Amber Loans/Skipton BS sell their customers out!

[MarkusDY]

In 2005 I took out a personal unsecured loan with Amber Loans (part of Skipton Building Society).

 

My account was totally upto date and has not been in arrears. Last November I received a letter from Cabot Financial (UK) introducing themselves as the new owner of my Amber Loan account. Clearly, Amber Loan had ditched me to Cabot along with everyone else who was an Amberloan customer by the sounds of things. Also within this letter I got another letter from Amber Loan explaining that they had decided to withdraw from the unsecured loan market and that I was no longer to contact them as everything had been transferred. I didn't realise until further investigation that Cabot Financial are more known for being a debt collection agency!

 

I think the whole thing is absolutely disgusting!

 

I've had the snotty collection calls from Cabot, but as Amber Loan seem to have decided not to accept any telephone calls etc, I thought I had no choice but to make payments to Cabot. When I called them, they asked if I would like to make an "offer" to clear the £3k ish thats outstanding. Very odd tactics! As I pointed out to the Cabot person, if I had the £3k available I would not have needed the loan from Amber Loan in the first place! I also pointed out that I would expect the majority of the other former Amber Loan customers would be in the same position. I politely declined to "make them an offer" but I did pay them the same as I'd been paying Amberloan as I dont want my credit file going down hill!

 

Anyway, since then, I've noticed that Amberloan has removed all my payment history from my credit file with Equifax and replaced it with a love big fat DEFAULT! I'm fuming!!!! I would expect the same has happened with MyCall Credit as I think Skipton/Amberloan were one of MyCall Credit's few customers.

 

Watch your credit files former Amber Loan customers!!!

 

Any ideas on what to do next are gratefully appreciated. I'm already typing out a strongly worded letter of complaint to Amberloan as we speak.

[GreatWonder]

I wold be sending more than a letter of complaint. If your payments have always been on time, they (or Cabot) have provided incorrect information to the CRA's and this needs changing immediately.

[Monty2007]

If you have a contract with the OC and have maintained all payments then they will be in breach of contract if they have sold the debt on and you are being asked to pay more than that specified in the original agreement. You should make a formal complaint to Trading Standards, the FOS and the FSA. If you have never been in arrears you have a very strong case since there is no reason for you to be defaulted or passed to a DCA. Can you post up your original agreement and remove any personal details.

 

In any case you should send them a CCA request and S.A.R - (Subject Access Request).

[surprise]

Personally I would send them a CCA Letter to see if they can provide a copy of your agreement. You need to send Letter N in the General Debt template letters, send with a £1.00 p/o, recorded delivery. They have 12 working days from receipt of letter to provide a copy of the agreement, if they can't provide you with this they are in default and you can stop paying them until they do provide it, after a further 30 days they have committed a summary offence and you can report them to OFT and TS. There is a Cabot Forum so if you read the posts there you will see what and whom you are dealing with.

[MarkusDY]

Thanks for the advice everyone. Here is a link to the copy of my agreement as requested.

 

Page 1: my1.jpg

 

Page 2: my2.jpg

 

Any further help is appreciated!

[surprise]

I can't see where you or the creditors have signed. Also, regardless of the fact that you have a copy you still should request one from Cabot as if they haven't got a copy then they are in sticky position to pursue the debt and also whether in fact they have a right to collect the debt.

[MarkusDY]

THE SAGA CONTINUES...

 

I sent off a CCA letter to Amberloan directly on 11th Feb (maybe I should have sent it to Cabot but they are so rude I can't bear to speak to them). I've since had a response from Amberloan on 18th of Feb asking me a for a copy of my own credit file to show where they have registered the default. How disorganised are they?!

 

I've replied back with a copy of the info I check with my online Equifax report and now heard nothing since. Am I able to now complain to the OFT as they've had more than enough time to deal with this?

 

I was so insensed with it all I've stopped making payments to Cabot (which I had originally done before I realised how shabby Amberloan had acted in all this and that Cabot are actually a DCA, not another loan company). Cabot have now called me this morning to ask for money and why I've cancelled my Direct Debit and I've told them I've written to Amberloan to check the legality of what they are doing. The Cabot chap just said I doubt they'll reply as they sold the debt to us! How rude!

 

Any advice on my next move is greatly appreciated!

 

Thanx!!!

[Seahorse]

Did you CCA Cabot.

 

If anyone is worried about morals here, look at it this way... Amberloans made a business decision to dump their csutomers. Not to another loan company, but to a company whose sole raison d'etre is to buy delinquent accounts. Old uncle Ken must be rubbing his hands right now.

 

 

OK, so make a similar business decision to refuse to deal with them. You never took a loan out with Cabot, you had no say in the matter, so if Cabot have found themselves with a shed load of unenforcable debts as a result, they'll just put that down to a bad business decision on their part.

 

And so you can sleep easy in your bed at night knowing there's nothing personal in this whole business, and morals don't come into it.

[MarkusDY]

Did you CCA Cabot.

 

If anyone is worried about morals here, look at it this way... Amberloans made a business decision to dump their csutomers. Not to another loan company, but to a company whose sole raison d'etre is to buy delinquent accounts. Old uncle Ken must be rubbing his hands right now.

 

 

OK, so make a similar business decision to refuse to deal with them. You never took a loan out with Cabot, you had no say in the matter, so if Cabot have found themselves with a shed load of unenforcable debts as a result, they'll just put that down to a bad business decision on their part.

 

And so you can sleep easy in your bed at night knowing there's nothing personal in this whole business, and morals don't come into it.

 

I didn't CCA Cabot, but it's in the post today. I guess I was a little daft thinking it would all be sorted with a few letters to Amberloan, but as Cabot will have paid for my info, I guess its going to take more than that.

[Seahorse]

Yup. Forget Amberloan for the moment. It's Cabot that need to be dealt with now.

 

I'm quite annoyed here. How many folks will carry on paying, blissfully unaware of exactly how Cabot earn a crust. I wonder too whether Cabot stick to the terms of the original agreement, or add any sneaky "extras" on. Nothing that shower do would surprise me.

[Newborn]

Letter to Watchdog and your MP might not go amiss.

 

Newborn

[FANTASY CHARGES]

JUST AN IDEA ?

 

on the original loan from amberloan was it written in the terms and conditions that amberloan subscribes to the banking code.

 

the theory is that should it be : then the idea is that you "should be NO worse off " as a result of this absolute assignment

 

on this link which is generally very useful under the heading skipton building society amber loans is still there

 

Banking Code Standards Board

[FANTASY CHARGES]

concerning the sale of the loan that you had from the skipton via amberloan perhaps you would y like to take a guess at how much they paid in the pound.......

 

what do you think ???? 70 pence in the pound ? to quote "old brucie " higher !!! well perhaps not

 

look at this link to see how much the park group sold its loan book to

cl finance limited (part of the lewis group -- which is also in turn part of cattles -- a FTSE 250 company)

 

lets try 16.5% of book value so i wonder what percentage "uncle ken " paid for your up to date loan ????

 

http://www.parkgroup.co.uk/press_120706.php

 

 

"

Principal terms of the Disposal

 

Park, through its subsidiary, Park Direct Credit, has agreed to dispose of its HCC Loan Book and transfer Catalogue Business Contracts to CL Finance Limited on the terms and conditions set out in the Disposal Agreement as summarised in the Circular. No assets other than the HCC Loan Book and the benefit of the Catalogue Business Contracts will be transferred to CL Finance Limited as part of the Disposal. In particular, no premises or equipment will be transferring. Those employees involved in Park’s home collected credit business will also not be transferring to CL Finance Limited.

CL Finance Limited has agreed to pay 16.5 pence for every £1 for all outstanding amounts on the HCC Loan Book at the date of the Disposal Agreement and has agreed to assume all liabilities of Park Direct Credit under certain Catalogue Business Contracts. Amounts already collected from home collected credit customers for catalogue products (under the Catalogue Business Contracts) at the date of the Disposal Agreement totalling £0.7 million will be retained by Park and deducted from the consideration on a £1 for £1 basis.

Park expects to receive cash consideration of £8.0 million on completion of the disposal (“Completion”), before deduction of costs associated with the Disposal.

Park Retail Limited will agree to supply catalogue products to fulfil the transferring Catalogue Business Contracts.

The Circular will set out the principal terms of the Disposal in more detail."

[MarkusDY]

Eventually... after the CCA letter and then several months of getting standard "we're trying to obtain the original agreement from your original lender, please bear with us" letters from Cabot, they finally gave in and admitted that they are NOT able to collect my debt which was originally with Amberloan!

 

I'm so angry with the whole episode, being sold down the river by Amberloan because they wanted rid of their loan business and then finding out I've been sold on to a Debt Collection Agency.

 

I've written a snotty letter to Cabot asking for the money back that I had already paid them (approx £600 when they first took over the debt) as the alledged debt appears to be un-enforceable.

 

Do you think thats cheeky?!

 

I feel its my duty to ask for it seeing as I've been messed around and treated so poorly by Amberloan and Cabot.

[fuzzybobble]

Now you have it in writing that they have no CCA and are unable to continue collection, send a copy to the Credit Reference Agencies, demanding they remove the default. Point out that without a CCA they ar acting unlawfully by holding inaccurate information on your file. Tell that tha you're prepared to take the matter to court if they fail to comply.

 

Also complain to Trading Standards, FOS, OFT and the Information Comissioner.

 

Hit them where it hurts from every angle possible. How they've treated you is beyond terrible and they derserve everything they get for the way they've been treating you.

[2Grumpy]

How about checking to see if the default is still on your credit report.

If it is, and if you have proof that you haven't missed payments then apply for an interest free credit card

When you get turned down ask why

When the reply is Cabots default then sue Cabot & the CRA for libel & damages

A SAR to Amber & Cabot will most likely show that they never sent a default notice

[jed52]

You have all my sympathy Markus. Glad you got a result though! And also try to get every penny back that you have paid to cabot. ( I wouldn't have paid them anything in the first place! but hindsight is a wonderful thing isn't it?) I took out a mortgage with Amber/Skipton BS some years ago and everything was fine for years. Then we were informed that Skipton BS had been taken over by Derbyshire Homeloans and things went downhill from there. I'm not saying it was their fault, but Derbyshire skipped DCA route (probably wouldn't with a mortgage anyway) and went straight to court for repossesion, didn't give us time to get anything sorted with arrears. Lost house in 2004. Anyway, thats my little story about Amber/Skipton/Derbyshire. Good luck. jed.

[MarkusDY]

Thanks for the supportive comments everyone.

 

I should have also mentioned, I did get the default removed from my credit files, but only after some very strongly worded letters to Skiptons head office and getting the manager of customer relations involved.

 

Don't see why Cabot should get to keep the money I gave them seeing as they now can't collect from me anyway.

 

I'm gonna keep writing to cabot and "debt collect back from them", see how they like it!

Edited August 24, 2008 by MarkusDY
typo

[MarkusDY]

This really is turning into a nightmare with these lot...

 

Within the last few days, I've received a letter from Cabot saying that the letter the sent me in July confirming that "they could not provide me with a copy of my credit agreement and therefore the debt would no longer be collected by them", was actually a computer generate mistake!!!!

 

Instead, they are now insisting that they have sent me a copy of my credit agreement just one day before the alledged "mistaken computer generated letter" saying they were not able to provide the agreement was sent.

 

They have not sent me any such agreement!!! They even had the cheek to enclose a copy of the covering letter that they supposedly sent with the copy of the agreement, dated in September this year, but with someone having written on it in pen saying "dated XXth July" etc. How ridiculous! As if I'm supposed to believe that the typed date was wrong and it doesn't co-incide with the date of this latest letter saying everything was a mistake.

 

These people really are taking the p*ss now!

 

In the latest letter, they have very kindly reminded me that I need to pay them for the Amberloan debt they bought (or should the debt amberloan sold on when they couldn't be bothered to have any customers whatsoever anymore!).

 

I'm absolutely fuming about this. Any advice on how I stand now is greatly appreciated.

 

Obviously, they didn't supply the Agreement within the 12 day period after the CCA letter. I'm just amazed at the cheek of the latest correspondance, yet they still HAVEN'T supplied an agreement to this date!

 

[fuzzybobble]

Strongly worded letter to them about not getting a copy of the CCA off them, and you don't believe for a minute that their letter admitting they couldn't provide a CCA was a computer error. Tell them that you refuse to correspond further until they comply with your CCA request.

 

Head the letter with FORMAL COMPLAINT.

 

Then sit back and wait.

 

 

I had this with Halifax where they claimed they had sent a CCA when they hadn't. Instead they farmed my account to Moorcroft within a few days of me reminding them, and them telling me they would send a copy out to me. It ended up with a complaint to Trading Standards and the FOS about both Halifax's and Moorcrofts activites.

Since then, all has been quiet and I've not heard a thing since.

[itsamomentintime]

MarkusDY i understand you are angry but just imagine how Cabot must feel when people stop paying them due to no CCA!! lol!!

 

as you state, they have not sent you the agreement - if they had it they would have sent it with the latest letter.

 

the cold hard fact is hat they are not going to get any money out of you and many many others.

 

no point in getting angry - you have already won.

[fuzzybobble]

Welcome to the no CCA club.

 

My it's getting really crowded. We need a bigger venue to host the no CCA club meetings.

[MarkusDY]

LOL! Your totally right!

 

I will send them a harshly written reply to their stupidity and then leave it with them.

 

Watch out for further developments...

[MarkusDY]

Well... their stupidity prevails yet again...

 

I just checked my credit file online with Experian and notice that Cabot have decided to pop an entry on my credit file stating that I have a credit account with them and its currently 6 months in arrears!!!

 

I'm livid!!!

 

Not only have they not replied to my last letter, pointing out that they didn't actually send me a copy of my agreement within the specified timescale, and that their "faked" copy correspondance was easily identifiable as exactly that, FAKE!

 

Since then, I've heard nothing. Now they decided to mess with my credit file.

 

Not sure what line to take next? Any suggestions greatly appreciated!

[FANTASY CHARGES]

This really is turning into a nightmare with these lot...

 

Within the last few days, I've received a letter from Cabot saying that the letter the sent me in July confirming that "they could not provide me with a copy of my credit agreement and therefore the debt would no longer be collected by them", was actually a computer generate mistake!!!!

 

Instead, they are now insisting that they have sent me a copy of my credit agreement just one day before the alledged "mistaken computer generated letter" saying they were not able to provide the agreement was sent.

 

They have not sent me any such agreement!!! They even had the cheek to enclose a copy of the covering letter that they supposedly sent with the copy of the agreement, dated in September this year, but with someone having written on it in pen saying "dated XXth July" etc. How ridiculous! As if I'm supposed to believe that the typed date was wrong and it doesn't co-incide with the date of this latest letter saying everything was a mistake.

 

These people really are taking the p*ss now!

 

In the latest letter, they have very kindly reminded me that I need to pay them for the Amberloan debt they bought (or should the debt amberloan sold on when they couldn't be bothered to have any customers whatsoever anymore!).

 

I'm absolutely fuming about this. Any advice on how I stand now is greatly appreciated.

 

Obviously, they didn't supply the Agreement within the 12 day period after the CCA letter. I'm just amazed at the cheek of the latest correspondance, yet they still HAVEN'T supplied an agreement to this date!

 

 

IS THIS ANY USE ????

 

172.—(1) A statement by a creditor or owner is binding on him if given under—

section 77(1),

section 78(1),

section 79(1),

section 97(1),

89

section 107(1)©,

section 108(1)©, or

section 109(1)©.