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Debt recovery-Cabot Financial (Europe) /Lloyds TSB

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  • Debt recovery-Cabot Financial (Europe) /Lloyds TSB

    I have an old debt, it was a loan from Lloyds TSB for 8K which was taken out back in December 2007. I could not afford to pay monthly payments due to becoming redundant and the account got defaulted in February 2012 and went to BLS, I believe they are one of the in-house collection teams for Lloyds. I paid them reduced amount for 4 years. Then Cabot Financial have brought a debt off BLS. I had a payment plan with them and was paying them minimal amount each month for about 1 year. I then decided to request a Consumer Credit Act agreement and wrote a letter to them back in November 2017 using the 3-letter process. They replied saying that they received my request and will deal with it. I haven’t heard from them until November 2019 when they called me and asked to arrange a payment plan again. I explained to them that I am still waiting for my CCAA from them. They apologised and said that they will request it from the original lender.
    On 3rd of February 2020 I received my CCAA in the post along with the letter from Cabot stating that I have been selected for a legal action because I am not making payments.
    The next letter came within 5 days stating that I have 21 days remaining until they place my account with solicitors.
    The most recent letter which was sent on 28th Feb stating that I have 7 days until they place my account with solicitors and that they have given me ample notice of the commencing legal action for over a month and I have not taken any action to prevent this.
    CCAA looks legitimate to me. There is a stamp from Lloyds TSB with the date. Loan account number is clearly stated along with my personal details, i.e. name, address etc. Financial info is also there including the loan amount, monthly repayment amount, interest etc. It also has other terms and conditions. It does not have my signature on it but as I applied for the loan online, I don’t expect one to be there.
    Can Cabot now file for court action so late in the day? (I know defaults must be applied with 6 months of non-payment, but am I right in thinking CCJ's are up to 6 years after)?

    I checked my credit report and there is no mention of this debt whatsoever.
    I am about to apply for a mortgage and the last thing I need is CCJ on my file. I’d rather arrange a payment plan or offer them a one-off reduced payment to close this account. However, I read somewhere on here that if you make the reduced one-off payment they can come back in future and ask for payment again?
    I would really appreciate your advice on this matter.

    Many thanks in advance!*
    Last edited by kinetik; 9th March 2020, 11:22:AM. Reason: Forgot to mention
    Tags: None

  • #2
    The outstanding balance of the debt is $2000

    Comment


    • #3
      Originally posted by kinetik View Post
      I have an old debt, it was a loan from Lloyds TSB for 8K which was taken out back in December 2007. I could not afford to pay monthly payments due to becoming redundant and the account got defaulted in February 2012 and went to BLS, I believe they are one of the in-house collection teams for Lloyds. I paid them reduced amount for 4 years. Then Cabot Financial have brought a debt off BLS. I had a payment plan with them and was paying them minimal amount each month for about 1 year. I then decided to request a Consumer Credit Act agreement and wrote a letter to them back in November 2017 using the 3-letter process. They replied saying that they received my request and will deal with it. I haven’t heard from them until November 2019 when they called me and asked to arrange a payment plan again. I explained to them that I am still waiting for my CCAA from them. They apologised and said that they will request it from the original lender.
      On 3rd of February 2020 I received my CCAA in the post along with the letter from Cabot stating that I have been selected for a legal action because I am not making payments.
      The next letter came within 5 days stating that I have 21 days remaining until they place my account with solicitors.
      The most recent letter which was sent on 28th Feb stating that I have 7 days until they place my account with solicitors and that they have given me ample notice of the commencing legal action for over a month and I have not taken any action to prevent this.
      CCAA looks legitimate to me. There is a stamp from Lloyds TSB with the date. Loan account number is clearly stated along with my personal details, i.e. name, address etc. Financial info is also there including the loan amount, monthly repayment amount, interest etc. It also has other terms and conditions. It does not have my signature on it but as I applied for the loan online, I don’t expect one to be there.
      Can Cabot now file for court action so late in the day? (I know defaults must be applied with 6 months of non-payment, but am I right in thinking CCJ's are up to 6 years after)?

      I checked my credit report and there is no mention of this debt whatsoever.
      I am about to apply for a mortgage and the last thing I need is CCJ on my file. I’d rather arrange a payment plan or offer them a one-off reduced payment to close this account. However, I read somewhere on here that if you make the reduced one-off payment they can come back in future and ask for payment again?
      I would really appreciate your advice on this matter.

      Many thanks in advance!
      Any advice? Please

      Comment


      • #4
        Could somebody advise please?

        Comment


        • #5
          Was there PPI late payment charges on the loan I would get a subject acess request if there was cover on your loan you can claim for this, as you was made redundant the bank should have helped you more, I would get all information and make a note of charges etc.

          Comment


          • #6
            Have you had any further communication from* Cabot since this thread started - sorry missed your earlier posts. The creditors have six years from last payment/acknowledgment of debt to enforce. So if you defaulted in 2012 and maintained small payments till 2017, the account is nowhere near the limit, so yes they can initiate legal action.*
            The '3 step' letter system has been utterly disproven and may aggravate the situation, but at least you did get a CCA off to them. The default happened in 2012, so that's why the account is not showing on your file, it will have expired 2018/19. The last thing you want now is a CCJ, so keep us informed.*
            "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

            I am proud to have co-founded LegalBeagles in 2007

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            If you wish to book an appointment with me to discuss your credit agreement, please email kate@legalbeaglesgroup. com

            Comment


            • #7
              Originally posted by BellKat
              Can you share more details?
              Who? In regard to what?
              "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

              I am proud to have co-founded LegalBeagles in 2007

              If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

              If you wish to book an appointment with me to discuss your credit agreement, please email kate@legalbeaglesgroup. com

              Comment

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