Me v Cabot Financial

[Brassed off]

I bought a computer some years ago from Time Computers. Due to unemployment for two years, I was unable to pay Cabot. However, in April last year, I received a letter from them regarding the outstanding amount of £2K.

 

Being unaware of this site, I contacted them and offerd £10 per month which they duly set up. A couple of months later, I noticed that Time Computers had gone bust.

 

Obviously, I am going to CCA Cabot but can anyone tell me, if the original company who I owe to debt to have gone bust, do I still have to pay what's outstanding to Cabot?

[Brassed off]

Just noticed that both letters have a PO Box number in the address:rolleyes:

[Jeff2000]

Hello brassed off,

 

 

Do Cabot claim to now own the debt?

 

Did you receive the so called "hello letter" from them?

 

 

Regards, Jeff?

[Brassed off]

Hi Jeff

 

No - I cannot find any correspondence from Cabot claiming that they own the debt

[Brassed off]

The only letters I have from them were in March last year as the CAB contacted them to advise that I was unable to work due to illness. I seem to have lost anything prior to that - may still be with the CAB.

 

One letter stated that they refer to "previous communications" (probably with CAB) and the other is advising that I have offered to pay £10 per month and showing my bank account details (as I had started work when they wrote to me and was able to afford £10 per month and told them this).

[Jeff2000]

Hi,

 

 

I think you should get in touch with CAB, to see if they have any of the original details etc. Then I would definitely send a CCA request to Cabot!

 

It might also be worth while sending a SAR to Cabot as well! State that you require all relevant information regarding this account on all relevant filing systems!

 

See what that throws up. It should include all letters that they have sent to you in the past!

 

PS. Put "I no longer acknowledge any debt to your company" at the top of each letter that you write to Cabot! Then, from now on refer to it as the "alleged debt".

 

That should keep you going for a little while.

 

Keep us updated!

 

Best wishes, Jeff.

[Brassed off]

Hi Jeff

 

Too late! - have sent off CCA today

 

Will contact CAB.

 

Not sure whether to do the SAR yet or just wait to see what comes back from the CCA?

[Jeff2000]

Hi,

 

 

Not to worry.

 

No agreement, no enforcement!

 

 

Jeff.

[Brassed off]

Cheers Jeff

 

If I posted CCA yesterday, they should get it today. Do I start counting the 12 days from today or tomorrow?

 

BO (didn't realise my unsername initials would be BO lol) - haven't got it though honest

[NailPost]

You did send the CCA letter by recorded delivery didn't you? The clock starts ticking from the day they signed for the letter which will prove to a court that it was received at Cabot Towers. They could claim they never received thes CCA request and without the Royal Mail's chit you can't prove delivery.

 

Cabot are not known for having any documents to stand up a debt other than your name, address and the sum. If they don't provide you with anything after 12 working days + the calendar month write to them, recorded of course, stating that you are unhappy with their (lack of) response and wish to mak a complaint and demand their compl,aints procedure.

 

Cabot must have such a procedure as they are holders of a consumer credit licence. Any attempt to fob you off and you should report them immediately to the Financial Ombudsman. If they send you the procedure follow it to the end and if you disatisfied with their response then you can take your complaint to the FO.

[Brassed off]

Hi NailPost

 

Thanks for the info

 

Sent CCA special delivery so can track it Not daft!!

 

Bet they will be scrabbling for the CCA if Time Computers have ceased trading!! lol

 

Will keep you posted:)

[Brassed off]

On a more serious note - am I right in thinking, if they can't provide the CCA, can I stop paying them?

[Jeff2000]

Hi BO,

 

 

If, after 12 working days, they have failed to provide you with a copy of your executed agreement, the debt becomes unenforceable.

 

You may, if you wish, cease payments.

 

 

Jeff.

[Brassed off]

Jeff, if I stop payments if the debt is unenforceable, they won't be able to send it back to the original company if Time Computers have ceased trading - does that mean it will be wiped out?

[Brassed off]

Received a letter from Cabot today

 

Further to your letter of 5th June 2007.

 

Cabot Financial (UK) Ltd, formerly Kings Hill (No 1) Limited, which is part of the Cabot Financial group of companies, purchased your account from Hitachi Nova and therefore Cabot Financial (UK) Ltd is the legal owner.

 

The rights but not the duties were assigned to Cabot Financial (UK) Ltd in dealing with your account and therefore we are legally entitled to collect.

 

We will assist you in providing a copy of the agreement and statement of account but please not that we are not obliged to as we are not the creditor. In view of the fact that we are not the creditor we are also returning the fee of £1.00 to you as this is not applicable.

 

We enclose a copy of the Notice of Assigment to be forwarded to you (eh?). This letter constitutes written notice of the assignment under section 25 of the Law of Property Act and therefore we have no need to provide a copy of the assignment deed itself.

 

We have requested a copy of the agreement from Hitachi and hope for a swift response, but please be aware that if the information we have requested is archived this can take up to 8 weeks to receive.

 

Below is a statement of account from the date that Cabot Financial purchased this account from Hitachi. If you require further information regarding this account from prior to 25th Sept 2003, we suggest you contact Hitachi Nova directly.

 

It then details the payments I have made since April this year, however from January 2004, there at least £450 worth of interest charges which have been added:mad: .

 

It then says "if we can be of further assistance, please do not hesitate to contact us." - Yeah right!

 

Attached to the letter is another letter allegedly from Hitachi Capital (these are the finance people for Time Computers).

 

The date of the letter is 8th June 2007!!! There are also several errors in the spelling of my name and my address.

 

My name (allegedly!)

My address (allegedly!)

 

Dear XXXXX

 

NOTICE OF ASSIGNEMENT OF YOUR ACCOUNT XXXXXX

 

We are writing to inform you that your account has been sold to Cabot Financial Group P O Box 241 West Malling Kent ME19 4NA.

 

Your statutory rights under the agreement you signed with Nova Retail Financial will remain unchanged. However, you will need to ensure that you direct all of your enquiries and any payments concerning your account to Cabot Financial Group from now on. If you have any questions, please telephone Cabot Financial Group customer services on XXXXXXXX.

 

The outstanding balance is XXXXXXX

 

Caobt Financial Group will contact your shortly about your account.

 

Yours sincerely

 

Then some photocopied squiggle for a name!!

 

Customer Services Department

Hitachi Capital Consumer Finance (Formally (they need to learn how to spell and some grammar! LOL Nova Retail Finance)

 

I should mention here that I never received any notification from Hitachi Capital that my account had been sold to Cabot - this is definitely not a copy of the original letter - it's dated 8th June 2007!!

 

Any comments on this would be really welcome:)

 

Brassed Off

[andrew1]

One thing at a time with Cabot my friend. Firstly, this letter from Hitachi - does it in any way look like it might be something Cabot made up with a John Bull set? or is it on PROPER Hitachi headed notepaper?

[rory32]

Brassed Off,

You may want to look at this thread http://www.consumeractiongroup.co.uk/forum/cabot/96536-help-responding-cabot.html in which a similar letter was produced.

[Brassed off]

Hi Andrew

 

Have studied the Hitachi letterheaded paper - think it is a John Bull set ! Will scan and post shortly.

 

Hi Rory - will look at the "help responding to Cabot" once I've scanned the Hitachi letter.

 

Cheers!

[Brassed off]

Having problems with photobucket!

 

Will post this anyway but don't know if it will show letter

 

[Brassed off]

The date is showing as 8th June but this letter would have been received some time in 2003!

 

They have spelt my name wrong and there are some anomalies in my address too.

[Brassed off]

Cheers Rory - have just read the Cabot thread you mentioned. So the NOA letter is no good as it has the wrong date on. The amount is net of the interest which has been added since then (about £450).

[rory32]

So the NOA letter is no good as it has the wrong date on.

Exactly

[Brassed off]

Is there anyting I can do about the interest they have added?

[rory32]

I don't think you need to do anything about the interest they have added because you won't be paying it.

 

The deed of assignment is an equitable assignment of a chose in action (so is legally irredeemably flawed under the very Law of Property Act they quote).

 

The NOA is legally invalid.

 

They have not demonstrated in any way that they have any legal right to the alleged debt.

 

They have not provided a copy of the original credit agreement.

In McGinn v Grangewood Securities 2002 the Judge has this to say

It follows that in a case where there is no document signed by the debtor which contains all the prescribed terms of the agreement the court has no power to make an enforcement order

[Brassed off]

Excellent - Cheers Rory! So pleased I found this site Will keep you posted on any further info I receive