Welcome loan from early 2000's sold to cabot - still paying £1PCM - should i stop?

[Bazzamandanga]

I took out a Welcome Finance unsecured loan over 10 years ago.

Can't remember exactly when could be 10/12/14 years ago.

Ran into difficulties and so ended up paying £1 a month which I still do.

 

Always paid it after it was passed to different debt collection agencies.

Been paying to Cabot for as long as I can remember.

 

My question is

do I still have to continue paying?

What would happen if I stopped paying could Cabot take me to court or do anything to damage my credit rating?

Welcome Finance never took me to court so never got a CCJ.

 

Any advice on what my options are would be greatly appreciated?

 

thank you.

[dx100uk]

have you updated welcome or cabot to where you live NOW in writing if you've ever moved?

 

dx

 

[Bazzamandanga]

I don't recall updating them, however, I am pretty sure they send me statemnet each year. I am guessing them find out from the Electoral roll?

[dx100uk]

So you have moved since it was sold to cabot?

I would protect against backdoor ccj by sending cabot a cca request, that put them to strict proof they hold enforceable paperwork and officially inform them of your correct address.

 

it cant comeback on your file no, .

 

Have you every statement from day one? Bet the debt is littered with all manner of insurances and £100's in unlawful penalty fees. 

 

how much was the loan for?

how much is still owed?

 

Dx

[Bazzamandanga]

I received the attached from Cabot saying they havent been able to obatin the information requested. They have replied before 12 days.

 

Can i ask please they say the account is unenforceable however after checking the national debtlines fact sheet it say they can still register information on a credit agency and issue a default notice if payments are missed.

 

I am worried because I wouldnt want antything adverse putting on my credit file. It is now clean with a good credit score. there is nothing on my creidt file about this old debt.

 

I having been paying £1 per month since I defaulted years ago. Could they now issue a defauly notice if I stop the £1 per month?

 

Could they still find my CCA and chse me again?

 

What is the best thing to do contine paying or stop?

 

Thank you in advance for your help.

IMG_7630.pdf

[dx100uk]

On 30/08/2022 at 21:58, Bazzamandanga said:

What would happen if I stopped paying could Cabot take me to court or do anything to damage

my credit rating?

 

On 31/08/2022 at 10:55, dx100uk said:

it cant comeback on your file no, .

 

11 minutes ago, Bazzamandanga said:

Can i ask please they say the account is unenforceable however after checking the national debtlines fact sheet it say they can still register information on a credit agency and issue a default notice if payments are missed.

 

I am worried because I wouldnt want antything adverse putting on my credit file. It is now clean with a good credit score. there is nothing on my creidt file about this old debt.

only one DN can ever be issued.

 

12 minutes ago, Bazzamandanga said:

I having been paying £1 per month since I defaulted years ago. Could they now issue a default notice if I stop the £1 per month?

 

nope

 

stop paying its unenforceable.

 

13 minutes ago, Bazzamandanga said:

Could they still find my CCA and chase me again?

they never did have it and until they do and we check it ....no CCA = NO PAY

 

they've been mugging you for years running the sb date to infinity

 

dx

 

[Bazzamandanga]

Thank you so much for your advice and help, I have now stopped the £1, standing order.

 

if they write to me chasing for a payment.

What do I do?

Don’t really want them still chasing for money as they still it’s still owed

[dx100uk]

if you've sent CCA request and to date they have failed

then are very safe to ignore until they ever do send a letter of claim.

 

you are very green

i suggest you go read a good few 10's of welcome finance threads in this forum.

 

dx