Hello and a little help please for loan debt

Hi
I was a member on the old forum (different user name), glad I have found you again.
So I (we) have a bank debt of around £13k, loan took out in 2012, defaulted in 2015. It got passed around DCA (westcot then moorcroft) acting on behalf of the bank. We just ignored the letters and phone calls (still got all the letters filed in date order etc). Then in July 2017 it got sold to Cabot (letter from bank saying it has assigned all of it's rights etc over to Cabot), Cabot seem a little more persistent than the others and have sent a few letters (and a have rang loads), the last letter has threatened potential legal action. So I think now is the time to deal with them.
So I have got the new 3 letter process and have a few questions:

The loan was under both our names (not married at the time), so do we both need to send the 3 letter process? Everytime they send a letter we have one in each of our names (same date etc).

On the 1st letter it references that 'On three (3) occasions I have requested from (OC)' which I didn't, do I just delete?

On letter 3 it says 'Documentation has now been requested nine (9) times to prove this claim.' I am confused at this as is it not 3 times?

On the top of letter 1 , I presume the '[b]NOTICE-IN WRITING[b]' b's just mean make it bold?

When it's Cc'd to the collection dept, do you actually send another copy to them?

Any other pointers would be good. Many thanks

Hi & welcome,

I think it would probably be best ,if they are sending you both separate letters ,that you both respond with separate letters . As they are doing this it will mean they will try to claim against you individually .

Regarding the amount of occasions requesting docs, this is assuming that you started the process from the beginning starting with the original creditor.
just insert the number of times you have requested the docs from anywhere,so if you have never requested before just delete that one.

As above the 9 times relates to the amount from the start of the process.

Head them all NOTICE-IN-WRITING ( I dont use bold anymore or deviate from standard text ,as you start getting in the realms of Glossa. When you use all caps as above always put a hyphen between the words.

Just send to CEO & cc .collections ,thats all you need.

Hi Daveiron

Many thanks for the clarification.

What's people opinions that this loan is over £10k and taken out after 2007?
I have been going through lots of threads on here (and the old site) and am I correct in thinking that if this did go to court we've not really got a good chance of winning? As in they will just reconstitute any agreement and the judge would accept etc?
The court process also seems to be a different one too i.e. more expensive? If we lost would we have to pay their solicitors fees?
Has anyone won for over £10k at court? or did you settle before hand and if so did they do a deal?
I just don't want to drag this out and then end having to pay anyway.
Any input would be greatly received.
Thanks

if this is for over £10k, then if it goes to court you will be liable to pay their costs if you lose.

there are so many questions and answers here, yes they can try and produce a recon. agreement but depending on what they produce you would put forward an argument, there are many more documents they would also need to provide.

much much more info. is needed to properly advise.

Thanks for your reply Waylander62

Yes I appreciate your comments and suppose there's loads of variables, I will send letter one to get the ball rolling and see what happens.
I know I asked this above, but the loan was in joint names and it was suggested that both of us send the letters, has anyone just put both their names on one letter (different surnames). I just want make sure we get the first one correct.
Thanks

Hi, Just belt & braces really, At the end of the day they will go after which ever one of you they think they will have success against.

Suppose you and your partner split up (believe me these things can come out of the blue) one of you may have all the documents and the other may end up with none .
Personally for the sake of an extra £ 1.74 per notice I would always do it individually .

Hi

Ok I'm just looking at getting the 3 letter process sent and received another letter from Cabot today saying they are referring this to Restons.
My questions is when sending the 3 letters do I send the S77 as well?

Request under s.77 Consumer Credit Act 1974

Dear Sirs
Re: Account / Reference Number: xxxxx / xxxxx

With reference to the above agreement, I require that you provide me a true copy of the credit agreement.

I am aware that section 77(1) of the Consumer Credit Act 1974 sets out clearly what is required to comply with my request and quote “shall give the debtor a copy of the executed agreement (if any) and of any other document referred to in it”. For clarification I require a copy of the agreement, any terms and conditions from the time when the agreement was executed, the current terms in force or in the alternative the notices of variation of each term as approved in Carey v HSBC Bank Plc and a copy of the cancellation notice if the agreement refers to “Your Right to Cancel” within it. I also require a statement as laid out also within section 77(1)(a-c). If there weren’t any terms and conditions then please confirm this in your response.

I am entitled to receive the information on request. I enclose a payment of £1.00 per account, which represents the fees payable under the Consumer Credit Act 1974. This request is a statutory request and should not be construed as any acknowledgment or payment towards any account.

I understand that Consumer Credit (Prescribed periods for Giving Information) Regulations 1983 (SI 1983/1569) at Regulation 2 sets out the required time frame for compliance with this request as being 12 working days from receipt.

In the event that you do not consider yourselves the “creditor” I direct you to s189 Consumer Credit Act and the leading case of Jones v Link Financial Ltd [2012] EWHC 2402 (QB) (22 August 2012) which confirms that assignees of an account are the creditor and must comply with statutory duties.

In accordance with the new FCA guidance, if the copy of the executed agreement is reconstituted, then I expect you to confirm this is the case and to confirm what steps were taken to provide this reconstitution as set out in the FCA handbook CONC 13.1.4 (2).

I look forward to hearing from you
Yours faithfully

I can't see a ref to this in letter one, also I have looked for an answer to this and can't seem to find one.

Many thanks

Yes, send it to Cabot direct along with £1 fee"

Hi Tiggy

Do we send along with letter 1? or just the one (S77) above first?

Thanks

homerishome wrote:Hi Tiggy

Do we send along with letter 1? or just the one (S77) above first?

Thanks

Entirely up to you, but if you send both send them separately, you have to send a £1 fee with the S77 letter.

I sent letter 1 off to Cabot and a couple of days later I received a letter (and pack of info) from Restons basically threatening court action if I don't pay!
So there was a:
Covering letter.
FAQ's list which has items like 6 'Am I entitled to see a copy of the actual agreement?' Answers is No with some other blurb under that etc.
Letter with all account ref on and amount outstanding.
Financial Statement (to be completed).
Information sheet with contacts on for debt advice etc.
A reply form with some tick boxes A to I, these to indicate if I agree I owe the debt, I'm paying or not and so on.

What is the best thing to do now? do I still send letter 2 to Cabot on the 10 days? or do I send letter 1 to Restons?
As can be seen before on this post, this loan was taken out 2012 and defaulted in 2015 it's also over £10k.

Any advice would be greatly received.

p.s. do you want this thread moving to the debt section?

Hi
Can anyone help me with the post above?
Thanks

Have they sent you

Copy of the agreement
Statements from the account
Default Notice
Notice of Assignment
Deed of Assignment (they won't have sent this they never do)

Those are the key documents - but particularly the agreement.

Hi Tiggy
No they haven't, I only got a letter from Cabot some (many) months ago that they had bought the debt. Now Restons have been appointed and sent the above!
Who should I respond to? Cabot / Restons, both the same letters? what should I send?
Thank you

Hi All

I'm starting to get a little worried that I'm running out of time to reply to Restons, what are people thoughts on the best way to reply / proceed with them?

Thank you

Am I at this stage meant to send letter 1 to Restons? if so is it the DCA one or the debt purchaser letter?
Thanks

What are peoples opinions, do I:
Send the S77 letter above to Restons and send a copy to Cabot? (is it best to send a cheque or PO for the £1)
or send letter 1 to Restons (already sent that to cabot as above)?

Any pointers would be greatly received.
I could really do with a bit of guidance on this one please.

Ok Just recived this letter, now I'm pretty sure letter 1 didn't ask for the deed! Also not sure where the 2012 ref came from as It didn't default until 2014?

Yes, send the CCA letter with the £1 fee PO. Copy the request to Restons.

See if they threaten legal action then send them the pre action conduct letter.

Do you think I should address some of their points in the letter they sent?
Also point out, that we are trying to resolve this and we would be taking the same action even if they do initiate court action etc?
Or just send the S77 letter?

homerishome wrote:Do you think I should address some of their points in the letter they sent?
Also point out, that we are trying to resolve this and we would be taking the same action even if they do initiate court action etc?
Or just send the S77 letter?

It's entirely up to you how you decide to respond to them, I've always used the 'engage as little as possible school' but not everyone's the same.

Hi All

I sent off the pre-action conduct letter to Restons and also sent Cabot the S77 letter with the £1 PO and Cc'd it to Restons. (which they say Cabot haven't received)
I have received the attached letter from Restons, it's not too dissimilar to the one before as in keeps telling me to check my own records for the paper work asked for? also they keep saying that I don't deny the debt etc.
So they have not sent me any proof at all, apart from this bs letter. I haven't heard back from Cabot as of yet.
Furthermore I have never received a Notice of Assignment from Cabot? What exactly should a notice of assignment look like / contain?
Can someone please read their letter (attached) and help me out, as it seems like they are talking a complete load of rubbish.

Many thanks

There's no set rule on what a notice of assignment should contain specifically, only that one should be sent.

Cabot have to prove their claim against you hence why Restons are saying 'you should have the documents' because they haven't got them so they're going to resort to trying bully you into paying up.

This is their biggest weakness, they start 10000's of claims without the correct documentation in the hope you'll just roll over and pay.