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    • Ok, I've got it now   Loan 1 – 08/08/2000 No PPI   Loan 2 – Refinance of Loan 1 – 13/11/2001 Borrowed                                            £2,880.00 PPI premium for loan 2                  £   440.50 --------------------------------------------------------- Total Loan 2 Amount                      £3,320.50   PPI proportion of loan 2 = £440.50 / £3,320.50 * 100 = 13.27%   Monthly repayment = £99.89   Therefore, PPI element of repayment = £99.89 * 13.27% = £13.26   4 monthly repayments made (on 22/12/2001, 22/01/2002, 22/02/2002, 22/03/2002) which equates to total PPI paid on this loan: 4 * £13.26 = £53.04   PPI carried over to loan 3 below = £440.50 (original PPI premium) - £53.04 (amount repaid) - £97.56 (PPI rebate) = £289.90     Loan 3 – Refinance of Loan 2 – 09/04/2002 Borrowed                                            £2,470.10 PPI premium from loan 2              £   289.90 --------------------------------------------------------- Total Loan 3 Amount                      £2,760.00   PPI proportion of loan 3 = £289.90 / £2,760.00 * 100 = 10.50%   Monthly repayment = £100.00   Therefore, PPI element of repayment = £100.00 * 10.50% = £10.50   1 monthly repayment made (on 22/05/2002) which equates to total PPI paid on this loan: £10.50   PPI carried over to loan 4 below = £289.90 (PPI premium carried over from loan 2) - £10.50 (amount repaid) = £279.40     Loan 4 – Refinance of Loan 3 – 07/06/2002 Borrowed                                            £4,720.60 PPI premium from loan 3              £   279.40 PPI premium for loan 4                  £   223.15 --------------------------------------------------------- Total Loan 4 Amount                      £5,223.15   PPI proportion of loan 4 = (279.40 + £223.15) / £5,223.15 * 100 = 9.62%   Monthly repayment = £250.00   Therefore, PPI element of repayment = £250.00 * 9.62% = £24.05   7 monthly repayments made (on 22/07/2002, 22/08/2002, 22/09/2002, 22/10/2002, 22/11/2002, 22/12/2002, 22/01/2003) which equates to total PPI paid on this loan: £168.35     Total PPI Paid Loan 2                   £  53.04 Loan 3                   £  10.50 Loan 4                   £168.35 -------------------------------- Total PPI Paid   £231.89 Date of Charge Description Amount of Charge Number of Days Elapsed Interest at 8% Simple                     22/12/2001 PPI payment of loan 2 (Payment 1 of 4) £13.26 6415 £18.71 22/01/2002 PPI payment of loan 2 (Payment 2 of 4) £13.26 6384 £18.62 22/02/2002 PPI payment of loan 2 (Payment 3 of 4) £13.26 6353 £18.53 22/03/2002 PPI payment of loan 2 (Payment 4 of 4) £13.26 6325 £18.45 22/05/2002 PPI payment of loan 3 (Payment 1 of 1) £10.50 6264 £14.47 22/07/2002 PPI payment of loan 4 (Payment 1 of 7) £24.05 6203 £32.82 22/08/2002 PPI payment of loan 4 (Payment 2 of 7) £24.05 6172 £32.66 22/09/2002 PPI payment of loan 4 (Payment 3 of 7) £24.05 6141 £32.49 22/10/2002 PPI payment of loan 4 (Payment 4 of 7) £24.05 6111 £32.33 22/11/2002 PPI payment of loan 4 (Payment 5 of 7) £24.05 6080 £32.17 22/12/2002 PPI payment of loan 4 (Payment 6 of 7) £24.05 6050 £32.01 22/01/2003 PPI payment of loan 4 (Payment 7 of 7) £24.05 6019 £31.85 AWARD CALCULATION         Monthly Payment of PPI £231.89             8% Simple Interest £315.12             Total   £547.01            
    • Question please, if you switch to the free Experian ac when you login within the 30 day free trial period, will the subscription of £14.99 be taken? Do you have to cancel the Experian ac entirely to stop the subscription?   Thanks to all
    • You need to beef it up a bit.... your 11 is tad tame and limp wristed ...you are appalled ...shocked and horrified ...get the word screen shot in and reproducing data without your consent.It has no connection to the claim or add any weight to their evidence in convincing the court  thats charging extortionate fees once a contract is terminated is fair or legitimate and the claimant is put to strict proof to disclose a breakdown of the fee and quantify its losses.   And yes thats a very important valid point you raise by way of you took out this contract in store with ID, which is false, I bought it online with no ID.Show the court that they talk nonsense and know absolutely nothing about the debt they bought for peanuts and that the contents of their statement contain numerous errors and false information......cast doubt.
    • Suggest that you also send a letter to your Insurance company as well.   A third party can simply enter a registration into the Askmid system to find Insurance details.     But mistakes can be made, Enter one letter wrongly and the wrong Insurers receive the claim. If the make of the car was for example a Ford Focus, it is possible a local dealer sold several with very similar registration plates. So even the mistake is not always found by asking the third party to confirm make/model of the car which caused the damage.   Your Insurance company would not advise you of the third party details, due to data protection. They might provide a registration number and advise the third parties Insurance company details. This would give you opportunity of contacting the third parties Insurers to advise of the error that appears to have happened.   Dented door not a problem. Looking for damage that relates to the alleged accident event.   Yes if you were not contactable, the Insurers may have paid the claim. But you could still have made a complaint or took other actions to resolve the matter.
    • Well thats okay...lets see if they comply with the rest of the directions on time.
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TT75

Cabot Financial

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Hi everyone,

 

This is my first posting here, have read lots of threads and have gained alot of knowledge from doing so!

 

My subject is about Cabot Financial.

 

Back in 1997, i took out a unsecured personal loan with RBS (Royscott back then) for £2500 over 3 year term with sickness insurance.

 

Started paying my monthly instalments, but shortly after this i had an industrial accident involving my back which stopped me from working for nearly 2 years ending with me winning an out of court settlement against the employer.

 

In this time i had contacted Royscott who advised me that ALL payments will be paid via my insurance cover. Left it at that.

 

About 6 years ago, i received a letter from Cabot Financial stating that my debt from Royscott has been passed to them and wish to agree monthly repayments for this account. Total balance £4600!!!.

 

Firstly i contacted RBS who do not hold any records of my loan details on file anymore.

 

Finally contacted Cabot who insist that this is paid or legal action will commence.

 

This has been ongoing for some time now. How do i go about this? As far as i was concerned, the debt was partly paid then written off following my unemployment.

 

Any help would be much appreciated

 

Thanks.

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Welcome. :)

 

Firstly you'll notice that such is the volume of "business" that Cabot do here they've got their own sub-forum. If you PM a moderator they'll move your thread and you'll probably get better advice.

 

Couple of questions: have you admitted this alleged debt in writing or made any payments in the last six years? If not then the alleged debt is almost certainly statute barred and unenforceable.

 

Secondly, did you ever get anything in writing from Royscott advising you about no further payments? If not, would they still be able to provide something to that effect?

 

In a nutshell, it's Cabot's job to prove there is a debt oweing. It's not up to you to disprove it. There are avenues we can persue if the alleged debt isn't statute barred.

 

The golden rule is NEVER phone debt collectors, no matter how tempting it may seem. Keep everything in writing, as you may well need evidence if it ever goes to court. You'll certainly need evidence for all the complaints you'll be making! ;)

 

It sounds like you've nothing to worry about, but Cabot do have a habit of not listening. Have a look in their sub-forum and you'll see what you're up against. Worry not, though, you're in the right place!


  • Barclays: WON!!! It took four months but was totally worth it!
  • Cabot: I'm still waiting for an enforcable agreement, more than a year after requesting it. Go on, Uncle Ken, take me to court if you dare. You know you want to!
  • Elephant.co.uk: VICTORY - they admitted there was no debt!
  • Ashbourne Management (gym membership): Finally got my default removed and out-of-court settlement; I'm not finished with them yet!

<--- If I've been helpful please remember the scales ;)

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