud not have sold on etc.. Or I could do nothing until they chase, as Im sure they will eventually...
Where do I stand and what's my best action?