Loan bought by DCA whilst making reduced payments

[Captain Haddock]

Re: Loan bought by DCA whilst making reduced payments

Further info: this was a personal loan for my own use and not an overdraft or a loan offered/received to pay off such.

[teaboy2]

Re: Loan bought by DCA whilst making reduced payments

Right well it sound like it has been sold then. But what you need to find out is whether cabot are going to be providing the same service under the terms and conditions of the CCA, as the bank did. Which as it appears no default was issued, means that if they do not and are simply trying to collect the outstanding debt, then they are not entitled to it see no default notice was issued. Though if the bank terminated it under contractual provision or without the need for a default, then Cabot can not issue you a default notice, nor can the put a default on your credit file.

[Guest]

Re: Loan bought by DCA whilst making reduced payments

Further info: this was a personal loan for my own use and not an overdraft or a loan offered/received to pay off such.

You probably already have a default on your credit file then?

D

[Captain Haddock]

Re: Loan bought by DCA whilst making reduced payments

Thanks, guys.

TBH, I am prepared to keep paying back the loan, but my concern is that this lot of dogs will start to request increased monthly payments, though their letter states that the agreed repayments now need to be sent to them. I'm fine with that but I will not put up with them hassling me for increased payments.

I need to write to the bank itself about this and copy Crapbot in, though I will now make the payments to the DCA from now on.

[Captain Haddock]

Re: Loan bought by DCA whilst making reduced payments

You probably already have a default on your credit file then?

D

I checked it last week with regard to other, seperate DCA monkey business but I didn't look at that account.

[Guest]

Re: Loan bought by DCA whilst making reduced payments

It may be that they have not registered a default if you have made an arrangement to pay before matters got to serious.
Sometimes its a mixed blessing when they don't, because a record of the ongoing payments as per your arrangement instead.
This can last well over the six years the DN would otherwise have been on your file.

D

[Captain Haddock]

Re: Loan bought by DCA whilst making reduced payments

I'm pretty sure there was nothing against that account on my file, not marked in red as defaulted.

Just written to them and also gonna write to the (ex)bank for further clarification. Hope they don't start playing silly buggers, though.