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I was paying Sainsburys a token sum each month, they froze interest and charges and the (rather large) outstanding balance was decreasing each month. I requested a CCA and they sent a copy of an application form, in good faith I continued with the token payments.
Last year they flogged my account to Cabot, I advised them I was still awaiting a copy of my original CCA from Sainburys, they put account on hold whilst they contacted them. In the post arrived a Reconstructed Agreement, which is flawed in many ways, and is certainly not a document that I would have signed at that time.
I advised Cabot of this and they stated they would ask Sainsbury's for a copy of the original agreement. I am still waiting, and Cabot are still adding interest (I am not paying them). There is already a default on this account which willd drop off in 3 years time. It would not become statute barred for another 5 years because of the payments I made to Sainsburys.
How can Cabot be allowed to add interest to this account when they don't have a copy of the original agreement which may or may not state that interest can be added?
All the money I paid Sainsburys has now been eroded away and the balance is increasing on a monthly basis.
Should I write to them, again, and tell them to cease adding the interest? (Although sure they would ignore this anyway)
My worry is that if they take this to court the outstanding balance could be huge, and I don't think I'll ever be able to clear it.
I did have a previous account which was flogged to Cabot but they advised me the original lender said they could not provide a copy agreement, no interest was added to this one and they stopped updating my credit report 2 years ago although it still shows on there.
Any help and advice would be much appreciated.
Many thanks
Last year they flogged my account to Cabot, I advised them I was still awaiting a copy of my original CCA from Sainburys, they put account on hold whilst they contacted them. In the post arrived a Reconstructed Agreement, which is flawed in many ways, and is certainly not a document that I would have signed at that time.
I advised Cabot of this and they stated they would ask Sainsbury's for a copy of the original agreement. I am still waiting, and Cabot are still adding interest (I am not paying them). There is already a default on this account which willd drop off in 3 years time. It would not become statute barred for another 5 years because of the payments I made to Sainsburys.
How can Cabot be allowed to add interest to this account when they don't have a copy of the original agreement which may or may not state that interest can be added?
All the money I paid Sainsburys has now been eroded away and the balance is increasing on a monthly basis.
Should I write to them, again, and tell them to cease adding the interest? (Although sure they would ignore this anyway)
My worry is that if they take this to court the outstanding balance could be huge, and I don't think I'll ever be able to clear it.
I did have a previous account which was flogged to Cabot but they advised me the original lender said they could not provide a copy agreement, no interest was added to this one and they stopped updating my credit report 2 years ago although it still shows on there.
Any help and advice would be much appreciated.
Many thanks
