Clydesdale bank overdraft and Cabot

[mazbck]

Hubby had an overdraft with the Clydesdale, he got paid off and hadno money coming apart from benefits which went into my account. Bank closed his account, and we have been paying them back every month without fail. Its only a token amount at the moment but we haven't missed a payment to the bank. Its done through standing order, and itnwas arranged by the financial solutions unit of the bank.

 

Yesterday we got1 a letter from Cabot and it states that they were assigned the debt in the middle of September, and they want the full payment, or arranged a payment plan with them.

Can they do this?

[Andyorch]

They can do it but you have no need to respond.....have you done a DSAR on the account to equate how the debt is made up.......?

 

Regards

 

Andy

[BRIGADIER2JCS]

Hubby had an overdraft with the Clydesdale, he got paid off and hadno money coming apart from benefits which went into my account. Bank closed his account, and we have been paying them back every month without fail. Its only a token amount at the moment but we haven't missed a payment to the bank. Its done through standing order, and itnwas arranged by the financial solutions unit of the bank.

 

Yesterday we got1 a letter from Cabot and it states that they were assigned the debt in the middle of September, and they want the full payment, or arranged a payment plan with them.

Can they do this?

The assignment here is it for Cabot to manage/collect the account or have Cabot acquired it by purchase.

 

Checking credit reference files asap would be a good idea.

[mazbck]

It just says they were assigned the debt on 18/9, and all payments have to be made to them, but I already have a payment plan in place and we hafent defaulted at all. Also paying back a loan to them as well, and not missed a payment for that either, but its only the smaller debt they have given over to Cabot

[citizenB]

If there was a payment plan in place then it has to be honoured.

 

Have a read of the following.

 

http://www.consumeractiongroup.co.uk/forum/content.php?840-Stop-your-bank-or-lender-breaching-their-instalment-agreement

[BRIGADIER2JCS]

It sounds to me that the account has been defaulted and sold to Cabot.

The arrangement to pay must be continued by Cabot.

[mazbck]

We havent defaulted, not our end anyway, and can prove it as its paid by standing order through my bank

[BRIGADIER2JCS]

The 'payment plan' will have resulted in a default being placed by the creditor, any payment plan resulting in a reduction in the contractual payment required is likely to result in a default.

[mazbck]

Ok just off phone to Cabot, had no option but to talk to them, and I asked them repeatedly to make sure this call was being recorded, anyways, the bank has sold the debt to them including the loan which I mentioned earlier, we have payment plan in place at an affordable rate to which we can afford monthly and since it was in place with the bank they were happy (or so I thought) and we never missed a payment.

 

So 'John' from Cabot goes through an I & E with me and it works out we have £20 each month left over that he wants us to [pay to them!!! Not happening, I asked them 4 times for bank details as I was happy paying the affordable amount of £5 a month for each debt

 

So what's my plan of action now, do I ask them to prove the debt, and ask for CCA's then figure out after that.

 

I accept the debt is ours and we want to pay what we can afford, which isnt much when hubby only works part time, and Im now registered disabled, but we are not burying our heads in the sand as you can see as we had a payment plan in place

[BRIGADIER2JCS]

To put it simply you cannot be left with no funds each month just to pay a tin pot DCA.

 

Be firm inform Cabot that £5 is all they are getting and perhaps they would like to try their hand in court and £1 pcm.