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Monument/Cabot


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I really would appreciate some advice on this one, I feel that I am up against a brick wall and really don't know what to do in order to move forward.

 

I opened a Monument credit card account in 2000, the account went into arrears in October 2004, and the balance of £1789 has been chased by several debt collectors, it ended up with Cabot in 2005.

 

I had been paying Cabot regular small amounts from 2005 - 2007, the balance at that time was £1835, I then requested a copy of the CCA in August 2007, as this was not forthcoming I stopped payments, they added interest of £840 within two months, and have added £18 monthly since then.

 

I have received the following reply:

 

Cabot does rely on the original lender to provide information in order to assist your enquiries. We have made several requests for a copy of the agreement from Monument (now Barclaycard). However as the account was opened in 2000, they no longer hold this documentation.

 

Notwithstanding, Barclaycard has provided Cabot with copies of the available statements pertaining to your account, which I have enclosed. These statements clearly detail repayments that you have previously made towards your debt, which constitute a clear responsibility to repay the debt. In addition I am enclosing a Cabot statement of account, which also details the repayments you have made to Cabot, since our ownership of your account.

 

In light of the above, Cabot is of the opinion that you have been provided sufficient evidence that the account exists. In addition Cabot has provided you with a copy of the notice of assignment from Barclaycard (actually it's a representation) and our introductory letter clarifying Cabot's ownership (another representation).

 

For ease of reference the outstanding balance is £2868!. I would recommend you contact our collections department, within 14 days.

 

If they decide to take court action despite not having a a copy of the agreement, I would have to rely on the Judge adhering to the Consumer Credit Act, and of course my managing to represent myself competently.

 

I could offer to start repaying this debt in small amounts as that is all my financial position will allow, but Cabot have now added in excess of £1000 in interest, and quite honestly given the amount that they originally paid for this debt, I begrudge them making an approximate £2000 profit, while I struggle to keep a roof over my head.

 

Thank you in anticipation, Dibs :-)

Don't know if i'm coming or going!

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If they haven't provided a copy of the original signed credit agreement then the debt is unenforceable until they do.

 

Send them a prove it letter if you want to.

 

Oh and Cabot have never taken legal action with me despite receiving over 20 letters saying they would.

:!: Activ Kapital 2009 - £316 debt cancelled due to no credit agreement

 

:!: TNC Legal Collections (Swinton) - £61 written off due to complaint being upheld with the FOS

 

:D Be Happy and treat people exactly how you would like to be treated

 

:mad: Don't let people take advantage of you and stand up for your rights and beliefs

 

:p You only live once so don't take things so seriously

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They really are chancing their arm here. They purchased a defective debt (the agreement doesn't exist) and they're trying to make you make payments when you have no legal obligation to do so.

 

They are bumwipes of the first order. There is no way that they will attempt to take you to court when they don't have an agreement. Do not make any further payments to them.

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Also ask them for a list of charges which you are entitled to by law.

:!: Activ Kapital 2009 - £316 debt cancelled due to no credit agreement

 

:!: TNC Legal Collections (Swinton) - £61 written off due to complaint being upheld with the FOS

 

:D Be Happy and treat people exactly how you would like to be treated

 

:mad: Don't let people take advantage of you and stand up for your rights and beliefs

 

:p You only live once so don't take things so seriously

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