Help needed - Cabot

[oscarconc]

Hi everyone, i have recently joined, and have been overwelmed with all the information that is provided here. I am in a situation with Cabot who have started to say my account is in arrears although i pay a Debt Management Co a set amount each month to distribute to 4 other companies also. The debt management company do not seem to be letting Cabot know that is all they are getting. Also the Original debt was with Morgan Stanly then all of a sudden in June I receive a letter from Cabot telling me my account is arrears, no welcome letter as i have read that some people seem to get!!! Stupidly i paid the arrears amount and now they are saying that its in arrears again as the Debt management Co are not paying what cabot want. Basically i am unsure what to do next or how to deal with this, any help suggestions would be greatly appreciated

[ScabHunter]

When you say debt management company, are you referring to Payplan or CCCS? If not, get out of there now.

 

Anybody offering "debt management" on a commercial basis is simply going to add their own charges on to anything else they make you pay back.

 

It is far better not to be involved with any debt management plan, at least in the long term.

 

Send a CCA request to Crapbot.

 

You say you are paying four other companies as well as Crapbot. What do these alleged debts relate to? If they are loans or credit cards, send them a CCA request as well.

 

When you know what they hold in the way of agreements, you will be in a far better position to know how to handle the situation.

 

SH

[oscarconc]

Hi SH, thanks, im new to all this but really want to sort out. I am with Allclear for the debt management, the others they pay are Odraft from Barc now with another company also a loan account from Barclys now with CSL, and egg and RBS credit card, together with crapbot. I have been looking at many threads and i am now confused as to what i should be sending and to whom. You mention a CCA....... Allclear distribute the monies each month to the relevent companies. I am slowly sinking as i havebeen with Allclear for nearly 6 years, when they took evrything over they said i would be debt free in 4!!!!!! How nieve i was!!!! Suggestions greatly appreciated.

OC

[ScabHunter]

From the Allclear website -

 

Your first month’s payment will go towards the implementation costs of setting up the programme and negotiating with each of your creditors. We will also have an ongoing administration cost which is included as part of your monthly payment.

 

In other words, you are flushing your money down the John. The ONLY debt management plans to consider are CCCS and Payplan, and, quite frankly, I would advise you to stay away from those 99% of the time.

 

The only time a DMP is worth considering is if you have a large number of creditors, and feel like you are sinking. They can take the heat off for a short time. Even in these cases, you will eventually have to break free and handle it yourself if you ever want to be free of the chains around your neck.

 

Normally, if someone is with CCCS or Payplan, I would advise a considered and gradual withdrawal. In your situation matters are different, as your money is being diverted away from any useful purpose on an ongoing basis. The only advice I can give is get out of there as soon as you possibly can.

 

All of these accounts are covered by the Consumer Credit Act 1974, although the overdraft is not covered by some of the critical sections which demand an enforceable agreement. The first step after escaping from the DMP leeches is to send a CCA request to whoever is managing these alleged accounts. In fact, correct that, get the CCA requests off as soon as possible.

 

Only when you know what they hold in the way of agreements can you then decide the best course of action.

 

Whether you send a CCA request for the overdraft account is up to you. It isn't covered, but I have read of people on this forum sending CCA requests for overdraft accounts, and having the DCA put the account on hold. It is unlikely to work, but you could give it a try. If you do, it will be better to wait in this case until you have escaped from the DMP.

 

With the overdraft, is it likely that there will be substantial unlawful charges on the account? If so, send a Subject Access Request to Sharklys to get your statements.

 

The one "negative" consequence of escaping from that useless and expensive DMP will be that you will have to handle your own paperwork. I put negative in quotes, because it is really a positive. Only if you are handling your own paperwork can you be sure that it is being handled properly. This will involve you having to create a proper filing system to keep all letters relating to each account together.

 

You will likely see a vast increase in the amount of mail you receive, although, if you are anything like me, you will get plenty of junk mail already. What I have done is put a black bag down at the bottom of the stairs, into which any and all rubbish goes. This means any letter which is not needed in the filing system. Also, the envelopes from the letters which are needed in the filing system can be discarded immediately, unless they are evidence of something being sent through the post e.g. a default notice or statutory demand.

 

Only letters which need filing come up the stairs, and go straight into the appropriate file in chronological order. This sort of system will probably help you adjust to handling your alleged debts on your own, which you absolutely need to do if you are ever to escape from the awful situation in which you find yourself.

 

SH

[Sabrina470]

Good advice from Scabhunter who has a vastly more useful knowledge of all this than me. I have been cheered up immensley by the advice of him/her and others on here. I know nothing much of DMAs but when all is said and done their money is also made from debt, as is that of DCAs. To me that puts them all on the same side. So to get rid of them, as SH says, take matters into your own hands, you will get constant help and advice on here, and much quicker from anyone you are paying to so called help you. You'll get there like the rest of us. I have had dealings with Aktiv kapital, Wescot and Buchanan Clerk & ********s (it still begins with W) without the help of this site and it has been expensive. I am currently working on sorting a bigger debt to someone else and getting far firther than I did on my own. They are very good.

[oscarconc]

Thanks....... I am unsure as to where to obtain the CCA letters there seems to be many floating about on here. So send these to all concerned even those where the debt has been passed on like the OD and Loan that used to be Sharklys?

[Fred Bassett]

Thanks....... I am unsure as to where to obtain the CCA letters there seems to be many floating about on here. So send these to all concerned even those where the debt has been passed on like the OD and Loan that used to be Sharklys?

 

Hi oscarconc,

 

You can find the CCA letter here: http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html#post162367 - Letter N.

 

You need to make sure that you have proof of delivery and it is advisable not to sign it. Send this letter to whoever is dealing with the debt at the moment, whether that be the orginal creditor or an agency. Also, you will need to enclose a £1 postal order.

 

Once you get a reply, scan it and post it up here after removing personal details and barcodes.

 

It is advisable to start a new thread for each creditor.

 

You will now need to create your own debt management plan. If you need any help with this, please shout. Depending on the age of your debts (and it seems like all of them are 6 years +), you may find that some of them are unenforceable. Don't build your hopes up too much though.

 

SH is right, by the sound of it, you are not being well served by your debt management company and you would be well advised to ditch them as soon as you can and go it alone. You will get plenty of advice on here - most of us are in the same boat or have been at some time.

 

Good luck.

 

Regards.

 

Fred

[oscarconc]

Hi Guys, ive been away for a while for personal reasons, now im back, im detrermined to get all this sorted and delt with. Thanks for your advice so far........ I just want to be sure that i am doing the right thing. When i send the CCA letter to all concerned, still keep paying Allclear for the short term, to pass this money onto the people money is owed? Thanks

[oscarconc]

hi people, im panickin now....... cabot have sent me a default notice, i do not understand this as Allclear are paying them everymonth. I also check my credit file and the cabot are saying that its in arrears. Need to get these CCA letters off asap? But do i still continue to pay Allclear? Help please:(

[silverfox1961]

Morning,

Get those CCA letters off ASAP and while you're at it, send off for your credit file from Experian,equifax or Call Credit(I suggest Experian). You may find that you've already been defaulted by your original creditor and Cabot can't default you a second time

Remember, Don't sign anything and send recorded delivery.

 

There is mixed opinion on whether to keep paying however, why pay allclear to sort this out when you can do it yourself. Once you know where you stand with regard to valid agreements you could start with CCCS or Payplan to pay the valid ones. It will also mean more money in your pocket.

 

This is my opinion on whether to pay or not, is to carry on until the OC/DCA default on your CCA request.

Others will say stop paying but at the end of the day it is down to you

If Cabot can't supply an agreement, they will go quiet but they may not go away.

 

fox

 

PS, sorry i didn't read your post properly. does your credit report have a default from your OC?

[Fred Bassett]

hi people, im panickin now....... cabot have sent me a default notice, i do not understand this as Allclear are paying them everymonth. I also check my credit file and the cabot are saying that its in arrears. Need to get these CCA letters off asap? But do i still continue to pay Allclear? Help please:(

 

What was the date of the default letter and the date by which you to pay the arrears? Also, did you keep the envelope?

 

Fred

[oscarconc]

Hi SF thanks, i just checked my credit file, it looks like Morgan Stanly never default this, i have printed file dated 2007 which say Morgan stanley, now my file say Cabot and its 2 months in arrears, which should not be as Allclear have been making the payments to them.

 

Hi FB, yes have still got the envelope, the default was dated 28 Jan 09 need to pay 61.41 by 17/02/09. Which is ****ed me off, as Allclear should be dealing with this and stopping things like this, thats what i pay them £50 a month for!

 

Cheers guys Osconc

[oscarconc]

Hi people, its gone quiet...... I have sent the CCA letters off today.... still worried about this default though.......

Oscarconc

[lunar jim]

The ONLY debt management plans to consider are CCCS and Payplan, and, quite frankly, I would advise you to stay away from those 99% of the time.

 

The only time a DMP is worth considering is if you have a large number of creditors, and feel like you are sinking. They can take the heat off for a short time. Even in these cases, you will eventually have to break free and handle it yourself if you ever want to be free of the chains around your neck.

 

Normally, if someone is with CCCS or Payplan, I would advise a considered and gradual withdrawal.

 

Describes my situation perfectly! I've been with CCCS for three years; they helped take the initial heat off when we started to sink due to continuous charges. Two years ago I claimed back the bank charges on three bank accounts; it cleared off the overdrafts so that was three debts down.

 

I was looking at my debts a while back and realised that it was going to take years to pay them off at that rate. Just before Christmas a debt got passed from Cap1 to Robinson Way. I've not delt with a DCA before so I googled for more info and that led me here. This prompted me to CCA the DCA (and Cap1 on a couple of accounts they still hold) and I'm going through that process now.

 

CCCS have been good to me so far, they certainly took away a whole heap of stress at the time. They've been pretty understanding when I've asked to put payments to creditors on hold too, due to the CCA disputes.

[lunar jim]

Hi SF thanks, i just checked my credit file, it looks like Morgan Stanly never default this, i have printed file dated 2007 which say Morgan stanley, now my file say Cabot and its 2 months in arrears, which should not be as Allclear have been making the payments to them.

 

Hi FB, yes have still got the envelope, the default was dated 28 Jan 09 need to pay 61.41 by 17/02/09. Which is ****ed me off, as Allclear should be dealing with this and stopping things like this, thats what i pay them £50 a month for!

 

Cheers guys Osconc

 

Hang on, are yo saying you pay £50 a month *plus* whatever you pay to be distributed to your creditors e.g. £150 a month, £50 of which goes to Allclear, and £100 getting split among the people you owe?

 

If that's the case, ditch these sharks and phone the CCCS. They'll do the same job for you, for free (they are a charity).

[oscarconc]

Thanks Lunar Jim.

 

I just been reading the default notice again, there is a section that states that the account may be referred to a DCA, i thought Crapot were a DCA?

[oscarconc]

Today i recieved 2 letters from Crapot, 1 for notice of arrears and 1 acknowledging my CCA request. Although they do state that they are not obliged to provide this information, but pleased to help! They have also returned the PO and anticipate to provide this within 12 days. Also on this notice it looks like they think i owe more than when they sent me a statement in december even though the DMA are still paying them.

 

FredBasset/Silverfox idid reply to your questions, any help you can give is much appreciated.

 

Cheers

Osconc

[silverfox1961]

Hi,

Standard reply from Cabot. Have a look at this thread:

Dare i mention Cabot - The Consumer Forums

 

You will see a striking similarity to your own.

 

With regard to the arrears letter, pass it on to allclear. let them do some work for their money. Cabot shouldn't be contacting you with demands.

 

fox

[oscarconc]

Thanks Fox, what about the default letter they sent? Also im confused about SAR what is this? Thanks Osconc

[the italian guy]

I to have a problem with Cabot, and I suspect I will also have a bad credit rating.

In 2004 I decided to retire to Italy, and set about cancelling my credit cards. One of them RBS Access sugested that I simply reduce my credit limit to £500.00, they would put it into hibernation and I could then re-activate it at a later date if I wished. This I did. About a year later the present owner of my old home sent me a letter from Access stating that I was in default and that I owed ( I think about ) £75.00. I contacted them and they said that the debt related to the Credit Card Insurance that was debeted to that card. I was confused about this as I understood that the card was in hibernation. Anyway the lady said that I could contact the insurers and get the debt cancelled, and they, RBS would cancel their charges. As it apeared that the insurance was in fact part of RBS the lady put me through and the debt was cancelled.

This year trying to book a hire car on a trip to the U.K,I found it was difficult without a credit card, so I contacted Access. It seems that the cancelations were never cancelled and My debt of over £900.00 was now owened by Cabot. Neither Access or Cabot will send me any details. Access say everything was handed over to Cabot, and Cabot want money up front before they will give me any details.

WHAT DO I DO

[oscarconc]

Hi Italianguy, im not qualified to advise, there are many people on here able to give help and advise. First i would suggest that you start a new thread for your issue with Crapot that way people can leave you advice and help specific to your situation. Maybe you should send the CCA request to Crapot 1st and see what they say, no point dealing with them on the phone they talk a load drivvel and only wind you up.

Osconc

[laccal]

I am also getting these letters and i pay via payplan.

 

I contacted them because I have an agreement with them and have been paying well over a year and this started to panic me as I knew they were gettin the money, but all of a sudden they started the letters re default, termination, etc

 

After phoning them,they said that Goldfish never defaulted the account so by law they are now doing it, although they are happy to acccept the proposed payments they have to default it as goldfish did not do the job properly.

 

I did say to them shouldn't Goldfish be doing this but they said something about a law change in Oct and it needed to be done by them.

[oscarconc]

Hi Laccal, yes that is exactly what crapot told me, the law changed in October...... not sure if they do have the power to issue default. Also i nver had anything from Morgan Stanley telling me that they had sold the debt on.

Osconc

[laccal]

Hi Laccal, yes that is exactly what crapot told me, the law changed in October...... not sure if they do have the power to issue default. Also i nver had anything from Morgan Stanley telling me that they had sold the debt on.

Osconc

 

 

Same here!! Mine was a Morgan card BUT Crapot never knew that and presumed it was a Goldfish Card, Thats how clever these people are!!

 

I also never rec. anything from Morgan!! (or goldfish;-))

 

I await someone with more knowledge than I to state if this is correct or indeed legal just in case this ever goes to court

[oscarconc]

Received reply form Crapot the original lender is experiencing delay in retrieving info from their archives. As a gesture of goodwill they are putting my account on hold. Very kind of them................. so what happens to the default that they sent? Also does anyone know if what Mrogan Stanly did with this debt is OK? I was never told they were selling it on.

Thanks Osconc