HSBC OD debt sold to Cabot

[Archangel9]

Well, just got another letter, my other HSBC debt has been sold on to Cabot according to this letter.

they have also provided a letter from HSBC which does not look faked and has been signed

 

Do I need to go through the CCA/SAR request stuff again?

 

Ta.

Archangel9

[tomterm8]

Hi Archangel9, I would CCA them. Not much point in a SAR, as they've only had your details for a couple of days.

 

Remember, don't sign the CCA.

 

I've asked someone to move this to the Cabot forum

[Seahorse]

Same procedure... make them prove they have bought an enforcable debt.

 

Cabot have been known to produce their own "creative" stationery though.

[Archangel9]

Same procedure... make them prove they have bought an enforcable debt.

 

Cabot have been known to produce their own "creative" stationery though.

 

 

Great! Another that likes to lie about stuff :-?

 

Well, HSBC never informed me of this, except for this new letter x2 in the same envelope.

 

Ah well...here goes...

[Archangel9]

Well, I got a reply from Cabot sending back the £1 postal order :o and stating that they don't have to oblige by sending me the info requested, but have contacted HSBC to get it and will contact me within 12 days if they don't get it.

 

I'll post the letter as soon as I can get the thing scanned

[NailPost]

If Cabot have written to you about a debt and you CCA them they are legally obliged to provide you with documentation to prove the debt exists and that they have the right to collect. Theyare also legally obliged to provide a statement of account.

 

You wrote to them properly enclosing the statutory fee. Its up to Cabot what they do with the quidbut as far as the law is concerned the clock is ticking and soon the silly tw**s will default.

 

Remember no paperwork = no debt.

[Archangel9]

Well for chrimbo they sent me another letter stating that they can't "obtain the relevant information" . They also state that they have "re-assigned" the account back to HSBC and that all further queries should be sent to HSBC.

 

So what does this mean?

 

Thanks.

[Seahorse]

NICE ONE!!!! I'd say that this must be a victory for you against Cabot, then. I'd say that they are admitting they are bollixed, so are lumbering HSBC with it. I'd imagine HSBC will be in touch again at some point. EIther that, or they'll try to sell the debt on again. I might be tempted to pre-empt that and get in touch with HSBC first and ask them to explain themselves. Why did they sell an uneforcable and unsubstantiated debt to Cabot, for example. Get the thing into dispute with HSBC right from the start, so you can go straight for the jugular if they try any funny stuff.

[Archangel9]

NICE ONE!!!! I'd say that this must be a victory for you against Cabot, then. I'd say that they are admitting they are bollixed, so are lumbering HSBC with it.

 

Good eh?

 

I'd imagine HSBC will be in touch again at some point. EIther that, or they'll try to sell the debt on again. I might be tempted to pre-empt that and get in touch with HSBC first and ask them to explain themselves. Why did they sell an uneforcable and unsubstantiated debt to Cabot, for example. Get the thing into dispute with HSBC right from the start, so you can go straight for the jugular if they try any funny stuff.

 

Yeah unfortunately! Obviously, I'd rather they didn't bother but anyways...I'm crap at writing letters, there wouldn't be a nice standard letter I could use that would definitely sound a lot more professional than any rant I might end up typing as I get wound up

 

 

Thanks,

A.

[Seahorse]

I'll get my thinking cap on. Unless Curley Ben beats me to it.

[Archangel9]

Bump, nothing from curly?

[Archangel9]

Got a letter from Cabot on Christmas Eve:

 

Your account

Further to previous communications regarding the account detailed opposite.

HSBC has advised us that they won't be repurchasing your account. It's to remain with us. Please note that current accounts aren't regulated under the Conssumer Credit Act. We trust this clarifies the matter and you will be contacting us to arrange repayment.

 

WTF?

 

A.

[Castlebest]

Its taken 12 months to decide this??? I would write back to them stating that they have not provided any of the documentation you have requested and therefore the debt is still in dispute and unrecoverable.

 

If nothing else this should buy you some time to do some further research into the lawfulness of the debt they are trying to recover from you.

 

pete

[Archangel9]

Well, it seems the previous letter from them about this account was dated January 2008, so almost a year.

 

I also didn't S.A.R. HSBC regarding this account nor have I sent them a letter asking why they sold an unenforceable debt to Cabot. Should I do this still?

 

Also, they mention that the CCA doesn't apply to current accounts; this account was entirely overdraft so surely that does, right?

 

Will, try to find something I can meld into a letter for HSBC over the next few days.

 

Thanks,

A.

[johnnymitch]

Hi Archangel 9,

 

I'd be inclined to write to Cabot again , acknowledge their letter and ask them to produce tangible proof that the debt exists i.e. paperwork ... . Don't forget to send it 'Recorded Delivery' - so someone has to sign for it ......

 

If they couldn't produce it before , how can they produce it now? You could also say that, until this is forthcoming this account is 'in dispute' and repayment cannot be arranged or pursued until the dispute is settled .

 

Basically, if Cabot haven't got proof the debt exists they can't collect on it . About the only thing they are right about is that the CCA does not apply to Current Accounts.

Edited January 7, 2009 by johnnymitch
Afterthought ........

[Archangel9]

Hi Archangel 9,

 

I'd be inclined to write to Cabot again , acknowledge their letter and ask them to produce tangible proof that the debt exists i.e. paperwork ... . Don't forget to send it 'Recorded Delivery' - so someone has to sign for it ......

 

As always

 

If they couldn't produce it before , how can they produce it now? You could also say that, until this is forthcoming this account is 'in dispute' and repayment cannot be arranged or pursued until the dispute is settled .

 

Sounds good enough to me

 

Basically, if Cabot haven't got proof the debt exists they can't collect on it . About the only thing they are right about is that the CCA does not apply to Current Accounts.

 

But, does it apply to overdraft facilities?

 

Thanks,

A.

[johnnymitch]

But, does it apply to overdraft facilities?

 

Thanks,

A.

Try this link Archangel , see if it clarifies it for you ....

 

http://www.consumeractiongroup.co.uk/forum/general/94575-cca-overdrafts-final-word-2.html?highlight=overdrafts#post889434

[johnnymitch]

As a follow-up to the above A9.... I would leave HSBC out of the loop for the moment..... see what Cabot comes back with first?

 

A letter to HSBC might just spark a hunt for a document you're hoping they haven't got ......

[Archangel9]

As a follow-up to the above A9.... I would leave HSBC out of the loop for the moment..... see what Cabot comes back with first?

 

A letter to HSBC might just spark a hunt for a document you're hoping they haven't got ......

 

I can only assume that Cabot should have a Notice of Assignment from HSBC? If they don't have this, that's it for them, right? I never received any NoA from HSBC via registered post, which is required from them, AFAIK.

 

Thanks,

A.