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Hi, I have an overdraft from an old bank account. I stopped using the account back in 2017 and have had not contact at all with it. I thought it would be statute barred by now, however I can see on credit report that it is marked as defaulted in Nov 2019. which means NO 2025 will be 6 years. The Debt has been sold to Cabot Financials and they are now writing to me saying they will be coming to my home if I dont reply to them. Can they do this? And also, does this mean they will be a ccj coming very soon. Trying to keep low for a few more months. Any advice?
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Cabot cannot issue you with a CCJ (County Court Judgement). Only courts can issue a CCJ.
You can only get a CCJ if Cabot take you to court and the judge orders you to pay the debt and you don't pay it within 30 days of the court hearing. And if you are ordered to pay the debt as long as you pay it within 30 days of the court order being issued you will not get a CCJ on your credit record.
Is it likely that you would have any defence if Cabot issued court proceedings? If not then if/when they issue a letter before action you might be best advised to pay it without going to court if you are able to. Of course if you can't afford to pay it there are other options (negotiating a repayment terms etc). If Cabot get as far as issuing a formal letter before action [PAPLOC - 'Pre-Action Protocol Letter of Claim'] it is likely they will start court proceedings if you ignore it and do nothing.
Approximately how much do you owe?All opinions expressed are based on my personal experience. I am not a lawyer and do not hold any legal qualifications. -
Thank you for explaining this to me. I owe £950.Comment
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It’s a pain when they do not default according to the ICO guidance but the date on your file does not mean that is the date it was actually defaulted . Do you have any correspondence giving a default notice? If Cabot start threatening you MIGHT want to send a DSAR to the bank asking for all details to see if there is a default notice. Don’t rush though, see what happens.Comment
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Cabot Financial cannot come to your property, who is your debt with?Comment
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