Cabot risk Manager - bet he's busy...

[debt_mountain]

I have just been to visit the Cabot website for a nosey, it has changed since I last visited.

 

Found there is a page on each of the main men. This is their Risk Management head man, guess he is busy with the "rogue debtors".

 

 

Cabot Financial Group

[ScarletPimpernel]

Is he new? If not, he's not very good at his job - otherwise how could he let them buy all those statute-barred debts and all that other unenforceable, uncollectable rubbish.

 

Or should his job title really be 'Risk Of Being Found Out As Not Compliant With Statute And Regulations Manager'?

 

Mind you, their website also contains such risibly untrue nonsense as this:

 

We pride ourselves on our loyal staff and very low staff turnover.

 

and this:

 

We ensure our detailed compliance policies are stringently enforced.

 

I think I shall continue to maintain a high index of suspicion regarding anything Cabot say.

[debt_mountain]

I had a good read and "chuckle" at a lot of the new content. It is also titles Cabot financial Group, I seam to remember it was cabot financial europe last time, but I could be wrong.

[Seahorse]

The poor guy has only been in the job since May. Give him a chance.

[Seahorse]

This will make you giggle too...

 

Notes to editors:

Cabot Financial is a market leader in consumer debt purchase in the UK, formed in 1998.

A key differentiator for Cabot Financial is its “life of asset” approach combined with an ethical philosophy of treating customers with respect. This methodology ensures that Cabot Financial produces market leading collection rates whilst preserving the underlying customer relationships.

Cabot Financial’s principal investor is Nikko Principal Investments Ltd, alongside Barclays Private Equity and the management team.

In November 2006, Cabot Financial was a runner-up in the National Business Awards, which are open to all UK businesses with entrants representing around a third of UK GDP.

Cabot Financial is licensed under the Consumer Credit Act and is a registered Data Controller under the Data Protection Act. It is a member of the Credit Services Association and the Consumer Credit Trade Association.

It is also a member of CAIS, Insight and Share, the credit bureau reporting platforms provided by Experian, Equifax and Call Credit respectively.

[NailPost]

Bear in mind that the term "CUSTOMER" in Cabot's ethos is not the person being chased for a mythical debt but the bank or finance house who sold it to them or asked them to chase it up in the first place.

[Seahorse]

No, no, no. Look at their "customer" website.

 

We think of you as our customers and will treat you as such. In return, we ask that you work with us to allow us to help you.

Our goal is to talk to you, so that we can understand your financial position and agree with you the best way to clear your account.

Contact between us will take place by phone and letter. Only on rare occasions would we need a face to face meeting.

 

 

We're all their happy "customers".

[ScarletPimpernel]

Sadly, the Advertising Standards Authority's remit doesn't extend to websites, so Cabot are free to churn out this unremitting drivel - not that the rules set by regulatory bodies have ever stopped them lying anyway.

 

Still, I bet they won't be adding a link to Facebook...

[Seahorse]

Still, I bet they won't be adding a link to Facebook...

 

Nor me. But plenty to Bebo and MySpace:

 

Personalities at Cabot Financial Blog

 

HEHEHEHEEHEEEEEeeeeeeeeeeeeeeee.

 

(Sadly, some of the links no longer work as some people have become very shy.)

[ScarletPimpernel]

Nor me. But plenty to Bebo and MySpace:

 

Personalities at Cabot Financial Blog

 

HEHEHEHEEHEEEEEeeeeeeeeeeeeeeee.

 

(Sadly, some of the links no longer work as some people have become very shy.)

 

The scrapings from the bottom of the gene pool, clearly.

[Seahorse]

I think some of them sneaked into the gene pool while the lifeguard had his back turned.

[pmhcfc]

This will make you giggle too...

 

Cabot Financial’s principal investor is Nikko Principal Investments Ltd,

[Seahorse]

Ah, yes. Owned by a poor victim of the US Credit Crunch. How many billions written off? How many heads rolled?

 

And all because the greedy gits thought they could lend safely to "can't pays". When the reality should be obvious..... If enough Can't Pays then Don't Pay, and you flood the market with cheap repossessed houses, what's going to happen to house prices in general?????? And the economy will....???

 

Exactly. Silly beggars, ain't they? And they call us rogues!!!!

[FANTASY CHARGES]

http://www.consumeractiongroup.co.uk/forum/cabot/124639-glance-who-owns-what.html

 

POST 2 ON this thread is it new news or old news ???

 

good quotes like

About 5% of accounts in the UK are suitable for litigation. The point is to go after can-pay or can-pay-more accounts, says Locke, referring to debtors who refuse to pay or who won’t pay an appropriate amount relative to their financial wherewithal.

 

“You have to balance where you stop spending” – when the effort has become unproductive – “and analyze where you should spend more, based on the expectation of liquidity,” he says

[make them aktiv runners]

5% suitable for litigitation, wonder how much ofthe remaining 95% are on CAG?

 

On the latter, do any DCA realise at the earliest opportunity to actually stop spending?

[FANTASY CHARGES]

5% suitable for litigitation, wonder how much ofthe remaining 95% are on CAG?

 

On the latter, do any DCA realise at the earliest opportunity to actually stop spending?

note the bit about

 

the individual creditor

meaning iyouare a cagger the decision to stop spending will be made much earlier

 

 

 

 

 

Speaking of liquidity, recovery rates in the UK can vary broadly depending

 

 

on the asset class and the individual creditor, Still at CPL says.

 

“The trend is for creditors to work cases harder and harder in the initial

 

phases,” he says. “As a rule of thumb, expected collection rates at month 12 on

 

bank debt would be 8%-14%;

telecom, 30%-50%;

utility, 10%-22%;

and mail order [retail catalog], 10%-16%.”

Often,

a primary agency will be allowed to retain an account for only six months

and must obtain a promise to pay within

that time or the account will be removed

to a second agency or sold

 

 

 

 

 

 

[Seahorse]

Not in the case of Cabot, unfortunately. They seem to be under the impression that it's good to go to court with a worthless piece of toilet paper, and an unprepared local brief on occasion.

 

I do think they are learning though.

[FANTASY CHARGES]

Not in the case of Cabot, unfortunately. They seem to be under the impression that it's good to go to court with a worthless piece of toilet paper, and an unprepared local brief on occasion.

 

I do think they are learning though.

 

 

However :-- "food for thought"

 

The district judges in my court try to meet regularly in order to discuss matters of interest and to preserve a degree of consistency. ‘Bouncing thoughts’ off each other is a useful exercise and one in which the circuit judges are only too willing to participate. We have a lunch meeting of all the judges at least once a week.”

 

http://www.judiciary.gov.uk/about_judiciary/roles_types_jurisdiction/judicial_profiles/day_in_life_of/district_judge.htm

 

 

 

http://www.judiciary.gov.uk/about_judiciary/roles_types_jurisdiction/civil_justice/index.htm

 

 

http://www.dca.gov.uk/judicial/desjudfr.htm#NE