Cabot Financial - Chasing for 10 year old debt

[mollyguitar]

Hi, I've just been reading about Cabot Financial and wondered if anyone could help me or give me any advice.

 

I recently paid off an old Barclaycard account with them that they had been sending letters about for a few months. They sent me a card saying they would call at my house so I panicked and paid it off last week using savings. However, after reading threads on here about them I'm regretting doing this as it defaulted in 2003 so may have been statute barred as I live in Scotland.

 

Yesterday I received a phone call from them saying that they had found an old account of mine that was a Royal Bank Of Scotland credit card and the balance was £530 but if I paid it off today it would only be £500. They said if I did not pay this today they would get a county court judgement against me. The woman was very unpleasant and was pressurising me, asking how I had paid it off the last time and could I think of anyone that I could borrow the money from and I could pay it off over two months or three months if I couldn't get the money today. I ended the call by telling her to stop harassing me and she called back 5 minutes later but I hung up. I'm now expecting a nasty letter from them.

 

This Royal Bank Of Scotland credit card defaulted in 1999 and as I moved addresses a few times in the subsequent years ( I was a student) I have not heard anything from them since. Is this debt satute barred and can Cabot take a county court judgement against me ? I went on the national debtline website who advised that this was statute barred and gave a sample letter that I could send to them.

 

I would really appreciate anyone's help on this one.

 

Thanks

[DDWales]

Hi, from the information you have written it does seem that the RBS card you mention is statute barred as it is from 10 years ago and you havent had any contact with RBS or paid anything towards it. Cabot are notorious on this site for many things and there are plenty of threads on here to read up on them. Unfortunately for them though you are now a member of CAG and will be helped by many of the great people on here . I am new to this site myself and am still learning the ropes but am sure someone will provide assistance soon. Also, have a look at the stickies for template letters and other threads for sending letters to them regarding this matter. There are alot on here which will hopefully remedy your situation. Best of luck. DDW

[cerberusalert]

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

 

Dear Sir/Madam

 

Acc/Ref No 4563210025897412

 

You have contacted us regarding the account with the above reference number, which you claim is owed by ourselves.

 

We would point out that under the Limitation Act 1980 Section 5 “an action founded on simple contract shall not be brought after the expiration of six years (5 years in Scotland) from the date on which the cause of action accrued.”

 

We would also point out that the OFT say under their Debt Collection Guidance on statute barred debt that “it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period”.

 

The last payment of this alleged debt was made over six years ago and no further acknowledgement or payment has been made since that time. Unless you can provide evidence of payment or written contact from us in the relevant period under Section 5 of the Limitation Act, we suggest that you are no longer able to take any court action against us to recover the alleged amount claimed.

 

The OFT Debt Collection Guidance states further that “continuing to press for payment after a debtor has stated that they will not be paying a debt because it is statute barred could amount to harassment contrary to section 40 (1) of the Administration of Justice Act 1970”.

 

We await your written confirmation that this matter is now closed and that no further contact will be made concerning the above account after that last letter.

 

We look forward to your reply.

 

Yours faithfully

Mr A N Other

[ODC]

Obviously Crapbot see you as a soft touch and some of their threat monkeys saw you paid up on another Statute Barred Debt so the assume you will do so again. They broke the OFT Rules by telling you to borrow money to pay this debt.

 

As you live in Scotland this is the letter you need to send

 

Dear Sir

 

I would point out that under The Prescription and Limitation (Scotland) Act 1973 Part 1 Section 6 "If, after the appropriate date, an obligation to which this section applies has subsided for a continuous period of 5 years:

 

(a) without any relevant claim having been made in relation to the obligation, and

(b) without the subsistence of the obligation having been relevantly acknowledged,

 

then as from the expiration of that period the obligation shall be extinguished:"

 

The last acknowledgement of this alleged debt was made over five years ago. Unless you can provide evidence of payment or written acknowledgement from myself in the relevant period under Part 1 Section 6 of The Prescription and Limitation (Scotland) Act 1973 , I would respectfully suggest that you are no longer able to take any court action against myself to recover the alleged amount claimed.

 

Should you continue to pursue me with regard to this matter I will report you with a view to prosecution under the Consumer Protection from Unfair Trading Regulations 2008 and to whatever regulatory authorities I see fit.

 

yours etc

[shezboy]

I don't know if this is right but I have heard that when sending a letter like

this then you shouldn't actually sign the letter and instead just put your

full name and title instead.

 

Is this true?

 

Also, if that is true then I personally would state that I have not signed

the letter to prevent anyone from adding your signature afterwards.

[mollyguitar]

Thanks everyone. As soon as they send me a letter I'll fire one of those back to them.

 

I think they do see me as a soft touch. They are wrong. That's put my mind at rest

[ODC]

I don't know if this is right but I have heard that when sending a letter like

this then you shouldn't actually sign the letter and instead just put your

full name and title instead.

 

Is this true?

 

Also, if that is true then I personally would state that I have not signed

the letter to prevent anyone from adding your signature afterwards.

 

It has been alleged that DCAs MAY get Creative with your signature and Photoshop

[Wizard of ID]

Thank you, Cerberusalert, for your draft letter. I have just received a letter from a DCA acting for Cabot demanding £1000, but offering to accept £600 if I cough up "within seven days of the date of this letter" -- which they then send second class, giving me four or maybe five days to respond. Obviously, business mail doesn't get delivered at weekends, so that gives me two or three days, right?

 

I've checked my credit history, which shows no defaults, so I think this probably refers to a statute-barred debt. So I copied and pasted your draft, made a couple of appropriate changes, and posted it. Thanks for your help.

Edited September 21, 2009 by Wizard of ID

[Wizard of ID]

Just got a letter from Clarity Collections, Cabot Financial's DCA, saying the following:

 

"I refer to your letter dated 1st September.

 

"We are aware of the Limitation Act and the guidance provided by the Office of Fair Trading in this respect. neither questions the right of a creditor to seek repayment of a contractual debt on a voluntary basis. As I'm sure you appreciate, many people honour their contracts irrespective of whether there is a legal remedy to enforce.

 

"Given the circumstances, however, I can confirm that we will be returning this account to our client and you will receive no further communication from Clarity."

 

So the Consumer Action Group gets to chalk up another success!!!!!

 

Thank you again for your advice, CerberusAlert, which is doubly appreciated, given the circumstances. It's a bit rich for Clarity to pretend they were merely inviting me to do the honourable thing, when their previous letter was threatening to sue me, seize my possessions, etc. But that merely adds to the satisfaction of victory!

[cerberusalert]

They try to play the morality card, the trouble is they cannot get their heads around what the concept of morality actually means.

[ODC]

DCAS using the morality card make me want to puke. They dont worry about moral scruples when they set their threat monkeys on yo and bombard you with their threatogrammes

[Singleno]

However, credit card companies usually send a copy of the application form (often without a signature) and a copy of current Terms and Conditions, which fully complies with the 1983 regulations.

 

Why not just repay your Debt ?? You took the card out spent the money why avoid it I don't understand please let this site help people who need help not the wont pays who chose to avoid for no other reason

[debt4get]

ah the latest cabot troll enters the fray....utter crap and you know it...card companies need to comply fully with the regulations....that includes a signed copy of your agreement not an application form with or without a signature

[ODC]

Dear Troll

Just because you are gullible enough to believe the claptrap and downright untruths peddled by your employers do not think that people with half a brain and an ounce of common sense will make sur they obey ALL the law and not cherry pick sections if it that suit their lies. So unless you have anything sensible to add I suggest you go back to your threat centre and peddle your lies there amongst the rest of your pre pubescent pals

[sam614]

However, credit card companies usually send a copy of the application form (often without a signature) and a copy of current Terms and Conditions, which fully complies with the 1983 regulations.

 

Why not just repay your Debt ?? You took the card out spent the money why avoid it I don't understand please let this site help people who need help not the wont pays who chose to avoid for no other reason

 

 

another ar*e:rolleyes:

 

did laugh at his/her/it's other post of

 

cabot are very sympathatic:grin:

[cerberusalert]

However, credit card companies usually send a copy of the application form (often without a signature) and a copy of current Terms and Conditions, which fully complies with the 1983 regulations.

Really?

[ODC]

 

cabot are very sympathatic:grin:

 

He is right about Cabot being sympathetic though

 

 

Half simple and half pathetic LOL

[lickthewallfatboy]

trolls

 

Ya gotta love em

 

Even their mommies are ashamed of them

[ODC]

trolls

 

Ya gotta love em

 

Even their mommies are ashamed of them

 

So would their daddies if they knew who they were:eek:

[Singleno]

Wow, nice forum very unbiased I call the CSA get proper advise paste the responce and all I get is abuse !! you should get the correct facts so people don't shout incorrect facts and then find themselves un stuck google true copy and then abuse me

[debt4get]

WELL i am afraid you were given the wrong advice..not all helplines are infallible..so before you post i suggest reading around all the threads and looking at the advice offered instead of just spouting some rubbish you have been allegedly told..dca's have duty to send you the correct documentation...not some unsigned application form... as to the moral question..well you had the money you pay it back..which is what i think formed the backbone of your argument..a lot of the money these dca's are chasing are made up of illegal charges...in my case to the tune of a thousand pound...where is their morality?

[snowy101]

...where is their morality?

 

Thats a very good point

 

Who gives a flying feck about morality:rolleyes:

 

These DCA`s are gamblers pure & simple, if you purchase debts & people use the LAW of the land to ask you [ DCA] to PROVE that the debt can be legally collected & then find out it cant................... whoops your horse has fallen at the first fence.

Tuff luck, stop gambling on debts & get into another business.

I have never paid one penny to these chancers & despite there threats not one has ever taken me to court.......... i sleep soundly with my set of morals

[Wizard of ID]

Why not just repay your Debt ?? You took the card out spent the money why avoid it I don't understand please let this site help people who need help not the wont pays who chose to avoid for no other reason

 

First, I don't possess a credit card, and never have. So this is not a credit card debt.

 

Second, I don't approve of the methods of DCA's and don't trust them an inch. If they were to clean up their act, I would probably be more willing to consider paying up. Under the circumstances, however, respectability is a two-way street. Trust begets trust. Honesty begets honesty. morality begets morality. The typical DCA is in no position to lecture anybody.

 

This is almost certainly not a debt owed to Cabot, which is a name I had never heard of before, but one they have purchased from another organisation that had written the debt off. Obviously Cabot is not a charity and intends to make a profit on this transaction, so it is either demanding more than the actual debt, or it bought the debt for a fraction of its value. Either way, they are demanding more (probably far more) than it cost them.

 

This debt was contracted years ago; at least six years ago but probably more like ten or fifteen. The original contractor hasn't bothered following it up in all that time. To suddenly pop up years later, inconveniencing me with threats and law suits for something the contractor wasn't interested in at the time is unfair. Even the Trading Standards people think this is unfair, which is why their guidelines proscribe precisely this kind of behaviour.

 

It may simply be a mistake, at which point the DCA will start insisting that I furnish all manner of proofs of my innocence. Apart from the implied presumption of guilt, which I find offensive, it's all highly inconvenient, time-consuming and stressful, but I know from experience that I won't get so much as an apology from the DCA for falsely accusing me.

 

At the time of this demand, I'd just got through an exhausting two-year battle with npower over a prize piece of semi-legal skullduggery, in which the ombudsman ruled against and sharply criticised npower and its methods. Under the circumstances, therefore, I really don't care about Cabot or any other DCA, and the whole lot of them can go to hell so far as I'm concerned.

[lickthewallfatboy]

Congratulations singleno

 

you're an even bigger idiot than I thought

 

Now go away and throw your toys out of your pram somewhere else troll boy

Edited March 10, 2010 by lickthewallfatboy

[oilyrag]

Gawd, they are getting desperate sending the trolls again. Come on Cerebus where is the troll spray?

 

regards

oilyrag.