Link Financial has produced CCA and terminated my account. Credit rating impacted?

[Salient1878]

I requested the CCA for a Lloyds credit card taken out in 2006 and defaulted about 4 or 5 years later. I stopped making payments toward the debt (payments made to Wescor) whilst I awaited the CCA.

Link has produced what appears - obviously I'm not 100% sure - to be a legit CCA (name, address, my signature, etc) along with a cover letter stating: "The account has been terminated. The "current balance" is the total outstanding balance that is due and is payable immediately."

I was wondering if these developments have any impact my credit rating? Is the debt reactivated and "live?" If I settle the debt will that show up on my credit file now?

[echat11]

Hi Sailent1878

Welcome to LB

You defaulted on the account in approx 2010-2011, they would / should have issued a Default Notice.

Send Lloyds a Subject Access Request, they have 30 days to provide all the details on the account.

Make sure you get Proof of Postage

https://legalbeagles.org/library/gui...ccess-request/

[Salient1878]

Thanks for getting back to me.

The account was marked as a default on my file - I had a few around the same period. Since everything dropped off, I have kept everything 100% in order and the plan is/was to apply for a mortgage in the next 12 months.

My aim in requesting the CCA was for them to not be able to find it due to it being 18 - 19 years old and then make a very low offer of settlement. However it took them about a month.

I am looking to establish what the state of play is here:

If I elect to pay the outstanding balance (£1200) in full asap will my current (in other words last 6 years) credit file be impacted?

I imagine I have X amount of time to contact Link- prob 28 working days. If I elect to make an offer of settlement, for example £800 which Link then reject and elect to pursue the debt, would that make the debt live and current?

Essentially, at what stage - if not already - would this debt be reactivated and impact my current credit status?

[echat11]

Thanks for getting back to me.

The account was marked as a default on my file - I had a few around the same period. Since everything dropped off, I have kept everything 100% in order and the plan is/was to apply for a mortgage in the next 12 months.

My aim in requesting the CCA was for them to not be able to find it due to it being 18 - 19 years old and then make a very low offer of settlement. However it took them about a month.

I am looking to establish what the state of play is here:

If I elect to pay the outstanding balance (£1200) in full asap will my current (in other words last 6 years) credit file be impacted?

I imagine I have X amount of time to contact Link- prob 28 working days. If I elect to make an offer of settlement, for example £800 which Link then reject and elect to pursue the debt, would that make the debt live and current?

Essentially, at what stage - if not already - would this debt be reactivated and impact my current credit status?

If you've defaulted and it's already dropped off your credit file.
They can't just add it on to your credit file.
If they wanted to pursue the matter through the Courts, they would need a compliant CCA,
Default Notice and Letter of Assignment, I caveat that by saying Claimants have been
successful without some of those being provided.

Check the agreement for compliance. Update the thread when you've done that.

https://lawzone.legal/when-is-a-cred...0unenforceable.

The debt was bought for pennies, make low offers for a Full and Final Settlement Offer. Make sure you write 'Without Prejudice' on the Offer Letter.

[Salient1878]

Okay. However I'm mindful they've produced the CA within a month and it looks okay to my admittedly novice eyes - it should be attached with personal details blanked out.

There were also two sets of T's and C's - one for each address that I assume Lloyds held for me.

One set of the T's and C's had Lovells name on it and a reference number - I assume that's solicitors. The other didn't.

[echat11]

Okay. However I'm mindful they've produced the CA within a month and it looks okay to my admittedly novice eyes - it should be attached with personal details blanked out.

There were also two sets of T's and C's - one for each address that I assume Lloyds held for me.

One set of the T's and C's had Lovells name on it and a reference number - I assume that's solicitors. The other didn't.

It's an application form, although it has short Terms and Conditions, it has some prescribed terms missing.
I believe it's non complaint.

Pre 2009 banks etc used shortcuts to gain customers, one of the ways was to simplify 'the process' and ditch the requirements of the CCA 1974.
Application form is a classic.